World News
34 Organisations Join Ammonia Bunker Research Project
A group set up to develop the use of ammonia as an alternative bunker fuel has expanded to have 34 organisations involved.
Japan's ITOCHU Corporation set up the joint study framework with 23 companies and organisations as members, and a further 11 have now joined, the company said in an emailed statement on Friday.
The group is set to discuss safety arrangements, fuel specifications and the methodology to assess net carbon dioxide emissions from production of the fuel.
"The aim of the Joint Study Framework is to verify and organize common issues regarding the use of ammonia as a maritime fuel, which is a new challenge for maritime stakeholders," the company said in the statement.
"Also, this is a step toward advancing an integrated project involving ITOCHU and its partner companies working to develop ships using ammonia fuels and establish a global ammonia supply chain."
Ammonia is currently the leading candidate to become the most-used bunker fuel in the coming decades as decarbonisation gradually shifts shipping firms away from using fossil fuels.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 649.50 | 2.00 | 778.50 | 8.50 |
| Rotterdam | 602.00 | 0.50 | 748.00 | 6.00 |
| Houston | 624.00 | 5.00 | 792.00 | 3.50 |
| Fujairah | 649.50 | 2.00 | 898.00 | 3.00 |
| Global 20 Ports Average | 662.00 | 2.00 | 855.00 | 1.50 |
| Global 4 Ports Average | 631.00 | 1.00 | 804.00 | 0.50 |
| Global Average Bunker Price | 717.50 | 0.50 | 913.50 | 1.00 |
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