World News
Maersk Invests in Bio-Methanol Start-Up
Shipping company AP Moller-Maersk has invested in bio-methanol start-up WasteFuel with a view to securing its future supply of zero-carbon fuels.
The investment will help California-based WasteFuel to develop biorefineries in Asia and the Americas, Maersk said in a statement on its website on Wednesday.
The company has not revealed the size of the investment. As part of the deal Morten Bo Christiansen, head of decarbonisation at Maersk, will join WasteFuel's board.
"We know that sourcing an adequate amount of green fuel for our methanol-fuelled vessels will be very challenging, as it requires a significant production ramp-up globally," Christiansen said in the statement.
"Collaboration and partnerships are key to scaling the production and distribution of sustainable fuels, and we look forward to doing exactly that with WasteFuel; exploring potential future green solutions not just for our vessels, but also for Maersk aviation and trucking activities."
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 641.00 | 4.00 | 762.00 | 5.50 |
| Rotterdam | 599.00 | 1.00 | 751.00 | 0.50 |
| Houston | 629.50 | 2.00 | 802.50 | 6.50 |
| Fujairah | 647.50 | 2.00 | 883.50 | 5.50 |
| Global 20 Ports Average | 661.50 | 3.50 | 859.00 | 5.00 |
| Global 4 Ports Average | 629.50 | 1.00 | 799.50 | 1.50 |
| Global Average Bunker Price | 719.00 | 3.50 | 915.00 | 7.50 |
Popular Now More
-
Apr 22The 46,000 DWT MR2 chemical tanker Green Land was arrested at about 3:30 PM on April 17. -
Apr 22Iranian fuel oil has been widely reported to have been resold in the bunker markets of ports in the region for years, as well as being exported further afield. -
Apr 23The ship had come to Singapore from St Petersburg.