World News
ISO Standardisation Beckons for Methanol Marine Fuel
A move to standardise the make up of methanol as marine fuel has been welcomed by the Methanol Institute (MI).
The invitation to develop a standard was extended to International Organization for Standardization(ISO) by the International Maritime Organization (IMO)
In addition to developing a standard for methyl/ethyl alcohol as a marine fuel, the work would include a standard for methyl/ethyl alcohol fuel couplings.
The decision came from the 99th session of the IMO's maritime safety committee.
"The global chemicals industry currently relies on the IMPCA specification for producers and consumers but a dedicated ISO standard will help shipowners understand the fuel in a marine fuel context," MI chief operating officer Chris Chatterton was quoted as saying by marine news provider Hellenic Shipping News.
"We are seeing increasing interest around methanol as a liquid fuel that is safe to handle easy to ship and store and is more widely available than other low sulphur alternatives," Chatterton added.
Eight ships trade internationally operating on methanol marine fuel with four more expected to enter into service next year.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 628.00 | 1.00 | 736.50 | 0.50 |
| Rotterdam | 569.00 | 10.00 | 730.50 | 23.00 |
| Houston | 591.00 | 3.50 | 770.50 | 6.00 |
| Fujairah | 626.50 | 4.50 | 886.50 | 5.00 |
| Global 20 Ports Average | 644.00 | 2.00 | 825.50 | 0.00 |
| Global 4 Ports Average | 603.50 | 0.50 | 781.00 | 3.00 |
| Global Average Bunker Price | 700.00 | 0.00 | 883.50 | 0.50 |
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