World News
Joint Industry Project Develops Methanol-Powered Products Tanker Design
Classification society DNV GL has given its approval in principle to a design for a methanol-powered products tanker developed by a joint industry product.
Hyundai Mipo Dockyard, MAN Energy Solutions and the Methanol Institute worked together on the tanker's design, the Methanol Institute said in an emailed statement Wednesday.
The ship's cargo capacity is reduced by just 0.6% compared to a diesel-only vessel, and the design would cost only 10% more to build, the organisation said.
The design incorporates the ability to run on VLSFO as well as methanol.
"DNV GL has assessed this design in accordance with its rules and all international standards and is pleased to provide Approval in Principle for a vessel which can make a significant contribution to lower emissions," Vidar Dolonen, regional manager of DNV GL in Korea and Japan, said in the statement.
"In the drive to decarbonize shipping, DNV GL has identified an important role for methanol produced from biomass or renewable energy sources."
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 565.50 | 4.50 | 678.50 | 4.50 |
| Rotterdam | 512.00 | 3.50 | 676.00 | 9.00 |
| Houston | 552.00 | 3.00 | 682.00 | 4.00 |
| Fujairah | 555.50 | 7.50 | 753.00 | 1.50 |
| Global 20 Ports Average | 583.50 | 4.00 | 762.50 | 2.50 |
| Global 4 Ports Average | 546.50 | 4.50 | 697.50 | 2.50 |
| Global Average Bunker Price | 632.50 | 2.00 | 811.00 | 1.50 |
Popular Now More
-
Nov 26The new hire previously worked as a bunker trader for IBT Bunkering & Trading in Hamburg. -
Nov 26The company has hired Mike Parrent, formerly marketing manager for Bomin before its acquisition by Minerva Bunkering earlier this year, as its new physical desk manager in Houston. -
Nov 21CCO Christoffer Berg Lassen is stepping down from the company to be replaced by Anders Grønborg, while Peder Møller becomes its first chief operating officer.