World News
SIBCON 2024: Carbon Capture Providers Waiting for IMO Regulatory Support
Suppliers of carbon capture technology for the shipping industry are waiting for regulatory changes from the IMO to help their solution gain traction.
The industry is waiting for a revision of the IMO's CII regulation to take into account carbon capture systems' savings in GHG emissions, a carbon capture provider told Ship & Bunker on the sidelines of the Sibcon industry event in Singapore on Wednesday.
The industry has been waiting for the change for the past three MEPC meetings, and several potential orders from shipowners are on hold until the regulation is changed, the source said.
A regulatory change of this kind would provide a firmer incentive for shipping companies to install carbon capture systems as a means of reducing their emissions.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 569.50 | 6.50 | 680.00 | 10.50 |
| Rotterdam | 514.00 | 2.50 | 676.00 | 7.50 |
| Houston | 547.50 | 0.00 | 671.50 | 1.50 |
| Fujairah | 561.00 | 0.50 | 751.00 | 1.50 |
| Global 20 Ports Average | 586.00 | 0.00 | 759.00 | 0.00 |
| Global 4 Ports Average | 548.00 | 2.00 | 694.50 | 5.00 |
| Global Average Bunker Price | 633.50 | 1.00 | 798.50 | 0.50 |
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