World News
Vopak, IHI Eye Ammonia Storage Development in Japan
A Dutch and a Japanese storage firm are to develop ammonia terminals in Japan with the possibility of similar development happening elsewhere.
Vopak and IHI have signed a memorandum of understanding to that effect, according to a statement on Vopak's website.
"The collaboration focuses on large-scale ammonia storage terminals, strategically positioned for the economical distribution of ammonia," the statement said.
"In addition, the study will examine the possibility of streamlining the operation of ammonia terminals to enhance price competitiveness, as well as the conversion and supply of various hydrogen derivatives."
In Japan, IHI is the major player for building ammonia storage tanks. The company is developing large-scale ammonia receiving terminals on the back of experience gained in the field of LNG storage.
According to Vopal executive Chris Robblee, the agreement should "accelerate the development of new supply chains".
Both ammonia and hydrogen are being looked at in the shipping sector as possible alternatives to oil-derived bunker fuel.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 597.50 | 0.50 | 729.00 | 4.00 |
| Rotterdam | 555.00 | 4.00 | 754.00 | 11.00 |
| Houston | 578.50 | 3.50 | 749.00 | 14.50 |
| Fujairah | 600.00 | 0.50 | 853.00 | 6.00 |
| Global 20 Ports Average | 616.50 | 0.00 | 803.00 | 2.00 |
| Global 4 Ports Average | 583.00 | 2.00 | 771.50 | 4.00 |
| Global Average Bunker Price | 661.00 | 0.50 | 863.00 | 4.50 |
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