World News
COP28: Pacific International Lines and DP World Plan Biofuel Bunker Collaboration
Shipping firm Pacific International Lines and logistics firm DP World are planning to collaborate on the decarbonisation of supply chains.
The two companies have signed a memorandum of understanding at this week's COP28 summit in Dubai seeking to collaborate on green solutions, PIL said in a statement on its website on Thursday.
The firms plan to arrange trial shipments between Jebel Ali and ports within PIL's network running on biofuel bunker blends, as well as setting up container handling equipment running on renewable power.
Over the longer term, the companies plan to explore the use of other alternative fuels including synthetic LNG, green methanol and green ammonia.
"Supply chain resilience and sustainability is the bedrock of global trade growth," Lars Kastrup, CEO of PIL, said in the statement.
"With the renewed commitment by the International Maritime Organization (IMO) this year to take a significant step forward to decarbonise the shipping industry, we at PIL are responding actively to IMO's call and working to invest in and implement green solutions to achieve our target of achieving net zero by 2050.
"In this regard, we are pleased to have DP World joining us on our sustainability journey.
"Capitalising on the combined strengths of our two organisations, we can both augment our sustainability efforts as we co-develop solutions to decarbonise our supply chains."
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 571.00 | 1.50 | 685.50 | 5.50 |
| Rotterdam | 516.50 | 1.50 | 677.50 | 3.50 |
| Houston | 556.00 | 6.00 | 679.00 | 1.00 |
| Fujairah | 565.00 | 4.50 | 755.00 | 1.50 |
| Global 20 Ports Average | 589.00 | 3.00 | 764.50 | 3.50 |
| Global 4 Ports Average | 552.00 | 3.00 | 699.00 | 2.50 |
| Global Average Bunker Price | 635.50 | 1.00 | 811.50 | 11.00 |
Popular Now More
-
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. -
Nov 20The ISO 6853:2024 specifications, the first of their kind, cover the general requirements and properties for methanol specifically being used as marine fuel. -
Nov 21CTI-Maritec reports on undeclared quantities of cashew nut shell liquid found in VLSFO samples from Rotterdam and Singapore.