World News
'We Can't Afford to Wait for the Ideal Solution' on Alternative Fuels: Probunkers
The shipping industry should not wait for 'ideal solutions' to emerge before it starts its decarbonisation efforts, according to LNG bunker supplier Probunkers.
Probunkers sees a general consensus that LNG bunker demand will grow to 8-12 million mt/year by 2025, and to 28-32 million mt/year by 2030, Alexander Prokopakis, CEO of Probunkers, told Ship & Bunker by email Wednesday.
"Bio-LNG and synthetic LNG are the future of the industry; they're the future of decarbonisation," Prokopakis said.
"We all know and understand that LNG is a fossil fuel, but it is the best commercial, available alternative today.
"We can't afford to wait for the ideal solution, we need to act now.
"By investing now in LNG and lowering emissions, it will be an easier seamless transition to bio-LNG and synthetic LNG.
"Over the next decade we will see many advancements towards the availability of these products."
Prokopakis will be speaking at the IBIA Annual Convention 2020 in November.
The global convention, being held online this year for the first time, will cover three days from November 3.
To register for the convention, click here: https://www.eventora.com/en/Events/ibia-annual-convention-2020-going-global.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 649.50 | 2.00 | 778.50 | 8.50 |
| Rotterdam | 602.00 | 0.50 | 748.00 | 6.00 |
| Houston | 624.00 | 5.00 | 792.00 | 3.50 |
| Fujairah | 649.50 | 2.00 | 898.00 | 3.00 |
| Global 20 Ports Average | 662.00 | 2.00 | 855.00 | 1.50 |
| Global 4 Ports Average | 631.00 | 1.00 | 804.00 | 0.50 |
| Global Average Bunker Price | 717.50 | 0.50 | 913.50 | 1.00 |
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