World News
Japan's MOL Teams Up With Shell on Green Bunker Fuels
Japanese shipping company MOL is set to work with global energy producer Shell on the development of green bunker fuel markets.
The two firms have signed a memorandum of understanding on the advancement of alternative maritime solutions and the management of carbon emissions, the shipping company said in a statement on its website on Friday.
As part of the deal, the two companies plan to conduct joint trials exploring the viability of bio- and synthetic bunker fuels.
"We are pleased to execute this MOU with Shell, one of the most prominent companies leading the decarbonisation in the shipping society," Kazuhiro Takahashi, executive officer at MOL, said in the statement.
"We believe this MOU will be an important step for both businesses to drive impactful change in the industry.
"Choices of marine fuel will require a strategic decision, then the collaboration with experienced and reliable partners is essential."
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 602.50 | 13.50 | 676.00 | 10.00 |
| Rotterdam | 540.50 | 6.50 | 665.50 | 18.00 |
| Houston | 552.50 | 21.50 | 685.50 | 25.00 |
| Fujairah | 592.50 | 17.50 | 783.00 | 10.00 |
| Global 20 Ports Average | 615.00 | 12.00 | 757.00 | 15.00 |
| Global 4 Ports Average | 572.00 | 14.50 | 702.50 | 16.00 |
| Global Average Bunker Price | 653.00 | 9.50 | 824.50 | 9.50 |
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Oct 02The new hire was previously managing director of bunker trading firm Sing Fuels from March 2018 to this month. -
Oct 03The new hire was previously managing partner of Island Gulf Energy in Dubai from July 2016 to last month. -
Oct 02The new hire was previously a bunker trader for marine fuel trading firm Pacific Bunkers in Singapore from July 2012 to last month.