World News
Maesk Backs Bio-methanol With Longterm Supply Deal
Global ship owner/operator Maersk has agreed a supply deal for bio-methanol with Longi Green Energy Technology.
The move will take Maersk closer to "securing enough methanol for its owned dual-fuel methanol fleet of which seven vessels are already in operation", the company said in a statement.
The bio-methanol offtake supply deal extends into the next decade with first volumes expected in 2026.
The bio-methanol, which will be produced at a facility in Xu Chang, Central China, is made from residues (straw and fruit tree cuttings), according to the statement.
The agreement forms part of the company's "growing global alternative fuels portfolio".
"Bio- and e-methanol continue to be the most promising alternative shipping fuels to scale up in this decade," the statement said.
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| 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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