World News
MOL to Rejoin Ammonia Transport Business
Japanese shipping company MOL is set to rejoin the ammonia freight market.
The company has chartered the 35,000 m3 ammonia/LPG carrier the Green Pioneer and signed a deal with ammonia trading firm Trammo, MOL said in a statement on its website on Tuesday.
MOL had previously been active in the ammonia transport business up to 2016.
"The MOL Group will steadily accumulate a track record in safe, reliable transport of ammonia and hydrogen, which are expected to be in high demand as fuel in the future, and contribute to the realization of a decarbonized society through proactive participation in a broad range of value chains," the company said.
Ammonia has emerged as the leading candidate to become the dominant bunker fuel in the coming decades as the shipping industry seeks to move on from oil-based bunkers and eliminate its carbon emissions.
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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