World News
Singapore, Norway, IMO Agree Decarbonisation Cooperation
Singapore, Norway and the International Maritime Organization have signed a memorandum of understanding to 'collectively undertake technical cooperation activities to assist developing countries in their efforts to reduce emissions from ships and in ports'.
The move brings together two schemes already in train -- 2019's GreenVoyage2050 between Norway and the IMO and 2022's NextGen Connect between the IMO and Singapore.
Pooling resources and sharing knowledge and experience will aid the creation of a more "green, sustainable and efficient maritime industry", a joint statement said .
"Participants will work together to exchange experience, knowledge and best practice, and undertake joint resource mobilization with a view to cooperate and collaborate on actions to reduce greenhouse gas emissions from ships and the activities of ships in ports."
The Maritime and Port Authority of Singapore's chief executive, Teo Eng Dih, added that the MOU would "help reduce greenhouse gas emissions from shipping in an inclusive manner and with the support of like-minded States, aggregate demand along the supply chain".
The Southeast Asian shipping and bunkering hub has taken a lead in espousing technological solutions to the threat of climate change. Among a raft of initiatives designed to tackle shipping emissions, earlier this month the authority said that harbour craft including bunkering vessels must be net-zero by 2050 while new harbour craft must be net-zero from 2030.
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 |
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