World News
TotalEnergies Signals Methanol Bunkers Push by Joining Industry Body
The marine fuels unit of global energy supplier TotalEnergies looks set to make a foray into the methanol bunkering business as it joins industry body the Methanol Institute.
TotalEnergies Marine Fuels has joined the Methanol Institute as part of its parent firm's plan to reach net zero emissions by 2050, the company said in a statement on its website on Tuesday.
In the statement the company noted a project to produce synthetic green methanol at the Leuna refinery as part of its plans in the methanol space.
TotalEnergies is currently the largest supplier of LNG as a bunker fuel as a result of its contract to supply CMA CGM's gas-powered boxships.
"Low-carbon methanol is emerging as one of the promising alternative marine fuel contenders, with strong potential to significantly reduce harmful greenhouse gas (GHG) emissions in the maritime industry," Frederic Meyer, strategy and projects director at TotalEnergies Marine Fuels, said in the statement.
"We are pleased to join the Methanol Institute and look forward to connect with association members to identify opportunities and partnerships that will help to advance and standardize the application of low-carbon methanol as a marine fuel."
Shipping company AP Moller-Maersk is set to be the main customer for methanol bunkers in the coming years, with 13 methanol-fuelled container ships due to join its fleet by the end of 2025.
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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