World News
NGO to EU: Mandate Use of E-fuel Bunkers
Green lobby group Transport & Environment (T&E) has criticised the European Commission's (EC) approach to promoting alternative bunker fuels to shipping.
Sticking with the narrative that liquefied natural gas (LNG) works as a transitional fuel could increase the amount of methane going into the atmosphere, it said.
Current EC proposals give the green light to LNG use "well into the 2040s".
According to T&E's own study, "LNG will make up 23% of the total energy used in EU shipping by 2030, up from 6% today".
"Ships will have little or no incentive to switch to more sustainable alternatives such as green hydrogen or hydrogen-based fuels known as 'e-fuels'," the green lobby argued.
"Currently there is no mandate for e-fuels meaning shipowners can rely on fossil LNG and dubious biofuels to meet EU targets into the 2040s," it added.
The organisation favours a different approach. A mandated 6% target for shipping e-fuels by 2030 would be "the most straightforward way to ensure supply and demand for sustainable fuels, while providing business predictability to shipowners and fuel suppliers".
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 565.50 | 6.00 | 661.50 | 4.00 |
| Rotterdam | 510.00 | 2.00 | 661.00 | 2.00 |
| Houston | 548.00 | 2.50 | 666.50 | 0.50 |
| Fujairah | 555.50 | 5.00 | 746.00 | 2.50 |
| Global 20 Ports Average | 582.50 | 1.50 | 753.00 | 1.50 |
| Global 4 Ports Average | 544.50 | 3.00 | 683.50 | 1.00 |
| Global Average Bunker Price | 631.00 | 2.50 | 803.50 | 2.00 |
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