World News
Finland's VTT Researches Biofuel Suitability as Alternative Bunkers
A project led by Finnish research company VTT is set to investigate the potential for biofuels to replace fossil fuels for the bunker industry, the company said Tuesday.
Over three years VTT and its partners will explore the suitability of various fuel oils made from biomass and waste plastics are for use in marine engines and power plants, the company said in a statement on its website.
"Our goal is to find the most ecologically and economically sustainable way to replace fossil heavy fuel oil in ship and power plant diesel engines," Anja Oasmaa, senior principal scientist at VTT, said in the statement.
"We compare different methods of industrially producing fuel oils from, for example, waste plastics or biomass, such as harvest residues from forestry and agriculture."
Biofuels produced from biomass could potentially be a means of the shipping industry reducing its greenhouse gas emissions, if the carbon removed from the atmosphere by the plants used to make them during their lifetime are factored into the calculations.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 556.00 | 9.50 | 674.00 | 4.50 |
| Rotterdam | 507.00 | 5.00 | 663.50 | 12.50 |
| Houston | 549.50 | 2.50 | 677.00 | 5.00 |
| Fujairah | 548.50 | 7.00 | 748.50 | 4.50 |
| Global 20 Ports Average | 580.00 | 3.50 | 761.00 | 1.50 |
| Global 4 Ports Average | 540.00 | 6.50 | 691.00 | 6.50 |
| Global Average Bunker Price | 625.50 | 7.00 | 809.50 | 1.50 |
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