World News
New Joint Venture Launched for Ammonia-Powered Shipping
A new ship management venture has launched specialising in ammonia-powered vessels.
Bernhard Schulte Shipmanagement and Norwegian ammonia specialists Amon Maritime have set up a new joint venture, Ula Ship Management, BSM said in a statement on its website on Tuesday. The company, to be based in Sandefjord, will specialise in ammonia-powered ships but also be open to other customers.
Amon Maritime plans to develop a fleet of ammonia-powered ships which will be managed by the new joint venture.
"Ula Ship Management promotes to access the strong Norwegian market with its diversely positioned ship owners," Nick Topham, managing director of BSM Deutschland, said in the statement.
"At the same time, we are consciously entering the operation of ammonia-powered vessels.
"With Amon Maritime, we have a partner at our side who has extensive expertise in this innovative and sustainable field. Our experience is an excellent match."
Ammonia is widely expected to take up a significant share of the marine energy mix in future decades, although for now methanol looks more likely to be of interest as an alternative bunker fuel in the next few years. Significant research and development work is still needed to develop safety measures for ammonia-fuelled ships, as well as developments in carbon regulation and renewable energy provision to lower ammonia's costs relative to other bunker fuels.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 567.50 | 3.50 | 700.00 | 14.50 |
| Rotterdam | 512.50 | 4.00 | 695.00 | 17.50 |
| Houston | 556.00 | 6.00 | 679.00 | 1.00 |
| Fujairah | 562.50 | 2.50 | 755.00 | 0.00 |
| 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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