World News
MOL Joins Consortium to Develop Green Shipping Corridor in Europe
Japanese shipping firm Mitsui OSK Lines (MOL) has joined a consortium led by renewable energy firm Madoqua, which is seeking to develop a green shipping corridor connecting Portugal and northern Europe.
"This Green Corridor project aims to establish a shipping route where low-emission shipping solutions are utilized and low-carbon fuels are transported," MOL said in a statement on its website last week.
MOL, as a logistical partner in the consortium, will assist in transporting green fuels and CO2, while promoting the use of zero-emission vessels.
Madoqua will serve as the project coordinator for the consortium. The company is developing large-scale green hydrogen projects in Portugal to produce green ammonia and e-methanol, alongside the Madoqua Green Fuels Terminal. This facility will store, handle and bunker alternative fuels at the Port of Sines.
Other consortium partners include the Port of Rotterdam, Cargill, Norwegian Cruise Line, and several key stakeholders in the shipping industry.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 599.00 | 16.50 | 742.50 | 35.50 |
| Rotterdam | 550.00 | 9.00 | 707.00 | 24.50 |
| Houston | 595.00 | 8.50 | 756.50 | 22.50 |
| Fujairah | 588.00 | 15.00 | 785.50 | 23.00 |
| Global 20 Ports Average | 608.50 | 12.00 | 798.50 | 24.50 |
| Global 4 Ports Average | 583.00 | 12.50 | 748.00 | 26.50 |
| Global Average Bunker Price | 649.50 | 8.00 | 835.50 | 14.50 |
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