World News
World's Largest Shipping Firm 'Willing and Ready' to Take on Alternative Fuels
MSC, the world's largest container line by capacity, has said it is 'willing and ready' to take on more in the way of alternative marine fuels.
The firm's vice president of maritime policy and government affairs, Claudio Abbate, addressed the topic at the Economist Impact World Ocean Summit 2023 event in Lisbon this week.
"Participation to green corridors allows us to share with peers experiences and ideas on the adoption of new technologies and different fuels," Abbate said.
"Green corridors are certainly a practical way to start the decarbonization pathway but, being present in over 160 countries around the world, we believe that experience gained shall be transferred across the industry because we need global and flexible solutions to achieve our decarbonization goals.
"Also, it is imperative that we keep in mind the necessity for not only supply of alternative fuels at scale, but also efficient and timely accessibility to fuels."
While large container lines including Maersk and CMA CGM have started to order methanol-fuelled tonnage as an early stage in decarbonising their fleet, MSC has yet to do so. The firm has ordered significant numbers of LNG-fuelled ships -- and these ships will theoretically be capable of running on a net-zero basis, if synthetic LNG becomes available -- as well as starting to consume biofuel blends in some cases.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 641.00 | 4.00 | 762.00 | 5.50 |
| Rotterdam | 599.00 | 1.00 | 751.00 | 0.50 |
| Houston | 629.50 | 2.00 | 802.50 | 6.50 |
| Fujairah | 647.50 | 2.00 | 883.50 | 5.50 |
| Global 20 Ports Average | 661.50 | 3.50 | 859.00 | 5.00 |
| Global 4 Ports Average | 629.50 | 1.00 | 799.50 | 1.50 |
| Global Average Bunker Price | 719.00 | 3.50 | 915.00 | 7.50 |
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