World News
New Finance Fund Backs Methanol-fuelled Vessels
Four methanol powered ships are to be the first assets in a sustainable shipping fund.
The fund is called the Low Emission Methanol Shipping Company (LEMSCO) and is a joint-venture between Proman and Stena Bulk with financing from ABN Amro.
President and chief executive of Stena Bulk, Erik Hånell, said that the fund would "prioritise low-emission methanol as a viable alternative fuel".
The four ships, which were acquired from Proman and Stena Bulk, will be the fund's seed assets, a press release from the companies said
"LEMSCO will invest in shipping and associated infrastructure with the aim of reducing emissions from the global maritime sector providing investors with an opportunity to invest directly in the energy transition of the shipping industry," according to the statement.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 571.00 | 1.50 | 685.50 | 5.50 |
| Rotterdam | 516.50 | 1.50 | 677.50 | 3.50 |
| Houston | 556.00 | 6.00 | 679.00 | 1.00 |
| Fujairah | 565.00 | 4.50 | 755.00 | 1.50 |
| 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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