World News
New SGMF Study Shows 29% Tank-to-Wake GHG Reduction for LNG Versus MGO
The Society for Gas as a Marine Fuel (SGMF) has published new research on the emissions profile of LNG used as bunker fuel.
The SGMF's new life cycle assessment for LNG shows up to 29% tank-to-wake GHG emissions reduction for using LNG versus 0.1% sulfur MGO, the organisation said in an emailed statement on Tuesday.
This reduction is up to 13% improved compared to the previous LCA conducted in 2022.
"Shipowners making decisions on future fuel pathways must rely on independent, fact based full Well-to-Wake data of all the fuels, ensuring decision making that contributes to reducing the overall emission levels in the maritime industry," Mark Bell, managing director of SGMF, said in the statement.
"That is why, as an organisation, we place high value on rigorous independent studies to support our members and contribute to the safe and sustainable decarbonisation of the maritime industry."
To download the full report, click here.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 762.00 | 4.50 | 1585.00 | 46.50 |
| Rotterdam | 687.50 | 17.00 | 1318.00 | 24.50 |
| Houston | 849.00 | 7.50 | 1246.00 | 32.50 |
| Fujairah | 748.00 | 1.00 | 1564.50 | 7.00 |
| Global 20 Ports Average | 891.50 | 5.50 | 1645.50 | 11.00 |
| Global 4 Ports Average | 761.50 | 5.00 | 1428.50 | 1.00 |
| Global Average Bunker Price | 983.00 | 1.00 | 1723.50 | 6.50 |
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