World News
Regs on CO2 to Speed Up Adoption of LNG Bunkers, Says BSM Exec
Angus Campbell, Corporate Director of Energy Projects at Bernhard Schulte Shipmanagement (BSM) says stricter environmental regulations on carbon emissions could see liquefied natural gas (LNG) adopted as a marine fuel faster than anticipated, Reuters reports.
"(LNG as a shipping fuel) will happen rather more quickly because of initiatives like the EU’s MRV (Monitoring, Reporting, and Verification) regulation which are putting the spot light on CO2 emissions, not just nitrogen oxides, sulfur oxides and particulates," Campbell told Reuters.
"We’re going to see over time shipyards will have to become proponents of cleaner fuels because there are only so much efficiency gains you can get by making the ship more hydrodynamic and engines more efficient."
Last year, Campbell said that, since LNG was not a particularly viable option for existing vessels due to the expense of retrofitting such propulsion systems, dual-fuel engines would lead the way in the adoption of LNG bunkers.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 648.00 | 2.00 | 808.00 | 10.00 |
| Rotterdam | 613.50 | 4.50 | 792.00 | 21.50 |
| Houston | 646.00 | 3.00 | 851.00 | 13.50 |
| Fujairah | 647.50 | 1.50 | 900.00 | 0.50 |
| Global 20 Ports Average | 672.50 | 0.50 | 896.50 | 0.50 |
| Global 4 Ports Average | 638.50 | 2.00 | 838.00 | 4.00 |
| Global Average Bunker Price | 727.00 | 2.00 | 943.00 | 2.00 |
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