World News
US, UAE Strike Clean Energy Deal
A clean energy partnership has been signed by the United States and United Arab Emirates to develop clean energy projects across the worlld including ecarbonising the long-haul shipping sector.
The two countries "intend to work together to scale up production of clean fuels in long-distance transport sectors such as aviation and shipping", a statement from the White House said.
"Reducing emissions in the industrial, long-haul maritime and aviation sectors are not easy because clean energy applications are limited in these sectors," the statement added.
"The Partnership to Accelerate Transition to Clean Energy (PACE) will encourage investment and project-level collaboration in addition to spurring demand for net-zero emissions industrial products and helping to ramp up supply of such products."
While alternative marine fuels are making headway in the shipping sector, market observers argue that without sufficient investment the new fuels may struggle to overcome commercial barriers to their development.
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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