World News
GCMD Announces Partnership With LNG and Ammonia Bunker Group SGMF
The Global Centre for Maritime Decarbonisation has announced a partnership deal with LNG and ammonia bunkering group the Society for Gas as a Marine Fuel.
Under the two-year deal, the companies plan to collaborate on developing guidelines for the use of ammonia as a marine fuel, the GCMD said in an emailed statement on Thursday.
The SGMF has already developed guidelines for LNG bunkering.
"With SGMF joining as a Coalition Partner, and together with other existing partners, we are confident that we can jointly contribute towards standards development of safe ammonia bunkering internationally," Lynn Loo, CEO of the GCMD, said in the statement.
"While ammonia vessels are not expected to be on water till 2026, we will need to ready the ecosystem for ammonia bunkering in the meantime by getting guidelines in place if bunkering of vessels is to happen then."
Ammonia is widely expected to take up a significant share of future marine energy demand because of its lack of associated carbon emissions. But further research and development work will need to be completed first looking into how its toxicity can be managed when handling it as a bunker fuel.
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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