World News
Net-Zero Bunker Fuels 'An Opportunity for All', Says ICS
Shipping's multi-fuel future is confirmed in a report commissioned the industry's international voice, the International Chamber of Shipping.
The report entitled Fuelling the Fourth Propulsion Revolution: An Opportunity for All highlights the role of net-zero fuels both as fuel to be used and cargo to be carried by ships.
Supplying the global fleet from renewable fuels would require a big uptick in green fuel production. As it currently stands shipping would need the entire world's renewable energy production capacity to run on net-zero fuel, the report said.
According to the report, ramping up renewable production brings with it myriad opportunities of which one is hydrogen-based fuel.
"It is crucial for shipping that production facilities for new fuels are within easy access of ports and new bunkering hubs are established to ensure shipping can access and deliver (net) zero fuels globally."
And in a parallel development, the report argues for global safety and sustainability standards for hydrogen-based fuels.
Completed with Professor Dr Stefan Ulreich of the University of Applied Sciences, Biberach, Germany and who is also chair of the Task-force Renewables of the European Federation of
Energy Traders, the full report is freely available from the ICS website.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 567.50 | 3.50 | 700.00 | 14.50 |
| Rotterdam | 512.50 | 4.00 | 695.00 | 17.50 |
| Houston | 556.00 | 6.00 | 679.00 | 1.00 |
| Fujairah | 562.50 | 2.50 | 755.00 | 0.00 |
| 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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