World News
Japan Govt to Bolster Support for Ammonia Bunkering
Greater support for the development of ammonia bunkering infrastructure is on the cards in Japan as the country's transport ministry looks at subsidising research in train to get merchant ships fuelled by the alternative bunker fuel by 2028.
The ministry is looking to subsidise research into the development of hydogen and ammonia as bunker fuel, according to price reporting agency Argus Media.
Government support for the research and development of the alternative marine fuel is necessary to bolster the international competitiveness of Japanese shipbuilders and ship equipment producers in the emerging zero-emission vessels market taking shape after 2030.
Growing competition with Chinese and South Korean shipbuilders has forced a wave of consolidation in the Japanese shipbuilding industry to enhance its competitiveness, the report said.
Japanese shipbuilders are now accelerating development of greener and zero-emission vessels in efforts to ride out a tough market and tap potential growth in the global decarbonization movement
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 624.50 | 1.00 | 732.00 | 8.50 |
| Rotterdam | 571.00 | 3.00 | 758.00 | 16.50 |
| Houston | 591.50 | 4.00 | 760.00 | 5.50 |
| Fujairah | 629.00 | 0.50 | 877.50 | 3.00 |
| Global 20 Ports Average | 637.00 | 0.00 | 819.00 | 3.00 |
| Global 4 Ports Average | 604.00 | 0.00 | 782.00 | 5.50 |
| Global Average Bunker Price | 688.00 | 2.50 | 879.00 | 1.00 |
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