World News
Eastern Pacific Shipping Backs Carbon Capture in New Start-Up Investments
Singapore-based Eastern Pacific Shipping has invested in carbon capture technology as part of a new set of start-up investments.
As part of its Eastern Pacific Accelerator scheme, the company last week announced nine new investments in start-ups working on green technology for the shipping industry. As well as the investment, the firms will have access to mentors within the shipping company and be introduced to potential customers and sources of funding.
Among the companies the firm has invested in is Seabound, a start-up developing a carbon capture system for ships.
The other companies are graphene coating firm Graphite Innovation & Technoloigies, shaft generator developers Marine Edge, lender Marlo, lubricant analysts Sanchip, corrosion detection firm qualiTEAS, communication systems company Sealution, anchor analysis firm Swiss Ocean Tech and weather specialists i4sea.
"Decarbonisation is the shipping industry's electric vehicle moment," Dhitriman Hui, manager of the programme, said in the statement.
"Just like a Tesla came out of left field and outmaneuvered most of the auto industry, we feel similar opportunities will emerge in the shipping industry."
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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