World News
MOL Works With Tata Steel on Bulker With Reduced Emissions
Japanese shipping company MOL is set to work with Tata Steel on developing a bulk carrier with reduced emissions.
The two firms have signed a memorandum of understanding to develop and deploy the bulker together, MOL said in a statement on its website on Tuesday. One of the technologies they will consider using will be a rigid sail system MOL is already examining in its 'Wind Challenger' project.
The sail system has the potential to deliver 5-8% fuel and GHG emission savings, according to MOL.
"Tata Steel as a signatory of Responsible Steel is committed to aligning its shipping activities with responsible environmental behaviour," Ranjan Sinha, head of shipping at Tata Steel, said in the statement.
"We are pleased to be joining hands with MOL, a reputed global marine transport company, in combining efforts towards sustainable shipping."
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 570.00 | 1.00 | 683.00 | 2.50 |
| Rotterdam | 515.50 | 1.00 | 685.00 | 7.50 |
| Houston | 555.00 | 1.00 | 678.00 | 1.00 |
| Fujairah | 563.00 | 2.00 | 754.50 | 0.50 |
| Global 20 Ports Average | 587.50 | 1.50 | 765.00 | 0.50 |
| Global 4 Ports Average | 551.00 | 1.00 | 700.00 | 1.00 |
| Global Average Bunker Price | 634.50 | 1.00 | 812.50 | 1.00 |
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