World News
Shell Calls for Co-operation on New Fuels Research
Wide-ranging research commissioned by oil major Shell on shipping's route to decarbonisation has revealed that "urgent effort" is required to reduce the industry's carbon footprint.
The research, Decarbonising Shipping: All Hands on Deck, canvassed opinion from a rich cross-section of top shipping executives.
Among its suggestions to forge a way ahead for the industry is moving quickly to produce a zero or low-emission fuel.
Other pointers to accelerate change include scaling up controlled pilot projects and global regulatory alignment.
Timing these proposals to have an impact is seen as being in the next three to five years.
On new fuels, the report says that industry partnerships should be intensified "to develop zero or low-emission fuels through joint research and development across shipping, other harder-to-abate sectors and the energy industry".
To do this, there needs to be a "much larger pool of capital and expertise to evolve new technologies and increase the likelihood that production and transportation infrastructure will be available once future fuels are commercially viable".
Shell was an early mover in on liquified natural gas as an alternative bunker fuel to oil-derived marine fuel.
The read the full report, click here.
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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