World News
Ammonia Bunker Market May Take 8-10 Years to Develop: Star Bulk
Shipping firm Star Bulk Carriers expects it to take up to a decade for an ammonia bunker market to be established.
The firm is a supporter of the alternative fuel, but believes several key areas will need to be developed for the fuel to become widely used, Nicos Rescos, chief operating officer at Star Bulk, told Ship & Bunker last week.
"We have been committed to the green corridor, alongside BHP and Rio Tinto, on the China-Australia route for green ammonia," Rescos said.
"There is definitely progress being made, and we believe in the scalability of green ammonia production.
"However, we are conservative as to the realistic pace of its commercialization; I think it might take eight to ten years to have in place fully tested end-to-end solutions and with regards to safety, regulation, engine propulsion advancement, fuel availability, scalability and overall commercialisation of the trade."
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 571.50 | 1.50 | 666.50 | 3.50 |
| Rotterdam | 515.00 | 1.50 | 662.50 | 0.50 |
| Houston | 542.50 | 5.00 | 656.50 | 2.00 |
| Fujairah | 560.50 | 6.50 | 742.00 | 4.50 |
| Global 20 Ports Average | 585.00 | 3.00 | 749.50 | 1.00 |
| Global 4 Ports Average | 547.50 | 3.50 | 682.00 | 0.50 |
| Global Average Bunker Price | 634.00 | 2.00 | 805.50 | 1.50 |
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