World News
Korean Firms to Develop Enhanced Ammonia Fuel Supply System
South Korea's KR and Hyundai Heavy Industries are set to collaborate on developing an enhanced ammonia fuel supply system.
The two companies have signed a memorandum of understanding to develop the system together, KR said in an emailed statement on Thursday.
Hyundai Heavy Industries will design key system configurations to integrate ammonia fuel into ammonia carriers, while KR will work towards a comprehensive risk assessment and granting its approval in principal.
"Ammonia, as a zero-carbon fuel, offers significant benefits in operational economics and supply stability," Jung Jaejun, executive vice president of HD HHI, said in the statement.
"Through this risk assessment, we are dedicated to developing an enhanced ammonia fuel supply system, contributing to global carbon-neutral initiatives."
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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