World News
Media Coverage of Alternative Bunkers Jumped in 2020
While progress towards decarbonising shipping still appears to be slow, the PR efforts around alternative fuels appear to be in good health.
The decarbonisation agenda was probably second only to the COVID-19 pandemic in topics of conversation for the shipping and bunker industries in 2020. Analysis of media coverage of the new fuels shows how far they have risen up the agenda.
Of the stories published by Ship & Bunker last year, 13.9% covered alternative fuels excluding LNG, up from 7.6% in 2019.
Some 9% covered LNG, up from 7.1% the previous year. And scrubber coverage saw a slight decline, slipping to 7.5% from 9.2% in 2019.
The jump in alternative fuels coverage -- while actual zero-carbon ship investments remain years off -- shows how anxious shipowners and the wider industry have been to talk about decarbonisation plans. Increasing antipathy towards fossil fuels among banks and regulators is a problem of which the industry is keenly aware, and the need to talk about how it plans to cut emissions is becoming more urgent.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 565.50 | 4.50 | 678.50 | 4.50 |
| Rotterdam | 512.00 | 3.50 | 676.00 | 9.00 |
| Houston | 552.00 | 3.00 | 682.00 | 4.00 |
| Fujairah | 555.50 | 7.50 | 753.00 | 1.50 |
| Global 20 Ports Average | 583.50 | 4.00 | 762.50 | 2.50 |
| Global 4 Ports Average | 546.50 | 4.50 | 697.50 | 2.50 |
| Global Average Bunker Price | 632.50 | 2.00 | 811.00 | 1.50 |
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