World News
MOL to Develop Ammonia-Fuelled Vessel
Mitsui O.S.K. Lines, Ltd. (MOL) today said it is working with shipyards Namura Shipbuilding Co., Ltd. and Mitsubishi Shipbuilding Co., Ltd. to jointly develop a "large-size" ammonia carrier that will also be powered by ammonia fuel.
Ammonia is seen as one of the leading contenders to play a major role in the future marine fuel mix as shipping looks to achieve net zero emissions.
MOL says annual ammonia demand in Japan is estimated at 3 million tons by the year 2030, and 30 million by 2050. The new vessel will help meet some of this demand.
The firm is also looking to use ammonia bunkers in other parts of its fleet.
"MOL will push ahead with efforts to shift to ammonia as a vessel fuel, with the aim of deploying net zero emissions ocean-going vessels in the 2020s and achieving net zero GHG emissions by 2050," it said.
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| VLSFO | MGO | |||
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| $/mt | +/- | $/mt | +/- | |
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| Fujairah | 649.00 | 0.50 | 904.50 | 6.50 |
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| Global 4 Ports Average | 632.00 | 1.00 | 808.00 | 4.00 |
| Global Average Bunker Price | 716.50 | 1.00 | 901.00 | 12.50 |
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