World News
Raizen Joins Forces With Wärtsilä on Ethanol Bunkers Study
Energy company Raizen is set to work with engineering firm Wärtsilä looking into the use of ethanol as an alternative marine fuel.
The two companies have signed a decarbonisation agreement setting out plans for the ethanol study, they said in an emailed statement on Friday.
The use of green ethanol as fuel could reduce CO2 emissions on a standard voyage from Brazil to Europe by up to 80%, according to the statement.
"Ethanol has the potential of being a viable solution to help decarbonize the sector since it provides greater flexibility and optionality as the industry moves toward a combination of lower-emission fuel options," the companies said in the statement.
"With the International Maritime Organization's (IMO) Greenhouse Gas Strategy aiming to reduce carbon emissions from international shipping by 40% by 2030 and 70% by 2050 versus 2008 levels, ethanol can provide one more avenue to help achieve this target."
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 602.50 | 13.50 | 676.00 | 10.00 |
| Rotterdam | 540.50 | 6.50 | 665.50 | 18.00 |
| Houston | 552.50 | 21.50 | 685.50 | 25.00 |
| Fujairah | 592.50 | 17.50 | 783.00 | 10.00 |
| Global 20 Ports Average | 615.00 | 12.00 | 757.00 | 15.00 |
| Global 4 Ports Average | 572.00 | 14.50 | 702.50 | 16.00 |
| Global Average Bunker Price | 653.00 | 9.50 | 824.50 | 9.50 |
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Oct 02The new hire was previously managing director of bunker trading firm Sing Fuels from March 2018 to this month. -
Oct 03The new hire was previously managing partner of Island Gulf Energy in Dubai from July 2016 to last month. -
Oct 02The new hire was previously a bunker trader for marine fuel trading firm Pacific Bunkers in Singapore from July 2012 to last month.