World News
Container Line HMM Completes Biofuel Blend Trial
Container line HMM is the latest shipping company to complete a trial of a biofuel bunker blend.
The firm recently tested a B30 blend containing 30% used cooking oil-derived biofuel blended with HSFO, it said in a statement on its website on Friday.
The company tested the fuel on the 6,400 TEU boxship HMM Tacoma after bunkering at Busan. The fuel delivered a net GHG reduction of 24% compared to conventional bunkers.
"HMM plans to expand the use of biofuel gradually, reaching about 5-10% of annual fuel consumption," the company said in the statement.
"Despite the higher cost of biofuel, HMM remains committed to heavily investing in the pathway to carbon neutrality, including the introduction of clean alternative energies."
Demand for biofuel bunker blends is increasing as shipowners take them on as a drop-in replacement for conventional fuels with a lower carbon footprint, allowing them to reduce GHG emissions without investing in new ships capable of running on other alternative fuels.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 611.00 | 1.50 | 730.00 | 7.00 |
| Rotterdam | 557.50 | 1.00 | 718.50 | 2.00 |
| Houston | 576.00 | 1.00 | 750.50 | 2.50 |
| Fujairah | 608.50 | 2.50 | 829.00 | 2.00 |
| Global 20 Ports Average | 624.50 | 2.50 | 817.50 | 3.00 |
| Global 4 Ports Average | 588.50 | 0.50 | 757.00 | 2.50 |
| Global Average Bunker Price | 678.50 | 3.50 | 883.50 | 2.00 |
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