World News
K Line Wins ClassNK Approval for Ammonia-Fuelled Bulker Design
Japanese shipping company K Line has won the initial approval of classification society ClassNK for the design of a bulk carrier fuelled by ammonia.
ClassNK has awarded approval in principle for the 200,000 DWT bulker's design, K Line said in a statement on its website on Monday.
K Line aims to take delivery of the vessel in 2026.
"The acquisition of the AiP is an important milestone for the implementation of ammonia-fuelled ships, a new challenge for the maritime industry, and also an important step toward the further promotion of the "Integrated Project" being facilitated by ITOCHU Corporation," the company said in the statement.
""K" Line and partners will proceed with the development of the Vessel based on the basic design for which the AiP has been obtained."
Ammonia is widely expected to take up a significant share of future marine energy demand, once further research and development work is carried out into how it can safely be handled as a bunker fuel. Supply of the alternative fuel has yet to be developed at key bunkering hubs; the Port of Rotterdam plans to carry out its first trial ammonia bunkering operation in 2024.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 647.00 | 6.00 | 762.00 | 5.50 |
| Rotterdam | 599.00 | 1.00 | 751.00 | 0.50 |
| Houston | 618.00 | 11.50 | 802.50 | 6.50 |
| Fujairah | 642.00 | 5.50 | 883.50 | 5.50 |
| Global 20 Ports Average | 661.50 | 3.50 | 859.00 | 5.00 |
| Global 4 Ports Average | 629.50 | 1.00 | 799.50 | 1.50 |
| Global Average Bunker Price | 719.00 | 3.50 | 915.00 | 7.50 |
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