World News
New DNV Class Notation Covers Multiple Alternative Bunker Fuels
Classification society DNV has launched a new class notation for ships that are in a position to be retrofitted to run on a variety of different alternative fuels at a later date.
The organisation's new 'fuel ready' notation can be used for ships that are ready to be converted to run on ammonia, LNG, LPG or methanol, or a variety or all of the above, DNV said in an emailed statement on Friday.
"With the industry under pressure to bend the carbon curve towards zero, inaction is not an option, but picking a future winner in a complicated fuel landscape is a significant challenge," Knut Ørbeck-Nilssen, CEO of DNV Maritime, said in the statement.
"'Fuel Ready' gives owners the option to tailor their future conversion with more than one fuel in mind."
The idea behind the notation is to give shipowners more flexibility around their choice of fuel in order to "minimize the risk of stranded assets and maintain a vessel's lifetime competitiveness," the company said.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 570.00 | 1.00 | 683.00 | 2.50 |
| Rotterdam | 515.50 | 1.00 | 685.00 | 7.50 |
| Houston | 555.00 | 1.00 | 678.00 | 1.00 |
| Fujairah | 563.00 | 2.00 | 754.50 | 0.50 |
| Global 20 Ports Average | 587.50 | 1.50 | 765.00 | 0.50 |
| Global 4 Ports Average | 551.00 | 1.00 | 700.00 | 1.00 |
| Global Average Bunker Price | 634.50 | 1.00 | 812.50 | 1.00 |
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