World News
Ship Management JV Aimed at Methanol-fuelled Shippng
Methanol-powered shipping is to receive a boost with the formation of a dedicated ship management company.
Copenhagen-based Green Marine and Singapore-based Stamford Ship Management have formed the joint-venture "to build and manage, both commercially and technically, methanol dual-fuel propulsion vessels across multiple market segments", Green Marine said.
"The development of methanol propulsion engines provides an opportunity to invest in commercially viable sustainable shipping," the company added.
The new firm, which will be based in the southeast Asian shipping and bunkering hub, has several newbuidling projects in development, Green Marine's founder, Morten Jacobsen, said.
Methanol is one of a number of alternative marine fuels on offer to ship owners and operators.
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.