World News
South Korea Pushes Ahead With Green Shipping Corridors
South Korea is moving ahead with plans to develop green shipping corridors and expand the use of low-emission ships.
The Ministry of Oceans and Fisheries will take public comments from September 2 to October 13 on draft rules for the Special Act on Support for Establishing Green Shipping Routes, it said in an announcement last week.
The law is scheduled to take effect on April 1 next year and will support shipping routes using low-carbon or zero-emission marine fuels and cleaner technologies.
The government is also implementing its 2026-2035 plan for eco-friendly ships, which aims to support the conversion of 889 public and private vessels by 2035.
The plan includes support for cleaner ship technologies, fuel infrastructure and eco-friendly shipbuilding, with additional focus on smaller shipbuilders and equipment companies.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 854.00 | 11.50 | 1278.50 | 11.00 |
| Rotterdam | 681.00 | 5.50 | 1400.00 | 10.00 |
| Houston | 725.50 | 15.00 | 1364.50 | 23.50 |
| Fujairah | 944.50 | 19.00 | 1675.50 | 9.00 |
| Global 20 Ports Average | 860.50 | 15.50 | 1522.00 | 1.50 |
| Global 4 Ports Average | 801.00 | 13.00 | 1429.50 | 4.00 |
| Global Average Bunker Price | 922.00 | 13.00 | 1596.50 | 2.50 |
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