World News
Maersk Sister Company to Use Green Methanol for Plastics Production
Wednesday October 2, 2024
A new sister company to container line AP Moller-Maersk is set to use green methanol as a feedstock for plastics production.
Parent company AP Moller Holding has launched Vioneo, a company focused on developing large-scale fossil-free chemicals and plastics production, the firm said in a statement on its website.
The new company's production method uses green methanol as a feedstock to produce polypropylene and polyethylene. Vioneo plans to build a 300,000 mt/year plant in Antwerp.
Maersk was a significant early backer of using methanol as a bunker fuel, ordering a large number of container ships using the alternative fuel. But more recently the company has also moved into ordering ships capable of running on methane.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 571.00 | 1.50 | 685.50 | 5.50 |
| Rotterdam | 516.50 | 1.50 | 677.50 | 3.50 |
| Houston | 556.00 | 6.00 | 679.00 | 1.00 |
| Fujairah | 565.00 | 4.50 | 755.00 | 1.50 |
| Global 20 Ports Average | 589.00 | 3.00 | 764.50 | 3.50 |
| Global 4 Ports Average | 552.00 | 3.00 | 699.00 | 2.50 |
| Global Average Bunker Price | 635.50 | 1.00 | 811.50 | 11.00 |
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