World News
AM Green Partners with DP World to Develop Green Fuels Bunkering Infrastructure
Indian renewable firm AM Green has signed a memorandum of understanding with Dubai-based logistic firm DP World to jointly develop logistics and storage to facilitate exports of 2 million mt/year of green ammonia and methanol.
Both companies will also collaborate to develop infrastructure to support the bunkering of green ammonia and methanol in key regions including Dubai, India and southeast Asia, AM Green said in a statement on its website.
The green ammonia and methanol required for bunkering will be sourced from AM Green's upcoming production plants in India, where these fuels will be produced using renewable electricity.
AM Green has already made a final investment decision for a 1 million mt/year capacity green ammonia production plant in Andhra Pradesh’s Kakinada, located on India's eastern coast.
“We are committed to contributing to India’s ambition of emerging as a green energy exporter and we are excited to partner with DP World to build a world-class infrastructure for the global movement of green molecules.” Mahesh Kolli, founder of Greenko Group & AM Green, said.
As the shipping industry faces growing pressure to reduce its carbon footprint and comply with stringent environmental regulations, green ammonia and green methanol are emerging as viable alternatives to traditional bunker fuels.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 597.00 | 2.00 | 733.00 | 8.00 |
| Rotterdam | 547.00 | 3.00 | 706.50 | 1.00 |
| Houston | 598.00 | 1.00 | 765.50 | 6.50 |
| Fujairah | 586.50 | 2.50 | 782.00 | 4.00 |
| Global 20 Ports Average | 608.50 | 2.00 | 801.50 | 0.50 |
| Global 4 Ports Average | 582.00 | 2.50 | 747.00 | 1.50 |
| Global Average Bunker Price | 649.50 | 1.00 | 839.50 | 0.50 |
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