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MAN Energy Solutions Suggests Fossil Fuel Bunker Ban in 2030s
A ban on the use of fossil fuels as bunkers may be needed in the early 2030s if the International Maritime Organization's decarbonisation targets are to be achieved, according to engine manufacturer MAN Energy Solutions.
MAN has published a new study examining the paths the shipping industry might take in the coming decades as it seeks to address its carbon emissions. The study takes four scenarios with varying levels of success in meeting the IMO's targets.
"First, we need society's advocacy to make the maritime energy transition a success," Uwe Lauber, CEO of MAN, said in the study.
"The underlying change process required is much bigger than our industry.
"Second, global growth can be an important driver for decarbonization – and vice versa.
"And finally, at some point down the road we may have to discuss a ban of fossil fuels, which takes us right back to the first insight."
In the two scenarios where MAN foresees the shipping industry achieving the IMO's targets, fossil fuel bunkers are banned -- the first in newbuildings from 2035, and the second for all transport in 2030.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 649.50 | 2.00 | 778.50 | 8.50 |
| Rotterdam | 602.00 | 0.50 | 748.00 | 6.00 |
| Houston | 624.00 | 5.00 | 792.00 | 3.50 |
| Fujairah | 649.50 | 2.00 | 898.00 | 3.00 |
| Global 20 Ports Average | 662.00 | 2.00 | 855.00 | 1.50 |
| Global 4 Ports Average | 631.00 | 1.00 | 804.00 | 0.50 |
| Global Average Bunker Price | 717.50 | 0.50 | 913.50 | 1.00 |
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