World News
Maersk Backs Proposal to Limit Engine Power
Maersk has backed a proposal by BIMCO to limit engine power as part of industry efforts of reduce its emissions footprint.
As Ship & Bunker reported on Monday, the shipping association has put forward the idea to IMO as a superior alternative to proposals limiting vessel speed.
"Focusing on power instead of speed limitation will, first and foremost, help to achieve the CO2 reduction goals set by the IMO," Maersk told Maritime Denmark.
"Next, it will reward the most efficient ships and, last but not least, it will stimulate the necessary innovation in the development of CO2-neutral propulsion technologies needed to truly decarbonize shipping.”
Maersk added it is convinced IMO will "find the precise method for defining critical fact-based boundaries."
Despite speed reduction proposals attracting heavy backing from a wide range of industry stakeholders, Maersk criticized the move arguing it would limit the economic incentives associated with investing in energy-efficient ships.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 645.00 | 2.00 | 767.50 | 11.50 |
| Rotterdam | 600.00 | 8.00 | 751.50 | 13.00 |
| Houston | 627.50 | 9.00 | 796.00 | 11.50 |
| Fujairah | 649.50 | 0.00 | 889.00 | 0.50 |
| Global 20 Ports Average | 665.00 | 0.50 | 864.00 | 6.50 |
| Global 4 Ports Average | 630.50 | 5.00 | 801.00 | 9.00 |
| Global Average Bunker Price | 722.50 | 2.50 | 922.50 | 3.00 |
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