World News
New Report Published Setting Out Case for Ammonia as a Marine Fuel
A group of companies has joined forces to publish a report setting out the case for ammonia as a marine fuel.
Alfa Laval, Hafnia, Haldor Topsoe, Vestas, and Siemens Gamesa have together issued the 'Ammonfuel -- an industrial view of ammonia as a marine fuel' report this month.
The report argues that green ammonia will the the most economic carbon-neutral fuel for ships, forecasting a price of $13.50-15 per gigajoule for ammonia produced using solar and wind energy in 2040-2050, compared with a very low sulfur fuel oil cost of $12.50-15/GJ so far this year.
An additional 150 million mt/year of ammonia production capacity would be needed, using an additional 400 GW of renewable power capacity, to supply 30% of the marine fuel market in 2030, according to the report.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 649.00 | 0.50 | 775.00 | 3.50 |
| Rotterdam | 603.50 | 1.50 | 759.50 | 11.50 |
| Houston | 626.50 | 2.50 | 794.00 | 2.00 |
| Fujairah | 649.00 | 0.50 | 904.50 | 6.50 |
| Global 20 Ports Average | 664.00 | 2.00 | 855.00 | 0.00 |
| Global 4 Ports Average | 632.00 | 1.00 | 808.00 | 4.00 |
| Global Average Bunker Price | 716.50 | 1.00 | 901.00 | 12.50 |
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