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 | 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 |
Popular Now More
-
Nov 21CCO Christoffer Berg Lassen is stepping down from the company to be replaced by Anders Grønborg, while Peder Møller becomes its first chief operating officer. -
Nov 20The ISO 6853:2024 specifications, the first of their kind, cover the general requirements and properties for methanol specifically being used as marine fuel. -
Nov 21CTI-Maritec reports on undeclared quantities of cashew nut shell liquid found in VLSFO samples from Rotterdam and Singapore.