World News
"Enormous Barriers" To Widespread Use of LNG Bunkers
Volvo Penta America region President Ron Huibers says that "enormous barriers" mean the company is not yet ready to work on liquefied natural gas (LNG) fuelled vessels, despite the larger Volvo Group's adoption of LNG and other alternative fuels for trucks, busses, and construction equipment, according to Maritime Reporter.
“While LNG is less expensive and has considerable potential to reduce emissions, we do not believe it will replace diesel as the fuel-of-choice in the near future,” he said.
"There are enormous barriers to the widespread use of LNG as a marine fuel, in terms of the infrastructure required to produce and distribute to the market."
Huibers, who has held his position since the fall of last year, is responsible for commercial marine, leisure marine, and industrial engine business for all of North and South America under a new company structure introduced in January.
He said the company will keep looking at new alternative-fuels and consider bringing new products to market based on technology and demand.
A Lloyd's Register analyst also recently warned that LNG bunkering faces technological barriers to adoption, but firms including classification societies Bureau Veritas (BV) and Det Norske Veritas (DNV) have been working to address the issues.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 509.00 | 4.50 | 623.00 | 3.00 |
| Rotterdam | 463.00 | 7.00 | 623.50 | 2.00 |
| Houston | 471.50 | 4.50 | 627.50 | 3.50 |
| Fujairah | 501.00 | 4.50 | 714.00 | 1.00 |
| Global 20 Ports Average | 529.00 | 2.50 | 714.50 | 2.50 |
| Global 4 Ports Average | 486.00 | 3.00 | 647.00 | 2.50 |
| Global Average Bunker Price | 572.50 | 2.00 | 753.00 | 2.00 |
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