World News
LNG Bunkers are Win-Win In the Long Term, Says European Operator
Liquid natural gas (LNG) as a fuel is a "win-win situation" when considered as a long-term solution, according to short-sea operator United European Car Carriers (UECC), Euronews reports.
"You have to look at the long picture," said UECC Head of Ship Management Peter Andersson.
"You have a vessel that is going to operate between 25 and 30 years.
"And then, in this eco-zone, when you can't burn high sulfur fuel any more, in that perspective we see it as a win-win situation"
Since the beginning of the year, the sulfur content in marine fuel used in Emission Control Areas (ECA) can not exceed 0.10 percent, which means shippers must switch to lower-sulfur fuel, install scrubbers as an equivalent method of compliance, or turn to LNG.
Engines which run wholly on LNG are already on the horizon, though changes in the industry will have to be made, according to Lars R. Juliussen, the project coordinator for a European research group focusing on marine engines.
"I think we need to see that supply systems and bunkering systems are available in large scale for LNG," he said.
"When that is the case and you have a safe supply and also a price structure that is safe and reliable, then people would like to go towards a situation that is a hundred percent gas."
Last week, a Norwegian LNG company argued that mobile, offshore LNG bunkering terminals would be a faster way of establishing LNG infrastructure worldwide.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 646.50 | 5.50 | 773.50 | 11.50 |
| Rotterdam | 604.00 | 5.00 | 756.00 | 5.00 |
| Houston | 630.50 | 1.00 | 798.50 | 4.00 |
| Fujairah | 650.50 | 3.00 | 897.00 | 13.50 |
| Global 20 Ports Average | 662.50 | 1.00 | 858.50 | 0.50 |
| Global 4 Ports Average | 633.00 | 3.50 | 806.00 | 6.50 |
| Global Average Bunker Price | 718.50 | 0.50 | 914.00 | 1.00 |
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