World News
Slow Demand for LNG Bunkers Sees Bomin Exit LNG Bunkering JV
The Bomin Group (Bomin) has sold its 50 percent stake in liquefied natural gas (LNG) bunkering joint venture Bomin Linde LNG to its JV partner Linde AG (Linde), which will now own all shares.
Bomin says it made the decision due to the speed of transition within the marine fuel supply chain in line with changing regulations.
"The demand for LNG has been slower than anticipated, and while LNG remains a viable clean fuel product, Bomin's focus in the short to medium term will be on other alternative products that meet emissions regulations," explained Bomin.
Linde may continue to conduct business under the Bomin Linde LNG name until the end of March 2017, at which time it will have to be replaced by a new brand.
"Bomin Linde LNG will complement and expand our existing LNG portfolio, offering customers access to a unique spectrum of LNG infrastructure in the Baltic Sea and North Sea region," said Bernd Eulitz, Member of the Executive Board of Linde.
As Ship & Bunker has also reported, Bomin Group yesterday announced it has expanded its physical operations in Singapore.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 571.50 | 0.00 | 665.50 | 1.00 |
| Rotterdam | 512.00 | 3.00 | 663.00 | 0.50 |
| Houston | 545.50 | 3.00 | 666.00 | 9.50 |
| Fujairah | 560.50 | 0.00 | 743.50 | 1.50 |
| Global 20 Ports Average | 584.00 | 1.00 | 751.50 | 2.00 |
| Global 4 Ports Average | 547.50 | 0.00 | 684.50 | 2.50 |
| Global Average Bunker Price | 633.50 | 0.50 | 805.50 | 0.00 |
Popular Now More
-
Nov 11Ship & Bunker explores whether legal and compliance concerns are starting to outweigh the apps' unquestioned convince. -
Nov 11OFAC says efforts to evade sanctions are becoming increasingly sophisticated. -
Nov 14The new hire had previously worked for Lanka Marine Services since February 2017.