World News
New LNG Bunkering NGO Formed
A new organisation focused on the safe and responsible use of liquefied natural gas (LNG) bunkers, the Society for Gas as a Marine Fuel (SGMF), will be established as a non-governmental organisation (NGO), according to the Society of International Gas Tanker and Terminal Operators (SIGTTO).
"The use of LNG as a marine fuel presents a major challenge for the shipping industry over the coming years," said Luc Gillet, SIGTTO's president.
"I am pleased that SIGTTO is playing a leading role in the launch of this new NGO.
"We believe that our participation will yield benefits for not only the gas shipping industry but also the general maritime community."
SIGTTO, which represents gas shipping and terminal operators, said LNG bunkering is outside its official area of focus, but the group has "unparalleled experience" in LNG handling, including using cargo boil off gas in LNG carrier propulsion systems.
Membership in SGMF will be open to stakeholders in LNG bunkering, including bunker suppliers, ship-owners, bunker barge operators, and regulators.
Last year, SIGTTO helped establish the Natural Gas Marine Fuel Safety Advisory Group (NGMFSAG), an organisation focused on the design, operation, and safety of LNG bunkering logistics.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 560.50 | 7.00 | 669.00 | 4.00 |
| Rotterdam | 512.50 | 2.00 | 653.00 | 2.00 |
| Houston | 548.00 | 3.00 | 671.00 | 0.00 |
| Fujairah | 549.00 | 6.00 | 747.00 | 0.00 |
| Global 20 Ports Average | 577.50 | 3.50 | 749.50 | 1.50 |
| Global 4 Ports Average | 542.50 | 3.50 | 685.00 | 0.50 |
| Global Average Bunker Price | 628.50 | 1.50 | 800.50 | 1.00 |
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