World News
DNV GL: Qatar's Entry into LNG Bunkering will be a "Game-Changer"
DNV GL says it is launching a Recommended Practice on liquefied natural gas (LNG) bunkering in the Middle East and South Asia in connection with Qatar's decision to supply LNG bunkers in the region.
"Qatar's entry as a provider of LNG for the marine industry will be a game-changer given that it is the largest single exporter of LNG globally," said Shahrin Osman, DNV GL regional manager of Maritime Advisory for the Middle East and India.
"Concurrently launching the RP will ensure bunkering operations are predictable, safe and compatible in Qatar, across the Middle East and the rest of the world."
The global industry now has 100 LNG-fuelled ships either in operation or under order, and the class society said there is no doubt that the fuel will become a major part of the shipping world.
DNV GL is working to help develop international standards for use of the fuel, which it says has "lagged behind" ship orders.
The Recommended Practice seeks to create the guidelines and recommendations needed to protect people and the environment.
"Another important reason for launching the RP is to minimise the barriers to entry in this market by establishing common equipment and procedural requirements worldwide," Osman said.
"This will allow more players to enter the market so that individual ships are not limited to bunkering in just a few locations."
Qatar has been seeking ways to market natural gas to the European shipping industry.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 644.50 | 2.50 | 765.00 | 14.00 |
| Rotterdam | 607.50 | 0.50 | 764.50 | 24.50 |
| Houston | 632.50 | 4.00 | 807.50 | 5.00 |
| Fujairah | 650.50 | 1.00 | 882.50 | 6.00 |
| Global 20 Ports Average | 665.50 | 6.50 | 870.50 | 14.50 |
| Global 4 Ports Average | 635.50 | 3.50 | 810.00 | 17.50 |
| Global Average Bunker Price | 725.00 | 2.50 | 925.50 | 8.00 |
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