Asia/Pacific News
SIBCON2026: MPA to Invite LNG Floating Storage Licences Applications by End-2026
The Maritime and Port Authority of Singapore (MPA) will invite licence applications by the end of 2026 to operate LNG floating storage units in Singapore's anchorages, subject to regulatory approvals.
The floating storage units will expand storage capacity and strengthen supply resilience as Singapore develops its LNG bunkering market, MPA said in an announcement today.
MPA announced the plan at the 24th Singapore International Bunkering Conference (SIBCON) event, which is being held from October 13 to 15.
The move comes after MPA awarded LNG bunker supplier licences to eight companies in July 2026.
Before the latest awards, the city-state had three licensed LNG bunker suppliers: FuelLNG, Pavilion Gas and TotalEnergies Marine Fuels.
Singapore sold 571,400 mt of LNG bunkers in 2025, up 23.1% year-on-year, according to Ship & Bunker's analysis of MPA data.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 907.00 | 14.50 | 1261.00 | 13.50 |
| Rotterdam | 736.50 | 1.50 | 1381.50 | 13.00 |
| Houston | 763.00 | 5.50 | 1396.00 | 2.50 |
| Fujairah | 987.50 | 14.50 | 1687.00 | 10.00 |
| APAC Average | 996.00 | 2.50 | 1457.50 | 3.00 |
| Global 20 Ports Average | 896.00 | 8.50 | 1518.00 | 1.50 |
| Global 4 Ports Average | 848.50 | 9.00 | 1431.50 | 10.00 |
| Global Average Bunker Price | 948.00 | 4.00 | 1585.00 | 0.50 |
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