World News
Singapore, Rotterdam to Continue Cooperating on LNG Bunkering
The Maritime and Port Authority of Singapore (MPA) and Port of Rotterdam Authority (PoR) have renewed their Memorandum of Understanding (MoU) on cooperation in Information Exchange and Research and Development (R&D).
First signed in 2015, the MoU between the two key bunkering hubs covers several areas of cooperation including LNG bunkering and Next Generation Vessel Traffic Management Systems.
"This renewal of the MoU between PoR and MPA reaffirms the commitment of both parties to jointly collaborate and exchange best practices and new ideas. Collaboration in maritime cybersecurity, LNG bunkering and innovation not only fosters partnerships between MPA and PoR, but also benefits the maritime innovation ecosystem," said Mr Andrew Tan, Chief Executive of MPA.
The MoU renewal was signed Wednesday on the sidelines of the 4th Port Authorities Roundtable (PAR) held in Long Beach, USA.
MPA recently awarded energy firms FueLNG and Pavillion Gas a S$3 million ($2.2m) grant to build LNG bunkering vessels in Singapore.
Rotterdam, meanwhile, in Q1 sold 729 metric tonnes (mt) of LNG bunkers.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 649.50 | 2.00 | 778.50 | 8.50 |
| Rotterdam | 602.00 | 0.50 | 748.00 | 6.00 |
| Houston | 624.00 | 5.00 | 792.00 | 3.50 |
| Fujairah | 649.50 | 2.00 | 898.00 | 3.00 |
| Global 20 Ports Average | 662.00 | 2.00 | 855.00 | 1.50 |
| Global 4 Ports Average | 631.00 | 1.00 | 804.00 | 0.50 |
| Global Average Bunker Price | 717.50 | 0.50 | 913.50 | 1.00 |
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