World News
Socgen Joins Pro-LNG Bunker Fuel Group
French ship finance bank Societe Generale has thrown its weight behind alternative marine fuels by joining an industry coalition promoting the use of liquified natural gas (LNG) as bunker fuel.
The finance house is the first financial institution to join the SEA\LNG group.
"Societe Generale wants to play a key role in supporting the SEA\LNG coalition to realise its goal of making LNG a viable maritime fuel for 2020 and beyond," said Paul Taylor, head of ship finance at the bank.
"This strategic membership will help develop a long-term financial framework which we hope will contribute to, and supplement, the work of other industry leaders in the LNG shipping value chain," he added.
SEA\LNG, which includes Shell LNG, Total, Mitsubishi, Carnival and Clean Marine Energy, seeks to address and overcome current challenges impacting the global uptake of LNG.
Societe General took the lead in securing the finance for Brittany Ferries gas-fuelled ferry Honfleur.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 645.00 | 2.00 | 767.50 | 11.50 |
| Rotterdam | 600.00 | 8.00 | 751.50 | 13.00 |
| Houston | 627.50 | 9.00 | 796.00 | 11.50 |
| Fujairah | 649.50 | 0.00 | 889.00 | 0.50 |
| Global 20 Ports Average | 665.00 | 0.50 | 864.00 | 6.50 |
| Global 4 Ports Average | 630.50 | 5.00 | 801.00 | 9.00 |
| Global Average Bunker Price | 722.50 | 2.50 | 922.50 | 3.00 |
Popular Now More
-
Apr 19The firm has chartered the 7,994 DWT barge Margherita to add to the operation, operated by Fratelli Cosulich. -
Apr 18Singapore's authorities are in the process of developing a regulatory framework for a methanol bunkering licence, and plan to call for applications for the licence by the end of this year. -
Apr 19The company is looking for candidates with proven experience in bunker trading and demonstrated leadership experience.