World News
LNG Carrier Firm May Expand into LNG Bunkering Logistics
Liquefied natural gas (LNG) carrier company GasLog is considering getting involved in the market for LNG as a bunker fuel, CEO Paul Wogan told investors on a recent earnings call.
"I think you will see LNG being used much more as a bunker fuel for shipping going forward as the regulations tighten up on emissions, I think that could be an area for us, especially in or around the logistics of that and hub and spoke and making sure that that is available as a bunker fuel for ships," Wogan said.
The CEO said the company is also looking into involvement with the floating storage and regasification unit market (FSRU), arguing that the company has relevant technical expertise.
"With what we've seen happening in Russia and the Ukraine recently, I think is only adding to people understanding the strategic value of having re-gasification terminals," he said.
GasLog's owned fleet of LNG carriers includes 14 ships operating now and nine set for delivery by 2017, with the majority of the vessels using tri-fuel diesel engines, according to its website.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 523.00 | 7.50 | 685.00 | 7.50 |
| Rotterdam | 518.50 | 2.00 | 728.00 | 5.00 |
| Houston | 496.50 | 0.50 | 701.50 | 1.50 |
| Fujairah | 516.50 | 5.50 | 732.50 | 1.50 |
| Global 20 Ports Average | 554.00 | 3.50 | 779.00 | 6.50 |
| Global 4 Ports Average | 513.50 | 4.00 | 712.00 | 1.00 |
| Global Average Bunker Price | 590.50 | 4.50 | 820.00 | 4.00 |
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