World News
IEA Sees LNG Bunker Demand Triple in Four Years
LNG bunker demand may triple by 2024, according to the International Energy Agency.
The IEA published the forecast in its latest quarterly Gas Market Report, released this week.
The report suggests LNG bunker demand could reach almost 7 bcm by 2024, triple the level seen in 2020.
"The fleet of LNG-propelled vessels (excluding LNG carriers) is projected to expand by nearly 160% between 2020 and 2024," the organisation said in the report.
"The inability of LNG to meet the IMO's long-term GHG reduction targets, however, casts doubt about the sustainability of LNG demand growth in the shipping sector beyond our forecast horizon.
"LNG consumption for domestic shipping is expected to double during the 2020-24 period, led primarily by China, and – to a lesser extent – Europe."
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 647.50 | 1.00 | 770.00 | 3.50 |
| Rotterdam | 601.50 | 2.50 | 754.00 | 2.00 |
| Houston | 619.00 | 11.50 | 795.50 | 3.00 |
| Fujairah | 651.50 | 1.00 | 895.00 | 2.00 |
| Global 20 Ports Average | 664.00 | 1.50 | 856.50 | 2.00 |
| Global 4 Ports Average | 630.00 | 3.00 | 803.50 | 2.50 |
| Global Average Bunker Price | 718.00 | 0.50 | 914.50 | 0.50 |
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