World News
Balearia Saw 36% Jump in LNG Bunker Purchases in 2021
Spanish ferry company Balearia saw its consumption of LNG as a bunker fuel jump by more than a third last year despite a record price surge.
The firm's LNG bunker consumption rose by 36% on the year, it said in annual results published on Thursday. The company's use of LNG allowed it to avoid 56,000 mt of CO2 emissions last year, according to its calculations.
The jump in LNG bunker consumption came despite last year's record jump in gas prices that forced Balearia to restrict its use to port-based operations from October.
"This is a temporary measure that we adopted out of responsibility and to preserve the viability of the company in the face of the escalating price of this fuel," Adolfo Utor, chairman of Balearia, said in the statement.
The company carried 2,911,000 people and 765,000 vehicles last year, up by 38% and 29% respectively from 2020's levels, but down by 34% and 28% respectively from pre-pandemic levels.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 567.50 | 3.50 | 700.00 | 14.50 |
| Rotterdam | 512.50 | 4.00 | 695.00 | 17.50 |
| Houston | 556.00 | 6.00 | 679.00 | 1.00 |
| Fujairah | 562.50 | 2.50 | 755.00 | 0.00 |
| Global 20 Ports Average | 589.00 | 3.00 | 764.50 | 3.50 |
| Global 4 Ports Average | 552.00 | 3.00 | 699.00 | 2.50 |
| Global Average Bunker Price | 635.50 | 1.00 | 811.50 | 11.00 |
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