World News
Supply, Demand of LNG Bunkers Continues to Rise
The adoption of LNG as a marine fuel may not yet have spiked as some industry watchers predicted, but both the supply and demand of LNG bunkers is continuing to rise.
According to the latest figures from advocate group Society for Gas as a Marine Fuel (SGMF), there are now 81 ports that supply LNG as marine fuel, with 185 fuelled ships in operation and a further 231 on order.
This compares to September numbers when LNG bunkers were being supplied at 75 ports, with 170 LNG-fuelled ships in operation and 164 on order.
In addition, there are now 10 LNG bunkering vessels in operation.
The LNG lobby has also added to its ranks, with LNG bunker advocacy group SEA-LNG recently welcoming to its membership SOHAR Port and Freezone, its first Middle Eastern port member, and the Port of Long Beach, the USA’s second busiest container port.
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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