World News
Shipping Firm Viking Line Held LNG Bunker Purchases Steady in 2022
Shipping company Viking Line kept its LNG bunker purchases roughly stable in 2022 despite last year's surge in gas prices.
The firm consumed 12,155 mt of LNG in 2022, down by 2.9% from 2021's level, it said in its 2022 sustainability report on Thursday.
The company's conventional bunker consumption rose by 46% on the year to 74,478 mt.
Several companies with duel-fuelled vessels capable of running on both LNG and conventional bunkers switched to VLSFO or MGO last year as the war in Ukraine delivered a surge in global gas prices.
LNG bunker sales at Rotterdam dropped by 45.7% on the year, while sales in Singapore slumped by 68%.
LNG bunker prices in fuel oil terms delivered at Rotterdam peaked at $3,660/mt on August 30 of last year, according to Ship & Bunker data, up by 233.6% from the pre-war level seen on February 23.
Viking Line operates two dual-fuelled ferries, the Viking Grace and the Viking Glory. The firm plans to operate both on bio- or synthetic LNG 'when these are available in the future', the company said in the report.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 624.50 | 1.00 | 732.00 | 8.50 |
| Rotterdam | 571.00 | 3.00 | 758.00 | 16.50 |
| Houston | 591.50 | 4.00 | 760.00 | 5.50 |
| Fujairah | 629.00 | 0.50 | 877.50 | 3.00 |
| Global 20 Ports Average | 637.00 | 0.00 | 819.00 | 3.00 |
| Global 4 Ports Average | 604.00 | 0.00 | 782.00 | 5.50 |
| Global Average Bunker Price | 688.00 | 2.50 | 879.00 | 1.00 |
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