World News
Pavilion Energy Delivers Singapore's First LNG Bunkering Demonstration
A liquefied natural gas (LNG) bunkering demonstration by Pavilion Energy today in Singapore marked the first time a port in Southeast Asia has seen LNG supplied to a ship as fuel, local media reports.
The truck-to-ship bunkering operation took place at Jurong Port.
"Moving ahead, the establishment of robust LNG bunkering ecosystem will add to Singapore's offerings as an Asian LNG hub," said Seah Moon Ming, CEO at Pavilion Energy.
"Not only can Singapore serve as a physical and financial hub for LNG trading, but also for small-scale LNG and LNG bunkering activities."
Koh Poh Koon, Senior Minister of State for Trade and Industry, commenting at the demonstration, said that Singapore is on course to be "LNG bunker-ready" by as soon as 2020.
"As the world's largest bunkering port, Singapore remains committed to ensuring that the maritime industry has access to cleaner marine fuels," said Koh.
"The expansion of our LNG infrastructure and capabilities will further increase opportunities for LNG trading and bunkering, which are important elements for a regional gas hub."
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 556.00 | 9.50 | 674.00 | 4.50 |
| Rotterdam | 507.00 | 5.00 | 663.50 | 12.50 |
| Houston | 549.50 | 2.50 | 677.00 | 5.00 |
| Fujairah | 548.50 | 7.00 | 748.50 | 4.50 |
| Global 20 Ports Average | 580.00 | 3.50 | 761.00 | 1.50 |
| Global 4 Ports Average | 540.00 | 6.50 | 691.00 | 6.50 |
| Global Average Bunker Price | 625.50 | 7.00 | 809.50 | 1.50 |
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