World News
LNG Bunker Demand to Top 5 Million MT/Year by 2024: Shell
Demand for LNG as a bunker fuel is set to grow past 5 million mt/year by 2024, according to global energy producer Shell.
Total LNG bunker demand will grow from about 2.3 million mt/year in 2021 to about 3 million mt this year, to 4.6 million mt/year in 2023 and to 5.2 million mt/year in 2024, Shell said in its LNG Outlook 2022 report, published on Monday. The total compares to global bunker demand of about 216.4 million mt for 2020.
The firm sees about 30% of current vessel orders by tonnage as being capable of running on LNG.
The largest centre of demand for LNG as a bunker fuel so far has been Rotterdam, where LNG bunker demand surged by 187% to 603,690 m3 last year. Singapore also launched LNG bunkering in 2021, noting 50,000 mt of sales.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 610.00 | 7.50 | 690.00 | 14.00 |
| Rotterdam | 545.00 | 4.50 | 678.50 | 13.00 |
| Houston | 554.00 | 1.50 | 687.50 | 2.00 |
| Fujairah | 596.50 | 4.00 | 782.50 | 0.50 |
| Global 20 Ports Average | 616.00 | 1.00 | 763.50 | 6.50 |
| Global 4 Ports Average | 576.50 | 4.50 | 709.50 | 7.00 |
| Global Average Bunker Price | 657.00 | 4.00 | 831.50 | 7.00 |
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