World News
Studies Predict Rising Adriatic LNG Use From 2030 Onward
Studies presented last week at a conference in the port of Koper, Slovenia showed that the facility, along with a number of its Adriatic counterparts, are set for a rise in LNG demand, LNG World News reported.
Results from the EU's TEN-T program, aimed at strategy for promoting LNG as a marine fuel, showed that the Adriatic ports of Koper, Trieste, and Rijeka will see LNG demand of 20,000 tons from 2030 onward.
It was said that the port of Venice will reach LNG demand of 160,584 tons for maritime transport by 2030, while total LNG consumption would hit 794,207 tons.
Presenters at the conference suggested that, in addition to LNG bunkers, demand will come from vessels, trucks, and port equipment, with total demand at the four ports above hitting 950,000 tons from 2030, it was reported.
Lloyd's Register's Mario Croce and Marco Nardo reportedly told the conference that one obstacle to this development is a lack of bunkering infrastructure and supply chain networks.
Ship owners are unwilling to invest in LNG-fueled newbuilds due to a lack of bunkering facilities, while gas providers are reluctant to build infrastructure until demand firms up, the Lloyd's representatives were said to have noted.
In September 2015, Ship & Bunker reported that industry groups still see LNG as a competitive marine fuel, despite the recent fall in prices for competing, oil-derived products.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
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| Rotterdam | 477.00 | 1.00 | 618.50 | 4.00 |
| Houston | 469.50 | 0.50 | 610.00 | 2.00 |
| Fujairah | 501.50 | 1.50 | 708.50 | 3.50 |
| Global 20 Ports Average | 532.00 | 2.00 | 711.50 | 0.00 |
| Global 4 Ports Average | 489.50 | 0.50 | 637.00 | 0.50 |
| Global Average Bunker Price | 571.00 | 1.00 | 759.00 | 0.50 |
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