World News
SEA-LNG Backs LBM/Bio-LNG as Practical Pathway Ahead of IMO Meeting
LNG bunker industry body SEA-LNG has voiced its support for LBM or bio-LNG as practical pathways in shipping's transition to lower GHG emissions, ahead of next week's IMO meeting.
SEA-LNG argues that collaboration across the LNG value chain is helping to reduce emissions and strengthen the case for these fuels as part of a long-term shipping decarbonisation pathway, the group said in an emailed statement on Tuesday.
The group pointed to technology gains that have lowered engine methane slip and claimed well-to-wake emissions have fallen over the past few years.
"Energy producers have cut well-to-wake emissions by a quarter in the same period," SEA-LNG said.
"Engine manufacturers have taken practical steps to almost halve the emissions performance of those engines with methane slip."
The IMO's Marine Environment Protection Committee (MEPC) will hold its second extraordinary session from October 14 to 17 to decide on the adoption of the Net-Zero Framework.
"The evidence is clear: LNG is delivering emissions reductions now and providing a practical pathway to net-zero through biomethane and e-methane," Peter Keller, chairman of SEA-LNG, said.
"Independent studies by Sphera and Rystad Energy confirm a steady decline in well-to-tank emissions from LNG over the past decade," Steve Esau, COO of SEA-LNG, said.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 461.00 | 6.00 | 717.50 | 26.00 |
| Rotterdam | 441.50 | 6.00 | 680.00 | 17.50 |
| Houston | 464.50 | 3.50 | 674.00 | 4.00 |
| Fujairah | 454.50 | 5.50 | 752.50 | 7.00 |
| Global 20 Ports Average | 498.50 | 5.50 | 766.00 | 11.00 |
| Global 4 Ports Average | 455.50 | 3.50 | 706.00 | 13.50 |
| Global Average Bunker Price | 539.00 | 5.50 | 798.00 | 9.00 |
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