World News
"Interesting Time Ahead" for Cost Effective LNG Bunker Distribution Tech, Says LNG Network Norway
The cost-effectiveness of liquefied natural gas (LNG) bunker barges will see an "interesting time ahead" as new technical concepts are developed, says Egil Rensvik, Project Manager for LNG Network Norway, who spoke to Ship & Bunker ahead of his presentation at this week's Singapore Maritime Week 2017.
Rensvik says that, because LNG tanks require more space than an ordinary fuel oil tank, the dimensions and cost of a LNG barge are both impacted - an issue that ship design firms have been working to address.
"There are new push-barge concepts under development which indicates a lower cost for this solution," said Rensvik.
"We will see an interesting time ahead with new cost effective technical concepts in the whole value chain for Small and medium scale LNG distribution and use."
Rensvik notes that the design of an LNG barge must follow the International Maritime Organization (IMO) requirements, class rules, and shipowners' requirements, as well as any applicable local requirements.
"One issue that is on the top of the international agenda is to come up with requirement for a standard coupling for the connection of the liquid and vapour transfer. A new working group in IMO will be established for this work item," explained Rensvik
Network LNG Norway represents several Norwegian LNG companies working close with international partners to establish the optimal solution for the LNG Value chain for customers.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 646.50 | 5.50 | 773.50 | 11.50 |
| Rotterdam | 604.00 | 5.00 | 756.00 | 5.00 |
| Houston | 630.50 | 1.00 | 798.50 | 4.00 |
| Fujairah | 650.50 | 3.00 | 897.00 | 13.50 |
| Global 20 Ports Average | 662.50 | 1.00 | 858.50 | 0.50 |
| Global 4 Ports Average | 633.00 | 3.50 | 806.00 | 6.50 |
| Global Average Bunker Price | 718.50 | 0.50 | 914.00 | 1.00 |
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