World News
Shell Seeks to Double LNG Bunker Barge Fleet by 2025
Friday December 4, 2020
Global energy major Shell plans to double its LNG bunker barge fleet by 2025, according to price reporting agency Argus Media.
The company currently has six LNG delivery vessels in operation or about to start service, and will look to add another six, Argus reported Thursday, citing comments from Shell's executive vice president, Steve Hill.
There are currently 175 ships worldwide running on LNG, and another 232 on order, according to data from DNV GL.
The growth of LNG bunker barges world wide is seen as an important metric for the pace of development of gas-fuelled shipping. While deliveries by truck are suitable for some smaller ships, this method is too slow to be economical for large oceangoing cargo ships.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 565.50 | 4.50 | 678.50 | 4.50 |
| Rotterdam | 512.00 | 3.50 | 676.00 | 9.00 |
| Houston | 552.00 | 3.00 | 682.00 | 4.00 |
| Fujairah | 555.50 | 7.50 | 753.00 | 1.50 |
| Global 20 Ports Average | 583.50 | 4.00 | 762.50 | 2.50 |
| Global 4 Ports Average | 546.50 | 4.50 | 697.50 | 2.50 |
| Global Average Bunker Price | 632.50 | 2.00 | 811.00 | 1.50 |
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