World News
SIBCON22: SEA-LNG Study Forecasts 30% Drop in Bio-LNG Bunker Costs by 2030
LNG bunkering advocates SEA-LNG have published a new study estimating bio-LNG costs could drop by as much as 30% by 2030.
The introduction of large-scale anaerobic digestion plants delivering lower production costs would be the main reason for prices to fall, according to the study, published this week as part of the Sibcon industry events in Singapore.
The study was produced by the Maritime Energy and Sustainable Development Centre of Excellence at Singapore's Nanyang Technological University, on behalf of SEA-LNG.
The research also estimates pure bio-LNG could take up as much as 3% of the total marine energy mix by 2030 and 13% in 2050, and that blends of 20% bio-LNG with fossil gas could take up as much as 16% of the mix in 2030 and 63% in 2050.
"The decarbonisation of shipping will require the use of multiple low and zero carbon fuels," Peter Keller, chairman of SEA-LNG, said in an emailed statement.
"Every fuel has its own individual, but similar, pathway to net zero.
"When assessing decarbonisation options for the maritime sector it is essential that each pathway is properly evaluated, not simply the destination.
"It is crucial that decision making is guided by accurate information that assesses each alternative fuel pathway on a like-for-like and full life-cycle basis (Well-to-Wake)."
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 624.50 | 1.00 | 732.00 | 8.50 |
| Rotterdam | 571.00 | 3.00 | 758.00 | 16.50 |
| Houston | 591.50 | 4.00 | 760.00 | 5.50 |
| Fujairah | 629.00 | 0.50 | 877.50 | 3.00 |
| Global 20 Ports Average | 637.00 | 0.00 | 819.00 | 3.00 |
| Global 4 Ports Average | 604.00 | 0.00 | 782.00 | 5.50 |
| Global Average Bunker Price | 688.00 | 2.50 | 879.00 | 1.00 |
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