World News
Shell Predicts LNG Bunker Demand to Reach 16 Million Mt/Year by 2030
Oil major Shell projects LNG bunker demand to reach 16 million mt/year by 2030, with around 11 million mt coming from LNG-fuelled container ships.
Shell also predicts LNG-fuelled ships to comprise a significant portion of the new vessel order book, it said in its LNG Outlook 2025 report.
It sees LNG bunkering infrastructure already in place at several locations, with more under development.
Bio-LNG production is expected to reach nearly 18 billion cubic metres (bcm) by the end of the decade, with new production streams emerging in North America. Bio-LNG is a cleaner alternative to fossil LNG and can be used in dual-fuel LNG vessels, without requiring major modifications.
Separately, Shell noted that LNG cargo trade reached 407 million mt in 2024, an increase of 3 million mt from 2023. However, this was the slowest growth in 10 years.
“Demand for LNG strengthened in Asia during the first half of 2024 as China took advantage of lower prices and India bought more cargoes to help meet strong power demand due to hot summer weather,” it said in its annual report.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 532.00 | 3.00 | 658.00 | 4.00 |
| Rotterdam | 504.00 | 5.00 | 663.00 | 10.50 |
| Houston | 531.00 | 4.50 | 685.00 | 4.00 |
| Fujairah | 527.00 | 2.50 | 747.00 | 0.00 |
| Global 20 Ports Average | 560.00 | 2.00 | 760.00 | 2.00 |
| Global 4 Ports Average | 523.50 | 1.50 | 688.00 | 4.50 |
| Global Average Bunker Price | 597.50 | 2.50 | 792.00 | 4.50 |
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