World News
Sumitomo, Arkas to Develop LNG Bunker Supply Business in Turkey
Wednesday October 17, 2018
Japan's Sumitomo Corp has signed an agreement with Arkas Bunkering to develop a liquified natural gas (LNG) bunker supply business in Turkey.
Both companies see increase update for LNG on the back of tightening environmental regulations.
Arkas is an established physical player in the country, laying claim to supplying one out of every three vessels in Turkey for 2017.
The supplier believes Turkey can become a leading LNG centre in the Eastern Mediterranean.
Sumitomo, meanwhile, is a global LNG player that is already looking to establish a ship-to-ship LNG bunkering operation in Japan.
The company says the experience gained from that venture will help it develop LNG bunkering in Turkey.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 647.50 | 1.00 | 770.00 | 3.50 |
| Rotterdam | 601.50 | 2.50 | 754.00 | 2.00 |
| Houston | 619.00 | 11.50 | 795.50 | 3.00 |
| Fujairah | 651.50 | 1.00 | 895.00 | 2.00 |
| Global 20 Ports Average | 664.00 | 1.50 | 856.50 | 2.00 |
| Global 4 Ports Average | 630.00 | 3.00 | 803.50 | 2.50 |
| Global Average Bunker Price | 718.00 | 0.50 | 914.50 | 0.50 |
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