World News
Bunker Holding Plans to Set Up LNG Physical Bunker Supply Firm
Marine fuels conglomerate Bunker Holding is planning a significant jump into the LNG bunkering space, planning to set up a physical supply business for the alternative fuel.
The company published a job advertisement on Tuesday for the managing director of the new LNG business. The new unit will be based in Rotterdam.
"Our managing director LNG will develop LNG and bio-LNG physical business in Northwest Europe," the company said in the advertisement.
"The managing director LNG will play a key role in ensuring that the world's leading supplier of marine fuels has the physical operational know how to safely deliver LNG and bio-LNG to our global customer base."
The move is a significant vote of confidence in the future prospects of LNG and its green equivalents in the marine energy space.
LNG has come under fire from environmentalists in recent years for being another fossil fuel and a distraction from more sustainable solutions, while its supporters see it as a step in the right direction, and a bridge to the use of greener bio- and synthetic LNG in future as these fuels emerge at scale.
The company plans to charter LNG bunker barges as part of the new unit, it said in the advertisement.
Rotterdam's LNG bunker sales jumped by 52.3% to 619,243 m3 in 2023, a record high.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 649.00 | 0.50 | 775.00 | 3.50 |
| Rotterdam | 603.50 | 1.50 | 759.50 | 11.50 |
| Houston | 626.50 | 2.50 | 794.00 | 2.00 |
| Fujairah | 649.00 | 0.50 | 904.50 | 6.50 |
| Global 20 Ports Average | 664.00 | 2.00 | 855.00 | 0.00 |
| Global 4 Ports Average | 632.00 | 1.00 | 808.00 | 4.00 |
| Global Average Bunker Price | 716.50 | 1.00 | 901.00 | 12.50 |
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