World News
Matson Joins SEA-LNG
Matson [NYSE: MATX] today announced it is the latest firm to join LNG bunker advocate group SEA-LNG.
The move follows the Pacific ocean transport player's June order for a dual-fuel LNG retrofit of one of its vessels.
SEA-LNG are arguably the most vocal advocates of LNG bunkers, and presumably will welcome the growing membership numbers in the face of continued pushback against the uptake of LNG as part of Shipping's decarbonization effort.
The respective lobbies' most recent exchange of views originated from a new UCL Energy Institute report that looked to discredit the LNG lobby's position that today's fossil-LNG assets will remain relevant in the future thanks to the uptake of bio and synthetic LNG.
In comments made alongside today's announcement, Matt Cox, Chairman and CEO, Matson, took the opportunity to reiterate the LNG lobby's faith in the role gas bunkers will play as part of Shipping's decarbonization efforts.
“The LNG pathway is an important part of our strategy for reducing the greenhouse gas emissions of our fleet by 40% by 2030 and achieving net-zero emissions by 2050," said Cox.
"The transition to bioLNG and in the longer term e-LNG, as well as continuing to improve the commercial availability of conventional LNG worldwide, will be critical to achieving our goals. We believe SEA-LNG will be a valuable partner on this journey and we look forward to working with them."
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 571.00 | 1.50 | 685.50 | 5.50 |
| Rotterdam | 516.50 | 1.50 | 677.50 | 3.50 |
| Houston | 556.00 | 6.00 | 679.00 | 1.00 |
| Fujairah | 565.00 | 4.50 | 755.00 | 1.50 |
| Global 20 Ports Average | 589.00 | 3.00 | 764.50 | 3.50 |
| Global 4 Ports Average | 552.00 | 3.00 | 699.00 | 2.50 |
| Global Average Bunker Price | 635.50 | 1.00 | 811.50 | 11.00 |
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