World News
LNG Lobby Welcomes Provisional Deal on FuelEU Maritime Regs
Prominent LNG bunker advocacy group SEA-LNG has welcomed last weeks provisional deal by The European Council and European Parliament on amendments to the proposed FuelEU Maritime regulation that will mandate the gradual reduction of marine fuels' carbon intensity.
One of the sticking points for LNG's role in the future marine fuel mix is that is that it a fossil fuel, but LNG advocates have long proposed a pathway for gas bunkers that ultimately sees fossil-LNG infrastructure used to deliver non-fossil LNG.
"SEA-LNG applauds the efforts of all of those involved in the FuelEU Maritime for their efforts to reach an agreement on what is a key regulation," SEA-LNG said in a statement released following the provisional deal.
"In particular, SEA-LNG welcomes the fact that LNG and the pathway to bio and renewable synthetic e-LNG will play a key role in delivering this provisional agreement. We look forward to continuing our work with the EU institutions to ensure a swift adoption and engaging with the European Commission to ensure a uniform implementation of the Regulation."
Read More: EU Institutions Reach Provisional Deal on FuelEU Maritime Regulation
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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