World News
Platts to Price LNG Bunkers
Thursday August 29, 2019
Price-reporting agency Platts, which is part of S&P Global, is to assess liquefied natural gas (LNG) bunkers.
The price assessments will start next week for Singapore and Rotterdam.
The company says it is responding to increased queries from the industry to find the prevailing cost of LNG as bunker fuel and is looking to extend transparency on pricing in the sector, according to Reuters.
Platts currently assesses the Japan-Korea-Marker price, which is gaining more acceptance as an Asian benchmark for spot LNG cargoes, the report said.
In a wider context, LNG bunker fuel is seen as a viable alternative to oil-derived fuels although the infrastructure required to deliver the fuel to the global fleet has been lacking in most ports.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 556.00 | 9.50 | 674.00 | 4.50 |
| Rotterdam | 507.00 | 5.00 | 663.50 | 12.50 |
| Houston | 549.50 | 2.50 | 677.00 | 5.00 |
| Fujairah | 548.50 | 7.00 | 748.50 | 4.50 |
| Global 20 Ports Average | 580.00 | 3.50 | 761.00 | 1.50 |
| Global 4 Ports Average | 540.00 | 6.50 | 691.00 | 6.50 |
| Global Average Bunker Price | 625.50 | 7.00 | 809.50 | 1.50 |
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