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IBIA CONVENTION: Titan Projects Bio-LNG Demand About to Take Off
LNG bunker supplier Titan is projecting a significant increase in bio-LNG demand in the near future as owners of gas-powered tonnage start to shift to greener alternatives to fossil LNG.
The firm -- which now regularly supplies fossil LNG at about 40 ports -- has been seeking to sell bio-LNG as well for the past five years, Niels Alexander den Nijs, CEO of Titan, told Ship & Bunker at the IBIA Annual Convention 2024 in Athens on Wednesday.
The company is now selling about 1,000 mt per month of bio-LNG.
"With FuelEU at our back now, this is something that we see taking off," den Nijs said.
The FuelEU Maritime regulation comes into effect at the start of 2025, setting progressively tougher carbon intensity requirements for the fuels used by shipping companies operating in Europe.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 596.50 | 0.50 | 688.00 | 1.00 |
| Rotterdam | 523.00 | 2.50 | 677.00 | 1.00 |
| Houston | 550.50 | 0.00 | 676.50 | 8.00 |
| Fujairah | 582.00 | 2.50 | 758.50 | 5.50 |
| Global 20 Ports Average | 599.50 | 0.50 | 757.50 | 2.00 |
| Global 4 Ports Average | 563.00 | 1.50 | 700.00 | 4.00 |
| Global Average Bunker Price | 644.50 | 1.50 | 813.50 | 0.50 |
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