World News
Pro-LNG Group Throws Weight Behind IMO Non-Compliant Fuel Carriage Ban
SEA\LNG, a cross-sector body in favour of liquified natural gas (LNG) as bunker fuel, is supporting the carriage ban on non-compliant fuels proposed by the International Maritime Organisation (IMO).
Draft proposals from a sub-committee of the IMO's pollution committee (MEPC) will go the MEPC's next meeting in April.
"We urge formal approval of this proposal at MEPC 72 in April to ensure early adoption at MEPC 73 (in October)," said Peter Keller, SEA\LNG chairman and Tote executive vice president, Tote.
"This will allow the shipping industry to work with the IMO, Flag, and Port State authorities to develop robust and consistent enforcement processes in a timely manner," Keller added.
LNG bunker fuel is seen as an alternative to oil-derived fuel oil. In 2020, a lower sulfur cap on bunker fuel (from 3.5% to 0.5%) could make gas bunkering more attractive to ship operators.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 647.50 | 1.00 | 770.00 | 3.50 |
| Rotterdam | 601.50 | 2.50 | 754.00 | 2.00 |
| Houston | 619.00 | 11.50 | 795.50 | 3.00 |
| Fujairah | 651.50 | 1.00 | 895.00 | 2.00 |
| Global 20 Ports Average | 664.00 | 1.50 | 856.50 | 2.00 |
| Global 4 Ports Average | 630.00 | 3.00 | 803.50 | 2.50 |
| Global Average Bunker Price | 718.00 | 0.50 | 914.50 | 0.50 |
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