World News
Vitol Takes on Three LNG Bunkering Vessels
Global commodity trading firm Vitol is taking a significant leap into the LNG bunker market, taking on three LNG bunkering vessels.
The firm has ordered one 12,500 m3 ship and a 20,000 m3 one from CIMC Sinopacific Offshore & Engineering in China, and chartered a new 20,000 m3 one from Avenir LNG, it said in an emailed statement on Wednesday.
The chartered ship will enter service after its delivery in the fourth quarter of 2026, and the new owned ships will be delivered in Q4 2026 and Q3 2027.
"Shipowners worldwide are looking to reduce their emissions," Pablo Galante Escobar, head of LNG, gas and power for EMEA at Vitol, said in the statement.
"We are delighted to strengthen our offering to them by investing in LNG/bioLNG bunkering, thereby increasing their options."
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 569.50 | 0.00 | 680.00 | 0.00 |
| Rotterdam | 515.00 | 1.00 | 674.00 | 2.00 |
| Houston | 550.00 | 2.50 | 678.00 | 6.50 |
| Fujairah | 560.50 | 0.50 | 753.50 | 2.50 |
| Global 20 Ports Average | 586.00 | 0.00 | 761.00 | 2.00 |
| Global 4 Ports Average | 549.00 | 1.00 | 696.50 | 2.00 |
| Global Average Bunker Price | 634.50 | 1.00 | 800.50 | 2.00 |
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