World News
Novatek Gas & Power Joins SGMF and SEA\LNG to Promote LNG Bunkers
Novatek Gas & Power - a subidiary of Russia's NOVATEK - today announced that it has joined the Society for Gas as a Marine Fuel (SGMF) and SEA\LNG to help promote the use of liquefied natural gas (LNG) bunkers.
"The recent adoption of stricter emission standards for marine transportation by 2020 is consistent with our strategy for entering into new prospective LNG market segments including bunkering," said Leonid Mikhelson, Chairman of NOVATEK's Management Board.
"Global environmental requirements create the basis for transiting global fleet toward cleaner types of fuels. We are confident that more shipping companies will opt for LNG to meet these stricter requirements, and we are ready to facilitate the LNG bunkering market and infrastructure development."
Earlier this week, SEA\LNG announced that Yokohama-Kawasaki International Port Corporation (YKIP) had also become a member of the cross-industry coalition that intended accelerate the adoption of LNG as marine fuel.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 645.00 | 2.00 | 767.50 | 11.50 |
| Rotterdam | 600.00 | 8.00 | 751.50 | 13.00 |
| Houston | 627.50 | 9.00 | 796.00 | 11.50 |
| Fujairah | 649.50 | 0.00 | 889.00 | 0.50 |
| Global 20 Ports Average | 665.00 | 0.50 | 864.00 | 6.50 |
| Global 4 Ports Average | 630.50 | 5.00 | 801.00 | 9.00 |
| Global Average Bunker Price | 722.50 | 2.50 | 922.50 | 3.00 |
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