World News
LNG Bunker Fuel a Matter of Time Says Greek shipowner
Demand growth for natural gas is what spurs the demand for liquified natural gas (LNG) shipping with the prospect of LNG bunker fuel adding to the energy form's bright future.
That is the view of LNG shipping company executive Peter Livanos, the founder and chairman of Gaslog.
"What would make LNG work (as transportation fuel) is infrastructure," Livanos told maritime news provider Lloyd's List.
"There is no infrastructure today, but if you could get LNG in key locations around the world where you can fuel up your ship, more and more people will use it."
Livanos believes it is only a matter of time before LNG goes mainstream as shipping's fuel of choice, a question of 'when' rather than 'if'.
"It makes sense to do it; natural gas is abundant, it's relatively inexpensive to produce, it's thermal efficient and it is one of the cleanest hybrid carbons."
While LNG is considered as a viable alternative to conventional fuel oil, the number of LNG bunker barges is small as is the number of ships using LNG as their primary fuel. French boxship giant CMA CGM brought the prospect of mainstream LNG bunker fuel nearer when it put in an order for nine gas-fuelled box ships earlier this year. However, it remains to be seen whether or not LNG will supplant oil-derived fuel products in the future.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 641.00 | 4.00 | 762.00 | 5.50 |
| Rotterdam | 599.00 | 1.00 | 751.00 | 0.50 |
| Houston | 629.50 | 2.00 | 802.50 | 6.50 |
| Fujairah | 647.50 | 2.00 | 883.50 | 5.50 |
| Global 20 Ports Average | 661.50 | 3.50 | 859.00 | 5.00 |
| Global 4 Ports Average | 629.50 | 1.00 | 799.50 | 1.50 |
| Global Average Bunker Price | 719.00 | 3.50 | 915.00 | 7.50 |
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