World News
IACS Agrees to Work on LNG Bunkering Guidelines
The International Association of Classification Societies (IACS) has announced it is working towards common guidelines on the bunkering of Liquefied Natural Gas (LNG).
"LNG Bunkering Guidelines are presently being considered by a number of organisations and the IACS initiative will seek to build on what has already been introduced," said IACS in a statement.
The move was agreed at an IACS Council meeting on December 12.
The Council also agreed upon two new "Unified Requirements" for all members as a result of IACS's review of last year's sinking of the MOL Comfort box ship.
The ship split in half during an Indian Ocean voyage and both halves ultimately sunk with an estimated 3,100 tonnes of fuel on board.
IACS members have already announced bunkering guideline documents, such as that issued in October by DNV GL.
The number of LNG fuelled ships is expected by a number of industry players to grow dramatically over the coming years.
ABS this month said it is introducing a "LNG Fuel Ready" notation for shippers wanting the option to switch fuels at a later point.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 523.00 | 7.50 | 685.00 | 7.50 |
| Rotterdam | 518.50 | 2.00 | 728.00 | 5.00 |
| Houston | 496.50 | 0.50 | 701.50 | 1.50 |
| Fujairah | 516.50 | 5.50 | 732.50 | 1.50 |
| Global 20 Ports Average | 554.00 | 3.50 | 779.00 | 6.50 |
| Global 4 Ports Average | 513.50 | 4.00 | 712.00 | 1.00 |
| Global Average Bunker Price | 590.50 | 4.50 | 820.00 | 4.00 |
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