Balearia Returns to 100% LNG Bunker Use on Dual-Fuelled Ferries

by Ship & Bunker News Team
Thursday July 6, 2023

Spanish ferry company Balearia has returned to exclusively using LNG as a bunker fuel on its dual-fuelled vessels, having radically cut its LNG use last year in response to surging prices.

The firm has raised its LNG bunker use to 100% on its ten dual-fuelled ferries in recent weeks, it said in an emailed statement on Thursday.

The firm's LNG bunker purchases dropped to 36,937 MWh last year, down by 94.7% from the 698,532 MWh used in 2021.

The war in Ukraine drove a record surge in LNG bunker prices last year on concerns over insufficient gas supply in Europe. LNG bunker prices in fuel oil terms delivered at Rotterdam peaked at $3,660/mt on August 30 of last year, according to Ship & Bunker data, up by 233.6% from the pre-war level seen on February 23.

LNG in fuel oil terms at Rotterdam stood at $540/mt on Tuesday, down from $2,178/mt a year earlier.

"In October 2021, in order to avoid becoming less competitive, the shipping company continued to use this cleaner energy only on port entries, approaches and stays," Balearia said in Thursday's statement.

"It should be noted that, despite the temporary reduction in the use of gas due to the adverse circumstances, Baleària maintained its commitment to this fuel, which enables CO2 emissions to be reduced by up to 30%."

Ship & Bunker News Team
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