LNG Bunker Snapshot: Singapore’s price rises on higher bunker delivery premium
Rotterdam’s LNG bunker price has stayed largely flat, while Singapore’s has moved higher, underpinned by stronger LNG bunker premiums.
Weekly changes in LNG bunker prices:
- Rotterdam down by $3/mt to $643/mt
- Singapore up by $14/mt at $606/mt
Rotterdam
Rotterdam’s delivered LNG bunker price has remained broadly stable week on week. Slight downward pressure from a weaker front-month Dutch TTF Natural Gas contract was offset by a higher assessed bunker delivery premium.
The LNG bunker delivery premium in the ARA rose by $0.24/MMBtu to $2.63/MMBtu, equivalent to $137/mt. Meanwhile, the front-month Dutch TTF Natural Gas contract slipped by $0.30/MMBtu (or $0.50/MMBtu) to $9.68/MMBtu, equivalent to $503/mt.
“European gas fell as near-term weather forecasts turned milder, signalling lower gas consumption. That could reverse recent strong withdrawals from storage facilities after a blast of Arctic air at the start of the new year,” said Daniel Hynes, senior commodity strategist at ANZ Bank.
Singapore
Singapore’s LNG bunker price rose by $14/mt week on week to $606/mt. The increase was mainly driven by a change in LNG bunker premiums, which moved from about $87/mt to $108/mt, representing a 24% increase.
As a result, Singapore’s discount to Rotterdam narrowed to $34/mt, compared with $51/mt last week.
Other LNG bunker news
Construction of an LNG bunkering vessel jointly owned by Finland’s state-backed energy company Gasum and Sweden’s Sirius Shipping has begun at Turkey’s RMK Marine.
Separately, Swiss operator Sallaum Lines has taken delivery of the second vessel in its six-ship series of LNG dual-fuel pure car and truck carriers being built at China’s Fujian Mawei Shipbuilding.
In Spain, marine fuel supplier Moeve has joined forces with renewable energy firm Pretium Renovables to develop up to six biomethane plants in Andalusia.
By Tuhin Roy
Please get in touch with comments or additional info to news@engine.online
