Rotterdam LNG bunker sales grew in Q1

Rotterdam’s LNG bunker sales increased by 47% between the fourth quarter of 2022 and first quarter of this year.

PHOTO: Large LNG tanks at an LNG terminal. Getty Images

LNG bunker sales touched 86,000 cbm in the first quarter of this year, up from 59,000 cbm sold in the previous quarter. No methanol sales were recorded during the quarter.

Declining LNG prices have contributed to boost LNG bunker sales. According to Argus Media and DNV, the northwest Europe (NWE) LNG bunker price had come down sharply from peak levels of more than $2,500/mt on an MGO-equivalent level in August, to about $684/mt in March.

The expansion of Europe’s LNG import capacity has helped in sourcing diverse and competitive gas supply, which has driven prices lower, Dutch LNG bunker supplier Titan said in its April monthly report. Milder winters have further contributed to keep European gas storage facilities relatively full, with more than 50% of gas reserves still unused after the winter. Meanwhile, the price of conventional marine fuels has not fallen as much, it added.

Total LNG bunker sales in the first quarter were still lower than the peak 213,000 cbm LNG sold in the first quarter of 2021.

By Nithin Chandran

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