Rotterdam’s LNG bunker price has risen on the back of higher bunker premiums, while Singapore’s price has remained unchanged, supported by stability in the front-month NYMEX Japan/Korea Marker (JKM).

Weekly changes in LNG bunker prices:

• Rotterdam up by $14/mt to $709/mt
• Singapore unchanged at $684/mt

Rotterdam

Rotterdam’s LNG bunker price has risen by $14/mt over the past week to $709/mt, mainly driven by a 5% increase in LNG bunker premiums, which moved from about $131/mt to $137/mt.

The front-month Dutch TTF Natural Gas contract, a key European benchmark, has also inched up by 1%, adding further upward pressure.

The price rise can be attributed to “supply restrictions due to maintenance at Norwegian production facilities,” according to the Japan Organization for Metals and Energy Security (JOGMEC).

“European natural gas ended …higher amid rising supply side issues,” said Daniel Hynes, senior commodity strategist at ANZ Bank.

“Reduced flows from Norway and low renewables output in Northern Europe [are] currently contributing to price increases,” commented Mind Energy, formerly Energi Danmark.

EU underground gas storage stood at 79% on 5 September, up from 77.1% the previous week, but still 15.4% lower year-on-year, based on data from Gas Infrastructure Europe.

Singapore

Singapore’s LNG bunker price has remained unchanged from the previous week, mirroring stability in the front-month NYMEX Japan/Korea Marker (JKM), which typically guides Asian LNG bunker prices.

“Uncertainty surrounding the possibility of sanctions on supplies from Russia's Arctic II caused prices to rise” and “spot demand in Japan, where a heatwave continues, increased,” both of which pushed the JKM higher. This upward pressure, however, was offset by “a wait-and-see attitude” among market participants, according to JOGMEC.

“Weak demand in China and India continues to weigh on Asian spot LNG prices,” added Greg Molnár, gas analyst at the International Energy Agency (IEA).

As a result, Singapore’s $11/mt discount to Rotterdam last week has widened to $25/mt now.

Other LNG bunker news

South Korea’s SK Gas has partnered with Hyundai Glovis to supply LNG to its fleet and expand bunkering in the country’s southeast. In Europe, the Port of Le Havre has completed its first ship-to-ship LNG bunkering at the RoRo terminal, while Germany’s Hamburg Port Authority has introduced new safety and operational guidelines for LNG and methanol bunkering at Waltershof.

Meanwhile, Hong Kong’s Caravel Group and Denmark’s Celsius Shipping have ordered two 20,000 cbm LNG bunker vessels from Chinese shipyards, Norwegian carrier Höegh Autoliners has launched its sixth LNG dual-fuel vessel, Höegh Moonlight, in Gothenburg, and Finnish shipbuilder Meyer Turku has launched Royal Caribbean’s third LNG-capable cruise ship, Legend of the Seas.

Additionally, Sweden’s Furetank has signed a contract to secure large-scale biomethane supplies for its LNG dual-fuel fleet.

By Tuhin Roy

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