Rotterdam’s LNG bunker price rose for a second week, supported by geopolitical risks, while Singapore’s price stayed flat.

Weekly changes in LNG bunker prices:

• Rotterdam up by $10/mt to $719/mt
• Singapore up by $1/mt at $685/mt

Rotterdam

Rotterdam’s LNG bunker price climbed for the second week in a row to $719/mt, supported by a roughly 2% increase in the front-month Dutch TTF Natural Gas contract, a key European benchmark.

“Recent geopolitical developments in the Middle East and Europe were seen as increasing the risk of tightening global supply, supporting (gas) prices,” said Mind Energy (formerly Energi Danmark).

“Gas markets have also been unsettled by the impact of rising geopolitical tension on supply. Israel’s strike on Hamas in Qatar and the recent violation of Polish airspace by Russian drones has raised the prospect of the US and Europe further restricting Moscow’s energy exports,” said Daniel Hynes, senior commodity strategist at ANZ Bank.

Singapore

Singapore’s LNG bunker price was nearly unchanged from the previous week, mirroring the stability of the front-month NYMEX Japan/Korea Marker (JKM), which typically sets the tone for Asian LNG bunker prices.

As a result, Singapore’s $25/mt discount to Rotterdam last week has widened to a $34/mt discount over the past week.

Other LNG bunker news

German container shipping company Hapag-Lloyd has signed a multi-year offtake agreement with Shell for liquefied biomethane (LBM).

Classification society Bureau Veritas (BV) has approved a new LNG bunker vessel design from China’s Hudong-Zhonghua Shipbuilding, while Lloyd’s Register (LR) and South Korea’s HD Hyundai Mipo are collaborating on the development of a 22,000 cbm LNG bunkering vessel.

Meanwhile, Mitsui O.S.K. Lines (MOL) has received LR approval for two LNG carriers equipped with wind-assisted propulsion systems (WAPS).

By Tuhin Roy

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