Rotterdam’s LNG bunker price has declined amid milder European weather and expectations of fresh supply from the upcoming Golden Pass LNG project, while Singapore’s price has remained steady.

Weekly changes in LNG bunker prices:

• Rotterdam down by $14/mt to $694/mt
• Singapore down by $1/mt at $670/mt

Rotterdam

Rotterdam’s LNG bunker price has dropped by $14/mt, driven by “milder” weather forecasts in Europe, according to Mind Energy (formerly Energi Danmark).

Prices have also declined following “reports about the imminent startup of the Golden Pass LNG project in Texas. After months of delays, it’s expected to start cooling key equipment in readiness for liquifying gas for export. It’s one of the biggest export facilities to come online and heralds a wave of supply that threatens to push the market into surplus next year,” said Daniel Hynes, senior commodity strategist at ANZ Bank.

Beyond the ARA region, LNG prices have fallen by $21/mt for deliveries to Portugal and by $46/mt in the Baltic Sea. The ARA currently trades at discounts of $105/mt and $38/mt to these regions, respectively.

Singapore

Singapore’s LNG bunker price remained almost unchanged from the previous week, reflecting the steady front-month NYMEX Japan/Korea Marker (JKM), which usually guides Asian LNG bunker prices.

Consequently, Singapore’s discount to Rotterdam has narrowed from $37/mt last week to $24/mt this week.

Other LNG bunker news

US-based Stabilis Solutions has signed a 10-year deal to supply LNG for marine bunkering at the Port of Galveston. Swedish shipping company Wallenius Sol will operate its dual-fuel vessels on bio-LNG under Gasum’s FuelEU Maritime pooling scheme to earn surplus compliance credits.

Global energy firm ExxonMobil plans to start physical deliveries of LNG and liquefied biomethane (LBM) using two chartered bunker vessels, while Shell has signed a time-charter agreement with Singapore’s Purus for two LNG bunker vessels.

South Korea’s Hanwha Ocean has completed a ship-to-ship LNG transfer during sea trials, and Spanish ferry operator Baleària has begun using bio-LNG on three ferries.

Last week, Spanish energy firm Molgas delivered LBM to a UECC container ship at the Port of Le Havre and acquired Dutch LNG supplier Titan Clean Fuels to expand its LNG and LBM bunkering network in Europe.

By Tuhin Roy

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