Singapore aims to be liquefied natural gas (LNG)-bunker ready in the next three years, according to the country’s Senior Minister of state for Trade and Industry, Koh Poh Koon. LNG bunker demand appears to be picking up in Sweden, with gas supplier Gasum reporting a busy schedule for its bunker barge.. Gasum's barge the Coralius carried out a record four LNG bunker deliveries in a single 12-hour period at the end of November, the company said in a statement on its website Monday. Keppel, Shell and FueLNG will further expand the LNG bunkering infrastructure in Singapore with the country's first dedicated LNG bunkering facility. Singapore MPA has launched a request for proposal for new LNG bunker supplier licence, says a press release published on their website. Click here. Request for proposal (RFP) The Maritime and Port Authority of Singapore (MPA) has launched a request for proposal (RFP) for parties seeking to supply liquefied natural gas (LNG) bunker in the Port of Singapore. A newbuilding liquified natural gas (LNG) bunker barge has been chartered by a Singaporean company for deployment in the southeast Asian bunkering hub. Waiver of Craft Dues for LNG-fuelled Harbour Craft and Port Dues Incentives for Ocean-going Vessels using LNG-fuelled Harbour Craft in the Port of Singapore. Major bunker ports such as Singapore are embracing LNG as a maritime fuel, an industry source said Oct. 2. The JKM for December was assessed at $6.757/ MMBtu. Singapore, the world’s largest marine refuelling hub selling about 50 million tonnes of bunker fuel per year, has been developing the infrastructure to support the use of LNG. ]: Subscribe for a year or order a 1-month trial. World 3 [? LNG in Europe competes with pipeline gas therefore only costs of distribution to the ship have to be added to gas price. The closing date for submission of proposals to MPA is 15 December 2020. We provide global news, analysis and prices for the natural gas and LNG markets. ** The Singapore LNG bunker fuel price was assessed at $8.732/MMBtu, maintaining a $1.975/MMBtu spread to the JKM. The company said it had responded to the request for proposal (RFP) from the Maritime and Port Authority of Singapore (MPA) for new licensees for the supply of LNG as a marine fuel in the port of Singapore. The LNG bunker barge, with 7,500 cubic meters of LNG capacity, will be owned and operated by FueLNG, a joint venture between Shell and Keppel Offshore & Marine. To encourage the uptake of LNG bunkers by local harbour craft, MPA will waive 5 years of craft dues for new LNG-fuelled harbour craft that register with MPA between 1 Oct 2017 and 31 Dec 2019. Commodity player denies involvement following civil lawsuit lodged in Brazil. The company says it is responding to increased queries from the industry to find the prevailing cost of LNG as bunker fuel and is looking to extend transparency on pricing in the sector, according to Reuters. Index: IFO 380: VLSFO 0.5: MGO 0.1: World [? “We plan to be LNG bunker-ready as early as 2020, and today is an important milestone in this journey,” he said. The premium has been declining throughout the year. Singapore is looking to add liquefied natural gas (LNG) bunker suppliers amid increasing demand for the cleaner burning marine fuel in the world's top shipping hub. The ship claimed to be Singapore’s first LNG bunkering vessel was moved from land to water on 28 May. In a wider context, LNG bunker fuel is seen as a viable alternative to oil-derived fuels although the infrastructure required to deliver the fuel to the global fleet has been lacking in most ports. Index: IFO 380: VLSFO 0.5: MGO 0.1: World [? Image courtesy of FueLNG. Namely, Singapore 380 cst bunker … 2014 prices are the spot prices at the beginning of the month. I am excited that five such harbour craft will be coming on stream from 2018 onwards.” The company says it is responding to increased queries from the industry to find the prevailing cost of LNG as bunker fuel and is looking to extend transparency on pricing in the sector, according to Reuters. Singapore — The LNG spot price for delivery into North Asia is headed for a historic low in the coming months with the possibility of dropping below the $3/MMBtu level, as rising supply outpaces weak winter demand, S&P Global Platts Analytics said in its JKM weekly price forecast on Thursday. Probunkers has officially registered its intent to enter the Singapore LNG Bunker market, the firm said today, and has submitted a request for a supplier's licence to the Maritime and Port Authority of Singapore (MPA).. The vessel will be based in the Port of Singapore and will supply necessary LNG fuel to large ocean-going LNG-fueled vessels throughout the region. The Singapore LNG bunker fuel price was assessed at $8.732/MMBtu, maintaining a $1.975/MMBtu spread to the JKM. Image credit: Sembcorp Marine. Pavillion Energy, which is the vessel's charterer, said the 12,000 cubic meter (cu m) tanker will be the largest natural gas bunker vessel to date to operate in Singapore. Singapore is actively encouraging vessels which call at its port to use cleaner fuels such as LNG, by providing them with port dues concessions, and co-funding building of LNG-fueled bunker tankers. Read more. Lines (MOL). SINGAPORE and LONDON, Aug. 29, 2019 /PRNewswire/ -- S&P Global Platts, the leading independent provider of information and benchmark prices for the commodities and energy markets, today announced that it will launch the first price assessments for LNG bunkering on September 2, 2019.The Singapore assessments will be published daily in both $/MMBtu and $/mt, while the … Singapore Bunker Fuel Prices Today, IFO 380, IFO 180, MGO Prices per Ton, Live & Historical Price Charts LNG is currently leading the pack of potential alternatives to traditional oil-based bunkers, both in terms of adoption and media attention, but with Society for Gas as a Marine Fuel (SGMF) data indicating a total of 187 LNG-fulled vessels currently in operation and a further 247 on order, its use still represents a tiny fraction of the 60,000 vessel-strong merchant fleet. Singapore is actively encouraging vessels which call at its port to use cleaner fuels such as LNG, by providing them with port dues concessions, and co-funding building of LNG-fueled bunker tankers. CEO Timothy Cosulich says move was "in response to the growth of our activities in the bunker trading sector. To contact the editor responsible for this story email us at editor@shipandbunker.com. “For example, the Maritime Port Authority of Singapore (MPA) has a programme to co-fund up to S$2 million for LNG-fuelled harbour craft. Bunkerworld Index: Bunker prices rise, shaking off bearish fundamentals **Tepid demand at Singapore expected to last through December **Supply of 0.5%S FO in Europe set to ease **USGC markets likely to see subdued demand through December The nosedive in marine fuel prices follows suit of dwindling oil prices that stand at below $40 per barrel. The JKM for December was assessed at $6.757/ MMBtu. Price-reporting agency Platts, which is part of S&P Global, is to assess liquefied natural gas (LNG) bunkers. The market backwardation over the December-January period widened on a softer January derivatives market while December remained tight, with physical offers going past the $7/MMBtu mark on lingering supply concerns at the … Interested parties should request for a copy of the RFP document by emailing LNG_bunkering_RFP@mpa.gov.sg. Singapore to offer two more LNG bunker licences With the first two LNG bunker tankers set to begin operations by the first quarter of 2021, Singapore is putting another two licences up for grabs. Singapore, the world's largest marine refuelling hub and the only port globally that implements a licensing regime for bunkering suppliers and craft operators, currently has two LNG bunker … The ship's operator is Sinanju while its owner is Japanese shipping company Mitsui OSK Lines (MOL). ** The Singapore LNG bunker fuel price was assessed at $8.732/MMBtu, maintaining a $1.975/MMBtu spread to the JKM. Singapore's First Dedicated LNG Bunkering Facility. Even if China manages to offer VLSFO at more competitive prices after the tax rebate, FGE expects minimal volume shift from Singapore. On Oct. 1, Singapore-based licensed LNG bunker supplier FueLNG held a virtual naming ceremony for Singapore's first LNG bunker vessel -- FueLNG Bellina. Learn how you can access our natural gas and LNG prices and market reports. According to FueLNG, the construction of the 7,500-cbm LNG bunkering vessel is “progressing smoothly” and is … Kaohsiung Taiwanese state-owned CPC Corp on Friday increased the price of IFO380 and Marine Fuel 0.5% by $7, and MGO by $5. To encourage the uptake of LNG bunkers by local harbour craft, MPA will waive 5 years of craft dues for new LNG-fuelled harbour craft that register with MPA between 1 Oct 2017 and 31 Dec 2019. Pavillion Energy, which is the vessel's charterer, said the 12,000 cubic meter (cu m) tanker will be the largest natural gas bunker vessel to date to operate in Singapore. The ship, scheduled to be operational by end-2020, will enable FueLNG to be the first to provide ship-to-ship LNG bunkering services within the world's largest bunkering port. The move follows MPA last month issuing a Request for Proposals from prospective new suppliers, and saying it wants to add two more LNG suppliers to its market. And have released the latest version of their Top 10 Bunker Companies report updated for 2021. SINGAPORE DATA: Nov bunker fuel sales up nearly 3% on month to 4.26 mil mt Platts Bunkerworld . Waiver of Craft Dues for LNG-fuelled Harbour Craft and Port Dues Incentives for Ocean-going Vessels using LNG-fuelled Harbour Craft in the Port of Singapore. Used sources Singapore LNG bunkering thrust. Singapore is a significant port of call and we are pleased that there will be the necessary infrastructure provided by FueLNG for us to bunker our LNG-powered vessels.” While the commercial justifications for investing in LNG bunkering may be weak at the moment given the current economic conditions and low oil prices, MPA is confident of the longer term appeal that LNG as a marine fuel has. Singapore state-owned developer Pavilion Energy has chartered its first LNG bunker vessel for the supply of LNG in the Port of Singapore. probunkers responded to the Request for Proposal (RFP) of The Maritime and Port Authority of Singapore (MPA) for new licensees for supply of LNG as a marine fuel in the port of Singapore. Click here. "The strategic partnerships with Total and MOL reinforce our commitment to develop robust LNG bunker supply solutions in Singapore as our home base," said Pavilion Energy chief executive Frédéric Barnaud. The price assessments will start next week for Singapore and Rotterdam. SINGAPORE DATA: Nov bunker fuel sales up nearly 3% on month to 4.26 mil mt Platts Bunkerworld . In favour of a move into renewables market. The news was shared earlier this week by the vessel-owner FueLNG, a joint venture between Keppel Offshore & … The JKM for December was assessed at $6.757/ The supplier is now publishing LNG bunker price indications on a weekly basis for Rotterdam, the North Sea, the Baltic, the Mediterranean and Singapore on its website, it said in an emailed statement. LNG in Europe competes with pipeline gas therefore only costs of distribution to the ship have to be added to gas price. Global liquified natural gas (LNG) bunkering supplier Probunkers Holding on Wednesday (16 December) said it responded to a Request for Proposal (RFP) by the Maritime and Port Authority of Singapore (MPA) for new licensees for supply of LNG as a marine fuel at the port of Singapore in October.. Singapore, the world's largest marine refuelling hub selling about 50 million tonnes of bunker fuel per year, has been developing the infrastructure to support the use of LNG. Bunker prices down 9%, but daily operating costs have jumped by 4.5% this year, rising at their fastest pace in a decade. The ship claimed to be Singapore’s first LNG bunkering vessel was moved from land to water on 28 May. The deliveries were to four oil or chemical tankers at Gothenburg on … The closing date for submission of proposals to MPA is Tuesday, 15 December 2020. World 3 [? The truck-to-ship LNG bunkering in progress at Jurong Port yesterday. The price assessments will start next week for Singapore and Rotterdam.. **MFO 380 CST sales maintain momentum to hit 995,000 mt **Nov LSFO sales rise 4.5% from Oct MPA added it will issue up to two (2) additional LNG bunker supplier licenses to support growing demand for LNG bunkers at the Port of Singapore. We provide global news, analysis and prices for the natural gas and LNG markets. SKS Dokka has replaced sister vessel, SKS Darent. Pavillion Energy is a subsidiary of Temasek. The vessel was moved from land to water on May 28, 2020. LNG dual-fuel bunker tanker. Singapore is gearing up to refuel the growing number of ships powered by cleaner liquefied natural gas (LNG) instead of dirty fuel oil. The submission request for an LNG bunkering license for the port of Singapore is aligned with the business plan of the company.Over the last two … “Most vessels prefer to bunker in Singapore due to greater quality assurance and competitive pricing,” Geng adds. Singapore LNG bunkering thrust . The market backwardation over the December-January period widened on a softer January derivatives market while December remained tight, with physical offers going past the $7/MMBtu mark on lingering supply … Singapore: LNG bunker Tanker Operating in Port by 2021, Ship & Bunker, SeaCred Pick Top 10 Bunker Companies for 2021, Scorpio Exits Dry Bulk, Puts Remaining Bulker Fleet Up For Sale, Fratelli Drops Chemoil Name from its Monaco Bunker Trading Unit, Monjasa Swaps Floating Storage, Gives Details of IMO 2020 Impact on WAF Bunker Demand, Trafigura Execs Cited in Petrobras Graft Allegations. Singapore aims to be LNG bunker-ready by 2020 MPA to run 3-year pilot to gain experience, beef up capabilities. It will be built at Singapore shipyard Sembcorp Marine. Prices in the figures are yearly average prices until 2014. K Line has joined the Japan Hydrogen Association. Singapore LNG Corporation Pte Ltd (SLNG) and Total Solar Distributed Generation (DG) have signed an agreement for solar power to be implemented at the Singapore LNG Terminal on Jurong Island. The ship is the fifth of eight ordered from Samsung in 2018, and the sixth is due to be delivered in December. Prices in the figures are yearly average prices until 2014. Singapore’s first LNG bunkering vessel has hit the water in Keppel Nantong Shipyard in China. Moreover, Heng highlighted the opportunity of lower shipbuilding costs and LNG prices that the LNG bunker market could take to "reposition for the future." Singapore is looking to add liquefied natural gas (LNG) bunker suppliers amid increasing demand for the cleaner burning marine fuel in the world's top shipping hub. Singapore Bunker Fuel Prices Today, IFO 380, IFO 180, MGO Prices per Ton, Live & Historical Price Charts Ship & Bunker News Team **MFO 380 CST sales maintain momentum to hit 995,000 mt **Nov LSFO sales rise 4.5% from Oct Singapore-based licensed LNG bunker supplier FueLNG held a virtual ceremony for naming Singapore’s first LNG bunkering vessel, or LBV, paving the way for further development of LNG … Under a Maritime and Port Authority of Singapore financing scheme, a $S3 million ($2.2m) grant will go towards the cost of building the dual-fuel ship which is expected to be ready by 2021. 2014 prices are the spot prices at the beginning of the month. CEO Timothy Cosulich says move was "in response to the growth of our activities in the bunker trading sector. Major bunker ports such as Singapore are embracing LNG as a maritime fuel, an industry source said Oct. 2. ]: Subscribe for a year or order a 1-month trial. To contact the editor responsible for this story email us at editor@shipandbunker.com. Bunker Fuel Prices Today, IFO 380, IFO 180, MGO Prices per Ton, Live & Historical Price Charts The minister said this at an LNG bunkering demonstration held at Jurong Port on … Melaka Gateway project loses local state backing. FGE does not see China’s bunkering demand growing significantly in 2020-21. In the announcement MPA said it will issue up to two additional LNG bunker supplier … Platts currently assesses the Japan-Korea-Marker price, which is gaining more acceptance as an Asian benchmark for spot LNG cargoes, the report said. Gas supplier Titan LNG has developed a tool to allow the shipping industry to compare LNG prices to conventional bunker fuels, the company said Tuesday.. The world’s biggest bunkering port Singapore has recorded a major fall in prices of heavy fuel oil closing in on ten-year lows from 2015. Image courtesy of FueLNG. 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