Tuesday, November 24, 2020

Price of Liquid Natural Gas Online Tool Available to Maritime Interests

Range of Costs Across Five Major Bunkering Ports
Shipping News Feature

NETHERLANDS – WORLDWIDE – With the country at the forefront of gas bunkering in Europe, Amsterdam based Titan LNG has launched a free-to-use LNG-delivered prices overview, together with a fuel basis energy compare sheet for the maritime sector.

Available on Titan LNG’s website, the new LNG delivered price page provides an overview of LNG prices delivered on board in various quantities and ports, aiming to increase transparency and understanding of the cost of LNG as a marine fuel. Furthermore, it displays up to date indicative pricing on a weekly basis in five key LNG fuelling locations: Rotterdam, North Sea, Baltic, Mediterranean and Singapore.

Reference prices are available for two different drop sizes, 250 and 1,000 tonnes, for each region. The prices presented across three delivery options where applicable, including truck-to-ship, FlexFueler barge, and sea-going bunker vessels.

Titan says the fuel comparison sheet enables informed decision-making by providing insight into the costs for LNG as a marine fuel, usually priced by € per megawatt hour, compared to other existing fuels in € or $ per tonne or MMBtu delivered now and in the future for accurate budgeting.

The pre-formulated table (accessed free of charge with premium access) enables users to input relevant market prices, which are automatically converted into the LNG equivalent, allowing owners and operators to follow market trends. Moreover, premium access also provides forward curves, illustrating the delta of LNG vs MGO in terms of pricing. Régine Portocarero, Business Development Manager, Titan LNG commented:

“One of the biggest hurdles we face in the progress towards a low emissions future is the lack of transparency and understanding of LNG, which already contributes to reducing carbon and eliminates local harmful emissions. It is clear that LNG offers a clear pathway to decarbonisation through Bio-LNG and eventually using green hydrogen converted into E-fuels (Synthetic Liquid Gas).

“With our efforts, we hope to increase transparency and accuracy around LNG pricing, enabling ship owners and operators to make informed choices. It’s essential that fuels are being compared on an energy equivalent basis. For example if you take 1,000 tonnes of MGO, you only need ~815 tonnes of LNG, it takes less fuel to travel the same distance.”

LNG pricing and availability remain central decision-making factors when considering the adoption of LNG as a marine fuel. Titan LNG says it is continuing to build out its owned or chartered physical infrastructure to facilitate supply across the globe. The new shared insights demonstrate that Titan LNG, as an independent supplier, is able to provide practical support and information to the entire shipping community.

For owners and operators seeking more detailed information, Titan LNG says it is willing and able to work in collaboration with businesses to understand fuel consumption and determine potential annual savings, for which Titan LNG has developed the Titan LNG Marine Assessment Tool, which can be accessed here.

Photo: Courtesy Titan LNG.