LNG Bunker Snapshot: LNG bunker prices retreat as Middle East tensions ease
Weekly changes in LNG bunker prices: • Rotterdam down by $29/mt to $1,122/mt • Singapore down by $23/mt at $1,371/mt • Baltics down by $30/mt to $1,226/mt Rotterdam Rotterdam’s LNG bunker price has fallen by $29/mt week-on-week to $1,122/mt, despite LNG bunker premiums climbing 23% from about $87/mt to $107/mt. The decline was primarily driven ...
The price of liquefied natural gas (LNG) bunker fuel has declined in recent weeks, with Rotterdam, Singapore, and the Baltics all seeing drops of $29, $23, and $30 per metric ton, respectively, bringing the prices to $1,122, $1,371, and $1,226 per mt. This decline was driven by easing geopolitical tensions, particularly between the United States and Iran, and the resumption of LNG tanker traffic through the Strait of Hormuz.
In Rotterdam, this comes as Qatar begins sending LNG shipments through the strait after a three-week hiatus. European gas storage levels are up 56.9% as of July 24th, though still 17.3% below last year's levels. LNG bunker sales in Rotterdam have risen 31% year-on-year to 123,000 metric tons in Q2 and 18% from the previous quarter.
In Singapore, the price has fallen by $23 per mt to $1,371 per mt, reflecting a broader weakening in the Asian LNG market as prices typically follow the NYMEX Japan/Korea Marker. Meanwhile, Singapore's Maritime and Port Authority has issued eight new licenses for LNG as marine fuel, expanding the number of authorized suppliers.
Written by urgent.news from Hellenic Shipping News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.