LNG Bunker Snapshot: Singapore LNG bunker price surges amid Middle East supply concerns
Rotterdam Rotterdam’s LNG bunker price has jumped by $70/mt, mirroring gains in the front-month Dutch TTF natural gas contract. Over the past week, TTF has climbed by around 6% to $22.41/MMBtu ($1,165/mt). The latest rally in TTF prices has been driven by the escalating US-Iran tensions and growing concerns over energy shipments through the Strait ...
The price of liquefied natural gas (LNG) bunkers in Singapore has surged by $102/mt over the past week, reaching $1,442/mt. This significant increase outpaces the rise in Rotterdam, where the price has climbed by $70/mt. The surge in Singapore's LNG bunker prices is attributed to concerns over supply disruptions in the Middle East, particularly the US-Iran tensions and potential sanctions imposed by the US.
The market is also worried about the impact of geopolitical tensions on energy shipments through the Strait of Hormuz. Singapore's LNG bunker premium over Rotterdam has widened to $163/mt, from $131/mt a week earlier. The front-month Japan Korea Marker (JKM) contract, which typically influences Singapore's prices, rose by $1.72/MMBtu to $22.94/MMBtu ($1,193/mt) due to geopolitical tensions.
The widening JKM-TTF spread has raised concerns about potential shortages of LNG in Asia. Singapore's LNG sales increased by 7% in July, reaching 59,000 mt, while the first seven months of the year saw a total of nearly 377,000 mt, up from 286,000 mt a year earlier.
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.
