Dutch LNG supplier Titan LNG has launched a free online tool providing an overview of LNG prices delivered onboard in various quantities and ports to increase transparency and understanding of the cost of LNG as a marine fuel.
The site displays up to date indicative pricing on a weekly basis in key LNG fueling locations Rotterdam, North Sea, Baltic, Mediterranean and Singapore. Prices are shown across three delivery options where applicable including truck-to-ship, FlexFueler barge, and sea-going bunker vessels.
The fuel comparison data provides an insight into the costs for LNG as a marine fuel compared to other existing fuels delivered now and in the future for accurate budgeting.
Régine Portocarero, business development manager at 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 shipowners 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.”
The tool can be access here.