LNG bunker prices jump sharply while bio-LNG improves its relative position

Rotterdam’s LNG prices have surged by $74-81/mt over the past week, while liquefied biomethane (LBM) prices have risen even more sharply, by $102-109/mt, according to the latest weekly snapshot from bunker intelligence platform ENGINE. LBM’s discount to LNG has narrowed by $28/mt to $419-426/mt, improving bio-LNG’s relative competitive position against conventional LNG.

Singapore’s LNG prices have gained $34-38/mt over the same period, with the fuel now priced at $26-120/mt discounts to LSMGO, depending on engine type.

The move comes as ENGINE-assessed FuelEU Maritime pooling values for B100 and LBM on EU-EU voyages have fallen by $29/mt and $41-47/mt respectively over the past week, with OceanScore’s FuelEU Pooling Index dropping by around €10/mtCO2e to €165/mtCO2e ($189/mtCO2e), weighing on the pooling benefits of both fuels on intra-EU voyages. B100’s discount to LNG consumed in Otto medium-speed engines has widened by $49/mt to $187/mt over the week. In contrast, B100 still remains at a premium to LNG consumed in diesel slow-speed engines in Rotterdam, though that premium has narrowed sharply to just $1/mt from $58/mt the previous week.

Singapore’s conventional bunker fuel benchmarks have climbed by $12-70/mt over the week. The port’s B100 price has surged by $73/mt, pushing its premium over VLSFO up by $61/mt to $242/mt. B100 has remained at a discount to LSMGO in Singapore, although that discount has narrowed to around $4/mt from $7/mt the week before.