Platts and SEA-LNG expands LNG fuel pricing visibility by a new collaboration, says a press release published on their website.
Fuel pricing visibility
S&P Global Platts (Platts) and SEA-LNG announced a new collaboration to increase visibility in fuel bunker pricing and improve decision making around the viability of using LNG to power fleets.
About the agreement
Under the terms of the agreement, SEA-LNG will display monthly averages of Platts’ daily LNG bunker price assessments on its refreshed website, as well as Platts’ fuel oil bunker assessments.
Transparency of trends and comparisons
By providing greater transparency of trends and comparisons between conventional and LNG marine fuels in the key bunkering hubs of Rotterdam and Singapore, the organisations hope to support operator’s decision making around fuel choices for their fleet.
This agreement provides strong validation of the importance of our independent price assessments to markets — allowing shippers and buyers and sellers of LNG to make informed decisions by evaluating Platts’ LNG bunker assessments, alongside the value of traditional marine fuel bunkers on SEA-LNG’s website.
..said Kenneth Foo, Managing Editor, APAC LNG at S&P Global Platts.
Through this collaboration, we are pleased to make available an additional market data point to participants wanting to understand the commercial outlook of LNG as a marine fuel, in addition to its environmental and operational benefits.
..SEA-LNG General Manager Steve Esau commented.
LNG as a marine fuel
LNG as a marine fuel provides approximately 16% more energy per tonne than low sulphur fuel oil.
The collaboration comes as both organisations continue efforts to facilitate increased transparency in fuel bunker pricing, and in particular support the development of a global LNG marine fuel value chain for shipping’s transition to a more sustainable future.
Benefits for shipowners and operators
The information shared through this collaboration aims to help shipowners and operators further understand the commercial case of choosing LNG as a marine fuel and the role it is playing in transforming the shipping industry today.
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Source: Platts
