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LNG: Asia's LNG Bunker Appetite To Remain Strong In 2025: Platts

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Asia’s LNG bunker fuel appetite is expected to remain strong in 2025, according to Platts. 

  • A narrowing LNG-VLSFO spread, a surge in orders for LNG-fueled ships and increasing adoption of alternative fuels should boost LNG bunker fuel demand, Platts says.
  • The trend is likely to support LNG prices amid rising competition in the marine fuel market, though Platts sources expect LNG prices to face pressure in the coming months due to seasonal factors and increasing LNG supply.
  • Singapore-delivered LNG bunker stood at $14.492/Gj on March 17, compared with $12.317/Gj for Singapore-delivered marine fuel 0.5%S, according to Platts.
  • LNG bunkering volumes in Singapore rose fourfold y/y to 463,948 mt in 2024, attributed in part to lower LNG bunker prices.
  • Meanwhile, in China, bunker suppliers are expanding their barge fleets to meet rising demand, with LNG bunker demand in the nation expected to rise 30% this year, according to Platts sources. 
  • LNG bunkering is gaining traction owing to a slow development of other alternative fuels such as green ammonia and methanol. Shipping regulations, including FuelEU Maritime and the EU ETS, are also favouring LNG adoption.  
singaporelng

Source: S&P Global Commodity Insights

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Asia’s LNG bunker fuel appetite is expected to remain strong in 2025, according to Platts. 

  • A narrowing LNG-VLSFO spread, a surge in orders for LNG-fueled ships and increasing adoption of alternative fuels should boost LNG bunker fuel demand, Platts says.
  • The trend is likely to support LNG prices amid rising competition in the marine fuel market, though Platts sources expect LNG prices to face pressure in the coming months due to seasonal factors and increasing LNG supply.
  • Singapore-delivered LNG bunker stood at $14.492/Gj on March 17, compared with $12.317/Gj for Singapore-delivered marine fuel 0.5%S, according to Platts.
  • LNG bunkering volumes in Singapore rose fourfold y/y to 463,948 mt in 2024, attributed in part to lower LNG bunker prices.
  • Meanwhile, in China, bunker suppliers are expanding their barge fleets to meet rising demand, with LNG bunker demand in the nation expected to rise 30% this year, according to Platts sources. 
  • LNG bunkering is gaining traction owing to a slow development of other alternative fuels such as green ammonia and methanol. Shipping regulations, including FuelEU Maritime and the EU ETS, are also favouring LNG adoption.  
singaporelng

Source: S&P Global Commodity Insights