SINGAPORE and LONDON, Aug. 29, 2019 /PRNewswire/ -- S&P Global Platts, the leading independent provider of information and benchmark prices for the commodities and energy markets, today announced that it will launch the first price assessments for LNG bunkering on September 2, 2019. The Singapore assessments will be published daily in both $/MMBtu and $/mt, while the Rotterdam assessments will be published in Eur/MWh and $/mt. They will reflect the value of LNG for use as a marine bunker fuel on a delivered basis in Singapore and Rotterdam, two of the world's largest bunkering hubs.
The incoming implementation of the International Maritime Organization's 0.5% sulfur cap for maritime fuels and the expansion of global LNG supplies have led to an increase in the usage of LNG as a maritime fuel. S&P Global Platts Analytics forecasts a strong increase in supplied volumes of LNG to the bunkering market over the next decade to almost 15 million tons per year, which is bigger that the UK's import market.
Ciaran Roe, Global Director of LNG pricing, S&P Global Platts, said: "S&P Global Platts has a long history of providing transparency to commodity markets. We're pleased to launch these new assessments covering the nascent but fast growing LNG bunker market and leveraging Platts capabilities in marine fuel and LNG. This is especially timely as the industry is grappling with the impact of the IMO 2020 regulations."
Global, Americas, Asia: Kathleen Tanzy, + 1 917 331 4607, firstname.lastname@example.org
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SOURCE S&P Global Platts