Apr 16, 2021 3:15:pm
Summary Outdated data is being used to criticise LNG because of methane slip, according to SEA-LNG, failing to take into account the progress that has been made.
by: Joe Murphy
An independent study shows that LNG as a shipping fuel can reduce well-to-wake greenhouse gas emissions by up to 23% compared with the use of diesel.
The study, commissioned by industry association SEA-LNG and the So.
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UK Exchange Adds LNG Shipping Indices
Mar 3, 2021 6:10:pm
Summary The new indices for day-rates update those that assumed tankers were running on fuel oil and cover a range of speeds and consumption rates.
by: William Powell
UK Baltic Exchange has launched indices for LNG tanker day-rates, based on the carriers burning LNG, rather than marine fuel oil or marine gas o.
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by Type (High Sulfur Fuel Oil, Low Sulfur Fuel Oil, Marine Gasoil, and Others), Commercial Distributor (Oil Majors, Large Independent, and Small Independent), and Application (Container, Bulk Carrier, Oil Tanker, General Cargo, Chemical Tanker, Fishing Vessels, Gas Tankers, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027. According to the report, the global bunker fuel industry generated $120.1 billion in 2019, and is projected to reach $130.1 billion by 2027, witnessing a CAGR of 3.1% from 2020 to 2027.
Drivers, restraints, and opportunities
IMO regulation on sulfur content in marine fuel and increase in offshore oil & gas exploration activities drive the growth of the global bunker fuel market. However, fuel reduction initiatives by the shipping community hinders the market growth. On the other hand, LNG bunkering financing creates new opportunities in the coming years.