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INFORMATION SHARE TO RESULT IN LNG BUNKER PRICING TRANSPARENCY

INFORMATION SHARE TO RESULT IN LNG BUNKER PRICING TRANSPARENCY

Thursday, March 25, 2021 

Under the terms of the agreement, SEA-LNG will display monthly averages of Platts’ daily LNG bunker price assessments on its website, as well as Platts’ fuel oil bunker assessments. 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. 

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.

Kenneth Foo, Managing Editor, APAC LNG, Platts, said:“We are excited that our new collaboration with SEA-LNG will add further transparency to the growing LNG bunker spot market. Platts provided the world’s first daily valuation of LNG bunkers in September 2019.  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.”

SEA-LNG GM Steve Esau said: “S&P Global Platts has a long history of facilitating the development of new spot markets. 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."

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