Team-up makes LNG prices more transparent

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. The move will help operators make more informed fuel decisions by providing greater transparency of comparisons between conventional and LNG fuels in the key bunkering hubs of Rotterdam and Singapore.

The collaboration comes as both organisations seek to address a lack of transparency in fuel bunker pricing, seen by some as a barrier to uptake. “We are excited that our new collaboration with SEA-LNG will add further transparency to the growing LNG bunker spot market,” said Kenneth Foo, managing editor, APAC LNG at S&P Global Platts.

“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 general manager Steve Esau said that Platts had a long history of helping 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,” he said.