Switzerland’s energy producer Axpo on Monday (22 June) said the company completed its first ship-to-ship bio liquefied natural gas (LNG) bunkering operation in the port of Barcelona. 

Mitsui OSK Lines’s (MOL) vehicle carrier Lapis Ace received bio-LNG from Axpo’s bunkering vessel Green Pearl, marking another milestone in the development of alternative marine fuels infrastructure and services in Spain. 

Reinforcing its commitment to supporting the maritime industry’s transition to lower-emission fuels, this latest ship-to-ship bio-LNG bunkering operation demonstrates Axpo’s expanding capability to serve leading shipping operators across major ports in Spain. 

Axpo’s Head of Small-Scale LNG Daniele Corti, said: “The refuelling operation with MOL in Barcelona represents another key moment for LNG adoption in Spain. We’re not only developing infrastructure. We’re proving that alternative marine fuels can be operationally reliable and cost-effective. 

“As demand for LNG and bio-LNG continues to increase, Axpo’s growing operations in Málaga, Algeciras and now Barcelona demonstrate that this is no longer a niche market. It is a critical stepping stone in the maritime industry’s transition to a lower-carbon future.”

Axpo has been selected to supply bio-LNG fuel to MOL across the Mediterranean, providing bunkering services at the Spanish ports of Málaga and Barcelona. The agreement expands Axpo’s role in lower-emission maritime transport and builds on its existing Western European supply partnership with MOL, which began in March 2025.

Axpo’s presence in Spanish ports has grown substantially over the past year. In April 2025, the company completed its first LNG delivery in Málaga, followed by successful operations in Algeciras and Sines (Portugal). 

These milestones were made possible by Axpo’s 7,500-cubic-metre small-scale LNG vessel Green Pearl, improving the speed, flexibility and efficiency of bunkering operations across the Mediterranean. Axpo currently also holds a licence to operate in the port of Valencia.

In Italy, Axpo conducted the country’s first ship-to-ship bio-LNG refuelling in December 2025. Shortly afterwards, in March 2026, the bunkering vessel Alisios LNG, chartered by Axpo, was launched at the port of Huelva in southwestern Spain. 

Axpo’s ten-year charter of the Green Pearl and ongoing expansion of its bio-LNG portfolio reflect the company’s belief that industry collaboration is essential to achieving global emissions targets. By partnering with leading shipping operators like MOL and MSC, Axpo is demonstrating how coordinated action can accelerate the maritime sector’s shift toward cleaner fuels.

Related: MOL inks bio-LNG bunker fuel supply deals with Titan and Axpo for car carriers in Europe

Photo credit: Daniele Corti
Published: 23 June, 2026

Classification society DNV on Monday (22 June) published a Maritime Impact article, summarising the key findings of its Methane in shipping paper, helping shipowners of LNG-capable vessels to meet stricter GHG reduction requirements, and optimise LNG‑based fuel strategies for future compliance: 

Excluding LNG carriers, more than 800 ships can run on LNG using mature, proven technology and established infrastructure, with over 600 more on order.

Under the FuelEU Maritime regulation, LNG‑capable ships can remain compliant on fossil LNG until around 2035, depending on engine configuration. Ships fitted with two‑stroke high‑pressure dual‑fuel engines can remain compliant longer than those using four‑stroke low‑pressure dual‑fuel engines, which are more common in cruise ships and RoPax vessels.

Extending LNG compliance with low-GHG options

DNV’s Methane in Shipping white paper indicates that a potential compliance pathway is the use of LNG-compatible low-GHG fuels. LNG ships are compatible with alternatives such as liquefied bio-methane and e-methane. With tightening GHG intensity requirements, these ships are thus well positioned to transition towards lower GHG emission fuels without major retrofits for these alternatives.

“Bio-methane and e-methane can achieve very low, or even negative, life cycle emissions depending on how they are produced. LNG-fuelled vessels can progressively decarbonize by blending in or switching to these fuels,” explains Øyvind Sekkesæter, Senior Consultant at DNV and lead author of the paper.

Demand for low-GHG methane will grow with tightening regulations

According to demand projections outlined in the paper, compliance-driven low-GHG methane demand under FuelEU Maritime alone could reach 2–4 million tonnes by 2040, rising to as much as 40–95 million tonnes under the proposed IMO Net Zero Framework’s base target.

On the supply side, current production of low-GHG methane is limited, but still higher than many other low-GHG fuel alternatives. Global bio-methane production reached around 7 million tonnes in 2024 and is projected to increase to about 15 million tonnes by 2030. E-methane remains nascent, with only 0.01 million tonnes of operational capacity today, but announced projects could lift this to 0.9 million tonnes by 2030.

While there is significant potential to expand the global supply of low-GHG methane beyond today’s production levels, shipping will compete with other sectors for this supply. Most available supply is already absorbed by power generation and road transport, meaning access for shipping will largely depend on its willingness to pay relative to other users.

Note: The full DNV article can be read here. 

Related: DNV paper: Existing LNG bunkering infrastructure will ease transition to low‑GHG methane

Photo credit: FueLNG and DNV
Published: 23 June, 2026

Once a week, bunker intelligence platform ENGINE will publish a snapshot of alternative and conventional bunker fuel prices in the world’s two biggest bunkering hubs. The following is the latest snapshot:

• OceanScore’s FuelEU Pooling Index drops to 2026 low
• B100’s discount to VLSFO narrows to $18/mt
• LBM pooling values lose up to $306/mt since May

OceanScore’s FuelEU Pooling Index has fallen to €169/mtCO2e ($193/mtCO2e) this week, its lowest level of the 2026 compliance cycle so far.

The benchmark has declined by €4/mtCO2e ($5/mtCO2e) over the past week. Over the same period, ENGINE-assessed FuelEU Maritime pooling values for B100 and liquefied biomethane (LBM) on EU-EU voyages have fallen by $20/mt and $29-33/mt, respectively.

While the weekly decline in pooling values has been relatively modest, the impact is more pronounced over a longer period. Market participants shifted their focus to 2026 FuelEU compliance in May after completing 2025 reporting and pooling activities by the end of April.

Since the first week of May, OceanScore’s FuelEU Pooling Index has slumped by €56/mtCO2e, from €225/mtCO2e ($263/mtCO2e) to €169/mtCO2e ($193/mtCO2e) now.

The decline in the underlying benchmark has reduced B100’s potential pooling value by $188/mt to $522/mt over the same period.

LBM pooling values have been hit even harder, falling by $261-306/mt to $724-849/mt.

“The decline suggests that sellers are becoming increasingly willing to place compliance surpluses at lower price levels than earlier in the year, and a belief that banking will not translate into better prices any time soon,” OceanScore said.

The decline in pooling values has impacted bunker spreads in Rotterdam.

On 5 May, Rotterdam’s B100 stood at a $299/mt discount to HSFO. That has since shifted to a $68/mt premium over HSFO. Its discount to VLSFO has narrowed by $395/mt to $18/mt and its discount to LSMGO has narrowed by $622/mt to $240/mt.

LBM discounts to LSMGO have narrowed by $469-509/mt, and to LNG by $132/mt over the same period.

Liquid fuels

Rotterdam’s conventional fuel prices have fallen by $32-102/mt over the past week, while its B100 price has edged up by $1/mt.

Prompt HSFO and VLSFO availability remains tight in the ARA bunkering hub, because of loading delays at the terminals, a trader said. Lead times of around 7-8 days are recommended for both grades.

Singapore’s HSFO and LSMGO prices have declined by $18-78/mt in the past week, while its VLSFO price has risen by $34/mt. Its B100 has declined by $29/mt

VLSFO availability in Singapore is still facing constraints, with suppliers recommending lead times of 10-14 days for deliveries.

HSFO availability has improved marginally, with lead times shortening to 5-12 days from 10-15 days previously. LSMGO availability has become more stretched, requiring 7-10 days of advance planning versus roughly seven days previously.

Liquid gases

Rotterdam’s LNG prices have declined by $27-33/mt in the past week. The LBM price for Otto medium-speed engines has inched lower by $2/mt, while the price for diesel slow-speed engines has inched higher by $3/mt.

Singapore’s LNG prices have plunged by $150-153/mt on the week.

By Konica Bhatt

Photo credit and source: ENGINE
Published: 23 June, 2026