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ENGINE on Fuel Switch Snapshot: LNG premiums narrow in Rotterdam

Rotterdam’s LNG returns to discount to B24-VLSFO; Singapore’s LNG and bio-bunker sales drop; spot biofuel demand low in Singapore.

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ENGINE on Fuel Switch Snapshot: LNG premiums narrow in Rotterdam

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:

16 December 2024

  • Rotterdam’s LNG returns to discount to B24-VLSFO
  • Singapore’s LNG and bio-bunker sales drop
  • Spot biofuel demand low in Singapore

A sharp drop in Rotterdam’s LNG price in the past week has flipped it to a $20/mt discount to B24-VLSFO HBE, after having been at a $76/mt premium a week earlier.

Similarly, LNG’s premium over LSMGO in Rotterdam has narrowed significantly, dropping by $104/mt in a week to just $8/mt.

In Singapore, LNG remains at a $30/mt premium over its B24-VLSFO UCOME blend.

The port recorded a decline in both bio-bunker and LNG sales in November. Bio-blended bunker sales fell by 21% to 115,000 mt, down from the October peak of 145,000 mt. LNG bunker sales have seen an even steeper drop, plunging 46% lower to 28,000 mt.

VLSFO

Rotterdam’s VLSFO price has increased by $15/mt in the past week.

Availability of the grade remains stable in Rotterdam. However, independently held fuel oil stocks in the wider ARA region fell by 2% in November compared to October, according to Insights Global data.

Singapore’s VLSFO price has dropped by $7/mt over the past week, driven by a slight improvement in the grade’s availability at the port. Suppliers now suggest lead times of around seven days, down from 10 days the previous week.

Biofuels

The VLSFO-equivalent price of B24-VLSFO in Rotterdam has gained by $10/mt in the past week.

Dutch rebates for biofuel have dropped sharply in recent weeks. The theoretical rebate for B30-VLSFO HBE blends sold in Dutch ports is now at $120/mt, compared to $143/mt a week ago and a significant decline from the record high of $220/mt noted last month.

Meanwhile, Singapore’s B24-VLSFO UCOME price has remained unchanged in the past week.

Spot biofuel demand continues to be low in Singapore. One supplier can deliver B24-VLSFO with lead times of up to 10 days. Suppliers in Singapore sold about 115,000 mt of bio-blended bunkers in November, down from 145,000 mt sold in October.  

LNG

Rotterdam’s LNG bunker price has plummeted by $85/mt in the past week.

This has tracked a 12% drop in the underlying Dutch TTF Natural Gas contract amid forecasts of milder weather. These forecasts have eased concerns about Europe’s heating season, reducing any near-term demand pressure on LNG.

Singapore’s LNG bunker price has dropped by a smaller $13/mt in the past week, largely tracking a decline in the NYMEX Japan/Korea Marker (JKM) contract.

LNG bunker delivery costs in Singapore are estimated to have gone down by $13/mt on the week, to $104/mt. This seems to have added some downward pressure on the price.

By Konica Bhatt, Nithin Chandran and Debarati Bhattacharjee

 

Photo credit and source: ENGINE
Published: 17 December, 2024

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LNG Bunkering

PIL’s LNG dual-fuel boxship “Kota Elok” arrives in Singapore on maiden call

As the first of 13 new 13,000 TEU vessels joining its fleet, Kota Elok is equipped to operate on LNG and low-sulphur fuel oil that helps reduce our greenhouse gas emissions.

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PIL's LNG dual-fuel boxship “Kota Elok” arrives in Singapore on maiden call

Singapore-based Pacific International Lines Pte Ltd on Monday (20 July) said its first 13,000 TEU LNG dual-fuel container vessel, Kota Elok, recently made her maiden call to Singapore on 15 July.

As the first of 13 new 13,000 TEU vessels joining its fleet, Kota Elok is equipped to operate on liquefied natural gas (LNG) and low-sulphur fuel oil that helps reduce our greenhouse gas emissions. 

The vessel also incorporated energy-saving features and digital technologies to reduce fuel consumption and enhance operational performance, as well as a bow windshield to improve aerodynamics, contributing to improved fuel efficiency and lower emissions over the course of long-haul voyages.

“Following Singapore, Kota Elok will continue her voyage on our East Coast Service 1 (ES1) route to South America, calling at ports in Brazil, Uruguay, and Argentina before returning to Asia,” the company said in a social media post. 

Kota Elok also became PIL’s first vessel to receive Lloyd’s Register certification for compliance with the IACS UR E26 and UR E27 cyber security requirements.

Developed by the International Association of Classification Societies (IACS), UR E26 and UR E27 are mandatory cyber resilience requirements for newbuild vessels contracted from 1 July 2024. 

 

Photo credit: Pacific International Lines
Published: 21 July, 2026

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LNG Bunkering

CIMC SOE secures order for 12,000-cbm LNG bunkering vessel from Sinopec Clean Energy

Once operational, the vessel is expected to strengthen Sinopec’s domestic coastal LNG bunkering network and help address gaps in China’s alternative fuel bunkering infrastructure.

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CIMC SOE secures order for 12,000-cbm LNG bunkering vessel from Sinopec Clean Energy

China’s Nantong CIMC Sinopacific Offshore & Engineering Co., Ltd. (CIMC SOE) recently signed a contract with Sinopec (Beijing) Clean Energy Co., Ltd. to build a 12,000-cubic metre (m3) LNG bunkering vessel, according to Chinese maritime media.

The vessel is scheduled for delivery in 2028 and will support Sinopec’s efforts to expand its presence in the marine clean energy sector.

Once operational, the vessel is expected to strengthen Sinopec’s domestic coastal LNG bunkering network and help address gaps in China’s LNG bunkering infrastructure.

With this signing , CIMC Pacific Offshore Engineering’s LNG bunkering vessel orderbook is further strengthened, maintaining its leading position in the global market for small and medium-sized LNG bunkering vessels.

The contract also marked another milestone for CIMC SOE, which has seen a sharp increase in orders and business performance this year amid a surge in domestic LNG vessel demand.

 

Photo credit: Nantong CIMC Sinopacific Offshore & Engineering
Published: 21 July, 2026

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Nuclear

ABS awards AiP to Korean institute for SMR-powered container ship concept design

KRISO says AiP recognises the technical feasibility and safety of its concept design, marking an important milestone toward the development of next-generation nuclear-powered commercial ships.

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ABS awards AiP to Korean institute for SMR-powered container ship concept design

Korea Research Institute of Ships & Ocean Engineering (KRISO) on Thursday (16 July) received Approval in Principle (AiP) from the American Bureau of Shipping (ABS) for its concept design of a 15,000 TEU Small Modular Reactor (SMR)-powered container ship utilising Molten Salt Reactor (MSR) technology.

KRISO said the AiP recognises the technical feasibility and safety of its concept design, marking an important milestone toward the development of next-generation nuclear-powered commercial ships.

“This achievement demonstrates international recognition of KRISO’s technological capabilities in the rapidly evolving field of nuclear-powered shipping, supporting the transition toward low-carbon maritime transport,” it said. 

Building on this milestone, KRISO will continue advancing basic and detailed ship design, paving the way for future demonstration and commercialisation of SMR-powered vessels. 

Through continued R&D and international collaboration, KRISO remains committed to strengthening next-generation maritime technologies and contributing to the safe deployment of nuclear propulsion in the maritime industry.

 

Photo credit: Korea Research Institute of Ships & Ocean Engineering
Published: 21 July, 2026

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