Maritime ship

It's time to navigate forward for more sustainable maritime transportation

Convert to liquefied natural gas for a more sustainable future in shipping

When using liquefied natural gas - LNG - for your maritime vessels, you are set for using liquefied biogas - LBG - now and in the future. Biogas is part of circular economy and it is 100% renewable. We at Gasum turn waste into liquefied biogas for you to use, as the most sustainable maritime fuel. By using LNG and LBG you can be part of the generation that took the step today - for a decarbonized future in shipping!

Find the prices on our LBG and LNG from our weekly maritime market update.

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Why choose LNG or LBG for maritime?

The demand for cleaner energy solutions is increasing. If we are here to fight climate change, we need to reduce emissions from the use of heavy fuel oil in maritime transport. LNG (liquefied natural gas) reduces CO2 emissions by at least 20 percent. As a fuel, LNG is interchangeable with renewable LBG (liquefied biogas), as they both consist mainly of methane. 

Using both LNG and LBG is one of the concrete actions that will take us towards a low-carbon society of the future.

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Have a chat with our maritime professionals

We are super happy to help you to take a step forward. Contact our maritime sales team to discuss more about gas as a solution for cleaner maritime transport.

Jacob Granqvist, Vice President, Maritime
tel. +358 40 483 9129
jacob.granqvist@gasum.com

You can also send us a contact request via form!

Decarbonizing shipping with liquefied natural gas and biogas

Maritime market updates

06.10.2021

Maritime market update: gas market prices are at a record high

Risavika LNG index was up 22 %, reaching 103.63 EUR/MWh for November contracts. European gas market prices continue to be at the record highs and sentiment remains bullish as supply is limited. Asian spot LNG prices are poised to surpass the all-time high recorded early this year and remained a premium market for LNG, leading to more cargoes being delivered to Asian buyers. The latest rally in spot LNG prices has pushed several Asian buyers to turn to cheaper alternative fuels to meet their power requirements. The weather will determine the extend of gas rally, a colder than expected winter means several Asian buyers will have to secure additional supplies to meet extra heating requirements, increasing the competition for a limited pool of supplies.

Oil product prices have increased too, however, slightly. Fuel oil 3.5 (FO 3.5) price has gained 2.9% to 438.18 USD/t, low sulphur oil (MFO 0.5) and marine gasoil (MGO 0.1) gained 0.7% and 2.6 % to 534.55 USD/t and 657.86 USD/t respectively week on week. Oil supply to the market is tight. The Opec+ alliance has agreed to stick to its plan to increase its collective crude production quota by 400,000 b/d next month, despite growing signs that the market may need a larger hike. The Brent benchmark prices are above 80 USD/BBL, at highest since 2018. Gas prices rally also added bullish sentiment to the oil market as many gas consumer are incentivized to switch to oil products for this winter season.

 

Front Month Price index

LNG Risavika*

LBG blend

Risavika**

FO 3.5 FOB Rdam

MFO 0.5 FOB Rdam

MGO 0.1 FOB ARA

ULSD FOB ARA

Unit

103.63

106.63

31.42

36.70

45.17

48.13

EUR/MWh

1755.47

1806.29

438.18

534.55

657.86

671.32

USD/t

imagekfpth.png

 

 

LNG Risavika - LNG FOB Risavika 

LBG Risavika 10 % - 10 % blend of Liquified Biogas

FO 3.5 FOB Rdam – European 3.5% Fuel Oil Barges FOB Rdam (Platts) Futures Quotes

MFO 0.5 FOB Rdam - European FOB Rdam Marine Fuel 0.5% Barges (Platts) Futures Quotes

MGO 0.1 FOB ARA - Gasoil 0.1% Barges FOB ARA (Platts) Futures Quotes

ULSD FOB ARA - European Diesel 10 ppm Barges FOB ARA (Platts) Futures Quotes

 

Source: CME Group, Gasum, Argus Media

*An estimate for LNG FOB Risavika 

** An estimate for 10 % LBG blend FOB Risavika

Read more
28.09.2021

Maritime market update: rally for both oil and gas last week

Risavika LNG index was up 6.4 %, reaching 80.24 EUR/MWh for October contracts. With Russian flows remaining unchanged, slow LNG and low storage levels at the start of winter season, October gas prices gained additional support. European gas storage levels are at their lowest in at least 10 years ahead of this winter heating season, adding to the risk of further price increase. European storage sites are around 72% full, compared with 94% full at the same time last year, and 85% full on average over the past 10 years by the end of September, according to Reuters. European gas markets are likely to be volatile and bullish this winter season, and the weather will play a major role on supply and demand balance.

Oil product prices were up on tight supply and drawdown in US and European inventories. Fuel oil 3.5 (FO 3.5) price has gained 6.9 % to 425.67 USD/t, low sulphur oil (MFO 0.5) and marine gasoil (MGO 0.1) gained 2.2 % and 3.9 % to 530.74 USD/t and 641.04 USD/t respectively week on week. Brent benchmark has been trading above 80 USD/BBL on Monday as market anticipates tighter supply, while demand recovery continues. The return of US crude production after the hurricane season has been slow so far. More than 16 % or 294 400 BBL/D of offshore production in the region remained shut in as of 23 September, according to the Bureau of Safety and Environmental Enforcement.

 

Front Month Price index

LNG Risavika*

LBG blend

Risavika**

FO 3.5 FOB Rdam

MFO 0.5 FOB Rdam

MGO 0.1 FOB ARA

ULSD FOB ARA

Unit

80.24

83.24

30.52

36.44

44.01

46.94

EUR/MWh

1359.31

1410.14

425.67

530.74

641.04

654.73

USD/t

imagevyrw5.png

 

LNG Risavika - LNG FOB Risavika 

LBG Risavika 10 % - 10 % blend of Liquified Biogas

FO 3.5 FOB Rdam – European 3.5% Fuel Oil Barges FOB Rdam (Platts) Futures Quotes

MFO 0.5 FOB Rdam - European FOB Rdam Marine Fuel 0.5% Barges (Platts) Futures Quotes

MGO 0.1 FOB ARA - Gasoil 0.1% Barges FOB ARA (Platts) Futures Quotes

ULSD FOB ARA - European Diesel 10 ppm Barges FOB ARA (Platts) Futures Quotes

 

Source: CME Group, Gasum, Argus Media, Reuters

*An estimate for LNG FOB Risavika 

** An estimate for 10 % LBG blend FOB Risavika

Read more
21.09.2021

Maritime market update: gas prices surge on tight supply outlook

Risavika LNG index gains continued last week, it was up 9.6 % reaching 75.11 EUR/MWh for October contracts as European gas market prices were on rise on the back of possible Nord Stream 2 delay. Meantime, Gazprom has not booked additional supply capacity through Ukraine in October, leaving gas supply situation unchanged for the next month when the market steps into a new gas year. With no additional gas supplies to the market, the prices could be seen even higher to compete with Asian gas prices in order to attract LNG cargoes to Europe. The extend of the increase would depend on the weather and demand for heating.

Benchmark oil prices remain supported by the consequences of hurricanes in the Gulf of Mexico. Oil product prices have gained on potential delays with resuming some of refining and production capacities, however, the gain was limited.  Fuel oil 3.5 (FO 3.5) price has gained 0.8 % to 396.14 USD/t, low sulphur oil (MFO 0.5) increased by 2.6 % to 518.90 USD/t and marine gasoil (MGO 0.1) increased by 3.5 % to 616.33 USD/t.

 

 

Front Month Price index

LNG Risavika*

LBG blend

Risavika**

FO 3.5 FOB Rdam

MFO 0.5 FOB Rdam

MGO 0.1 FOB ARA

ULSD FOB ARA

Unit

75.11

78.11

28.40

35.63

42.32

45.21

EUR/MWh

1272.32

1323.15

396.14

518.90

616.33

630.58

USD/t

imagew51c.png

 

LNG Risavika - LNG FOB Risavika 

LBG Risavika 10 % - 10 % blend of Liquified Biogas

FO 3.5 FOB Rdam – European 3.5% Fuel Oil Barges FOB Rdam (Platts) Futures Quotes

MFO 0.5 FOB Rdam - European FOB Rdam Marine Fuel 0.5% Barges (Platts) Futures Quotes

MGO 0.1 FOB ARA - Gasoil 0.1% Barges FOB ARA (Platts) Futures Quotes

ULSD FOB ARA - European Diesel 10 ppm Barges FOB ARA (Platts) Futures Quotes

 

Source: CME Group, Gasum, Argus Media

*An estimate for LNG FOB Risavika 

** An estimate for 10 % LBG blend FOB Risavika

Read more