LNG Bunker Snapshot: Singapore’s LNG discount to Rotterdam fades

LNG bunker prices have fallen in both Rotterdam and Singapore, pressured by easing US–Iran tensions.

Weekly changes in LNG bunker prices:

• Rotterdam down by $50/mt to $746/mt
• Singapore down by $11/mt at $745/mt

Rotterdam

Rotterdam’s LNG bunker price has fallen by $50/mt over the past week to $746/mt, mainly due to a 9% decline in LNG bunker premiums, which slipped from about $164/mt to $149/mt.

LNG prices have also come under pressure from “reduced tensions, following the start of dialogue between US and Iran,” according to the Japan Organization for Metals and Energy Security (JOGMEC).

There was also a “noticeable downtick due to both, warmer forecasts arriving over the weekend and easing US-Iran tensions,” said Mind Energy, formerly Energi Danmark.

EU underground gas storage levels stood at 37.4% as of 6 February, down from 41.5% the previous week and 25.5% lower year-on-year, according to Gas Infrastructure Europe.

Singapore

Singapore’s LNG bunker price has decreased by $11/mt over the past week to $745/mt, weighed down by “reduced geopolitical risk, following the easing of tensions between US and Iran” and “ample inventories in Northeast Asia,” according to JOGMEC.

The port’s $40/mt discount to Rotterdam, seen a week earlier, has now been almost eliminated.

The decline mirrors a $0.18/MMBtu fall in the NYMEX Japan/Korea Marker (JKM) benchmark over the week, which brought the front-month contract down to $11.11/MMBtu ($578/mt).

Japan’s LNG inventories for power generation stood at 2.08 million mt as of 1 February, down by 170,000 mt from the previous week, according to data from Japan’s Ministry of Economy, Trade and Industry.

Other LNG bunker news

Japan’s Nippon Yusen Kaisha (NYK Line) and Norwegian shipowner Ocean Yield have jointly signed multiple long-term charter agreements with Cheniere Marketing International, a subsidiary of US LNG producer Cheniere Energy, for new LNG dual-fuel LNG carriers.

Swiss shipping company Sallaum Lines has taken delivery of Ocean Legacy, an LNG dual-fuel pure car and truck carrier (PCTC) with capacity for 7,400 vehicles.

Finnish ferry operator Viking Line has secured bio-LNG covering 50% of its fleet’s needs for the first half of 2026.

Norwegian energy company Barents NaturGass has started LNG bunkering operations for shipping firm Havila Kystruten at the Port of Hammerfest.

Spain’s Reganosa Group-owned Mugardos Energy Terminal has confirmed it is ready to supply bio-LNG for use as marine fuel.

LNG dominated newbuilding activity in January, with 16 vessels ordered, taking the LNG orderbook to 655 ships scheduled for delivery through to 2033, according to DNV.

Energy major Shell has entered China’s LNG carrier newbuilding market as the charterer of four vessels ordered at CSSC Jiangnan Shipyard.

Japanese shipping company Mitsui O.S.K. Lines (MOL) has secured a long-term charter agreement with Northern Lights for two new liquefied CO2 (LCO2) carriers.

By Tuhin Roy

Please get in touch with comments or additional info to news@engine.online