Accessed via its website, the company is providing information on LNG prices delivered onboard ‘in various quantities and ports’ and also offers indicative pricing on a weekly basis for Rotterdam, the North Sea, Baltic Sea, the Mediterranean and Singapore.
Announcing the new offering today, Titan LNG said reference prices will be available for two drop sizes – 250 tonnes and 1,000 tonnes, and the prices will be show across three delivery options – truck to ship, FlexFueler barge, and sea-going bunker vessels.
The fuel comparison sheet provides information on the costs for LNG as a marine fuel – usually priced by € per megawatt hour – compared to other existing fuels in € or US$ per ton or MMBtu delivered now and in the future.
According to Titan LNG: ‘The pre-formulated table (accessed free of charge with premium access) enables users to input relevant market prices, which are automatically converted into the LNG equivalent, allowing owners and operators to follow market trends.’
Premium access gives users information on forward curves, ‘illustrating the delta of LNG versus MGO in terms of pricing,’ the company explained.
Régine Portocarero, Business Development Manager, Titan LNG commented on the new initiative: ‘One of the biggest hurdles we face in the progress towards a low emissions future is the lack of transparency and understanding of LNG, which already contributes to reducing carbon and eliminates local harmful emissions.
‘It is clear that LNG offers a clear pathway to decarbonisation through Bio-LNG and eventually using green hydrogen converted into E-fuels (Synthetic Liquid Gas).’
She continued: ‘With our efforts, we hope to increase transparency and accuracy around LNG pricing, enabling shipowners and operators to make informed choices. It’s essential that fuels are being compared on an energy equivalent basis – for example if you take 1,000 tonnes of MGO, you only need ~815 tonnes of LNG; it takes less fuel to travel the same distance.’