A brand new set of unbiased indices for the maritime LNG commerce went stay this week (March 2), based mostly on carriers utilizing LNG, somewhat than marine gas oil or marine diesel, as their main gas.
Printed twice every week, the brand new indices have been given the acronym (BLNGg) and can be printed alongside the present LNG indices based mostly on LNG carriers utilizing very low sulfur gas oil (VLSFO). Historic knowledge for the brand new indices can be out there from January 1, 2020.
The brand new Baltic commonplace ship has the next velocity and consumption specs when burning LNG as gas:
- 17 knots out of 210 coal mattress methane LNG (CBM) / day loaded.
- 16 knots on 190 CBM LNG / day ballast.
- 0.1% boiling.
- Port consumption 42 CBM LNG / day at idle.
- Port consumption 85 CBM LNG / working day.
Every day US greenback assessments can be found on the next routes:
- BLNG1g Australia to Japan RV.
- BLNG2g from Gulf of US to mainland RV.
- BLNG3g from US Gulf to Japan RV.
CME Group plans to launch three new futures based mostly on the brand new Baltic Change indices on March 22, 2021, pending regulatory assessment.
“As LNG markets proceed to evolve globally, the demand for brand new instruments to handle the danger round its transportation can also be rising quickly,” mentioned Peter Keavey, World Head of Vitality at CME Group. “The introduction of contracts based mostly on the usage of LNG as a bunker gas amongst world delivery routes is the subsequent step within the evolution of freight and supplies one other market-based resolution to assist our clients handle their fuel threat. worldwide. “
For the reason that introduction of the World Sulfur Cap 2020 by the Worldwide Maritime Group (IMO), nearly all of LNG carriers have switched to LNG evaporative fuel somewhat than burning low sulfur gas oil, marine diesel or fuel oil. set up emission discount know-how. The evaporation course of permits the naturally evaporating LNG cargo to be despatched to the engine room and burnt by the primary boilers as gas.
Learn the article on-line at: https://www.lngindustry.com/lng-shipping/04032021/baltic-exchange-announces-additional-independent-indices-for-lng-seaborne-trade/