The amount of LNG bunkered rose by 170 % in the Port of Rotterdam
Risavika LNG front month reached 31.49 EUR/MWh increasing 4 % week-on-week. European gas prices remain supported by tightened supply and potential cold outlook at the beginning of February. Russian gas flows to Europe remain lower compared to last year and LNG cargo arrivals in Europe are still very low, Gasum said in its release.
Oil products are sideways to the last week, slight moves in prices to both directions. Fuel oil 3.5 has gained 0.6 % and closed at 311.28 USD/t for Feb contracts. Low sulfur oil (MFO 0.5) has increased by 0.1 % and closed at 402.63 USD/t, while marine gasoil (MGO 0.1) has decreased by 0.7 % week on week and closed at 441.78 USD/t. Benchmark crude prices continue to be supported by OPEC+ production cuts and vaccine roll out sentiment.
2020 was quite a special year for the Harbour Master’s Division of the Port of Rotterdam Authority. COVID-19 was a dominant factor in the port as well. Additional corona containment measures led to an increase in work pressure. Consequently, number of sea-going vessels putting in at Rotterdam decreased by 4 %: from 29 491 to 28 170. At the same time, the year has been quite successful for LNG bunkering. With container vessel CMA CGM Jacques Saade and cruise ship Mardi Gras refuelling, bunkering LNG (liquid natural gas) became common place in the port in 2020. The amount of LNG bunkered rose by as much as 170 %. Nowadays, about ten LNG bunker vessels are active in the Rotterdam region.
