A new set of independent indices for maritime liquefied natural gas (LNG) trade went live this week (March 2), based on carriers using LNG, rather than marine fuel or marine diesel, as fuel. main.
Released twice a week, the new indices have been given the acronym (BLNGg) and will be published alongside the current LNG indices which are based on Ultra Low Sulfur Fuel Oil (VLSFO) LNG carriers. Historical data for the new indices will be available as of January 1, 2020.
The new Baltic standard ship has the following speed and fuel consumption specifications when burning LNG as fuel:
17 knots on 210 m3 of LNG / loaded day
16 knots on 190 m3 of LNG / day of ballast
Port consumption 42 m3 LNG / day inactive
Port consumption 85 m3 LNG / working day
Daily US dollar assessments are available on the following routes:
BLNG1g Australia to Japan RV
BLNG2g Gulf of United States to Mainland RV
BLNG3g Gulf of the United States in Japan RV
CME Group plans to launch three new futures contracts based on the new Baltic Exchange indices on March 22, 2021, pending regulatory review.
âAs LNG markets continue to evolve globally, the demand for new tools to manage the risks associated with its transportation is also growing rapidly,â said Peter Keavey, Global Head of Energy at CME Group. âThe introduction of contracts based on the use of LNG as a bunker fuel among global shipping routes is the next step in the evolution of freight and provides another market-based solution to help our customers manage their gas risk. global. ”
Since the introduction of the 2020 Global Sulfur Cap by the International Maritime Organization (IMO), the majority of LNG carriers have switched to LNG evaporative gas rather than burning low sulfur fuel oil, marine diesel or install emission reduction technology. The evaporation process allows the naturally evaporating LNG cargo to be sent to the engine room and burnt by the main boilers as fuel.
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