Asian LNG spot prices have experienced a 10% slide this week to a more than three month low due to declining oil prices.
Increasing supply and dwindling demand have caused Asian LNG spot prices to fallen to an over two month low.
The Maritime and Port Authority of Singapore has become the third port member to join SEA\LNG, alongside Port of Rotterdam and Yokohama-Kawasaki International Port Corporation (YKIP).
Singapore authorities are working to ensure the availability of low-sulfur marine fuels before the new IMO 2020 emission regulations come into play.
Asian spot LNG prices have suffered a further decline from multi-year seasonal highs as demand remains low.
Woodside Energy Trading Singapore has signed a HOA with Germany’s Uniper Global Commodities for a four year supply of LNG.
The Green Corridor Joint Industry Project (JIP) has concluded with the delivery of a LNG-fuelled Newcastlemax design for a VLOC.