Six fuel vessels arrive in Ctg, easing energy supply fears

Six vessels carrying liquefied natural gas (LNG), furnace oil, liquefied petroleum gas (LPG) and condensate arrived at the Chattogram port this week from the Middle East and East Asian countries, offering some relief to Bangladesh's fuel supply amid the ongoing conflict in the region.

Of the six, two vessels carried a combined 126,458 tonnes of LNG, two brought 40,000 tonnes of furnace oil, and one arrived with 19,316 tonnes of LPG, according to officials at the Chittagong Port Authority (CPA) and local shipping agents. A sixth ship, carrying 14,000 tonnes of condensate, arrived from Malaysia on March 5.

Besides, five more vessels, carrying LNG, LPG and diesel, are en route to Bangladesh. Three of them loaded LNG from Qatar's Ras Laffan terminal, CPA Secretary Syed Refayet Hamim said.

Two of those three vessels, carrying a combined 120,000 tonnes of LNG, have already crossed the Strait of Hormuz, said officials at local shipping agent Uni Global Business Limited. 

The third vessel, Lebrethah, carrying 62,000 tonnes of LNG, has yet to cross the strait, said Nurul Alam, senior deputy general manager of the agency.

Iran, which had initially blocked the strait, has since said it will remain open to all vessels except those from the United States and Israel.

Of the remaining two inbound ships, one carrying 22,172 tonnes of LPG from Oman's Sohar port is expected to arrive at the Chattogram port today.

Another, with 30,484 tonnes of diesel from Singapore, is expected on March 12, according to shipping agent Pride Shipping.

Bangladesh imports roughly 95 percent of its fuel oil and 70 percent of its gas, predominantly from the Middle East, where hostilities have escalated sharply since US-Israeli forces launched coordinated strikes on Iran on February 28.

The conflict has rattled global energy markets. Oil prices have surged around 24 percent to above $90 a barrel, putting them on course for their steepest weekly gain since the pandemic, Reuters reported on March 7.