For many in shipping, the collapse in the bunker price has been one of the few respites since last year.

Moving in tandem with crude oil prices, this year’s costs of 380-centistock bunker fuel — the most used type of marine fuel — are on average 45%-49% lower than 2015 in the world’s main bunkering ports, according to brokerage OceanConnect.

AUSTRALIAN liquefied natural gas (LNG) production is growing fast. And based on the research from analysts at BMI Research, a unit of the Fitch Group, it is likely to increase 50% by 2020 on the back of Australia’s ‘mega’ LNG export ventures.

Investments have topped $200 billion and over the next ten years Australia’s LNG production is set to increase from around 30 million tonnes a year to 75 million tonnes, leaving the country on track to rival Qatar – the world’s largest supplier.