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Antwerp bunker sales overtake Rotterdam: Correction
Antwerp bunker sales overtake Rotterdam: Correction
Corrects city in table heading. Sao Paulo, 23 April (Argus) — Antwerp sold more marine fuel than Rotterdam in the first quarter of 2026 for the first time since the fourth quarter of 2023. Volumes traded in Antwerp were 52pc higher than in the neighbouring Dutch port, reflecting the impact of the Netherlands' implementation of the EU's revised Renewable Energy Directive (RED III). Bunker sales data for the first quarter at the port of Antwerp show that volumes of conventional marine fuels sold rose by 37.5pc quarter-on-quarter and 14.8pc on the year, to nearly 2.4mn t. Sales in Rotterdam fell by 27pc on the quarter and 28pc on the year, to 1.58mn t. The retroactive implementation of the RED III marine mandates in the Netherlands since January has increased the cost of conventional marine fuels in Dutch ports, extending renewable fuel blending and compliance obligations to the maritime sector. From 2026, fuel suppliers in the Netherlands must meet stricter greenhouse gas reduction targets, which can be achieved by incorporating more expensive alternative fuels into their supply mix or by purchasing tickets (ZREs) from other suppliers who have done so. These additional costs are passed on to bunker fuel buyers. As a result, prices for conventional marine fuels in the Netherlands have risen relative to ports where RED III implementation has been delayed, such as Belgium. Between early February and the end of March, MGO dob Rotterdam prices were on average $12.75/t higher than equivalent Antwerp prices, while VLSFO dob Rotterdam held an average premium of around $14.50/t over the same period. This price differential is expected to persist at least until the end of the year, when RED III is due to be implemented in Belgium. The increase in sales in Antwerp was capped in March owing to supply constraints. The effective closure of the strait of Hormuz following the start of the US–Iran war sharply reduced bunker availability in Singapore, increasing competition for VLSFO and MGO cargoes that would otherwise be exported to the ARA hub. This led to tighter availability of conventional bunker fuels in March and lengthened bunkering lead times across the entire hub, including Antwerp. By Gabriel Tassi Lara Antwerp bunker sales t Fuel 1Q 2026 4Q 2025 Q1 2025 q-o-q % y-o-y % ULSFO 164,114 124,634 118,447 31.5 38.5 VLSFO 955,032 521,017 708,410 83.3 34.8 HSFO 718,016 524,229 661,352 37.0 8.6 MGO/MDO 338,364 345,899 352,867 -2.0 -4.0 Conventional total 2,397,146 1,744,407 2,089,779 37.5 14.8 Biofuel blends 20,726 10,959 41,973 89.0 -50.5 LNG (m³) 90,038 48,634 28,670 85.0 214.0 Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Middle East crisis bolsters case for fossil fuel shift
Middle East crisis bolsters case for fossil fuel shift
Edinburgh, 23 April (Argus) — The war in the Middle East is strengthening the case for a transition away from fossil fuels, but countries must balance the crisis' shorter-term consequences on energy costs with longer-term policies. The situation will spur energy shifts, as others crises have done before, IEA executive director Fatih Birol said this week, pointing to increased fuel efficiency in vehicles, the rise of biofuels in Brazil and an increase in nuclear power in Europe and some countries in Asia-Pacific after the oil crises in the 1970s. "I believe there will be a major response on the energy side, and we are more fortunate now because we have many available technologies which are cost effective," he said. Turkey's environment minister Murat Kurum, the upcoming Cop 31 climate summit president, said this week that the crisis has "clearly shown us that fossil fuels do not guarantee energy supply security" and countries should invest in "alternative energy sources" to support stability, resilient and clean development. He recalled the agreement taken in Dubai in 2023, when almost 200 countries agreed on "transitioning away from fossil fuels in energy systems" and to triple renewable energy capacity and double energy efficiency rates by 2030. Kurum highlighted how important the need for alternative energy sources and economic diversification is now, considering national circumstances. "Doubling down on fossil fuels is not the answer to that crisis," Australia's climate and energy minister Chris Bowen said on 21 April , the same day UK energy minister Ed Miliband said "the era of fossil fuels is over". "In response to recent events, our actions must be faster, deeper and more wide-ranging to protect energy security", Ed Miliband said as he laid out measures to cut electricity costs . He said it will be irresponsible "to carry on with business as usual", because there are compelling clean alternatives to fossil fuels. EU energy commissioner Dan Jorgensen said more actions need to be taken to protect citizens and industries from future shocks, saying the current crisis "must be a wake-up call". But he cautioned about the costs being felt now and the long-term effects the crisis will have on member states' economies as countries find themselves having to balance short-term measures with longer term policies. Jorgensen warned against "burning" public money in fossil fuels subsidies, and suggested looking at targeted measures delivering "double value", such as offering support to change from boilers to heat pumps or electric vehicle (EV) leasing. He also said the crisis should not derail long term signals deployed alongside climate policies. Some countries in Asia-Pacific, including South Korea and Vietnam, have turned to increased coal-fired power generation to reduce LNG consumption, as the disruptions in the Mideast Gulf have cut off around 20pc of global LNG supply. Japan has moved to lift restrictions on coal-fired power plants until March 2027. Globally, power generation from fossil fuels fell in the first month since the maritime traffic halted through the strait of Hormuz, according to Helsinki-based Centre for Research on Energy and Clean Air lead analyst Lauri Myllyvirta. But the IEA's Birol warned the longer the conflict goes on, the more severe the effects will be. Long-term strategy resilience is important because short-term reactions are always costly, Indian think-tank senior modelling specialist Niti Aayog Venugopal Mothkoor told Non-profit World Resources Institute (WRI). India is looking at electrification in terms of decarbonisation and as an important strategy to support resilience, because electricity can be produced domestically and most of the renewable resources are located in the country, he said. Long term policies to shift to cleaner energy cut emissions and contribute to bolster energy security and help insulate countries from fossil fuel price swings. "Long term strategies are indispensable in an unstable world," he said. "At the end of the day, we have to take steps to help countries to transition towards clean energies and in terms of phasing out fossil fuels," Turkey's Kurum said this week. By Caroline Varin Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Brazil eyes UCO imports to unlock SAF output
Brazil eyes UCO imports to unlock SAF output
Sao Paulo, 23 April (Argus) — Brazilian refineries are looking to import used cooking oil (UCO) to produce sustainable aviation fuel (SAF) as they struggle with limitations in domestic collection and traceability and thanks to the feedstock's higher economic attractiveness. This residual feedstock is likely to gain greater relevance in SAF projects, given expectations of higher margins from this biofuel compared with biodiesel. Around 1pc of biodiesel produced in Brazil in 2025 used domestic UCO as a feedstock, data from hydrocarbons regulator ANP show. Brazil currently prohibits UCO imports, but the government is considering creating a quota — still undefined — to allow such imports exclusively for SAF production, Euler Lage, a project manager focused on renewables for the presidential chief of staff, said recently . If authorized, market participants expect UCO imports to come mainly from Asia, the world's leading producer. Support from the Asian market is likely to be temporary, until other feedstocks with higher or similar added value become available to Brazilian producers. Brazil's UCO market remains unregulated and lacks official data. Rendering association Abra began representing the UCO sector in January, initiating efforts to structure the market. Abra's initiative ranges from creating product specifications to improving UCO's traceability. Establishing a feedstock's origin is a key requirement for a product to generate Cbio decarbonization credits under Brazil's Renovabio biofuel policy. The requirement is applicable for credits generated from the use of SAF and other biofuels, such as biodiesel and ethanol. Abra is working on developing a specific national classification of economic activities codes for UCO. The code is essential for granting official recognition to the activity, allowing companies in the sector to be correctly classified, included in government statistics, and protected by greater legal certainty, Abra president Decio Coutinho told Argus . The association is also developing an app to record information on UCO collection and movement, aiming to reduce traceability gaps and increase transparency throughout the supply chain. Abra estimates that Brazil can collect around 2mn metric tonnes (t)/yr of UCO, around 40pc of its edible oil consumption. More conservative projections estimate collection if 500,000-1mn t/yr, according to market participants. Alternative feedstocks Other feedstocks such as soybean oil, technical corn oil and beef tallow are also on the radars of Brazilian companies interested in producing SAF via the hydrotreated esters and fatty acids (HEFA) route. The 17,000 b/d Riograndense refinery, in the southern state of Rio Grande do Sul, plans to invest in oilseeds canola and carinata , seizing the region's potential for winter crops production. The project's strategic location will allow it to not depend on UCO availability and collection, according to the refinery. A second production phase of the privately operated 300,000 b/d Mataripe refinery, in northeastern Bahia state, envisages an SAF production project that uses oil from macauba — the Brazilian yellow coconut — as its primary feedstock. Participants expect the refinery to shift all biofuel production to this alternative feedstock as of 2035, replacing UCO and soybean oil. Both projects aim to initially serve international markets, such as Europe and the US, because of their maturity and demand levels. Pricing for Brazilian SAF should use the foreign market as a reference until the Brazilian market gains traction. Brazil currently produces 10,500 b/d of SAF, all in state-controlled Petrobras' Reduc refinery. The country will produce 101,600 b/d by the end of this year. The national aviation fuel program ProBioQAV establishes a mandate for airlines to gradually reduce greenhouse gas emissions in their domestic operations as of 2027 through the use of SAF. Under the rule, the mandatory GHG reduction starts at 1pc in 2027 and increases progressively until reaching 10pc in 2037. By Natalia Dalle Cort and Maria Albuquerque Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Mideast Gulf war may dent Brazil asphalt demand
Mideast Gulf war may dent Brazil asphalt demand
Sao Paulo, 22 April (Argus) — Price gains triggered by the Mideast Gulf war could temper Brazilian asphalt demand in the coming months. Some Brazilian distributors are worried that asphalt prices may extend gains, buyers may purchase less and interrupt the seasonal hike in demand that occurs once the rainy season ends in April. Values for delivered asphalt in Brazil have risen by more than 50pc since the US-Israeli war with Iran started in late February. US Gulf coast asphalt prices rose by almost 80pc, and Mediterranean values increased by nearly 60pc over the same period. Domestically produced asphalt prices in Brazil also strengthened in response to higher priced imports. Acelen and Ream, both private refineries, increased asphalt values by 25pc and 40pc in April, respectively. Petrobras hiked prices by 10-15pc on average. Buyers initially pushed back on the rapid price gains. But construction companies might be forced to absorb higher costs once paving demand kicks in after the rainy season ends. But some participants have noted weaker sales because of rapid price increases. Others reported that persistent rains, mainly in Brazil's northeast, are also preventing companies from starting their paving work, which may delay peak demand until later in the season. The regions that are showing firmer demand, on the other hand, are those where road paving has been tendered to private companies since they are more efficient than state-run entities in absorbing price increases. Rio Grande do Sul, Santa Catarina, Mato Grosso do Sul, São Paulo and Rio de Janeiro states are some examples, according to participants. Even though demand varies significantly from one region of the country to another, most distributors agree that it will strengthen ahead of the planned elections in October for governors and the nation's president, traditionally periods when civil construction programs ramp up. While some have reported concerns that demand could weaken if further price increases occur domestically, construction companies' paving contracts are expected to be carried out on schedule. Buyers may withhold purchasing imported supply until demand rises and their inventories are depleted, however. In the first quarter of the year, Brazil imported almost 66,000 metric tonnes (t) of asphalt, 30pc higher than the same period last year. More than half of it came from Turkey and 25pc came from Spain, all purchased before Mediterranean prices surged after the Israeli-US war with Iran. By Julio Viana Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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