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Singapore’s bunker sales hit 10-month low in April

  • : Oil products
  • 24/05/15

Singapore's April bunker sales fell to a 10-month low on weak very-low sulphur fuel oil (VLSFO) demand. But consumption of high-sulphur fuel oil (HSFO) and B24 biofuel bunkers remained firm.

  • Singapore VLSFO bunker sales fell to at least a 15-month low of 2.25mn t in April, according to data from the Maritime and Port Authority of Singapore. This came because of slower demand as more buyers turned to lower-priced HSFO.
  • Singapore HSFO sales accounted for a 42pc share of total fuel oil sales in April, up from a 31pc share a year earlier.
  • Disruptions in the Red Sea led to increased fuel usage by ocean-going vessels with higher rates of scrubber technology adoption, raising demand for HSFO by a greater extent than for VLSFO.
  • Consumption of bio-blended VLSFO, or B24, climbed by 61pc on the year because buying interest gained traction, but slipped by 10pc from strong consumption in March.
  • LNG bunker sales rose by over sixfold on the year but edged down from a record high in March.

Singapore bunker sales000t
Apr-24m-o-m ± %y-o-y ± %Jan-Apr 2024± %
Low-sulphur fuel oil (LSFO)2,252-6.9-1610,088-2.2
Marine fuel oil (MFO)1,6000.0316,46632
Low-sulphur MGO (LSMGO)277-11.0-111,201-3.0
Bio-blended LSFO60-10.06118653
Liquified natural gas (LNG)36-7.9582111N/A
MGO9.788.0-3743-9.2
Marine diesel oil (MDO)0.0N/AN/A0.0N/A
Bio-blended MDO0.0N/AN/A0.0N/A
Bio-blended marine gasoil (MGO)0.0N/AN/A0.0N/A
Bio-blended LSMGO0.0N/AN/A0.0N/A
Bio-blended MFO0.0N/A-1000.0-100
Ultra low sulphur fuel oil (ULSFO)0.0N/AN/A0.0N/A
Bio-blended ULSFO0.0N/AN/A0.0N/A
Methanol0.0N/AN/A0.0N/A
Total4,235-4.7-0.618,0968.9

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25/07/08

Paving Amazon road may spoil Brazil climate target

Paving Amazon road may spoil Brazil climate target

Sao Paulo, 8 July (Argus) — Brazil suspended the paving and reconstruction of the northern BR-319 highway, which would drive up deforestation and make it impossible for Brazil to meet its climate targets by 2050, according to the environment ministry. Reconstructing the highway would increased deforestation and generate 8bn metric tonnes (t) of CO2 by 2050, according to the environment ministry. This would run counter to Brazil's efforts to eliminate deforestation — both legal and illegal — by 2030, to meet its emissions reductions targets under the Paris climate agreement. A federal court decision from October 2024 allowed plans by former-president Jair Bolsonaro's administration to rebuild and pave BR-319 to move forward through a preliminary license. The federal court reassessed the case on 2 July, suspending the preliminary license for the second time. The first suspension dates back to July 2024, when a federal environmental court stopped the work under an argument of irreversible risks to the Amazon forest if the concession remained active. The 918km BR-319 connects the capitals northern Amazonia and Rondonia states, Manaus and Porto Velho, both in the Amazon forest biome. While the preliminary license was in force, deforestation around the highway more than doubled, including in conservation areas, Brazilian climate network Observatorio do Clima said. An increase in deforestation could cut water supply to large cities in the center-south and reduce agriculture and cattle raising by interfering in the rainfall pattern, according to the ministry. It also added that 95pc of Amazon's deforestation happens within 5.5km of highways. Brazil's environmental watchdog Ibama has strengthened its monitoring in the BR-319 to prevent deforestation and other illegal practices in the surrounded areas. Ibama agents have seized tractors and power generators near Tapaua city, in Amazonas, which were used to support illegal activities in the Amazon forest, such as wood extraction. Ibama also applied R8mn ($1.46mn) in environmental fines and blocked access to 1,600 hectares (ha) of deforested areas to fight ongoing illegal activities, it said today. By João Curi Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Paraguay, Argentina extend Km 171 fuel shipping


25/07/08
25/07/08

Paraguay, Argentina extend Km 171 fuel shipping

Sao Paulo, 8 July (Argus) — Paraguay's national directorate of tax revenue DNIT and Argentina's customs revenue and control agency Arca extended operations at the transshipment zone at the Km 171 mark in the Parana Guazu River for an additional 10 months. The announcement, shared by DNIT head Oscar Orue on social media, comes after days of tension sparked by Argentina's earlier decision to suspend operations at the site, citing a lack of formal port authorization. Argentina's decision was criticized by Paraguayan authorities and industry groups last week , who warned of potential fuel supply disruptions and increased logistics costs. Km 171 is a critical hub for ship-to-barge transfers of oil products such as diesel and naphtha for landlocked Paraguay, which relies heavily on river transport for fuel imports. While the new agreement ensures continued operations in the short term, it remains unclear whether the 10-month extension will serve as a transitional period for negotiations toward a permanent solution. By Flavia Alemi Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

French diesel, HVO customs data mislabelled: Eurostat


25/07/08
25/07/08

French diesel, HVO customs data mislabelled: Eurostat

Barcelona, 8 July (Argus) — French firms have mislabelled imports of 10ppm diesel as hydrotreated vegetable oil (HVO) this year, following confusion over new customs codes, EU data service Eurostat has said. The confusion has come about after the introduction of a new import-export (CN) code for HVO that took effect at the start of 2025. Some French data will be restated. A diesel code of 27101943 was discontinued at the end of 2024 and was replaced by 27101944. A new CN code 27101942 for HVO was introduced. HVO is produced by treating vegetable oil with hydrogen, counts against biodiesel blend mandates, but is molecularly separate from biodiesel output by esterification. When customs data for 2025 began to be published at the end of the first quarter, France appeared to be importing large amounts of HVO from Saudi Arabia and the US. Cargoes from the former amounted to around 255,000t in the first quarter. Saudi Arabia has no HVO production known by Argus , nor does it re-export cargoes. It is France's largest diesel supplier. There were also 140,000t labelled as HVO from the US in January-March. But because the EU has anti-dumping and countervailing duties on US HVO imports, shipments of this size appeared questionable. The US is the second biggest diesel supplier to France. The mislabelling has made French and EU HVO traffic difficult to track. It has distorted French diesel import data , which show imports have fallen sharply. Argus first questioned the numbers in March when initial 2025 customs data were released. These queries were rebuffed, but after a follow up in May Eurostat said French customs had "confirmed that there has been an input error". New data will be supplied by France at an unspecified time this year, it said. By Adam Porter Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Nigeria’s imports of European gasoline hit record low


25/07/07
25/07/07

Nigeria’s imports of European gasoline hit record low

London, 7 July (Argus) — Nigerian imports of European gasoline fell to a record low in June, according to Kpler tracking data, as rising output from the country's 650,000 b/d Dangote refinery sharply reduced demand for the product from the EU, UK and Norway. The drop in Nigerian buying pulled overall west African imports of European gasoline to a four-month low of 926,000t, down from 1.315mn t in May and 20pc lower year-on-year. Nigeria, long the region's largest gasoline importer, slipped behind Togo last month as the Dangote refinery hit its highest monthly run rate since coming online. The country is approaching a turning point in its gasoline trade balance. June arrivals into Nigeria from Europe fell by 56pc on the month to 231,000t — the lowest recorded by Kpler. It also imported 28,000t from offshore Lome and 12,000t from Houston, leaving a total of 271,000t. At the same time, Dangote loaded a record 252,000t of gasoline for export last month. This included 90,000t aboard the Pis Kerinci to Sohar, Oman; 89,000t on the Hafnia Larissa to Pasir Gudang, Malaysia; 35,000t on the Sabaek to Abidjan, Ivory Coast; and a further 39,000t aboard the Sabaek , which has yet to discharge. The country could be on the verge of flipping to net exporter status, given the Dangote refinery has "extra plant capacity to produce gasoline", according to Dangote Group executive director Edwin Devakumar. The plant's naphtha hydrotreating unit has "flexibility to achieve additional production", and Dangote has recently begun buying naphtha to support gasoline output, he said. The fall in Nigerian demand for gasoline imports, combined with weaker-than-expected US consumption, is raising concerns over outlet options for European gasoline this summer, a European trader told Argus . Europe remains a large net exporter of the product. Benchmark non-oxy gasoline barge cracks to front-month Ice Brent crude futures averaged $14.73/bl between 1–4 July, broadly steady on the year and slightly up from $14.62/bl in the same period of 2024. By George Maher-Bonnett Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

European jet premiums collapse on Ice gasoil strength


25/07/07
25/07/07

European jet premiums collapse on Ice gasoil strength

London, 7 July (Argus) — European jet fuel premiums to Ice gasoil futures have nearly disappeared after a steady fall since the ceasefire between Israel and Iran at the end of June, although outright values remain elevated. Argus assessed cif northwest European jet fuel at just a $2.50/t premium to front-month Ice gasoil futures on Friday, 4 July, down from almost $60/t less than two weeks earlier. It is the lowest premium since March 2023. An analyst said the premium has "fallen off a cliff" since the end of conflict between Iran and Israel erased concerns about supply tightness . A ceasefire was called on 24 June, and has held, and jet fuel premiums have continuously fallen since then. Jet premiums are being squeezed in part by strength in Ice gasoil futures — the underlying value in Argus' European middle distillate assessments. Ice gasoil prices also cooled along with tensions in the Middle East, but remained relatively high and are rising again. Having been below $650/t for most of the April-early June period, prices peaked at almost $800/t during the conflict and have stayed above $700/t so far in July. This strength in the underlying futures is keeping outright jet fuel prices above $700/t, after they mostly averaged below that since early April. Jet fuel values typically rise in summer to reflect air travel demand, but with Ice gasoil already high and supply appearing ample to meet peak summer demand, there is little incentive further rises to either premiums or outright values. Jet premiums to Ice gasoil were between $40-60/t and outright values were above $700/t across the whole of summer 2024. Diesel overtakes jet Market participants said significant tightness in the diesel market has caused the rally in Ice gasoil futures. A unviable arbitrage in May and the first half of June muted imports from the Mideast Gulf and India, and an analyst said all arbitrage opportunities for diesel into Europe currently appear closed. Product suitable for blending marine gasoil (MGO) — which is in high demand bow the Mediterranean emissions control area (ECA) has come into force — is restricting gasoil available for diesel blending. This is leading to considerable backwardation in Ice gasoil contracts . The July contract was $44/t above the August contract on 4 July, a 32-month high. Diesel's premium to Ice gasoil futures has surpassed that of jet fuel for the first time since March 2023. Outright cif northwest European diesel prices were more than $7/bl above jet on 4 July, even though jet usually commands a premium at this time of year. This was diesel's widest premium to jet since the same period. Market participants expect jet fuel premiums to rebound but said backwardation must first narrow, which should happen as diesel market tightness eases. Higher diesel imports could come in August, as shipping fixtures indicate the very large crude carrier (VLCC) Nissos Keros may load diesel for northwest Europe in the next few weeks. By Amaar Khan Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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