A weekly Argus news digest of interest to the conventional and alternative marine fuel markets. To speak to our team about accessing the stories below and access to Argus Marine Fuels, please contact marinefuels@argusmedia.com.
Alternative marine fuels
29 September Holland America fleet connects to shore power Cruise company Holland America has equipped its entire fleet with the ability to access onshore power after its vessel Volendam connected to shoreside electricity on 27 September in Vancouver, British Columbia.
29 September Green shipping progress uneven: BCG, Singapore's GCMD The maritime industry's path to decarbonisation is high priority but progress is uneven and needs a "whole-of-value-chain" and integrated approach, a report by the Global Center for Maritime Decarbonisation (GCMD) and Boston Consulting (BCG) has said.
29 September Shell begins LNG bunkering deliveries to Hapag-Lloyd Shell has started providing LNG bunkering services to German shipping company Hapag-Lloyd's new 12-strong fleet of 23,500-plus 20ft equivalent units container vessels.
29 September Japan's Itochu explores global ammonia bunkering points Japanese trading house Itochu is accelerating its ammonia bunkering studies, exploring more marine ammonia refuelling points with supply chain development globally.
28 September Joint venture may show higher LNG bunker demand A new joint venture plans to build the first LNG bunkering facility in the US Gulf coast, an investment decision that may indicate higher interest in LNG as a marine fuel.
28 September Dutch marine biotickets reduction could dent demand The Netherlands' plan to reduce the multiplier of advanced Fatty acid methyl ester (Fame) in marine shipping could dent Rotterdam biofuels bunker demand next year.
28 September Tighter LNG market lifts oil-indexation slopes The percentage of oil prices under long-term contracts using oil indexation has increased as the LNG market has turned into a seller's market, TotalEnergies' chief executive Patrick Pouyanne said.
27 September Gibraltar performs first in-port LNG bunkering Shell has completed the first LNG bunkering operations in the port of Gibraltar, rather than offshore the port, the firm said.
27 September Madoqua plans 260,000 t/yr e-methanol plant in Portugal Portuguese-Dutch project developer Madoqua is planning to build an e-methanol production facility with 500MW electrolyser capacity in Leiria, central Portugal, the firm's environment and sustainability director Ines Diogo has told Argus.
27 September China's NEA holds meeting to push B5 biodiesel trials The National Energy Administration (NEA) held a meeting with Chinese biodiesel producers in Shanghai this week to encourage biodiesel trial applications, although no solid timeline was provided.
27 September Biofuel production limited by feedstocks in 2030: IEA Biofuels production rates are not currently on track to meet the 2030 demand that the IEA estimates in the updated Net‐Zero Emissions Scenario (NZE) as feedstock availability proves limiting.
27 September Shipping must balance growth with zero-carbon: UNCTAD The United Nations Conference on Trade and Development (UNCTAD) made several recommendations to the maritime sector in its 2023 review of maritime transport, published today, in order to decarbonise the shipping industry.
26 September Finland's Hamina to offer bio-LNG in 2024 Finland's small-scale Hamina LNG import terminal will start offering bio-LNG next year, with the first pilot deliveries to start in early 2024, Rohe Solutions, a joint venture between Hamina Energy and Estonia's Alexela, has said.
26 September Japan to fund study to cut marine ammonia N2O emissions Japan plans to fund research in reducing nitrous oxide (N2O) emissions from ammonia-fuelled marine engines, aiming to meet the International Maritime Organisation's revised greenhouse gas (GHG) emissions target of net zero by or around 2050.
26 September Japanese major shipping firms invest in LH2 transport Japanese shipping firms Kawasaki Kisen Kaisha (K-Line), Mitsui OSK Line (Mol), and Nippon Yusen Kaisha (NYK) are buying stakes in JSE Ocean, a firm established to develop seaborne liquefied hydrogen transportation using liquefied hydrogen carriers.
26 September Altens supplies B100 marine biofuel French fuels distributor Altens has supplied French cruise line Ponant with renewable biofuel B100.
25 September Portugal's biofuels blending at record high in July Physical blending of biofuels as a percentage of road fuels in Portugal climbed to its second highest on record and an all-time high for July, but a sharp drop in imports that month suggest blending fell in August.
Conventional marine fuels
29 September Fuel costs trim Carnival's 3Q profit US cruise ship operator Carnival reported a quarterly profit for the first time since 2020 on stronger booking volumes, but its gains were trimmed by higher fuel prices.
29 September East of Suez diesel markets to tighten Russia's ban on motor fuel exports coincides with refinery maintenance in Saudi Arabia and India and is likely to curb Mideast Gulf diesel trade to Europe.
29 September Chinese diesel exports to fall even as supply rises Chinese oil companies will likely decrease diesel exports in the fourth quarter, as transport fuel export quotas are running low and the government has indicated that it will not issue any further quotas this year.
29 September Med diesel storage continues to be drawn Storage firms in Spain and the Mediterranean said diesel stocks continue to be drawn, with some citing 2024 before supplies can be replenished. Tanks are emptying in Spain even as the country reports a 10-year high in imports.
29 September Asian product markets shrug off tight supply prospects The Asian transportation fuels market has had a muted reaction to China's decision not to issue more export quotas, as it shrugs off the prospect of reduced Chinese supplies.
28 September New bulker orders rise on higher freight The bulk carrier newbuild market was lively in the week to 24 September, with 12 Ultramax vessels ordered.
27 September Prostar sells storage terminal in Fujairah Private equity group Prostar Capital has sold its storage terminal facility in the key storage and bunkering hub of Fujairah, UAE, to Bahrain-headquartered trading firm Mercantile and Maritime Group (M&M).
28 September Diesel markets braced for tightening supply Russia's temporary ban on diesel exports will primarily affect supply to Turkey and Brazil. But the way those markets react to the loss of Russian imports threatens much wider disruption, as supply tightens in Europe, the US and beyond.
27 September Pemex's diesel imports down, output up in August State-owned Pemex's diesel imports into Mexico decreased by 20pc in August from a year earlier as stronger production reduced demand for imports.
27 September Dredging halts lower Mississippi transit Dredging on the lower Mississippi River at Vicksburg, Mississippi, will prevent transit for 24 hours beginning today, compounding with persistent low water levels that threaten additional delays heading into the fourth quarter.
26 September Petroecuador restarts La Libertad refinery unit Petroecuador resumed operations today at a 9,500 b/d unit of the 45,000 b/d La Libertad refinery on Ecuador's Pacific coast after 32 days of maintenance.
26 September Higher freight rates support vessel secondhand sales A rising spot freight market is supporting interest in secondhand dry bulk vessels and gas tankers this month.
26 September NE Asia distillates increasingly flow to Latin America Northeast Asia's middle distillates exports to Latin America are on course to rise to at least a six-month high, as a slight supply boost saw Asian prices become more competitive than usual sources.
25 September Partners to provide offshore bunkering in Brazil Danish bunker supplier Bunker One and independent Brazilian refiner Acelen have launched a new, offshore bunker supply operation outside the Port of Itaqui in northern Brazil.
25 September NE Asia MR rates fall on lower demand, bunker costs Clean Medium Range (MR) freight rates from northeast Asia slipped on reduced chartering activities and lower bunker costs.
25 September Fire hits Kuwait's Mina al-Ahmadi refinery A fire has hit one of the units at the 346,000 b/d Mina al-Ahmadi refinery on 22 September, according to a spokesperson from Kuwait's state-owned refiner KNPC.
