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
6 October Shipper CMA CGM to add EU CO2 fuel surcharge France-based container shipping company CMA CGM will add a CO2 fuel surcharge to the freight rates of its vessels traveling to, from and within EU's territorial waters.
6 October LatAm eyes net LNG exports by 2030 Latin America could become a net LNG exporter by 2030 if proposed liquefaction projects reach final investment decisions (FID) in time, and if increased availability of domestic gas supply reduces reliance on LNG imports.
6 October Ukraine plans new measures to boost biomethane sector Ukraine is considering a raft of legislative proposals to increase the viability of exporting biomethane to Europe and enhance the industry's appeal to foreign investors, member of parliament Andrii Zhupanyn said at the Forum on Ukraine Renewable Gases last week.
5 October Rotterdam discount a fraction of low-carb bunker bill The port of Rotterdam will offer a port fee reduction for container ships that fuel with sustainable marine fuels as part of the launched Zero Emission Maritime Buyers Alliance (ZEMBA) initiative. But the port fee discount would amount to less than 0.1pc of the increased low-carbon bunker bill.
5 October Advanced German tickets pressure Ucome European spot prices for waste-based biodiesel have fallen significantly since reaching a more than six-month high on 18 August, as high volumes of renewable fuel tickets wash around key demand centres such as Germany.
4 October AES to expand LNG bunkering for Panama Canal Canadian shipbuilder Seaspan has agreed with energy company AES to help provide LNG bunkering services for vessels transiting the Panama Canal by November.
4 October Indonesia to boost 2023 biodiesel consumption: USDA The US Department of Agriculture (USDA) forecasts Indonesia's 2023 biodiesel consumption to rise by nearly 30pc from a year earlier to 13bn litres (11.4mn t) because of higher blending rates and an expected rise in diesel consumption.
4 October Dutch gov consults on move to GHG reduction system The Dutch government has started a public consultation on proposed changes to its Environment Management Act, to start the transposition of the EU's revised Renewable Energy Directive (RED III) into national law.
4 October Dutch HBE bookings down on 2022 carry over: Update Dutch oil companies booked 5.87mn of 2023 renewable fuel tickets (HBE) into the Energy for Transport Register (REV) by 1 October, down by 50pc compared with the same time last year. But the number of HBEs carried over from the previous compliance year was 58pc higher than a year earlier.
3 October Cosco fuels with B24 in Singapore Chinese state-owned Cosco Shipping fueled with B24 marine biofuel in Singapore.
3 October LSB plans 1.1mn t/yr joint low-carbon ammonia venture US fertilizer producer LSB Industries, along with global leaders in energy and chemicals — Air Liquide, Inpex and Vopak — plan to jointly develop a 1.1mn t/yr low-carbon ammonia export-oriented plant on the Houston Ship Channel by 2027.
2 October Cepsa begins supplying biodiesel to Port of Barcelona Spanish integrated energy firm Cepsa started distributing marine fuel blended with used cooking oil methyl ester (Ucome) biodiesel in the Port of Barcelona, and plans to expand to other Spanish ports.
2 October Singapore Exchange starts ammonia derivative contracts The Singapore Exchange (SGX) has launched its first ammonia swap and futures contracts today, allowing companies to hedge against price volatility as the energy transition increasingly fuels growth in the industry.
2 October Tsuneishi to build 4 methanol-fuelled container ships Japanese shipbuilder Tsuneishi Shipbuilding will build four methanol-fuelled5,900twenty-foot equivalent unit (TEU) container vessels.
2 October Sener designs LNG ships with carbon capture Spanish engineering and technology company Sener has designed a pair of LNG-fueled vessels with carbon capture capability that tentatively will begin operating in two years.
Conventional marine fuels
6 October NWE fuel oil imports lowest since 2016 Fuel oil imports to northwest Europe fell sharply in September to the lowest since at least 2016.
6 October Tanker secondhand values start to wane Prices for 10- and 15-year old tankers have fallen slightly in recent months, as activity has slowed because of greater concern about sanctions since oil and product prices breached the caps imposed by the G7 countries this summer.
6 October High Supramax orders lead newbuild market The newbuild vessel market was dominated by orders for Supramax dry bulk carriers in the week ending 1 October, driven by a shortage of these vessels on some routes.
5 October ARA stocks buoyed by light ends build-up Independently-held oil products stocks at the Amsterdam-Rotterdam-Antwerp (ARA) trading hub were buoyed by gasoline and naphtha stocks as they inched higher by 0.2pc in the week to 4 October.
5 October Sweden's Preem owner considers sale Sweden's oil products and renewable fuels producer Preem could be put up for sale by its parent company, Corral Petroleum Holdings, after Saudi businessman Mohammed al-Amoudi, its sole shareholder, ordered a strategic review process.
5 October Low water spurs additional lower Miss delays Three different locations on the lower Mississippi River had 24-hour closures due to dredging this week, further challenging barge transit as shippers prepare for upcoming river close dates.
4 October GulfNav bids to buy UAE storage firm BPGIC Dubai-based maritime company Gulf Navigation Holding (GulfNav) has submitted a proposal to fully acquire UAE storage firm BPGIC from Brooge Energy.
4 October Ecuador fuel oil exports drop Ecuadorian residual fuel oil exports dropped year to date through Augustfrom a year earlier, amid lower production and increased domestic demand.
3 October Panama bunker sales dip on lower traffic Panama bunker sales dropped by 11pc in August from a year earlier, reflecting cuts in vessel transits because of declines in water flows from lakes that feed the canal.
3 October Panama Canal reduces daily Neopanamax slots to nine The Panama Canal Authority (APC) has reduced daily available Neopanamax slots to nine from 1 November from 10 presently, reducing the capacity for LNG carriers to transit the canal.
3 October Shell launches LNG bunkering vessel in Caribbean Shell's 18,000m³ New Frontier 2 LNG bunkering vessel completed its first ship-to-ship LNG bunkering operation in Jamaica, the firm said on Monday.
2 October Japan's KHI, MHI deliver LPG-fired LPG, ammonia VLGC Japanese major shipbuilders Kawasaki Heavy Industries (KHI) and Mitsubishi Heavy Industries (MHI) haveeachdelivered a new very large gas carrier (VLGC) with an installed dual-fuel LPG engine to carry LPG and liquefied ammonia.
