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Rotterdam 2Q biomarine sales overtake Singapore

  • Märkte: Biofuels, Oil products
  • 28.07.26

Rotterdam marine biodiesel blend sales in the second quarter were above those in Singapore, according to official data from both ports, the first quarter this has happened since the EU imposed anti-dumping duties (ADDs) on Chinese-origin biodiesel in the third quarter of 2024.

Marine biodiesel blend sales in the Port of Rotterdam were up sharply on the year and more than double the previous quarter (see table).

Market participants reported firmer demand following the start of the US-Iran war. The war changed pricing dynamics between marine biodiesel blends and conventional fuels, leading to discounts for the former. These initially failed to support significant demand growth, evidenced by declining sales in the first quarter. Then, volatility weighed on overall trading activity and buyers were hesitant to make significant changes to their procurement strategy based on what was perceived as an acute price spread at the time.

But demand rose as the war extended, which led to higher blend sales in the second quarter.

An initial agreement to end the war was signed on 18 June by the US and Iran, which led to easing conventional fuel prices and a return to traditional dynamics, with fossil bunker fuels back at a discount to marine biodiesel blends.

But this agreement collapsed and hostilities resumed, leading to sharp increases in oil futures prices and a return to discounts for some marine biodiesel blends.

B100 Advanced fatty acid methyl ester (Fame) dob Netherlands has averaged a discount of about $86/t to marine gasoil (MGO) dob ARA since hostilities restarted, when accounting for EU emissions trading system (ETS) costs for an intra-EU voyage.

In that time, Singapore marine biodiesel prices — which had been mostly cheaper than EU equivalents — posted sharp gains and sales fell as a result.

EU ADDs on Chinese-origin biodiesel supported flows into Singapore, which ended up in the bunker pool, resulting in cheaper prices and higher sales than Rotterdam for more than 18 months. B24 dob Singapore prices averaged $753/t when accounting for EU ETS costs from August 2024 to February 2026, compared with $803/t for the cheapest European option, B30 Advanced Fame and VLSFO dob Netherlands. The latter averaged $1,080/t in March-June this year, compared with $1,110/t for B24 Singapore.

This change is reflected in sales data. Marine biodiesel blend sales in Singapore fell sharply on the year and on the quarter in April-June (see table).

Another reason for the sharp increase in sales could be attributed to changes stemming from the EU's renewable energy directive (RED III). The Netherlands unilaterally implemented RED III mandates for international maritime starting this year.

Participants have pointed to diminishing demand in the Mediterranean region for marine biodiesel blends, particularly from non-passenger vessel segments, some of which may have been absorbed into Rotterdam because of more competitive pricing.

Bio-LNG volumes continued to rise, as it has become a popular option for generating FuelEU Maritime compliance due to a very competitive abatement cost.

Biomethanol sales more than doubled on the quarter, but down on the year. Volumes for ethanol as a bunker fuel were reported in Rotterdam port official data for the first time, following an initial ethanol-methanol blend bunkering operation in May. Ethanol is seen as an option to decarbonise maritime transport and meet regulations, and companies have been trialling its use. Danish shipowner Maersk completed its first voyage using 100pc ethanol in the first quarter on a dual-fuel methanol engine and is investing in further tests.

Rotterdam bunker sales
Fuel2Q 20262Q 2025y-o-y%2Q 20261Q 2026q-o-q%
ULSFO123,190225,992-45.49123,190162,142-24.02
VLSFO354,448679,442-47.83354,448439,804-19.41
HSFO704,637914,672-22.96704,637619,01013.83
MGO/MDO331,347407,877-18.76331,347660,517-49.84
Conventionals total: 1,513,6222,227,983-32.061,513,6221,881,473-19.55
Biofuel blends239,875165,22045.19239,875104,630129.26
LNG (m³)273,021207,65831.48273,021232,26317.55
Bio-LNG (m³)7,5064,75257.957,50615,260-50.81
Bio-methanol2,8453,958-28.122,845996185.64
Ethanol1,025--1,025--
Singapore marine biodiesel sales
Fuel2Q 20262Q 2025y-o-y%2Q 20261Q 2026q-o-q%
Biofuel blends172,720408,390-58245,270364,430-32.70

Rotterdam, Singapore marine biodiesel sales ’000t

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