Marine fuel global weekly market update
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
19 May Spain's Solatio plans green ammonia projects in Brazil Spanish solar energy company Solatio is planning to develop two renewable ammonia production plants in …
19 May Danish plant could produce e-methanol by year end Denmark-based renewables developer European Energy has started construction of a …
19 May Japan's Mol to charter methanol-fuelled methanol ship Japanese shipping company Mitsui OSK Line (Mol) plans to charter a new methanol-fuelled methanol carrier, which …
18 May Share of biofuel in Sweden's road fuel mix up in March The share of biofuels in Sweden's road fuel mix rose for the second consecutive month in March, tracking …
17 May EU biodiesel imports at six-month low: Eurostat EU biodiesel imports fell to a six-month low in March because of …
17 May White House starts review of 2023-25 biofuel rule President Joe Biden's administration has started a final review of biofuel blending requirements from …
17 May Japan's NYK adds fourth LNG-fuelled car carrier Japanese shipowner Nippon Yusen Kaisha (NYK Line) has launched its fourth LNG-fuelled car carrier, as part of …
17 May Infrastructure issues to keep market tight Limited floating storage and regasification (FSRU) shipbuilding availability and rising costs for new liquefaction terminals could …
17 May Ammonia accident would be huge setback: Vopak An increasingly broad swath of industrial sectors have turned their attention to clean ammonia …
17 May Portugal biofuels imports and blending rose in March Portuguese biofuel blending increased in March as …
16 May Envitec to start up four biomethane plants in the US Germany's Envitec Biogas said it plans to start operations "in due course" at four of the …
16 May Corsica Linea signs LNG ferry maintenance agreement French Mediterranean ferry operator Corsica Linea has signed an agreement with Finnish engineering firm Wartsila to …
16 May Japan's K Line to charter LNG-fuelled LNG carrier Japanese shipping firm Kawasaki Kisen Kaisha (K Line) has agreed with domestic trading house Mitsubishi to charter …
16 May Trinidad's March ammonia, methanol output slip Trinidad and Tobago's March ammonia and methanol production both declined in March from a year earlier, reflecting reduced …
16 May EnBW, NYK sign charter agreement for four LNG carriers German utility EnBW has signed long-term charter contracts with Japanese shipping firm NYK Line for …
15 May Egypt signs deal for 40,000 t/yr e-methanol plant Egypt's state-owned Alexandria National Refining and Petrochemicals (ANRPC) and the Egyptian Company for Bioethanol have …
15 May Dutch Stamicarbon to design US green ammonia plant Dutch fertiliser plant technology firm Stamicarbon is to design a US plant for …
15 May Ammonia-run ships for W. Australia exports by 2028: GMF Vessels running on clean ammonia could be deployed on the iron ore route from Western Australia to …
15 May Portuguese LNG sendout ticks up Sendout from Portugal's 6.9mn t/yr Sines import terminal so far this month is on track to rise to …
15 May Spanish biodiesel demand rises, 2022 data revised up Spanish biodiesel demand rose slightly in March …
Conventional marine fuels
19 May PetroEcuador's fuel oil exports rise in 1Q State-owned PetroEcuador said it exported 2.6mn bl (29,210 b/d) of fuel oil in the first quarter of this year, up by …
19 May Fuel oil stock draw pressures ARA product inventories Independently-held oil product stocks at the Amsterdam-Rotterdam-Antwerp (ARA) trading hub shrunk by …
19 May Petrobras suits up for market share battle Changes to Petrobras' pricing policy for diesel and gasoline give the state-controlled company more …
19 May China halves April diesel exports from month ago China's April diesel exports halved from March to hit a …
19 May Higher Chinese coal stocks dampen Pacific Panamax rates Freight rates for Pacific dry bulk Panamax have fallen to a …
19 May Mediterranean refiners voice Russia sanctions ire Refiners in the Mediterranean are becoming increasingly vocal over what they see as …
19 May Diesel dominates Australia's March product imports Australia's refined oil product imports for March were stable against …
18 May Fire reported at Mexico's largest refinery A fire broke out this morning around 10:00am ET at Pemex's …
18 May Tame diesel prices reflect European demand malaise An industrial slowdown impacting European diesel demand appears to be the key driver of the …
18 May Bahrain Sitra refinery upgrade 90pc complete: Source Bahrain's Sitra refinery modernisation and expansion project is more than 90pc complete and will be ready by the end of …
18 May South Korea's GS Caltex seeks rare June-delivery VLSFO South Korean refiner GS Caltex has sought very-low sulphur fuel oil (VLSFO) for June delivery, in a departure from …
18 May Oman readies Duqm secondary units ahead of start-up Oman has begun commissioning secondary units at its new 230,000 b/d Duqm refinery, in preparation for …
18 May Taiwan's CPC to not offer June gasoil on maintenance Taiwanese state-owned refiner CPC is likely to skip its spot offers for June-loading cargoes of ultra-low sulphur diesel while its …
18 May IMO states call for tighter measures on STS transfers Member states of the International Maritime Organisation (IMO) have called for more action to be taken to prevent ‘dark shipping' ship-to-ship (STS) …
17 May Imports from Kuwait weigh on Fujairah bunker market Muted demand and ample supplies of 0.5pc marine fuel in the UAE's Fujairah — the world's third largest bunkering port — have pushed …
17 May Singapore's MPA will not renew New Maritime's licence The Maritime and Port Authority of Singapore (MPA) will not renew Singapore-based New Maritime's bunker craft operator licence, which will expire …
16 May Jamaica to lift asphalt output as HFO demand wanes Jamaica's state-owned oil refiner Petrojam's asphalt production will increase almost five-fold …
16 May Exmar shipping 1Q23 profits jump Belgian LPG shipowner Exmar's profits from its shipping division increased …
16 May Petrobras alters fuel pricing policy Brazil's state-controlled Petrobras is changing its pricing policy for oil products, ditching …
15 May Lowest Ice gasoil volume for delivery since January A total of just 123,200t of Ice May gasoil futures were held at the expiry of the contract on 11 May, which means …
15 May Singapore bunker sales rebound in April Singapore's bunker sales in April totalled 4.25mn t, which was …
15 May China releases second batch of VLSFO export quotas China has released a combined …
15 May Indonesia implements VLSFO price reduction Indonesia's state-owned Pertamina has reduced its Indonesian very low-sulphur fuel oil (VLSFO) bunker prices by about …
15 May Heydar Aliyev refinery to produce ULSD by summer Azeri state-owned Socar's 240,000 b/d Heydar Aliyev refinery is to start producing Euro-5 specification diesel by …
Related news posts
Urea prices remain under pressure on latest sales
Urea prices remain under pressure on latest sales
Amsterdam, 16 April (Argus) — Price indications for urea in north Africa and from the Black Sea have fallen, while fresh sales for Nigerian urea have taken place at $255/t fob, as the market continues to shrug off tensions in the Middle East. Nigerian producer Dangote has sold two 30,000t cargoes of granular urea, probably at around $255/t fob for loading in the second half of this month. Bids were heard in the low $250s/t fob and below last week. Indications for Egyptian granular urea to European markets have slipped to $300-305/t fob with bids at $295/t fob and below. Argus assessed urea at $305-310/t fob Egypt for Europe yesterday. Indications for Algerian urea to Europe broadly span $300-310/t fob. A supplier has sold a small lot of Turkmen granular urea at around $260/t fob Poti for loading in the first half of next month, down from offers around $270/t fob at the end of last week. US loaded barge prices have also slipped to $300-310/short ton fob Nola, framed by bids and offers, having traded at $311/st fob yesterday. Full-April barges traded at $304/st and $305/st fob earlier today. The physical urea market has mostly brushed aside the intensifying tensions in the Middle East, after Iran fired drones and missiles at Israel on 13 April, with two cargoes probably concluding lower at $255/t fob Iran on 15 April . Iran exported about 5mn t of urea last year, while the Middle East accounted for 19mn t out of 52mn t of global trade, Argus data show. By Harry Minihan Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
India’s GSFC seeks revised DAP offers
India’s GSFC seeks revised DAP offers
London, 16 April (Argus) — Indian importer GSFC has asked for revised offers under its 9 April tender to buy 50,000t of DAP. Three trading firms made initial offers and are now negotiating with GSFC. GSFC wants their revised offers submitted by 18 April. The firm had sought offers for 25,000t of natural-coloured DAP and 25,000t of coffee-coloured/brown DAP for May arrival at Mundra/Kandla on India's northwest coast. The lowest offer was around $542/t cfr. GSFC will now accept shipment in May with arrival after the end of the month. DAP prices in India have fallen from the mid-$590s/t cfr in early March as the resumption of Chinese exports encouraged trading firms to offer their lowers in successive tenders. But Indian DAP buying has been limited to state-owned importers. The private sector has stayed on the sidelines while prices remain above the breakeven level of around $509/t cfr, given the DAP nutrient-based subsidy of 21,676 rupees/t for April-September and the maximum retail price of Rs27,000/t. Recent DAP spot offers from trading firms have been as low as around $540/t cfr India. By Tom Hampson Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Singapore offers alternative marine fuel training hub
Singapore offers alternative marine fuel training hub
Singapore, 16 April (Argus) — Singapore plans to offer maritime energy training for seafarers to handle vessels with sustainable marine fuels as the industry advances towards its decarbonisation goals. "With hundreds of crew change conducted daily here, Singapore's Maritime Energy Training Facility (METF) is well placed to support the training of international seafarers. Shipowners and operators can expect time and training cost savings by tapping METF's training facilities," the Maritime and Port Authority of Singapore (MPA) said. A gap in workforce knowledge remains a barrier in the maritime sector's transition to future fuels. This is despite an expected increase in supplies and consumption of alternative marine fuels, accelerated by the International Maritime Organisation's target of net zero greenhouses gas emissions by 2050 . The maritime sector has recognised the need for workforce upskilling and value chain integration . Safety in handling, bunkering and managing alternative fuels like methanol and ammonia is one of the highlights of the METF training, with workers to be trained in a new dual-fuel engine simulator. The METF curriculum also covers methanol firefighting for shipboard and terminal fires conducted by the Singapore Maritime Academy, along with safety protocols used during the first ship-to-container ship bunkering of bio-methanol on 27 July last year. "Around 10,000 seafarers and other maritime personnel are expected to be trained at METF from now to the 2030s, as the facilities are progressively developed by 2026," the MPA announced, adding that the new curriculum will roll out gradually from this year. By Cassia Teo Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Australian new environment agency to speed up approvals
Australian new environment agency to speed up approvals
Sydney, 16 April (Argus) — The Australian federal government announced today it will introduce new legislation in the coming weeks to implement the second stage of its Nature Positive Plan, which includes setting up a national environment protection agency to speed up approval decisions. The planned Environment Protection Australia (EPA) will initially operate within the Department of Climate Change, Energy, Environment and Water until it transitions to become an independent statutory agency, with "strong new powers and penalties" to better enforce federal laws, the government said on 16 April. The EPA chief will be an independent statutory appointment, similar to the Australian federal police commissioner, so that "no government can interfere" with the new agency's enforcement work. The agency will be able to audit businesses to ensure they are compliant with environment approval conditions and issue environment protection orders to anyone breaking the law. Penalties will be increased, with courts able to impose fines of up to A$780mn ($504mn) or jail terms for up to seven years in cases of extremely serious intentional breaches of federal environment law. EPA will also be tasked with speeding up development decisions, including project assessments in areas such as renewable energy and critical minerals. Almost A$100mn will be allocated to optimise the approval processes, with its budget directed to support staff to assess project proposals and help businesses comply with the law. A new independent body Environment Information Australia (EIA) will also be created to provide environmental data to the government and the public through a public website. EIA will need to develop an online database giving businesses quicker access to data and helping EPA to make faster decisions. It will also need to publish state of environment reports every two years. The government said that an audit ordered by environment minister Tanya Plibersek last year found that around one in seven developments could be in breach of their offset conditions, when a business had not properly compensated for the impact a development was having on the environment, highlighting "the need to urgently strengthen enforcement". The planned new legislation is part of the federal government's reform of Australia's environmental laws including the Environment Protection and Biodiversity Conservation Act. Resource project decisions are currently made by the environment minister, with the move to an independent agency will removing any perception of political interference in such decisions, the government said when it first announced the reforms in late 2022. The first stage of the reform was completed late last year with new laws passed to create the Nature Repair Market, with further stages expected to be implemented in the future, the government said. Tight timing Resources industry body the Chamber of Minerals and Energy of Western Australia (CMEWA) welcomed the announcement that the federal government will take a "staged approach" to the implementation of the reforms but noted the timing of EPA's implementation was "tight". "We continue to hold reservations about the proposed decision-making model and will continue to advocate for a model that balances ecologically sustainable development considerations and includes the [environment] minister as the decision maker," CMEWA chief executive Rebecca Tomkinson said. The Minerals Council of Australia (MCA) said that it had been advocating for the creation of EIA, whose future collated data "will provide greater certainty and reduced costs for both government and project proponents", which "may shave years off project development". But it was cautious about potential "unintended consequences" stemming from more bureaucracy. "Australia has one of the most comprehensive environmental approvals processes in the world and the MCA has been clear about the significant risks of duplicative, complex and uncertain approvals processes pose to the minerals sector, the broader economy and the environment if we do not get this right," it warned. By Juan Weik Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
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