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
2 June Q&A: Brazilian ethanol output may boost low-cost H2 Brazil's mines and energy ministry MME has reaffirmed its commitment to establish a legal framework for hydrogen production, which so far has just totatled about…
1 June Shell urges more action to decarbonize shipping sector Shipping volumes and CO2 emissions both ended 2021 up by 6pc from when Shell published its initial shipping decarbonization report in...
1 June Danish supplier takes on methanol-ready bunker tanker Danish marine fuel supplier Bunker One said it is ready to supply methanol as an alternative bunker fuel to ships calling at the Scandinavian ports ...
1 June Braya's biofuel refinery gets C$86mn boost from feds The 130,000 b/d refinery in Come-by-Chance, Newfoundland and Labrador is getting up to a ...
1 June EU biofuel sector calls for measures on Chinese exports European waste-based and advanced biofuels association Ewaba is calling on the EU to introduce "bold measures" on products certification, as stronger ...
1 June Eni to supply Azimut Benetti Group with HVO Eni Sustainable Mobility said its HVO fuel can reduce emissions by up to 90pc compared with conventional fossil-based bunker fuels.
1 June Indonesia cuts 1H June palm export taxes, levies Indonesia has decreased export duties and levies on palm oil products for the first half of June, after the crude palm oil (CPO) reference price ...
1 June Shipowner TCT to buy methanol vessels Dutch shipowner Tune Chemical Tankers (TCT) has placed an order with Turkish shipbuilder Tersan Shipyard to buy up to four methanol-powered vessels.
31 May Total, Belgium's TES plan $2bn e-methane plant in US TotalEnergies and Belgian start-up Tree Energy Solutions (TES) are considering a US production plant to make synthetic methane by combining ...
31 May Container ship LNG bunkering to rise: MSI LNG as a bunker fuel will likely sell at about 40pc discount to very low-sulphur fuel oil (VLSFO) in 2024, according to ...
31 May Trade body presents guide to methanol as bunker fuel Methanol retains a higher energy density compared with other alternative marine fuels such as LNG and ammonia, making it a more…
31 May Grieg Maritime buys ammonia-ready vessels The ships will be able to run on conventional bunker fuels, but will have the flexibility to run on the alternative marine fuel, when it becomes ...
31 May Transatlantic Capesize rates drop 19pc today "Ultimately in the shipping market, everyone is a price taker, and therefore you just have to fix at the best rate in front of you," Grimes said.
30 May Western Canada could export low-c ammonia to Japan Canadian midstream operator Pembina agreed with Japanese trading firm Marubeni to export low-carbon ammonia from a ...
30 May Ocean Yield to acquire ammonia-ready bulk carriers Norway-based vessel owner Ocean Yield will acquire eight or nine ammonia-ready ...
30 May Neste uses co-processed fuel in HVO tanker shipments Finnish biofuel producer Neste has started fuelling tankers Suula and Kiisla with co-processed marine fuel to ...
30 May Brazil's Acelen eyes HVO, SAF export market Abu Dhabi state-owned Acelen, which owns Brazil's largest privately-owned oil refinery, plans to build a biorefinery in Bahia state that will produce hydrotreated vegetable oil (HVO) and ...
29 May China Merchants orders more LNG carriers Chinese shipowner China Merchant Energy Shipping (CMES) has ordered two LNG carriers from state-owned shipbuilder China State Shipbuilding's (CSSC) Dalian shipyard.
Conventional marine fuels
2 June Tight market supports HSFO margins in Europe Options for replacing fuel oil imports from Russia are limited at present, tightening supply, writes Hussein al-Khalisy London, 2 June (Argus) — High-sulphur fuel oil (HSFO) margins in northwest Europe are strengthening on ...
2 June Oversupply pressures Mideast Gulf gasoil Middle distillates are piling up in the Mideast Gulf as a stream of diverted Russian exports meets output from new refineries, depressing spot market values.
1 June USGC fuel oil stocks surge in May While the EIA does not cite grade, market participants had cited increased availabilities of both low-sulphur and high-sulphur fuel oil, as ...
1 June Pakistan's PRL offers rare fuel oil on lean demand Pakistan's state-owned marketer PSO, a major fuel oil importer, has also not bought any cargoes since October last year as ...
31 May Uniper exits UAE marine fuel trading business Uniper's 67,000 b/d Fujairah refinery was sold to a consortium comprising global trading firm Montfort, a major supplier of bunker-grade…
31 May Minerva supplies bunker fuels in Egypt Marine fuel supplier Minerva Bunkering has started bunker deliveries in Egypt, with 10 vessels already refuelled.
31 May Chinese oil stocks swell as exports slow Net fuel oil imports trebled from March to 300,000 b/d last month, as ...
31 May Stocks draw as diesel demand rises Chinese diesel stocks are finally starting to drop as ...
31 May Political uncertainty hits Ecuador transmission tender These fields largely use diesel and fuel oil to generate electricity.
31 May Japan temporarily shuts 1mn b/d refining capacity Lower runs also weighed on Eneos and Cosmo's profits ...
30 May Japan's bioethanol imports remain low Japan has reduced its bioethanol purchases this year, with ...
30 May Russian 1Q bunker sales up 21pc Bunker sales at the Russian Arctic Sea ports were up 13pc at ...
30 May Low Australian LR2 prices subdue SE Asian Aframax rates The lower bunker prices would save shipowners about $9,500 on their ballasting costs.
30 May Tsakos' 1Q profit grows on doubled rates Greece-based shipowner Tsakos Energy Navigation's earnings for its fleet more than ...
29 May Singapore's fuel oil tightness to ease slightly in June Singapore's average fuel oil inventories in May have fallen to multi-year lows on ...
Related news posts
Brightmark to build Georgia pyrolysis plant
Brightmark to build Georgia pyrolysis plant
Houston, 24 April (Argus) — Chemical recycler Brightmark plans to build a 400,00t/yr pyrolysis plant in Thomaston, Georgia, two years after the company terminated its plan to build a similar plant in a nearby Georgia community. Pyrolysis is a form of chemical recycling that breaks down used plastic into pyrolysis oil, which can then be reprocessed into new plastics at virgin polymers facilities. The 2.5mn ft² plant will cost $950mn, including infrastructure such as roads and rail access, Brightmark said. A previous plan to build a chemical recycling facility in Macon, Georgia, ended in 2022 after Mayor Lester Miller withdrew his support, citing "long-term safety concerns" from Brightmark's "unproven process". The company finished construction of its first chemical recycling plant in Ashley, Indiana, in 2022. Brightmark said it has recycled 2,000t of plastic waste so far at its Indiana plant, well behind its anticipated volume of 100,000 t/yr. By Zach Kluver Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Cepsa supplies HVO bunker fuel in Algeciras
Cepsa supplies HVO bunker fuel in Algeciras
London, 24 April (Argus) — Spanish refiner and bunker fuel supplier Cepsa has recently delivered 150t of 100pc hydrotreated vegetable oil (HVO) by truck to the Ramform Hyperion at the port of Algeciras. The supply follows market participants reporting firmer buying interest for HVO as a marine fuel from ferry lines in the Mediterranean in recent sessions. The supplied HVO is said to be of class II, with used cooking oil (UCO) as the feedstock. Cepsa added that the supply was completed in cooperation with Bunker Holding subsidiary Glander International Bunkering, and could bring about a greenhouse gas (GHG) emissions reduction of up to 90pc compared with conventional fuel oil. Cepsa will also look to obtain capability to supply marine biodiesel blends exceeding 25pc biodiesel content by the end of the year, delegates heard at the International Bunker Conference (IBC) 2024 in Norway. This also follows plans by Cepsa to build a 500,000 t/yr HVO plant in Huelva , set to start production in the first half of 2026. Argus assessed the price of class II HVO on a fob Amsterdam-Rotterdam-Antwerp (ARA) basis at an average of $1,765.54/t in April so far, a premium of $906.41/t to marine gasoil (MGO) dob Algeciras prices in the same month. By Hussein Al-Khalisy Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
EU adopts sustainability due diligence rules
EU adopts sustainability due diligence rules
Brussels, 24 April (Argus) — The European parliament has formally approved a Corporate Sustainability Due Diligence Directive (CSDDD), which will require large EU companies to make "best efforts" for climate change mitigation. The law will mean that relevant companies will have to adopt a transition plan to make their business model compatible with the 1.5°C temperature limit set by the Paris climate agreement. It will apply to EU firms with over 1,000 employees and turnover above €450mn ($481mn). It will also apply to some companies with franchising or licensing agreements in the EU. The directive requires transposition into different EU national laws. It obliges member states to ensure relevant firms adopt and put into effect a transition plan for climate change mitigation. Transition plans must aim to "ensure, through best efforts" that business models and company strategies are compatible with transition to a sustainable economy, limiting global warming to 1.5°C and achieving climate neutrality by 2050. Where "relevant", the plans should limit "exposure of the company to coal-, oil- and gas-related activities". Despite a provisional agreement, EU states initially failed to formally approve the provisional agreement reached with parliament in December, after some member states blocked the deal. Parliament's adoption — at its last session before breaking for EU elections — paves the way for entry into force later in the year. Industry has obtained clarification, in the non-legal introduction, that the directive's requirements are an "obligation of means and not of results" with "due account" being given to progress that firms make as well as the "complexity and evolving" nature of climate transitioning. Still, firms' climate transition plans need to contain "time-bound" targets for 2030 and in five-year intervals until 2050 based on "conclusive scientific" evidence and, where appropriate, absolute reduction targets for greenhouse gas (GHG) for direct scope 1 emissions as well as scope 2 and scope 3 emissions. Scope 1 refers to emissions directly stemming from an organisation's activity, while scope 2 refers to indirect emissions from purchased energy. Scope 3 refers to end-use emissions. "It is alarming to see how member states weakened the law in the final negotiations. And the law lacks an effective mechanism to force companies to reduce their climate emissions," said Paul de Clerck, campaigner at non-governmental organisation Friends of the Earth Europe, pointing to "gaping" loopholes in the adopted text. By Dafydd ab Iago Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
New ISO 8217 eyes wider scope for alternative fuels
New ISO 8217 eyes wider scope for alternative fuels
London, 24 April (Argus) — The 7th edition of ISO 8217, to be published in the second quarter of this year, will outline a broader integration of marine biodiesel blending, delegates heard at the International Bunker Conference (IBC) 2024 in Norway. Tim Wilson, principal specialist fuels of Lloyds Register's fuel oil bunkering analysis and advisory service (FOBAS), presented on the upcoming iteration of the ISO 8217 marine fuel specification standard, which will be released at IBC 2024. The new edition will incorporate specification standards for a wide range of fatty acid methyl ester (Fame)-based marine biodiesel blends up to B100, 100pc hydrotreated vegetable oil (HVO), as well as synthetic and renewable marine fuels. This will also include additional clauses to cover a wider scope, and briefly touch on biodiesel specifications that do not entirely align with road biodiesel EN-14214 specifications. This follows the emergence of widening price spreads for marine biodiesel blends because of specification differences and the lack of a marine-specific standard for the blends. The new edition of ISO 8217 is also expected to remove the limit of 7pc Fame when blended with distillate marine fuels such as marine gasoil (MGO) which was in place in the previous ISO 8217:2017. Other changes to distillate marine biodiesel blends include changes to the minimum Cetane Index, oxidation stability alignment to be connected to either ISO 15751 for blends comprising 2pc or more of Fame biodiesel and ISO 12205 for blends comprising a Fame component of under 2pc. Cold-filter plugging point (CFPP) properties will be determined by the vessel's fuel storage tanks' heating capabilities and requirements will be set in place to report the CFPP for distillate marine biodiesel grades, according to the new edition of the marine fuel specification standard. Wilson said that a minimum kinematic viscosity at 50°C will be in place for various forms of residual bunker fuel oil along with a viscosity control alerting suppliers to inform buyers of the exact viscosity in the supplied fuel. He said they have seen delivered fuel viscosity come in at much lower levels than ordered by the buyers, which was the reasoning behind the viscosity control monitoring requirement. By Hussein Al-Khalisy Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
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