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Q&A: Bio-bunkers pivotal to low-carbon transition
Q&A: Bio-bunkers pivotal to low-carbon transition
Singapore, 7 July (Argus) — Equatorial Marine Fuel (EMF) is a leading Singapore-based physical supplier of marine fuels. The company has an existing fleet of 21 vessels and bunkers conventional fuels as well as emerging green fuels, like B24 and B30 blends. EMF was the largest volume supplier of marine fuels at the port in 2023, according to the Maritime and Port Authority of Singapore (MPA). The company is expanding its footprint into supplying green marine fuels and is supplying biofuel blends. Argus ' Mahua Mitra spoke with the company's chief operating officer Choong Sheen Mao about the potential and challenges lying ahead for marine biodiesel and other emerging fuels. What is EMF's strategic position on bio-bunker fuels within Singapore's marine fuel mix? Equatorial believes that bio-bunkers will continue to play a pivotal role in the maritime industry's transition towards low- and zero-carbon marine fuels. In the near-term, biofuels are the most price-competitive low-carbon marine fuel. In the mid- to long-term, however, it remains to be seen whether biofuels' comparative ability to scale coupled with the diversion of supply to other industries will cause biofuels to be less competitive. Equatorial is focused on the now. Our volume and variety of biofuel bunker deliveries have increased. We have been looking at this space closely over the past few years, having obtained our International Sustainability and Carbon Certification (ISCC) in 2022 and performed our first biofuel delivery in 2023. We continue to monitor and participate in the development of other alternative marine fuels as well. Given the regulatory requirements around biofuel delivery, what is your assessment of Type II barge availability in Singapore? Conventional bunker tankers operating in the Port of Singapore have been allowed to carry and deliver biofuels up to B30 since 7 March 2025. While there will be more Type II barges available in Singapore, this may not have a material impact on biofuel deliveries in the near term as most deliveries are still either B24 or B30. In any event, Equatorial has invested in four 7,999 deadweight tonne (dwt) IMO Type II chemical and oil bunker tankers capable of carrying and delivering methanol and biofuels up to B100. Two of these Type II barges have been delivered at the start of this year, and we are looking at two more to be delivered in the third or fourth quarter of 2025. Equatorial is in a position to actively participate in supplies of biofuels up to B100. Which types of biofuel blends (e.g., B24, B30) are you seeing increased demand for in the near term? What market, regulatory, or operational factors are shaping these preferences among your clients? The considerations regarding the use of alternative marine fuels depends on a myriad of factors including but not limited to the vessel's trading area, business model, and end-customer/consumer base. The increasing demand of B24 and B30 bio-fuel blends fluctuate between these regulatory and commercial concerns. The GHG Fuel Intensity (GFI) framework, in combination with a pricing and reward mechanism that was recently approved by the International Maritime Organisation's (IMO) Marine Environment Protection Committee (MEPC) during its 83rd session (MEPC 83) in April 2025, will be the single most significant consideration for our clients. If formally adopted in October 2025, it will be mandatory for large ocean-going ships over 5,000 gross tonnage, which emits 85pc of the total CO2 emissions from international shipping. It would then enter into force in 2027. For vessels trading with the EU, they would already be familiar with the European Union (EU) Emissions Trading System (ETS) on carbon allowances and FuelEU Maritime penalties. Is EMF considering entry into the LNG bunkering segment, either directly or through strategic collaboration? Equatorial has ordered a 20,000m³ LNG bunkering vessel to be delivered in 2027. With the global demand for LNG as a marine fuel projected to increase substantially over the next few years, Singapore, the world's largest bunkering hub, is a strategic location for LNG bunkering. The key concern is how soon existing bunkering infrastructure should be further scaled to meet the increase in demand. When it comes to bio-blend trading, what are the most significant challenges you anticipate? Presently, the most significant challenges are still demand and price-competitiveness. Lower oil prices would mean biofuel feedstocks are relatively expensive. These are uncertain times, nonetheless, and geopolitical development remains highly uncertain, and, as such, commodity prices highly volatile. Bunker buyers will always opt for the most economical means to comply with regulations and requirements. Equatorial continues to manage business risk by working closely with customers on their requirements and closely monitoring international affairs and markets. By Mahua Mitra Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Australia’s BHP charters ammonia-fuelled carriers
Australia’s BHP charters ammonia-fuelled carriers
Sydney, 2 July (Argus) — Australian miner BHP and China's largest shipping company Cosco have signed a deal to charter two ammonia dual-fuelled Newcastlemax bulk carriers, expected to be delivered in 2028, BHP announced today. The vessels will be used as part of BHP's 255mn-265.5mn t/yr iron ore trade on shipments between Western Australia (WA) and northeast Asia, the miner said on 2 July. Ammonia-fuelled transport will cut greenhouse gas (GHG) emissions by 50-95pc per voyage compared with traditional bunker oil, BHP said. BHP will continue to work on an ammonia bunkering plan in WA ahead of delivery, it said. Several companies are eyeing blue and green hydrogen opportunities in the Pilbara iron ore mining region to meet expected maritime demand. Cosco in January ordered eight Newcastlemax bulk carriers with methanol- and ammonia-ready class notation, allowing for bunkering using either fuel once an engine is selected. The Pilbara region's proximity to offshore gas fields and local port authority Pilbara Ports' status as the world's largest bulk operator has led firms including blue ammonia developer NH3 Clean Energy to plan bunkering facilities in WA. Norwegian firm Yara, which operates the 800,000 t/yr Pilbara ammonia plant, is exploring carbon capture and storage deals to cut its GHG emissions, while jointly developing a 10MW, 640 t/yr green hydrogen facility at the site due to come on line in late 2025 . Danish investment fund CIP's Murchison Green Hydrogen project was awarded A$814mn ($535mn) in federal government production credits in March for a proposed green ammonia export facility expected to commence operations in WA's Mid West region in 2032. Ammonia bunkering on the WA-China iron ore corridor could meet up to 5pc of total shipments annually by 2030 , but this would require 23 vessels operating around 70 Newcastlemax voyages by 2028, according to a 2023 Global Maritime Forum feasibility study. Fellow member of the "big four" iron ore producers in Pilbara Australian miner Fortescue signed an initial agreement with Cosco in 2024 for green ammonia-powered vessels . It signed a chartering agreement with shipowner Bocimar in April 2025 for an ammonia-fuelled carrier to be delivered by late 2026. By Tom Major Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
European bio-bunkers: Prices diverge, abatements firm
European bio-bunkers: Prices diverge, abatements firm
London, 1 July (Argus) — European marine biodiesel prices diverged as prices in underlying markets also diverged on Tuesday. In prompt biodiesel markets, outright used cooking oil methyl ester (Ucome) and Advanced Fatty acid methyl ester (Fame) 0 barge prices rose sharply at the close. In fossil markets, the front-month Ice Brent crude and gasoil futures contracts diverged again at 16:30 BST. Delivered VLSFO and MGO prices were mostly close to steady in ARA and GAC, except for VLSFO dob ARA, which fell by $10/t. Marine biodiesel blend prices diverged along the type of biofuel used, as prices for Advanced Fame-based blends picked up while Ucome-based blends eased. Calculated B30 Advanced Fame 0 dob ARA prices, which includes a deduction of the value of Dutch HBE-G renewable fuel tickets, gained $2.38/t to $725.70/t. And calculated B100 Advanced Fame 0 dob ARA prices also increased by $31.29/t to $1,215.18/t — a one-year high. B30 Ucome dob ARA values, on the other hand, eased by $5/t to $820/t, reflecting reported market indications. In the west Mediterranean, Argus assessed B24 dob Algeciras-Gibraltar lower by $10/t on the day at $750/t, also in line with indications. Argus assessments for FuelEU Ucome-MGO abatement and Ucome-VLSFO abatement prices firmed by $8.88/tCO2e to $323.80/tCO2e and by $12.89/tCO2e to $363.70/tCO2e respectively. The increase in Ucome fob ARA prices outpaced higher MGO barge levels, while VLSFO fob northwest Europe values edged lower on the day, lending support to abatement prices. EU ETS prices rebounded to $82.40/t from $80.46/t, but ETS-inclusive premiums held by marine biodiesel blends against their fossil counterparts mostly widened. B30 Ucome dob ARA's ETS-inclusive premium to VLSFO dob ARA rose by $3.73/t to $289.11/t. B30 Advanced Fame 0's ETS-incorporated premium to VLSFO gained $11.11/t to $194.82/t, while B100 Advanced Fame 0's premium to MGO firmed by $28.43/t to $379.75/t, a two-month high. But the ETS-inclusive premium held by B24 dob Algeciras-Gibraltar to VLSFO dob GAC narrowed by about $13/t to $184.89/t. Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
LNG as marine fuel demand could rise by '35: Correction
LNG as marine fuel demand could rise by '35: Correction
Corrects statement on US LNG exports in paragraph 6. New York, 23 June (Argus) — Demand for LNG as a marine fuel will increase within the next 10 years if supply is boosted by exports from the US and Russia, according to Danish bunker supplier Monjasa. An increase in US and Russian LNG exports would make it a more viable option in the marine fuel market compared with conventional bunker fuel, Monjasa chief executive, Anders Østergaard said today at the Marine Money convention in New York. "If more Russian and more American LNG would come into the global markets, then I truly believe — and we've seen that before the war between Russia and Ukraine — that the price of LNG would beat the price of both fuel oil and diesel oil," Østergaard said. Conventional marine fuels, such as high-sulphur fuel oil and very low-sulphur fuel oil, will remain the dominant fuels in the bunker market in the next 10 years like it is today, according to Østergaard. Demand for other potential alternative marine fuels, like ammonia and methanol, are not likely to pick up by 2035 because the cost to use those fuels is not competitive unless regulations to use those fuels are changed, he said. The US is currently the largest global LNG exporter. Former US president Joe Biden's administration paused issuing export licenses for new LNG terminals last year. President Donald Trump lifted the ban earlier this year and has been approving export licenses for proposed LNG terminals. The EU has relied less on Russian gas and oil imports since Russia invaded Ukraine in 2022 and it is proposing to phase out all gas and oil imports by January 2028. By Luis Gronda Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
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