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Singapore approves B30 bunkering in Type I barges
Singapore approves B30 bunkering in Type I barges
Singapore, 10 March (Argus) — Singapore has approved the bunkering of B30 from 7 March, with the country's Maritime and Port Authority (MPA) announcing that International Maritime Organization (IMO) Type I barges are allowed to transport biofuel blends of up to 30pc at the port. This is the proposed move that was agreed at the 12th session of the IMO's sub-committee on pollution prevention and response earlier this year and is part of the draft interim guidance on the carriage of blends of biofuels and MARPOL Annex I cargoes by conventional bunker ships. The International Convention for the Prevention of Pollution from Ships (MARPOL) is an agreement that covers the prevention of pollution of the marine environment by ships. Annex I covers pollution by oil and oil products carried or operationally used by ships. The draft circular seeks the current limit for biofuel blends at 25pc to be raised to 30pc. B30 is a blend that consists of 30pc used cooking oil methyl ester (Ucome) and 70pc very low sulphur fuel oil (VLSFO). The MPA "accepts this draft for early implementation on board Singapore registered conventional bunker ships with effect from 7 March 2025 onward," it announced on 6 March. The MPA also specified that bunker suppliers and craft operators are still expected to seek port authorities' approval for bunkering pilots and trials of marine fuel blends above 30pc. There are currently trials ongoing for B100 at the port of Singapore. The draft circular is due to be presented for approval at the IMO's 83rd session of Marine Environment Protection Committee (MEPC 83) in April. Meanwhile, this measure by MPA comes as shipowners have been seeking opportunities to bunker B30 in Singapore and Malaysian ports for their voyages to Europe, as part of their efforts to meet current compliance requirements set by FuelEU Maritime that came into effect in January this year. In line with the interest among shipowners, there were spot B30 indications in Singapore on 7 March as a key Asian shipowner reported discussions. Prices were assessed by Argus at $730.50-735.50/t delivered on board (dob) Singapore basis on 7 March, based on indications that were at $245-250/t on a delivered premium basis to VLSFO cargo prices. Argus assessed VLSFO prices at $485.50/t fob Singapore on 7 March. By Mahua Chakravarty Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
VLSFO average viscosity declines in 4Q
VLSFO average viscosity declines in 4Q
New York, 7 March (Argus) — Global average viscosity levels for very low-sulphur fuel oil (VLSFO) in the fourth quarter of 2024 dropped to the lowest level since early 2023, according to the latest data from French classification society Bureau Veritas. VLSFO viscosity levels at 50°C (122°F) averaged 161 centistokes (cst) in the fourth quarter, a 3.5pc decline from the same quarter two years earlier and the lowest since VLSFO viscosity levels were at 155 cst in the second quarter of 2023. Gibraltar had the highest average VLSFO viscosity in the fourth quarter at 259 cst, Bureau Veritas said. Algeciras, Spain, had the second highest average at 256 cst followed by Malta at 230 cst. Busan, South Korea, had the lowest average VLSFO viscosity at 85 cst followed by Houston, Texas, at 92 cst, and Singapore, the world's largest bunkering hub, at 115 cst. Bureau Veritas also released a report compiling marine fuel quality trends in 2024 compared with previous years. The portion of off-specification VLSFO has decreased since 2021 and the average viscosity at 50°C has gone up since VLSFO was introduced in 2020, according to Bureau Veritas. The percentage of off-spec high-sulphur fuel oil (HSFO) increased by 0.5pc last year because of more instances of elevated water levels in the HSFO samples that were tested. A total of 21pc of the samples tested in 2024 was HSFO, Bureau Veritas said. That is 29pc higher than the 16.2pc that HSFO samples accounted for in 2021. More vessels equipped with a scrubber have come on line, boosting HSFO demand. By Luis Gronda Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Brazil’s new Atlanta FPSO exports first crude cargo
Brazil’s new Atlanta FPSO exports first crude cargo
Singapore, 3 March (Argus) — Brazil's newly commissioned Atlanta floating, production, storage and offloading (FPSO) unit has loaded its first cargo of Atlanta crude aboard the Sonangol Namibe in end-February, data from global trade analytics platform Kpler show. This marks the unit's first shipment since achieving first oil in late 2024. Trading firm Trafigura is likely the charterer of the vessel, according to Kpler data. Brava Energia previously announced in February that it sold 6mn bl of oil from its Atlanta field to Singapore-based commodity trader Trafigura. The contract's price is linked to Singapore VLSFO benchmark prices. But the specific price could not be confirmed. Atlanta crude is classified as a heavy sweet crude and is primarily exported to the Singapore straits region, where it is highly valued for very-low-sulphur fuel oil (VLSFO) blending because of its low sulphur content and relatively heavy API content of about 14-16. The FPSO Atlanta unit is operated by independent producer Brava Energia, a Brazilian oil and gas firm created from the merger of oil companies 3R Petroleum and Enauta, with the FPSO chartered from Malaysia's Yinson Production. The unit operates in the Atlanta field in the Santos Basin offshore Brazil, and achieved first oil on 31 December 2024, according to Yinson. Heavy sweet Atlanta crude oil was previously produced from the Petrojarl I FPSO, which was decommissioned in late 2024. This is in line with the last observed export of Atlanta crude in early November, with no shipments recorded until the latest loading in February, according to data from Kpler. The newer Atlanta FPSO can process up to 50,000 b/d of oil, 70pc higher compared to the Petrojarl I, and has a storage capacity of 1.2mn bl, more than a sixfold increase, according to a document from Yinson. This latest development is likely to further pressure the Asian VLSFO market, which is already grappling with ample supplies in Singapore that have weighed on prices. Increased supplies from Brazil, Kuwait's KPC and Nigeria's Dangote are expected to discharge in the region this month, with March arrivals forecast to be over 1mn t higher than in February. But the latest shipment will likely spill over into April's supply and demand balance, given the typical 45–60 day voyage from Brazil to Singapore. By Asill Bardh Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Weak demand weighs on Singapore bio-bunker prices
Weak demand weighs on Singapore bio-bunker prices
Singapore, 28 February (Argus) — Bio-bunker prices at the port of Singapore edged down by 1pc on the month in February on the back of weak demand from shipowners and lower fuel oil values. The price of B24 — a blend of 24pc used cooking oil methyl ester (Ucome) and 76pc very low-sulphur fuel oil (VLSFO) — averaged $698.7/t on a delivered on board (dob) basis, down by almost $10/t compared with January. Spot demand in Singapore remained thin throughout February following the lunar new year celebrations, and shipowners continued to mostly purchase through term contracts. B24 dob Singapore prices averaged $703.8/t in January-February, compared with the 2024 average of $729.5/t. The slow trading activity in February was coupled with a 3pc month-on-month slump in very low sulphur fuel oil (VLSFO) cargo prices to an average of $549.1/t fob Singapore. The delivered premium for B24 versus VLSFO cargo prices was 5.7pc higher on the month at $149.6/t. Ucome prices in China bucked the trend, rising by 2.6pc on the month to average $1,084.7/t fob China in February. Ucome prices in China have been rising in recent days and ended the month at about $1,115/t. Singapore continues to be one of the most competitive ports for shipowners as regional sellers compete to offer bio-bunker prices below other ports, but it lost some ground against ports in China and the EU in February. B24 VLSFO blend prices in Guangzhou were $149.6/t above Singapore values on average in February, which was 3.6pc lower than the January premium, while ARA premiums over Singapore slipped by 16.7pc on the month to $99/t. By Mahua Chakravarty Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
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Argus Sustainable Marine Fuels Conference
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Argus Green Marine Fuels Asia Conference
