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Rotterdam biomarine fuel sales rebound in 2Q
Rotterdam biomarine fuel sales rebound in 2Q
London, 14 July (Argus) — Sales of marine biodiesel blends in Rotterdam rose by 59pc in April–June from the previous quarter, and bio-LNG sales hit a record quarterly high, driven primarily by demand linked to the EU's FuelEU Maritime regulation. But marine biodiesel sales were still 29pc lower than in the same quarter last year, reflecting weaker voluntary demand and a shift in container-liner volumes to east of Suez, where prices have been more competitive. Spot demand for marine biodiesel was mixed during the quarter. Most activity in the Amsterdam-Rotterdam-Antwerp (ARA) hub was linked to the start of FuelEU Maritime rules, which require ships entering, leaving or operating within EU waters to cut greenhouse gas (GHG) emissions. Under the regulation, biofuels bunkered in Singapore can be mass balanced and counted towards compliance if consumed on voyages starting or ending at an EU port. Market participants also reported stronger demand for marine gasoil (MGO)-based blends, with sales doubling to 31,663t from 15,640t in the first quarter of the year. This was partly due to the launch of a new emission control area (ECA) in the Mediterranean Sea on 1 May, which limits sulphur content in marine fuels to 0.1pc. The expansion of ECAs to cover most EU waters could also support demand for MGO and ultra-low sulphur fuel oil (ULSFO) in ARA. ULSFO–biodiesel blend sales nearly tripled to 24,573t in the second quarter from 8,490t in the first. Bio-LNG volumes hit a quarterly record but remained well below conventional LNG. FuelEU Maritime's 2025 GHG reduction target of 2pc can still be met using fossil LNG, which may limit immediate bio-LNG uptake. But bio-LNG's lower carbon intensity could support overcompliance, which can be traded under the FuelEU pooling mechanism. Sales of conventional bunker fuels in Rotterdam also rose on the quarter and were up 5.5pc on the year. ULSFO sales increased by 33pc on the year and nearly 21pc on the quarter, reaching the highest since the second quarter of 2021. High-sulphur fuel oil (HSFO) sales hit the highest on records going back to October-December 2019, rising by more than 10pc on the year and the month. Combined MGO and marine diesel oil (MDO) sales rose by 11pc on the year and by 3.8pc on the quarter, with MGO also at the highest since the second quarter of 2020. In contrast, very-low sulphur fuel oil (VLSFO) sales fell by 9pc on the year and 14pc from the previous quarter, the lowest level on record. The divergence in fuel demand is likely linked to the expansion of the Mediterranean Sea emission control area, which came into effect on 1 May and limits sulphur content in marine fuels to 0.1pc. MGO availability in Rotterdam was tighter in the second quarter, as some supply previously destined for the northwest European hub was redirected to the Mediterranean following the region's ECA designation. A similar trend was seen for ULSFO, with some Mediterranean suppliers importing the grade from ARA. LNG bunker sales fell by 24pc from the first quarter and by 17pc on the year. Market participants said the decline may reflect cheaper LNG bunker supply in Asia, where LNG is typically priced using a blend of oil-linked and spot contracts. The Singapore LNG dob price has consistently traded at a discount to northwest European levels in recent months. By Hussein Al-Khalisy, Martin Senior, Natália Coelho, and Gabriel Tassi Lara Rotterdam bunker sales t Fuel 2Q25 1Q25 2Q24 q-o-q % y-o-y % ULSFO 225,992 187,031 169,953 20.8 33 VLSFO 679,442 789,218 747,300 -13.9 -9.1 HSFO 914,672 829,197 825,125 10.3 10.9 MGO/MDO 407,877 393,071 369,267 3.8 10.5 Conventional total 2,227,983 2,198,517 2,111,645 1.3 5.5 Biofuel blends 165,220 104,037 234,093 58.8 -29.4 LNG (m³) 200,662 265,043 242,931 -24.3 -17.4 bio-LNG (m³) 4,752 0 2,200 na 116 biomethanol 3,958 5,490 950 -27.9 316.6 Port of Rotterdam Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Wizz Air to end Middle East operations from 1 September
Wizz Air to end Middle East operations from 1 September
Dubai, 14 July (Argus) — Hungarian low-cost airline Wizz Air said today it is halting all operations in the Middle East, effective 1 September. This is part of a "strategic realignment" of operations following "a comprehensive reassessment of market dynamics, operational challenges and geopolitical developments in the Middle East", the airline's subsidiary Wizz Air Abu Dhabi said via the X social media platform. Wizz Air Abu Dhabi faced operational challenges over the past year, including engine reliability constraints particularly in hot and harsh environments, which have affected aircraft availability and operational efficiency. It also noted geopolitical volatility, which has led to repeated airspace closures and operational disruptions, and wrecked consumer demand. Wizz Air also said regulatory barriers have limited its ability to access and scale in key regional markets. The airline said it intends to exit from the joint venture with state-owned Abu Dhabi Developmental Holding Company (ADQ). ADQ holds a 51pc stake in the venture, while Wizz Air holds the remaining 49pc. Wizz Air said it will turn its focus back on its core Central and Eastern Europe, as well as select western European markets such as Austria, Italy and the UK. Wizz Air Abu Dhabi began operations in early 2021 , after receiving its air operator certificate from the UAE's General Civil Aviation Authority in October 2020 . By Ieva Paldaviciute Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Trump threatens Mexico, EU with 30pc tariffs
Trump threatens Mexico, EU with 30pc tariffs
Washington, 12 July (Argus) — President Donald Trump on Saturday said the US will impose 30pc tariffs on goods imported from Mexico and the EU beginning on 1 August. In a move that could significantly disrupt crude, refined product and other commodity flows, Trump made public on his social media platform letters sent to Mexican president Claudia Sheinbaum and European Commission president Ursula von der Leyen on Friday threatening the new tariffs. Trump also vowed to raise the tariffs even higher if Mexico or the EU were to retaliate with their own measures. The threats follow similar letters sent to leaders of other countries this past week, including a 35pc tariff on Canadian imports , likewise starting on 1 August, and a 50pc tariff on Brazilian imports . In his letter to Sheinbaum, Trump repeated previous justifications for higher tariffs by pointing to "Mexico's failure to stop the Cartels" smuggling fentanyl into the US. "Mexico has been helping me secure the border, BUT, what Mexico has done is not enough," Trump wrote. "If for any reason you decide to raise your Tariffs, then whatever the number you choose to raise them by, will be added onto the 30pc that we charge," Trump wrote to Sheinbaum. His letter to von der Leyen included similar language. Trump's previous executive orders regarding tariffs on Mexico and Canada carved out exemptions for goods compliant with the US-Mexico-Canada free trade agreement. A White House official on Friday, following Trump's 10 July Canadian tariff announcement, said the exemption will remain in place, with a caveat that Trump has yet to determine the final form of application. Regarding the EU, Trump argued the 30pc figure "is far less than what is needed to eliminate the Trade Deficit disparity we have with the EU". Mexico's ministries of the economy, foreign affairs, finance, security and energy said in a statement Saturday that they met with their US counterparts on Friday to begin negotiations to head off the new tariffs before 1 August. "We stated at the meeting that [the new tariff plan] was unfair treatment and that we disagreed." After receipt of the new tariff letter, von der Leyen said Trump's tariffs "would disrupt essential transatlantic supply chains, to the detriment of businesses, consumers and patients on both sides of the Atlantic". The US has clinched only one limited trade deal, which keeps in place a 10pc tariff on US imports from the UK while granting a lower-tariff import quota for UK-made cars. Trump has announced a deal with Vietnam, setting tariffs at 20pc. By David Ivanovich Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
US to loan 1mn bls crude to Louisiana refinery: Update
US to loan 1mn bls crude to Louisiana refinery: Update
Adds details on crude quality issues from Mars pipeline. Washington, 11 July (Argus) — ExxonMobil will borrow up to 1mn bl of crude from the US Strategic Petroleum Reserve (SPR) for its 522,500 b/d refinery in Baton Rouge, Louisiana, in response to a disruption to offshore supply of crude for the facility. ExxonMobil warned suppliers last week of "serious quality issues" related to elevated levels of zinc in crude supplied by the Mars pipeline, which brings crude from a series of deepwater fields in the Gulf of Mexico to shore, according to market sources. In letters to suppliers ExxonMobil said the crude quality issues were "... significantly affecting the operations at our Baton Rouge Refinery," and that it would stop accepting Mars crude "... in an effort to avoid further damages." The US Department of Energy said today it had approved the loan to ExxonMobil, called an exchange, to ensure a stable supply of transportation fuels in Louisiana and the US Gulf coast. The agency said the crude loan will support ExxonMobil's "restoration of refinery operations that were reduced due to an offshore supply disruption." Chevron, one of the producers that contributes crude to the Mars pipeline, said it has "identified a potential contributing source to the Mars crude composition changes, which is associated with the start-up of a new well." Chevron said it was working to resolve the matter and does not expect it to affect current production guidance. In April Chevron started production from a new deepwater field , Ballymore, which ties into the Mars system. Shell, which owns a majority stake in the Mars pipeline, did not respond to a request for comment. Mars premium to WTI falls The August Mars premium to Nymex-quality WTI has dropped nearly $1/bl in the last week. The August Argus Mars volume-weighted average assessment on Thursday was a 9¢/bl premium to the Nymex-quality WTI Cushing benchmark, nearly $1/bl lower than a week earlier. Mars averaged a 63¢/bl premium for the August trade month through Thursday, but was at a $1.40-$1.50/bl premium at the start of the trade month. The August trade month started 26 June and ends 25 July. The SPR, which consists of four underground storage sites in Texas and Louisiana, held 403mn bl of crude as of 4 July. Under the exchange announced today ExxonMobil will eventually return the borrowed crude — along with additional crude as payment for the loan — to the SPR. The SPR's Bayou Choctaw site connects to refineries in Baton Rouge through the Capline pipeline. In 2021, the Department of Energy authorized a loan of up to 3mn bl from the SPR to ExxonMobil's refinery in Baton Rouge to address disruptions related to Hurricane Ida. ExxonMobil was initially scheduled to return the crude in 2022, but that deadline has been repeatedly pushed back, most recently to require a return of the crude by March 2026. By Chris Knight, Eunice Bridges and Amanda Smith Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
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