Argus B24 marine biodiesel
Price benchmark for Singapore marine biodiesel
B24 is a blend of 24pc used cooking oil methyl ester (UCOME) and 76pc very low-sulphur fuel oil (VLSFO) that is increasingly being used in the maritime sector. The Argus B24 price assessment provides an independent benchmark for the value of the biodiesel delivered-on-board in the world’s busiest port, Singapore.
Advantages of B24 marine biodiesel price assessment
The Argus B24 biofuel bunker price for Singapore is the first independent price assessment based on deals, bids and offers obtained from market participants. Input comes from both buyers and sellers, including shipowners, ship charterers, bunker suppliers, traders and brokers. This price is therefore trusted and used by participants across the value chain.
Understanding the value of marine biodiesel is critical as the industry weighs up decarbonisation options. Marine biodiesel is seen as a ‘plug-and-play’ solution, providing an immediate carbon reduction while the industry awaits lower or zero-carbon alternatives. Singapore’s B24 sales volumes reached over 140,000t in 2022 and demand is expected to continue to rise.
How is the Argus B24 marine diesel price assessment used?
- Contracts: shipping companies can use this price in term contracts, spot purchases and in contract negotiations with bunker suppliers. It can also be used internally by organisations for transfer pricing
- Risk management: companies buying UCOME and VLSFO for blending can use this independent index for mark-to-market valuations
- Optimisation: refiners, traders and bunker suppliers selling marine biodiesel can identify shortages and oversupply to manage production and maximise profits
- Analysis: Marine biodiesel prices can be used to monitor the evolving premium to conventional bunkers and as an input for price forecasts
How to access Argus marine biodiesel price assessments
Argus B24 dob Singapore is published daily in Argus Marine Fuels and Argus Biofuels. These services deliver trusted price assessments alongside insightful market commentary, news and analysis.
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