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
15 December Singapore issues EOI for methanol bunker fuel supply The Maritime and Port Authority of Singapore (MPA) has invited methanol sellers to submit proposals for its use as a bunker fuel in the port of Singapore.
14 December Crowley agrees to carbon capture initiative US shipowner Crowley and California-based carbon capture firm Carbon Ridge have signed an agreement for a carbon capture pilot program beginning next year.
14 December Scale Gas orders LNG bunkering vessel from CIMC SOE Scale Gas, a subsidiary of Spanish grid operator Enagas, has ordered a 12,500m³ LNG bunkering vessel from Chinese shipbuilder CIMC.
14 December FLNG fleet to almost double in five years: Golar The number of floating liquefaction units (FLNGs) is expected to grow from eight to 15 in the next five years, FLNG developer Golar LNG's chief executive Karl Staubo said.
14 December Fujairah receives first biofuel bunker cargoes The UAE's port of Fujairah has received its first biofuel bunker cargoes.
14 December Suez Canal extends LNG tanker rebates The Suez Canal Authority (SCA) has extended its fixed rebate scheme for LNG tanker operations between American east coast ports and Asian ports until 30 June 2024, but safety concerns could lead some to reassess transit through the waterway.
14 December PetroChina receives latest LNG carrier Chinese state-controlled PetroChina's latest LNG carrier, the 174,000m³ Emei, was delivered on 12 December and 9½ months ahead of schedule.
14 December Japanese firms advance ammonia bunkering study A Japanese cross-industry group is moving to an advanced phase of an ammonia bunkering study for a tugboat planning to launch in June 2024.
13 December Spain's Sagunto offers more LNG bunker services Spain's 6.4mn t/yr Sagunto facility has completed works to offer LNG bunkering services to vessels with a capacity of less than 6,500m³, transmission system operator Enagas said.
13 December E-fuels best option towards shipping's net zero: study Using synthetic fuels to power shipping vessels is the most cost-effective way for the maritime industry to reach decarbonisation goals by 2050, according to a study by German firm MAN Energy Solutions.
12 December B24 bunker fuel debuts in UAE's Fujairah The first delivery of biofuel bunker blend has taken place in Fujairah, the Middle East's main bunkering centre in the UAE.
11 December Finnish ice measures unlikely to hinder LNG arrivals Ice restrictions put in place at Inkoo and Hamina on 9 December should not pose any threat to the delivery of LNG to the terminals in these two harbours, the Finnish Transport Infrastructure Agency (FTIA) told Argus today.
8 December US bill aims to boost biofuel use in ships Legislation proposed in the US House of Representatives on Thursday would allow ocean-going ships to consume renewable fuels without forcing the retirement of associated RIN credits.
8 December South Korea to set SAF, bio-bunker standards from 2024 South Korea will establish quality standards for sustainable aviation fuel (SAF) and bio-bunkers from 2024, according to the country's trade, industry and energy ministry (Motie).
7 December PIL, DP World to pursue maritime biofuels, e-LNG Singapore shipping firm Pacific International Lines (PIL) and UAE-based port logistics firm DP World have agreed to jointly develop methods of decarbonising their global supply chains.
7 December Seaspan orders six LNG-fuelled carriers Canadian shipping company Seaspan, in partnership with South Korean firm Hyundai Glovis, has ordered six LNG-fuelled vehicle carriers from China's Shanghai Waigaoqiao Shipbuilder shipyard, a subsidiary of state-owned China State Shipbuilding.
7 December Maersk to launch dual-methanol ships in February Danish shipping and logistics company Maersk will launch the first of its 24 dual-fuel engine vessels on order on 9 February. The vessels can be powered by methanol as well as biodiesel or conventional bunker fuel.
7 December Japan's NYK Line to charter LNG carriers for Sinopec Japanese shipping firm Nippon Yusen Kaisha (NYK Line) plans to charter LNG carriers for China's state-owned Sinopec for a maximum of 23 years, after 2024.
6 December Cop: Shipping and H2 alliance calls for policy support A broad coalition of companies has backed renewable-hydrogen based fuels such as ammonia and methanol to decarbonise shipping and called on the public sector for more supportive policy intervention.
6 December Nestle switches to ships fuelled by waste Food and beverage company Nestle will move half of its shipping needs to "alternative, lower-emission fuels".
5 December US LSFO premium to crude nears 3-month high US Gulf coast low-sulphur fuel oil prices have notched the widest premium to Brent crude in nearly three months as increased export demand pulls barrels from an already tight market.
4 December California R99 hop buoyed by canal issues, poor margins The California renewable diesel head of pipeline (hop) market gained strength for most of November, buoyed by a drought that has restricted Panama Canal transits and lower renewable diesel (RD) margins that have raised costs for US Gulf coast producers.
4 December Cop: Shipping industry updates decarbonisation pledges Shipping industry participants have announced new or updated initiatives within the Green Shipping Challenge — aimed at lowering carbon emissions in shipping — at the Cop 28 UN climate summit.
4 December Maersk to invest $500mn in Southeast Asia supply chain Danish shipping giant Maersk said today it will invest over $500mn in its supply chain infrastructure in southeast Asia, including in 'green' fuels.
4 December Egypt signs deal for 100,000 t/yr e-methanol plant Norwegian renewable developer Scatec has signed a preliminary agreement with the Suez Canal Economic Zone (SCZone) to supply ships with e-methanol in East Port Said.
Conventional marine fuels
15 December Panama Canal to raise transits in Jan after rains The Panama Canal will raise its daily transits from 22 to 24 starting on 16 January, after steady rainfall in November allowed the canal to cancel its prior plan to cut transits to 20 in January and 18 in February.
15 December Red Sea shipping attacks to boost war risk rates Attacks on commercial shipping in the Gulf of Aden, Red Sea and Bab el-Mandeb strait are likely to lead to a surge in war risk insurance premiums.
15 December Maersk, Hapag-Lloyd pause shipments through the Red Sea Danish shipping giant Moller-Maersk and Germany-based containership operator Hapag-Lloyd said today they will suspend all vessel passages through the Red Sea, the former until further notice and the latter until Monday, 18 December, following a series of attacks on shipping in the area.
14 December Hellenic strike could strain Mediterranean bunkering Bunker supplies at the Greek port of Piraeus could be affected by refinery strikes planned during December and January.
14 December Iran warns US against building up Red Sea presence Iran's defence minister has described US plans to boost its presence in the Red Sea to counter attacks on vessels by Yemen's Houthi militants as "foolish", insisting that security in the Mideast Gulf is the responsibility of regional countries.
14 December Singapore's fuel oil stocks rise to three-month high Singapore's onshore oil product inventories hit a three-week high of 41.71mn bl in the week to 13 December, driven by a rise in fuel oil stocks to a three-month high.
14 December Mideast Gulf HSFO imports from Russia fall in November Fuel oil imports from Russia into the Middle East fell in November, when 310,000t (66,650 b/d) of high-sulphur fuel oil (HSFO) arrived in the UAE's port of Fujairah, a major storage and bunkering centre.
13 December Spot charter rates hold range through November Prompt spot LNG charter rates ended November broadly in line with the start of the month, as gains posted early in that month were shed during its closing weeks.
13 December Refined product tanker attacked in Red Sea A tanker carrying jet fuel from India was attacked while transiting the Red Sea today, two days after a chemical tanker was struck by a missile in the same region.
13 December Weaker demand cuts Japan's October bonded bunker sales Japan's bonded marine fuel sales remained slow in October, falling by more than 10pc compared with a year earlier for a fifth consecutive month.
12 December US diesel cargoes to help relieve German winter supply Diesel cargoes are on route from the US Gulf coast to add supply to the northwest European market, attracted by a recent rise in prompt premiums. They will arrive at a time of recovering domestic German supply, forecasts for a mild winter and falling natural gas prices.
12 December Tanker attacked near Bab al-Mandeb A tanker has been attacked near the Bab al-Mandeb strait, 15km west of Yemen's port of Mokha, the UK Maritime Trade Operations (UKMTO) said on 11 December.
8 December Yemen creates new risks for Mideast energy flows Brazen attacks by Yemen's Houthi militants on tankers and commercial vessels transiting the Red Sea resurrect a painfully familiar dilemma for the US and Mideast Gulf energy producers. The ceasefire in Yemen's civil war has held since April 2022, but the Houthi movement is still not averse to targeting energy and trade flows in its neighbourhood to score political points.
8 December Brazil diesel imports rise in November Brazilian diesel imports increased in November as demand for foreign fuel increased amid a favorable arbitrage and solid consumption in the domestic market.
8 December Singapore middle distillates stocks slip Singapore's middle distillates stocks fell to a six-week low in the week to 6 December as gasoil and jet fuel imports dropped again.
4 December Main shipper halts transport on key Colombia river Trafigura-owned Impala halted shipments of crude and other commodities on Colombia's Magdalena River after a series of armed attacks on cargo ships.
4 December Nigeria offers shipowners waivers on tax penalties Nigeria's Federal Inland Revenue Service (FIRS) has said shipowners that pay back taxes in full by 31 December will receive waivers from penalties and interests for previous noncompliance.
