Marine fuels
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Q&A: Exolum on launching UK biomethanol bunkering
Q&A: Exolum on launching UK biomethanol bunkering
London, 13 March (Argus) — Biomethanol is gaining traction as a marine fuel as shipowners work to cut lifecycle greenhouse gas (GHG) emissions. European demand has risen since FuelEU Maritime took effect last year, requiring vessels calling at EU ports to reduce the GHG intensity of their energy use — a target that rises from 2pc today to 6pc in 2030 and 80pc by 2050. Rotterdam's biomethanol bunkering volumes reflected this shift, rising by 200pc on the year to 11,800t in 2025. A growing number of operators are turning to methanol-capable fleets, including new dual-fuel ships ordered by companies such as Maersk. Activity is also picking up in the UK, even without a similar maritime mandate. Exolum and Orsted have launched a biomethanol storage and supply service at the port of Immingham, supported by a dedicated 2,700m³ tank and capacity to refuel vessels of about 400m³ every two weeks. Orsted will use the facility to supply its North Sea offshore wind farm support vessels with biomethanol produced by Methanex. Biomethanol is also used in the UK as a gasoline blending component, although consumption has declined since the US–UK ethanol trade agreement signed last year. Argus spoke with Gorka Penalva, Exolum's northwest Europe commercial lead, about the company's plans and market perspective. What specific market signals convinced Exolum that now was the right time to invest in dedicated biomethanol storage and bunkering capacity at Immingham? Biomethanol is one of the first alternative marine fuels where demand, supply and infrastructure readiness are aligning at the same time. It has a high technological readiness level, and existing oil terminal infrastructure can be repurposed with relatively limited modification. At the same time, we are seeing resilient, long-term demand for low-carbon fuels from the global shipping sector, which remains structurally difficult to electrify. For Exolum, the ability to adapt existing assets at Immingham, combined with a strong strategic fit with our energy-transition roadmap and northwest European growth plan, made the investment case compelling. Our partnership with Methanex and Orsted further reinforced that decision by providing supply certainty and a committed launch customer from day one. Biomethanol sales in Rotterdam have increased under FuelEU Maritime. Has the absence of an equivalent UK mandate made commercial planning more difficult? FuelEU Maritime is creating a clear demand signal in the EU by mandating the gradual uptake of lower-carbon marine fuels. The UK does not yet have an equivalent binding framework for international shipping, although it is moving in the same direction through economy-wide greenhouse-gas reduction targets. Long-term policy clarity always helps derisk investment, particularly for infrastructure designed to scale. At Immingham, however, the ability to repurpose existing infrastructure materially lowers the risk threshold. That flexibility allows us to move ahead even in the absence of a UK-specific mandate, while remaining well positioned should policy evolve further. With 60 methanol-capable vessels in operation or on order, how does Exolum see biomethanol demand evolving in UK ports over the next five years? We expect demand for methanol and biomethanol to grow steadily as more dual-fuel vessels enter global service. These fuels are among the first alternatives likely to scale, supported by liner commitments and relatively low conversion costs for existing terminals. Over the next five years, growth in UK ports is likely to be steady rather than exponential, tracking vessel deliveries and early trade routes rather than speculative supply. Given the resilience of green fuel demand through to 2040 and beyond, we see biomethanol becoming an increasingly important part of the UK bunkering mix. Exolum's national footprint — around 20pc of the UK's bulk fuel storage capacity across 10 ports — positions us well to support that evolution. Are you receiving early interest from non-Ørsted shipowners for biomethanol bunkering at Immingham? Yes. The infrastructure has been designed as a commercial offering rather than a single-customer pilot, with capacity available for additional users from day one. We are in discussions with multiple parties exploring biomethanol as part of their decarbonisation strategies. That interest reflects the broader momentum toward alternative marine fuels across the sector. Is Exolum considering establishing similar biomethanol infrastructure at other UK ports? Yes, where customer demand materialises. We operate terminals at 10 major UK ports, which gives us a strong platform to scale green fuel logistics as markets develop. Our ambition is to build a green bunkering network aligned with how fleets, trade routes and green shipping corridors evolve. Immingham demonstrates the model; replication will depend on demand, emerging routes and the clarity of long-term policy frameworks. Rotterdam biomethanol sales have increased to 11,800t in 2025. Do you see Immingham becoming a meaningful competitor, or will the centre of gravity remain in the ARA region? The growth in biomethanol volumes at Rotterdam underlines the structural strength of the ARA region. Scale, liquidity and proximity to multiple end-users continue to make it the natural hub for trading and redistribution. Immingham has clear potential, particularly linked to UK industrial demand and early marine applications, and it can develop into a meaningful regional hub. However, we do not see it as a direct competitor to ARA. In the near to medium term, the centre of gravity for biomethanol will remain in ARA, with ports like Immingham playing a complementary role as volumes grow and use cases expand. By Evelina Lungu Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
UAE's Fujairah terminals resume loading after attacks
UAE's Fujairah terminals resume loading after attacks
Dubai, 12 March (Argus) — Most storage terminals and berths at the Middle East's key products storage and bunkering centre Fujairah, the UAE, are operating, following earlier suspensions of operations, according to trade and shipping sources. At the 1.18mn m³ Fujairah Oil Tanker Terminal (FOTT), all the berths of Oil Terminal 1 (OT1) and a VLCC jetty are operating and few berths at OT2 are able to accept vessels, shipping agent reports showed. FOTT, where most crude loadings take place, had sustained damage from "falling debris following a successful interception by the air defenses" on 9 March, according the emirate of Fujairah's press office. Abu Dhabi state-owned Adnoc earlier today informed equity partners that it will now allow its international partners with a share of Murban production to load some March-loading volumes of the grade from Fujairah port. One bunker supplier said they were waiting for the port's permission to send a barge to Vopak Horizon's storage terminal, another key terminal in Fujairah, even though it was still not operating as of this morning. All other fuel terminals are operating, except Mena Fujairah Terminal, where drone debris damaged naphtha tanks last week. Many tank terminal operators had stopped loadings as Iran continued to target the regions energy infrastructure in retaliation for the US-Israeli air strikes, but limited bunker supply operations continued, mostly from the products stored in barges, bunker suppliers said. Fujairah is a key supplier of bunker fuel for ships transiting the strait of Hormuz and is the world's third-largest crude and products storage hub. By Elshan Aliyev Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Soaring Asia bunker prices spur Panama demand
Soaring Asia bunker prices spur Panama demand
Sao Paulo, 11 March (Argus) — Demand for marine fuels in Panama has increased since the start of the US-Iran war, as shipowners traveling to or from Singapore find more competitive prices there. Singapore's very-low sulphur fuel oil (VLSFO) margin to Panama, which was historically traded as discount a discount to the Latin American hub, have flipped to a premium since the start of the war that reached $313.25/t on 9 March, its highest level in Argus historical data. On 10 March, Singapore's marine gasoil (MGO) premium to Panama was at $474.50/t. Its VLSFO premium was $214.25/t, and the high-sulphur fuel oil (HSFO) premium was $145/t. Disrupted flows from the Mideast Gulf, along with regional supply constraints from countries such as China and South Korea, are expected to tighten supplies in Singapore, which prompted regional suppliers to raise offers for all conventional bunker grades to record levels. Panama is a transshipment point for a large portion of general cargo leaving Asia for the Americas, so shipowners have been buying the minimum possible volume of bunker fuel in Asian ports to secure the largest possible volumes in the Americas at lower prices. As a result, availability for HSFO, VLSFO and MGO is reportedly tight and suppliers are requiring lead times of at least five days. Transits through the strait of Hormuz, through which about 20pc of global oil flows, have not exceeded five ships in a day since the US and Israel attacked Iran on 28 February . Usually, about 138 ships transit the strait in a day. Amid soaring bunker prices, demand for HSFO in Panama has grown at a faster pace than for VLSFO and MGO. With rising prices, scrubber-equipped vessels are prioritizing the cheaper fuel. By Gabriel Tassi Lara Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Tanks damaged in Omani port attack: Sources
Tanks damaged in Omani port attack: Sources
London, 11 March (Argus) — Storage tanks at the port of Salalah in Oman were heavily damaged after being bombed today, according to shipping companies operating out of the port. Sources said infrastructure at Salalah was on fire and that some port staff had been evacuated. Salalah, at the southeastern tip of Oman, is a major container transshipment hub. It expanded its terminal capacity last year from 4.5mn twenty-foot equivalent units (TEU) to 6.5mn TEU after upgrades at all six berths and a yard expansion. Salalah is among the latest targets of Iranian missile and drone attacks on energy and logistics infrastructure across the Mideast Gulf. Iran launched the strikes in retaliation for the US-Israeli bombing campaign that began 11 days ago. A fuel storage tank at Oman's Duqm port was hit by a drone last week. Iran has also targeted vessels in the Mideast Gulf, forcing traffic through the strait of Hormuz — a vital waterway for regional oil and gas exports — to a near standstill. Three vessels came under attack in Mideast Gulf waters earlier today, the UK Maritime Trade Operations (UKMTO) said. UKMTO said it has received 17 incident reports involving vessels in the Mideast Gulf, the strait of Hormuz and the Gulf of Oman since the US-Iran war started. By Bob Wigin Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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