14/07/25
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
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