Marine fuel global weekly market update
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
2 June Q&A: Brazilian ethanol output may boost low-cost H2 Brazil's mines and energy ministry MME has reaffirmed its commitment to establish a legal framework for hydrogen production, which so far has just totatled about…
1 June Shell urges more action to decarbonize shipping sector Shipping volumes and CO2 emissions both ended 2021 up by 6pc from when Shell published its initial shipping decarbonization report in...
1 June Danish supplier takes on methanol-ready bunker tanker Danish marine fuel supplier Bunker One said it is ready to supply methanol as an alternative bunker fuel to ships calling at the Scandinavian ports ...
1 June Braya's biofuel refinery gets C$86mn boost from feds The 130,000 b/d refinery in Come-by-Chance, Newfoundland and Labrador is getting up to a ...
1 June EU biofuel sector calls for measures on Chinese exports European waste-based and advanced biofuels association Ewaba is calling on the EU to introduce "bold measures" on products certification, as stronger ...
1 June Eni to supply Azimut Benetti Group with HVO Eni Sustainable Mobility said its HVO fuel can reduce emissions by up to 90pc compared with conventional fossil-based bunker fuels.
1 June Indonesia cuts 1H June palm export taxes, levies Indonesia has decreased export duties and levies on palm oil products for the first half of June, after the crude palm oil (CPO) reference price ...
1 June Shipowner TCT to buy methanol vessels Dutch shipowner Tune Chemical Tankers (TCT) has placed an order with Turkish shipbuilder Tersan Shipyard to buy up to four methanol-powered vessels.
31 May Total, Belgium's TES plan $2bn e-methane plant in US TotalEnergies and Belgian start-up Tree Energy Solutions (TES) are considering a US production plant to make synthetic methane by combining ...
31 May Container ship LNG bunkering to rise: MSI LNG as a bunker fuel will likely sell at about 40pc discount to very low-sulphur fuel oil (VLSFO) in 2024, according to ...
31 May Trade body presents guide to methanol as bunker fuel Methanol retains a higher energy density compared with other alternative marine fuels such as LNG and ammonia, making it a more…
31 May Grieg Maritime buys ammonia-ready vessels The ships will be able to run on conventional bunker fuels, but will have the flexibility to run on the alternative marine fuel, when it becomes ...
31 May Transatlantic Capesize rates drop 19pc today "Ultimately in the shipping market, everyone is a price taker, and therefore you just have to fix at the best rate in front of you," Grimes said.
30 May Western Canada could export low-c ammonia to Japan Canadian midstream operator Pembina agreed with Japanese trading firm Marubeni to export low-carbon ammonia from a ...
30 May Ocean Yield to acquire ammonia-ready bulk carriers Norway-based vessel owner Ocean Yield will acquire eight or nine ammonia-ready ...
30 May Neste uses co-processed fuel in HVO tanker shipments Finnish biofuel producer Neste has started fuelling tankers Suula and Kiisla with co-processed marine fuel to ...
30 May Brazil's Acelen eyes HVO, SAF export market Abu Dhabi state-owned Acelen, which owns Brazil's largest privately-owned oil refinery, plans to build a biorefinery in Bahia state that will produce hydrotreated vegetable oil (HVO) and ...
29 May China Merchants orders more LNG carriers Chinese shipowner China Merchant Energy Shipping (CMES) has ordered two LNG carriers from state-owned shipbuilder China State Shipbuilding's (CSSC) Dalian shipyard.
Conventional marine fuels
2 June Tight market supports HSFO margins in Europe Options for replacing fuel oil imports from Russia are limited at present, tightening supply, writes Hussein al-Khalisy London, 2 June (Argus) — High-sulphur fuel oil (HSFO) margins in northwest Europe are strengthening on ...
2 June Oversupply pressures Mideast Gulf gasoil Middle distillates are piling up in the Mideast Gulf as a stream of diverted Russian exports meets output from new refineries, depressing spot market values.
1 June USGC fuel oil stocks surge in May While the EIA does not cite grade, market participants had cited increased availabilities of both low-sulphur and high-sulphur fuel oil, as ...
1 June Pakistan's PRL offers rare fuel oil on lean demand Pakistan's state-owned marketer PSO, a major fuel oil importer, has also not bought any cargoes since October last year as ...
31 May Uniper exits UAE marine fuel trading business Uniper's 67,000 b/d Fujairah refinery was sold to a consortium comprising global trading firm Montfort, a major supplier of bunker-grade…
31 May Minerva supplies bunker fuels in Egypt Marine fuel supplier Minerva Bunkering has started bunker deliveries in Egypt, with 10 vessels already refuelled.
31 May Chinese oil stocks swell as exports slow Net fuel oil imports trebled from March to 300,000 b/d last month, as ...
31 May Stocks draw as diesel demand rises Chinese diesel stocks are finally starting to drop as ...
31 May Political uncertainty hits Ecuador transmission tender These fields largely use diesel and fuel oil to generate electricity.
31 May Japan temporarily shuts 1mn b/d refining capacity Lower runs also weighed on Eneos and Cosmo's profits ...
30 May Japan's bioethanol imports remain low Japan has reduced its bioethanol purchases this year, with ...
30 May Russian 1Q bunker sales up 21pc Bunker sales at the Russian Arctic Sea ports were up 13pc at ...
30 May Low Australian LR2 prices subdue SE Asian Aframax rates The lower bunker prices would save shipowners about $9,500 on their ballasting costs.
30 May Tsakos' 1Q profit grows on doubled rates Greece-based shipowner Tsakos Energy Navigation's earnings for its fleet more than ...
29 May Singapore's fuel oil tightness to ease slightly in June Singapore's average fuel oil inventories in May have fallen to multi-year lows on ...
Related news posts
Etanol hidratado impulsiona início da safra 2024-25
Etanol hidratado impulsiona início da safra 2024-25
Sao Paulo, 26 April (Argus) — A produção de etanol no Centro-Sul aumentou 7,2pc na primeira quinzena de abril em relação ao ano passado, com produtores ainda favorecendo o hidratado em meio à demanda crescente. As usinas da região entregaram 841.000m³ ao mercado na primeira quinzena da safra de 2024-25, em comparação com 784.000m³ no mesmo período do ano anterior, segundo os dados mais recentes da União da Indústria de Cana-de-Açúcar e Bioenergia (Unica). A produção de etanol hidratado subiu 39pc e impulsionou a alta anual, totalizando 693.000m³. Já o processamento de anidro, utilizado como mistura na gasolina, caiu 48pc, para 174.000m³. As usinas permanecem destinando mais matéria-prima para o E100, em um cenário de paridade favorável para o biocombustível frente à gasolina na bomba. O hidratado está mais vantajoso para os motoristas em 80pc do mercado de combustíveis leves, disse a Unica. As plantas do Centro-Sul venderam 1,3 milhão de m³ de etanol para o mercado doméstico em abril, salto de 41pc na variação anual. As vendas de hidratado representaram 902.355m³ deste total, alta de 61pc, enquanto as de anidro subiram 14pc, para 448.431m³. Já as exportações totalizaram 52.104m³, queda de 6,2pc. O mix de produção na quinzena foi de 56,4pc para o etanol e 43,6pc para o açúcar, em comparação com 62pc para o biocombustível no mesmo intervalo em 2023. No período, a moagem de cana-de-açúcar avançou 14pc, para 15,8 milhões de t, à medida que a temporada inicia suas operações. Até 16 de abril, 171 usinas estavam operando no ciclo de 2024-25, número maior do que as 166 no mesmo intervalo do ano anterior. A Unica espera que mais 54 unidades recomecem as atividades durante a segunda metade do mês. O etanol à base de milho representou 32pc do volume total produzido na primeira parte de abril, somando 270.500m³, crescimento de 12pc na comparação anual. Por Laura Guedes Envie comentários e solicite mais informações em feedback@argusmedia.com Copyright © 2024. Argus Media group . Todos os direitos reservados.
Lyondell Houston refinery to run at 95pc in 2Q
Lyondell Houston refinery to run at 95pc in 2Q
Houston, 26 April (Argus) — LyondellBasell plans to run its 264,000 b/d Houston, Texas, refinery at average utilization rates of 95pc in the second quarter and may convert its hydrotreaters to petrochemical production when the plant shuts down in early 2025. The company's sole crude refinery ran at an average 79pc utilization rate in the first quarter due to planned maintenance on a coking unit , the company said in earnings released today . "We are evaluating options for the potential reuse of the hydrotreaters at our Houston refinery to purify recycled and renewable cracker feedstocks," chief executive Peter Vanacker said on a conference call today discussing earnings. Lyondell said last year a conversion would feed the company's two 930,000 metric tonnes (t)/yr steam crackers at its Channelview petrochemicals complex. The company today said it plans to make a final investment decision on the conversion in 2025. Hydrotreater conversions — such as one Chevron completed last year at its 269,000 b/d El Segundo, California, refinery — allow the unit to produce renewable diesel, which creates renewable naphtha as a byproduct. Renewable naphtha can be used as a gasoline blending component, steam cracker feed or feed for hydrogen producing units, according to engineering firm Topsoe. Lyondell last year said the Houston refinery will continue to run until early 2025, delaying a previously announced plan to stop crude processing by the end of 2023. By Nathan Risser Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Azerbaijan wants certainty from EU on gas needs
Azerbaijan wants certainty from EU on gas needs
London, 26 April (Argus) — Azerbaijan needs long-term guarantees and available financial instruments to invest in gas production growth, its president Ilham Aliyev said earlier this week. Azerbaijan and the EU signed a strategic partnership agreement in 2022, in which Azerbaijan committed to increasing its supply to the EU to 20bn m³/yr by 2027 from 8bn m³ in 2021. This is a "target that we are moving towards" and exports to Europe will be around 12bn m³ this year, Aliyev said on 23 April at the Cop 29 and Green Vision for Azerbaijan forum ( see Azeri gas production graph ). But Azerbaijan needs investments to reach this export target, and restrictions from financing institutions on fossil fuel projects make them harder to realise, Alyiev said. The European Investment Bank has removed fossil fuel projects from its portfolio and the European Bank for Reconstruction and Development has only a small share of such projects, Aliyev said. Corporations tend to finance 30pc of gas production or infrastructure projects on their own and the remainder through loans, he said. The other issue is a need to receive long-term guarantees for Azeri gas supply, as "Azerbaijan cannot invest billions only for 5-10 years and not be able to recover the costs", Aliyev said. Azerbaijan is still paying back loans for the Southern Gas Corridor and Shah Deniz Stage 2 projects, he said. A long-proposed Ionian-Adriatic pipeline that could provide the Balkan region with Azeri gas is yet to materialise because it lacks EU funding support and gas consumption in the countries involved is low, particularly considering the challenges involved with building a pipeline in a mountainous region, Aliyev said. But Azeri gas can already reach Croatia, Bosnia Herzegovina and Montenegro through Hungary, while it can flow to Serbia through Bulgaria, he said. Aliyev said he believes that the Croatian and Azeri governments are already in consultation about this. Referring to a long-mooted project to build a pipeline across the Caspian Sea to deliver Turkmen gas to Europe, Aliyev said that Azerbaijan has "received no messages from Turkmenistan". Azerbaijan as a transit country cannot become the initiator or co-ordinator of a trans-Caspian pipeline project, Aliyev said. The Southern Gas Corridor is fully booked, meaning that infrastructure developments are needed to transport more gas to Europe, which is "under discussion", Aliyev said. Azerbaijan plans renewables build-out Azerbaijan is targeting 5GW of additional renewable generation capacity, which it aims to substitute for gas, releasing this supply for export to Europe, Aliyev said. Azerbaijan's first 240MW solar plant was inaugurated in 2023. It plans to add four new 1.3GW solar and wind projects this year and is considering some offshore and onshore wind projects as well as solar and hydropower plants. Azeri gas consumption for power generation and heating needs increased to 6.6bn m³ in 2022 from 6.1bn m³ in 2020, and made up almost half of domestic consumption in 2022 ( see data and download ). Azerbaijan is in the last phase of a feasibility study for a green energy cable from the Caspian Sea to the Black Sea and then further down to Europe. The project aims to initially connect the Georgian Black Sea to the Romanian coast, and plans to expand it further down to the eastern Caspian and Kazakhstan, according to Aliyev. The state plans to keep investing to strengthen the energy grid to allow it to cope with the renewables build-out. Foreign investors are mainly involved with renewables projects. Oil and gas makes up less than half of Azerbaijan's GDP today, but 95pc of its exports, Aliyev said. By Victoria Dovgal Azeri gas production bn m³ Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
US M&A deals dip after record 1Q: Enverus
US M&A deals dip after record 1Q: Enverus
New York, 26 April (Argus) — US oil and gas sector mergers and acquisitions (M&A) are likely to slow for the rest of the year following a record $51bn in deals in the first quarter, consultancy Enverus says. Following an unprecedented $192bn of upstream deals last year, the Permian shale basin continued to dominate first-quarter M&A as firms competed for the remaining high-quality inventory on offer. Acquisitions were led by Diamondback Energy's $26bn takeover of Endeavor Energy Resources. Other private operators, such as Mewbourne Oil and Fasken Oil & Ranch, would be highly sought after if they decided to put themselves up for sale, Enverus says. Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
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