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Singapore launches commercial methanol bunkering

  • Spanish Market: Hydrogen, Oil products, Petrochemicals
  • 28/05/24

Singapore has launched commercial-scale methanol bunkering at the Tuas port, after a successful run of its first simultaneous methanol bunkering and cargo operation (Simops) on 27 May.

Bunkering operations for shore-to-ship, ship-to-ship, and simultaneous cargo operations while bunkering methanol or alternative fuels like ammonia and hydrogen, will now be available at the Port of Singapore, the Maritime and Port Authority of Singapore (MPA) announced.

This development comes after MPA's inaugural Simops of Singapore-based shipping firm X-Press Feeders' first dual-fuel engine container vessel. The Rotterdam-bound vessel was refuelled in Singapore with close to 300t of bio-methanol by MPA-licensed bunker supplier Global Energy Trading. The methanol bunkering occurred concurrently while vessel containers were restowed and loaded, and was supported by digitalisation of the bunkering process for near real-time visibility for various stakeholders.

All crew members were trained to handle methanol as a marine fuel and respond to emergencies, given that safety remains a key consideration when bunkering alternative fuels.

X-Press Feeders' vessel was the first of 14 dual-fuel vessels that it has ordered. The China-built vessel is equipped with a German-designed dual-fuel engine and has the flexibility to operate on green methanol. The firm plans to operate its green methanol-powered feeders mostly in the ports of Rotterdam and Antwerp-Bruges, where it has a fuel supply contract with chemical manufacturing firm OCI Global.

"We look forward to working with other like-minded partners, including on the use of digital bunkering and mass flow meter solutions, to operationalise the delivery of the new marine fuels in Singapore," MPA chief executive Teo Eng Dih said.

Singapore is steadily advancing towards its multi-fuel transition for maritime decarbonisation. Another ship-to-ship delivery of 1,340t of blended 20pc bio-methanol combined with 80pc of conventional methanol was completed on 24 May. The alternative fuel blend is reported to provide 31pc in CO2 equivalent savings on a tank-to-wake basis as compared to operating on conventional very-low sulphur fuel oil (VLSFO) for the same distance.

The Argus-assessed price for VLSFO stood at $582.68/t delivered on board (dob) Singapore on 27 May, while prices for B24 were assessed at $720.50/t dob Singapore.


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12/06/25

US Senate looking at ways to save 45V: Cornyn

US Senate looking at ways to save 45V: Cornyn

Houston, 12 June (Argus) — The US Senate is considering ways to reinstate the 45V hydrogen production tax credit that the House voted to terminate by the end of this year, said a key Republican official. "That's on the table," said Senator John Cornyn (R-Texas), who serves on the Senate's tax writing committee, in response to a reporter asking him in Washington DC this week whether there's any effort to "reinstate the hydrogen tax credit." A spokeswoman for Cornyn confirmed the exchange in an email to Argus . The lucrative credit was part of a raft of clean energy incentives originating from President Joe Biden's signature climate bill that House Republicans voted to repeal to offset President Donald Trump's more than $4 trillion tax cut. If the House version of the bill passes it would effectively end billions of dollars worth of projects to produce cleaner hydrogen either from electrolysis powered by renewables or natural gas with carbon capture and storage. Green energy advocates and fossil fuel producers have combined efforts to lobby the Senate to extend the credit's lifetime. The American Petroleum Institute, the Fuel Cell & Hydrogen Energy Association and multiple Chambers of Commerce representing cities along the US Gulf coast, which stand to benefit from blue hydrogen projects, asked the Senate in a letter this month to preserve the credit until 2029. By Jasmina Kelemen Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

EPA readies new biofuel blend mandate proposal


12/06/25
12/06/25

EPA readies new biofuel blend mandate proposal

New York, 12 June (Argus) — President Donald Trump's administration is close to releasing two regulations informing oil refiners how much biofuel they must blend into the conventional fuel supply. The two rules — proposed biofuel blend mandates for at least 2026 and most likely for 2027 as well as a separate final rule cutting cellulosic fuel mandates for last year — exited White House review on Wednesday, the last step before major regulations can be released. Previously scheduled meetings as part of the process appear to have been cancelled, another signal that the rules' release is imminent. The Environmental Protection Agency (EPA) has said it wants to get the frequently delayed Renewable Fuel Standard program back on its statutory timeline, which would require volumes for 2027 to be finalized before November this year. Any proposal will have to go through the typical public comment process and could be changed. A coalition of biofuel-producing groups and feedstock suppliers, including the American Petroleum Institute, has pushed EPA to set a biomass-based diesel mandate of 5.25bn USG for 2026, hoping that a record-high target will support biorefineries that have struggled this year. Many plants have idled or run less recently, as uncertainty about future blend mandates, the halting rollout of a new clean fuel tax credit, and tariffs that up feedstock costs all hurt margins. EPA administrator Lee Zeldin also told a House subcommittee last month the agency wanted "to get caught up as quickly as we can" on a backlog of small refiner requests for program exemptions. Courts took issue with EPA's exemption policy during Trump's first term and again during President Joe Biden's tenure, leaving officials now with dozens of waiver requests covering multiple compliance years still pending. It is unclear whether the rule will provide clarity on EPA's plans for program waivers — including whether the agency will up obligations on other parties to make up for exempt small refiners — but biofuel groups have worried that widespread exemptions would curb demand for their products. The price of Renewable Identification Number (RIN) credits used for program compliance have been volatile this year on rumors about these exemptions, which EPA has called market manipulation. RIN trading picked up and prices rose on the news as Thursday's session began. Bids and offers for 2025 ethanol D6 RINs, the most prevalent type currently trading, began the day at 96¢/RIN and 98¢/RIN, respectively. Deals were struck shortly after at 98¢/RIN and 99¢/RIN, with seller interest at one point reaching 100¢/RIN — well above a 95.5¢/RIN settle on Wednesday. Biomass-based diesel D4 RINs with concurrent vintage followed the same path with sellers holding ground as high as 107¢/RIN. By Cole Martin and Matthew Cope Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Ice gasoil backwardation widens as supply tightens


12/06/25
12/06/25

Ice gasoil backwardation widens as supply tightens

London, 12 June (Argus) — The premium of front-month Ice gasoil futures against the second-month futures has widened over the past two weeks, reflecting tighter supply. The premium of Ice June futures against the July contract settled at $9.50/t on Wednesday, 11 June. The backwardation — where prompt prices are greater than forward prices — has steepened in the past two weeks, peaking at a premium of $16/t on Tuesday, 10 June, the joint-widest in 14 months along with 11 March. Two weeks ago, on 23 May, the premium settled at $6.50/t. The June contract expires today, which could have contributed to the steepening backwardation as traders close their open positions, according to market participants. But the size of the premium suggests a tightening market. A closed arbitrage from the Mideast Gulf and India since April has reduced supply to Europe, European traders have said. Only 2.97mn t of diesel and other gasoil has arrived in Europe from the Mideast Gulf and India in April and May, according to ship-tracking service Vortexa, compared with about 5.72mn t in the same period last year. The arbitrage has been closed because of relative weakness in European prices compared with those in Singapore. The premium of front-month Ice gasoil futures against Singaporean equivalents averaged $18.65/t in May, compared with $23.81/t in May 2024. Singaporean middle distillate stocks fell to a nine-month low in the week ending 23 April, increasing demand for imports. European diesel values fell sharply at the start of April in response to the implementation of US tariffs, largely because of dampened expectations of industrial performance, and have not recovered. The start of the Mediterranean emissions control area (ECA) at the start of May has also placed strain on European supply of diesel and other gasoil. The ECA requires ships in the Mediterranean to use fuel with a sulphur content of 0.1pc, rather than the previous requirement of 0.5pc. Marine gasoil (MGO) fits the new requirement, as does ultra-low sulphur fuel oil (ULSFO). With supply of the latter limited in Europe, the majority of shipowners have switched to MGO. Refineries have probably increased MGO production to meet this new demand, but MGO supply is still "very tight" , a Mediterranean-based marine fuels trader said. Most of the gasoil used for blending in MGO is suitable for desulphurisation and use as road fuel, and so it diversion into marine fuels restricts supply of diesel. Independently-held inventories of diesel and other gasoil at the Amsterdam-Rotterdam-Antwerp (ARA) hub have dropped since the start of April. The four-week average came to about 2.1mn t on 5 June, lower on the year by 8.5pc, according to consultancy Insights Global. On 3 April the four-week average was 5.1pc higher than a year earlier. A recovery in Rhine river water levels in recent weeks , after lows that restricted barge movement inland from ARA, contributed to the stockdraw. By Josh Michalowski Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Mexico’s ASA to play key role in SAF expansion


10/06/25
10/06/25

Mexico’s ASA to play key role in SAF expansion

Mexico City, 10 June (Argus) — State-owned Airports and Auxiliary Services (ASA) will take a central role in developing Mexico's still nascent sustainable aviation fuel (SAF) market, with fuel availability becoming one of its top priorities, officials said today. ASA remains the country's main jet fuel supplier, serving 52 airports and covering over 90pc of the domestic market, infrastructure, communications and transportation minister Jesus Esteva said. Speaking at an event marking ASA's 60th anniversary, Esteva said the implementation of SAF is "one of the biggest challenges" the government faces in the aviation sector, and that ASA must lead efforts to expand supply. "ASA aims to boost the use of clean energy, leading the sustainable transition for Mexico's aviation sector through the development and ongoing implementation of SAF," said ASA director Carlos Merino. The initiative seeks to reduce aviation's carbon footprint while maintaining service quality and efficiency, he added. ASA announced last year the launch of a pilot project to blend imported SAF with conventional jet fuel, with a long-term goal of producing SAF entirely in Mexico by 2030. For now, imports — most likely from the US — remain necessary. Mexico is participating in the International Civil Aviation Organization's (ICAO) Corsia scheme, which aims to reduce greenhouse gas emissions from international flights. Corsia includes a voluntary phase from 2024-2026, followed by mandatory targets from 2027-2035. Under the scheme, airlines must either use SAF or offset emissions by purchasing carbon credits, with exemptions for underdeveloped countries and those with minimal global air traffic. Sustainability will become increasingly important as Mexico's aviation sector grows, said Miguel Vallin, head of the federal civil aviation agency AFAC. Passenger traffic is projected to rise from 124mn in 2025 to 151mn in 2030 — an average annual increase of 3.3pc. ASA operates 52 jet fuel storage terminals across Mexico, with annual sales of around 5.4bn l (93,000 b/d), Esteva said. The government holds a monopoly over Mexico's jet fuel market, with ASA and state-owned Pemex supplying most of the market, with indirect participation of other companies. Jet fuel was the last oil product market opened to more competition in Mexico after constitutional changes in 2014, but progress stalled under the administration of former president Andres Manuel Lopez Obrador. Under President Claudia Sheinbaum, the government has kept the jet fuel market under close state oversight. By Cas Biekmann Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Brazil inflation eases to 5.32pc in May


10/06/25
10/06/25

Brazil inflation eases to 5.32pc in May

Sao Paulo, 10 June (Argus) — Brazil's inflation slowed to an annual 5.32pc in May, snapping a three-month upswing since February, according to government statistics agency IBGE. The country's annualized inflation slowed from 5.53pc in April but was up from 4.56pc in January. Shelter costs, which include utilities, posted the largest gain in May, rising to an annual 4.53pc from 4pc in April. The acceleration took place thanks to a federal increase in power tariffs last month because of dry weather hampering hydroelectric power generation, which is Brazil's main power source. Transportation costs decelerated to 4.64pc in May from 5.49pc in April, in part driven by an annualized 13.16pc contraction in airplane tickets. Motor fuels also decelerated to 7.95pc in May from a 9.23pc gain in the month prior. Gasoline, ethanol, diesel and compressed natural gas (CNG) prices all fell in May, following some readjustments by state-controlled Petrobras . Food and beverage costs slowed to an annual 7.33pc in May from 7.81pc in April. Soybean oil prices eased to 21.1pc from 22.83pc. Brazil's monthly inflation slowed to 0.26pc in May from 0.43pc in April. That is the third monthly decline and the lowest rate since January. The country's decelerating inflation is partially thanks to the central bank's course of tightening, hiking its target rate to 14.75pc in early May. That was the sixth increase in a row since September, aimed at cooling the economy and boosting the real currency following sharp depreciation last year. By Maria Frazatto Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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