Marine biodiesel demand slips in Rotterdam 2Q sales

Spanish Market: Biofuels, Natural gas, Oil products
30/07/24

Sales of fossil bunker fuels and marine biodiesel blends at the port of Rotterdam inched higher in the second quarter of the year, but were below levels of a year earlier, according to official port data.

Marine biodiesel blend sales retracted by about 10.5pc quarter-on-quarter (see table). Market participants pointed to muted spot demand as a consequence of limited regulatory incentives and cheaper marine biodiesel prices east of Suez. The premium held by B30 used cooking oil methyl ester (Ucome) dob ARA to B24 Ucome dob Singapore averaged $93.17/t in the April-June period, compared with $40.98/t in the two months prior to April.

But blend sales were 26.5pc above April-June 2023, with stable voluntary demand from cargo owners seeking scope 3 emissions rights and shipowners conducting trials ahead of the introduction of FuelEU Maritime regulations next year.

High-sulphur fuel oil (HSFO) sales rose slightly on the quarter and fell from the second quarter of last year. Chronic traffic disruption in the Red Sea has continued to redirect vessels on a longer journey around the Cape of Good Hope.

Market participants told Argus this has lent support to HSFO demand in Rotterdam, with the high-sulphur product a lucrative option for scrubber-fitted vessels embarking on the east-west route. Sales of very-low sulphur fuel oil (VLSFO) and ultra-low sulphur fuel oil (ULSFO) rose by 7pc compared with the first three months of the year, but tumbled from the second quarter of 2023. Market participants reported limited VLSFO demand and steady production during the quarter.

Combined sales for marine gasoil (MGO) and marine diesel oil (MDO) fell on the quarter and on the year in April-June with mostly lacklustre demand.

LNG bunker fuel sales continued to rise, further complimented by 2,200m³ of bio-LNG sold, the highest since official records for bio-LNG sales began.

By Hussein Al-Khalisy

Rotterdam bunker sales					t
Fuel	2Q24	1Q24	2Q23	q-o-q%	y-o-y%
VLSFO & ULSFO	917,253	857,579	1,127,145	7	-18.6
HSFO	825,125	818,028	847,189	0.9	-2.6
MGO & MDO	369,267	383,409	404,872	-3.7	-8.8
Biofuel blends	235,043	262,634	185,824	-10.5	26.5
Total	2,346,688	2,321,650	2,565,030	1.1	-8.5
LNG (m³)	148,932	131,960	110,231	12.9	35.1
bio-LNG (m³)	2,200	0	0	-	-
Port of Rotterdam

Related news posts

Argus illuminates the markets by putting a lens on the areas that matter most to you. The market news and commentary we publish reveals vital insights that enable you to make stronger, well-informed decisions. Explore a selection of news stories related to this one.

23/06/25

Iran fires missiles at US military base in Qatar

London, 23 June (Argus) — Iran today fired missiles at a US base in Qatar in retaliation for the weekend attack on its nuclear facilities. The Iranian military said the US' Al-Udeid base was its target. The Qatari government said it intercepted the missiles and there were no deaths or injuries. Tensions in the region have been stretched since the US bombed Iranian nuclear facilities at the weekend. US president Donald Trump today again expressed a desire for regime change in Tehran, which in turn said US military interests were now legitimate targets. Earlier, Qatar closed its airspace and the US and UK embassies there issued safety warnings to their citizens, suggesting this Iranian attack was flagged and expected. The price of Ice Brent crude fell by as much as 4.5pc in the wake of the Iranian attack to an intraday low of $72.48/bl, having hit a five-month high of $81.40/bl earlier in the day. The Iranian move echoes its attacks on US military targets in Iraq after the US' killing of senior Iranian military commander Qassem Soleimani in January 2020. Perhaps mindful of this, foreign firms operating in Iraq today started removing some employees from the country. Regional airlines began cancelling and rerouting flights across the Middle East, with flight tracking showing almost no flights in the air above the Mideast Gulf. By Ben Winkley Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Trump escalates pressure to keep oil prices down

23/06/25

Trump escalates pressure to keep oil prices down

Washington, 23 June (Argus) — President Donald Trump is pressing domestic oil producers to increase drilling as he works to contain the energy market fallout from a potential escalation in hostilities following US airstrikes on nuclear sites in Iran. Trump said today he was monitoring how the oil industry is responding to the conflict, which depending on Iran's response could disrupt 17mn b/d of crude and refined products that are shipped through the strait of Hormuz. The US carried out air strikes on Iran's Fordow, Natanz and Isfahan nuclear sites early on 22 June local time. Brent crude futures hit a five-month high above $80/bl earlier Monday but had fallen to $73.81/bl as of 1:18 pm ET, after Iran said it had launched an attack on a US military base in Qatar. "EVERYONE, KEEP OIL PRICES DOWN. I'M WATCHING! YOU'RE PLAYING RIGHT INTO THE HANDS OF THE ENEMY. DON'T DO IT!" Trump wrote Monday morning in a post on his social media website Truth Social. Trump followed up by directing the US Department of Energy (DOE) to "DRILL, BABY, DRILL!! And I mean NOW!!!" US energy secretary Chris Wright, in a social media post responding to Trump's instructions, said "we're on it" but did not say what actions he would take. DOE does not have a formal oversight or regulatory role related to oil and natural gas production, although it does manage the US Strategic Petroleum Reserve (SPR). The White House, asked for comment, said Trump was urging his administration to support drilling to keep energy prices low. Since Trump's first day in office, he has "championed domestic energy production to strengthen American economic security", the White House said. DOE did not immediately respond to a request for comment. Trump has sought to increase US oil production by easing regulations, expediting environmental reviews and expanding leasing, but it could take years for those actions to translate into higher production. In the near-term, Trump's most potent tool to reduce prices would be ordering a release of oil from the SPR, which holds 402.5mn bl of crude in four storage sites in Louisiana and Texas. Trump and many other Republican lawmakers were critical of former president Joe Biden for ordering the emergency release of 180mn bl of crude from the SPR in 2022 in the wake of Russia's invasion of Ukraine. Trump has said he wants to refill the SPR to its full capacity of 714mn bl. The White House said Monday it is not yet seeing interruptions to oil flows, but that the "many tools" available to the president and his "commitment to peace through strength" should "all be reassuring to the market". By Chris Knight Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

LNG as marine fuel demand could rise by '35: Correction

23/06/25

LNG as marine fuel demand could rise by '35: Correction

Corrects statement on US LNG exports in paragraph 6. New York, 23 June (Argus) — Demand for LNG as a marine fuel will increase within the next 10 years if supply is boosted by exports from the US and Russia, according to Danish bunker supplier Monjasa. An increase in US and Russian LNG exports would make it a more viable option in the marine fuel market compared with conventional bunker fuel, Monjasa chief executive, Anders Østergaard said today at the Marine Money convention in New York. "If more Russian and more American LNG would come into the global markets, then I truly believe — and we've seen that before the war between Russia and Ukraine — that the price of LNG would beat the price of both fuel oil and diesel oil," Østergaard said. Conventional marine fuels, such as high-sulphur fuel oil and very low-sulphur fuel oil, will remain the dominant fuels in the bunker market in the next 10 years like it is today, according to Østergaard. Demand for other potential alternative marine fuels, like ammonia and methanol, are not likely to pick up by 2035 because the cost to use those fuels is not competitive unless regulations to use those fuels are changed, he said. The US is currently the largest global LNG exporter. Former US president Joe Biden's administration paused issuing export licenses for new LNG terminals last year. President Donald Trump lifted the ban earlier this year and has been approving export licenses for proposed LNG terminals. The EU has relied less on Russian gas and oil imports since Russia invaded Ukraine in 2022 and it is proposing to phase out all gas and oil imports by January 2028. By Luis Gronda Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Qatar closes airspace as 'precaution'

23/06/25

Qatar closes airspace as 'precaution'

London, 23 June (Argus) — Qatar today closed its airspace in what it called a "precautionary measure". The move came after the US embassy in Qatar ordered its citizens to "shelter in place". The UK followed this, with both embassies saying the order was "out of an abundance of caution". The Qatari government said the embassies' warnings did not "necessarily reflect the existence of specific threats". The country's foreign office said the airspace closure was undertaken "based on developments in the region". Tehran said today that US airstrikes have expanded the range of legitimate military targets for its armed forces, and Qatar hosts the US' largest military base in the Middle East. Closure of Qatari airspace will make traversing the Mideast Gulf region by air more complicated. Air traffic tracking data show a complete absence of aircraft over Lebanon, Syria, Iraq and Iran, with all flights from east to west diverting either north or south of this region. By Ben Winkley Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Trump again brings up regime change in Iran

23/06/25

Trump again brings up regime change in Iran

Washington, 23 June (Argus) — President Donald Trump's administration is trying to articulate what it ultimately aims to achieve in Iran, after directly involving the US in the Israel-Iran war over the weekend. Senior administration officials took to the TV news shows on Sunday to assert that Washington is not trying to topple the government in Iran. They claimed that the US bombing raids, in the early hours of Sunday Tehran time, caused irreparable damage to Iran's nuclear program. And they suggested that the US will not carry out additional air strikes unless Iran retaliates against US interests in the region or targets vessel traffic in the strait of Hormuz. But Trump then contradicted his own administration's message by posting on his social media platform: "If the current Iranian Regime is unable to MAKE IRAN GREAT AGAIN, why wouldn't there be a Regime change??? MIGA!!!" Iran has responded with tough rhetoric to the US air strikes but did not hit back at US interests across the region, even though Iran and Israel continued to exchange missile attacks. Tehran said today that US airstrikes have expanded the range of legitimate military targets for its armed forces, while a senior Iranian lawmaker said the parliament has concluded that the strait of Hormuz "should be closed". The strait of Hormuz is the world's most critical oil transit route, with around 17mn b/d of crude and refined products — roughly a quarter of global seaborne oil trade — passing through it. Iran has repeatedly threatened to close the strait in past confrontations but has never followed through on that rhetoric. In the past, Tehran has targeted or seized vessels transiting the waterway, prompting some shipowners to consider alternative routes. Crude oil futures, which in the run-up to the US attack already reflected risk premiums associated with potential disruption to oil flows from the Mideast Gulf, rose in early trading in Asia today but eased later in the day. Trump, who has frequently touted declines in oil prices during his second administration, posted today: "EVERYONE, KEEP OIL PRICES DOWN. I'M WATCHING! YOU'RE PLAYING RIGHT INTO THE HANDS OF THE ENEMY. DON'T DO IT!" He then posted, "To The Department of Energy: DRILL, BABY, DRILL!!! And I mean NOW!!!" The Energy Department cannot mandate how much crude US oil companies produce, but it does control the US emergency oil stocks. Uncertainty ahead The Pentagon has been more restrained than Trump and his national security advisers in providing an assessment of the air strikes. Joint Chiefs of Staff chairman, general Dan Caine said on Sunday that initial assessments indicated that Iran's nuclear facilities suffered "extremely severe damage and destruction" but noted that it was too early to say whether Iran maintains any nuclear capability. Trump by contrast posted about "monumental damage" and asserted that "obliteration is an accurate term" in reference to Iran's nuclear sites. "Sometimes we have a tendency to think that a military solution can insert some certainty into a situation," said retired general Joe Votel, who commanded Middle East-based US forces in 2016-19. "But I think what we're seeing here is that there still is a significant amount of uncertainty about what is going to take place." It will take time to accurately assess the impact of US air strikes on Iran's nuclear program, Votel said today during a discussion hosted by think tank the Middle East Institute. The UN's nuclear watchdog, the IAEA, said on 22 June that no increases in off-site radiation levels had been reported following the US strikes. The eventual shape of Iran's response is a further cause of uncertainty, Votel said. "Do they have a surprise for us, if they held something in reserve that we're going to see revealed here?" An Iranian counter-attack aimed at the US would invite more US strikes. But if Iran's response proves muted or non-existent, "will we be going back?," he asked. "And then, how does all this conclude?" The US embassy in Qatar today issued a "shelter in place" warning to US citizens in the country, which hosts the largest US air force base in the region. The US embassy did not cite a specific threat, noting that the warning was out of an "abundance of caution". The UK embassy issued a similar warning to British citizens. By Haik Gugarats Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Business intelligence reports

Get concise, trustworthy and unbiased analysis of the latest trends and developments in oil and energy markets. These reports are specially created for decision makers who don’t have time to track markets day-by-day, minute-by-minute.

Learn more