バイオ燃料と原料
概要
アーガスのバイオ燃料ソリューションは、原燃料から最終燃料まで、世界の再生可能燃料サプライチェーン全体にわたる詳細な価格と市場分析を提供し、地域のバイオディーゼル、エタノール、原燃料市場などに関する価格と重要な洞察を提供します。
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European HVO prices uncoupled from diesel
European HVO prices uncoupled from diesel
London, 6 March (Argus) — European hydrotreated vegetable oil (HVO) outright prices have remained relatively stable throughout the week despite the ongoing US-Iran conflict driving fossil fuel prices to multi-year highs. The premium for HVO compared with gasoil — which represents the additional cost of replacing one tonne of diesel to one tonne of HVO — has fallen sharply as gasoil has risen, meaning that HVO is relatively more competitive with fossil fuel since the war began ( see chart ). The lower premiums for HVO could theoretically support additional buying from those looking to comply with biofuel mandates while it is most cost-effective and takes some pressure off strained oil supply chains. But overall HVO buying has been slower throughout the first quarter because of ongoing uncertainty about unfinalised German legislation and generally poor diesel demand, resulting in a contango into the second quarter when participants expect more clarity and the beginning of the summer driving season. The landscape could also be muddied by the interplay between HVO and sustainable aviation fuel (SAF), which are produced by the same plants. Unlike HVO, SAF prices have risen significantly since the start of the week, and there are concerns about the possibility of China restricting exports for biofuels at some point as was done with oil products to secure domestic supply. If SAF prices continue to rise, European producers could switch production, limiting HVO availability — although stock levels are currently strong and would take time to deplete. By Simone Burgin and Evelina Lungu HVO premiums decreasing while gasoil rises $/t Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
US sorghum turns to ethanol as exports slows
US sorghum turns to ethanol as exports slows
St Louis, 5 March (Argus) — Slowing global trade activity, and growing biofuels opportunities have pushed US sorghum growers to pivot towards ethanol as a future driver of demand. Slowing international trade, with some partners "on the sideline" this year combined with a large harvest has created "piles" across the sorghum belt, said John Duff, with the US National Sorghum Producers (NSP) said during the Commodity Classic in San Antonio, Texas, last week. China was the largest purchaser of US sorghum, importing nearly 60pc of US sorghum production from 2020 through 2024, according to US Department of Agriculture (USDA) data. Another 5pc of US sorghum production has historically been shipped to African countries, often supported by food aid programs like US Agency for International Development (USAID). These export opportunities took a hit in 2025 following the US-China trade dispute , and the cancellation of USAID by US president Donald Trump. During 2025, combined sorghum exports to China and Africa fell 88pc from the previous year, pulling US sorghum exports to their lowest level in over a decade. At the same time, the US sorghum harvest reached 11.1mn metric tonnes (t) in 2025 – its highest level in 9 years — boosting US stocks to 6.8mn t as of 1 December 2025, up 26pc from the previous year, according to USDA data. This supply glut occurred along with growing demand from US ethanol producers for sorghum , which saw usage increase 273pc to 3.1mn t in 2025 on the year, according to US Energy Information Administration (EIA) data. To continue increasing sorghum's role in the US fuel ethanol sector, the NSP is looking to US biofuels policy for support. The future looks domestic Ethanol producers have only opportunistically used sorghum as a feedstock in the past due to technological and logistic limitations. Sorghum inclusion rates have been historically limited by the need for finer screens compared with corn for grinding the grain, and the inclusion of protease enzymes for fermentation. But these practices are now widely adopted across the ethanol industry, with some producers storing the grain in the same bins alongside corn, Duff said. But sorghum historically "isn't in the right place at the right time" due to a narrow harvest window and lack of on-farm storage. The Renewable Fuels Association (RFA) lists 17 facilities in its directory that can use sorghum as a feedstock for ethanol, with a combined production capacity of 1.34bn USG/yr. Ethanol yields from sorghum are typically lower on a per bushel (bu) basis than corn by 0.1-0.2 USG/bu, said Tad Hepner, vice president for strategy and innovation at the RFA. Typically, one bushel of corn produces 2.9 USG of ethanol, meaning current ethanol plants could consume as much as 12.6mn t/yr of sorghum. Full utilization by these plants would still be a fraction of the more than 130mn t of corn that ethanol production consumes annually. And the location of these plants reflects the crop's limitations. Last year, Texas, Kansas and South Dakota accounted for more than 80pc of both US sorghum acres and ethanol plants capable of using the crop. But last year did see sorghum displace a significant amount of corn. In 2025, US fuel ethanol production increased by 6.41mn bl from the prior year, according EIA data. At the same time, ethanol producers reduced corn use by 2.1mn t and increased sorghum use by 2.27mn t, according to EIA data. Overcoming the logistics hurdle could prove a win-win for US ethanol and sorghum markets, particularly as biofuel polices appear set to align with the crop. Over 80pc of US sorghum production occurs in states which use agricultural production practices including reduced or no tillage, and split nitrogen application by necessity, Duff said. These practices can make the crop eligible for the 45Z clean fuels tax credit scheme. Data is king A major limitation in expanding sorghum's appeal to ethanol producers is the collection and verification of production data. Because the practices that make sorghum eligible for 45Z credits were adopted as a necessity years ago, farmers often do not track and report them, making it difficult to claim the credits' value, Duff said. But the NSP is working to address this issues through a $70mn USDA Advancing Markets for Producers grant focused on improving farmer data collection. This, along with the USDA's recently announced One Farm, One File initiative could reduce this barrier. US sorghum producers are also looking to other markets as pathways towards expanding ethanol's interest in the feedstock. The NPS is working to present a case to the US Environmental Protection Agency that would make the ethanol produced from sorghum eligible for the advanced biofuel D5 RIN credit under the Renewable Fuels Standard, Duff said, which would enhance the crop's appeal to ethanol producers. By Ryan Koory Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Hong Kong conducts first green methanol bunkering
Hong Kong conducts first green methanol bunkering
Shanghai, 5 March (Argus) — Hong Kong completed its first green methanol bunkering today, supplying 500t of biomethanol and 1,000t of fossil methanol to China Merchants' CM Hong Kong . Sinopec Hong Kong, China Merchants RoRo and Sinobunker jointly carried out the operation. Sinopec Hong Kong conducted the bunkering using a 7,500dwt methanol dual-fuel barge , Daqing 268 , chartered from Sinobunker. The barge was delivered in early January and completed its first 200t bunkering at Shenzhen port later in the month. CIMC Enric supplied the 500t International Sustainability and Carbon Certification (ISCC) EU-certified biomethanol from its 50,000 t/yr biomethanol plant in Zhanjiang, Guangdong province, with greenhouse gas reduction of over 80pc against a 94g CO2/MJ comparator. CM Hong Kong is China Merchants' first 9,300 twenty-foot equivalent unit (TEU) methanol dual-fuel roll-on/roll-off (RoRo) ship. It refuelled with 300t of biomethanol at China's Tianjin port in September 2025, with materials from Towngas' 50,000 t/yr plant in Ordos, Inner Mongolia. Hong Kong has scheduled for another 200t biomethanol bunkering on 10 March for Cosco's 20,000 TEU methanol dual-fuel containership Cosco Gemini , also using Sinobunker's methanol barge. Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
No tankers crossed Hormuz on 3 March: JMIC
No tankers crossed Hormuz on 3 March: JMIC
New York, 4 March (Argus) — There was no tanker traffic through the strait of Hormuz on 3 March, the fourth day of fighting between the US, Israel and Iran, due to threats of attacks from Iran and satellite jamming, according to global maritime security partnership Joint Maritime Information Center (JMIC). That total on Tuesday compares to 50 tankers on 28 February, the first day of fighting, and three tankers each on 1 and 2 March, according to the JMIC in a notice shared by the United Kingdom Maritime Trade Operations. Cargo ship traffic dropped to only a single vessel on 3 March from 98 on 28 February, 18 on 1 March and seven on 2 March. The historical daily average for all vessels through the strait is about 138 ships, JMIC said. The notice, which was published by JMIC at about 12:27pm ET on 4 March, included four vessels in a list of confirmed vessel incidents from the "approximately past 24 hours". The containership Safeen Prestige was the only vessel with damage the JMIC did not describe as "minimal" and the only vessel that was located within the strait of Hormuz at the time of its incident. The Gold Oak dry bulker, anchored near Fujairah, sustained minimal damage. The tanker Libra Trade r also sustained minimal damage 10 nautical miles off the coast of UAE. "US and Israeli-affiliated or flagged vessels are advised to minimize time spent pier-side or at anchor within high-risk zones to reduce vulnerability of targeting," JMIC said. "Maintaining movement and avoiding predictable patterns remains critical for mitigating the risk of targeting strikes or collateral damage." Vessel tracking data and navigational tools within the region will likely become increasingly unreliable in the days to come with significant Global Navigation Satellite System jamming underway throughout the strait of Hormuz, Gulf of Oman and the Arabian Gulf, according to JMIC. "Observed impacts include positional offsets, Automatic Identification System anomalies and intermittent signal degradation," JMIC said. By Ross Griffith Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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