Idemitsu, Kanematsu start biofuel supply for ships

: Biofuels, Emissions, Freight, Oil products
25/12/03

Japanese refiner Idemitsu and trading house Kanematsu have started supplying biofuel mixed with fatty acid methyl ester (Fame) for oceangoing ships, to help reduce greenhouse gas (GHG) emissions in the maritime sector, the companies said today.

In October, Idemitsu began bunkering cleaner fuel oil, which includes up to 24pc of Fame, for oceangoing ships, using Kanematsu' storage and shipping facilities in southern Japan's Kokura, a spokesperson at Idemitsu told Argus on 3 December.

Under this partnership, Kanematsu procures Fame and blends it with fuel oil supplied by Idemitsu.The Fame mixture will cut GHG emissions by around 20pccompared with conventional fuel, Kanematsu said.

Idemitsu aims to deliver a total of 5,000t of bio-blended fuel by March 2026, including supply for domestic vessels. This is equivalent to the amount of fuel consumed by a 300,000 dwt vessel during about 50 days of operation, the company added.

The start of their commercial operations comes after Idemitsu's demonstration in northern Hokkaido, where it tested bunkering operations for coastal vessels with fuel containing 24pc Fame in 2023-24.

Idemitsu is also gearing up to develop a supply chain for low-carbon methanol for vessels, aiming to start methanol bunkering from the April 2026-March 2027 fiscal year.

By Motoko Hasegawa

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25/12/04

Funds’ Ice gasoil long position down from 45-month high

London, 4 December (Argus) — Sharp swings in European diesel prices in November were driven in part by entities with no physical exposure, as money managers briefly held their largest long positions in Ice gasoil futures in nearly four years. Funds have looked to gasoil futures because of increasing volatility in the contract when compared with Ice Brent crude futures, according to a senior participant in oil paper markets. The daily change in the value of front-month Ice gasoil has averaged 1.66pc so far this year, compared with 1.32pc for front-month Ice Brent. Money managers — hedge funds and pensions funds, along with other entities managing on behalf of clients — have increased their long positions in Ice gasoil futures as the year has progressed. This reached a 45-month high of 153,689 lots in the week to 18 November, according to Ice's Commitment of Traders report. Ice gasoil futures hit $777.50/t on 18 November, the third-highest of the year. Money managers trimmed 10pc of that position the following week, to 137,971 as of 25 November. Ice futures fell below $700/t on that date, pressured by reported progress on a plan to end the conflict in Ukraine. This led market participants to consider what peace would mean for diesel markets: a slow down in Ukraine's drone campaign against Russian energy infrastructure and, in the longer term, a possible European return to importing Russian diesel. Funds' long position is still almost double the 74,015 held at the start of 2025, and the average 75,398 held in 2024. Long and the short of it Before peace talks started to progress, money managers' net long positions were the highest in more than three-and-a-half years. An analyst said funds have probably taken an overall position of being long diesel cracks — taking long positions in gasoil futures and short ones in Brent. Permanent cuts to refining capacity in Europe, as well as extensive temporary outages this year, have contributed to a disconnect between gasoil and Brent price movements. As gasoil prices rise, refiners can hit capacity limits, which has capped their crude buying and kept Brent steadier. Managed money held the biggest short position in Brent since at least 2015 on 21 October at 190,639 lots. This has fallen since, but did rebound to 163,975 on 25 November, the eighth shortest since 2015. Funds' involvement in futures has further increased volatility, as they tend to buy and sell futures more quickly than entities with physical exposure. That volatility increases potential losses as well as potential gains. Some funds may have made very large losses this year because of unexpected swings, the paper market participant said. European diesel often prices on a exchange-of-futures-for-physical (EFP) basis, using Ice gasoil futures, meaning the futures price can be an influence on the physical price. European physical diesel cargoes priced at a $45.64/bl premium against North Sea Dated on 19 November, the highest in nearly three years. The following week, when money managers were cutting their long positions, the physical diesel premium fell to $27.15/bl. Ice gasoil futures is a physically-delivered contract, so any price dislocation is generally soon closed as traders look to work an arbitrage between the futures and physical. By Josh Michalowski and Benedict George Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Контейнерные перевозки через Каспий подорожают

25/12/04

Контейнерные перевозки через Каспий подорожают

Riga, 4 December (Argus) — Стоимость транспортировки контейнеров по Транскаспийскому международному транспортному маршруту (ТМТМ) в декабре вырастет относительно октября — ноября. Тарифы увеличатся на фоне ожидаемой отмены скидок, которые транспортные компании вводили для привлечения грузов, полагают участники рынка. Стоимость контейнерных перевозок снижалась последние четыре месяца. Стоимость перевозки 40-футового высокого контейнера (40HQ) из Сианя в Абшерон (Баку) в декабре увеличится до $5 500—5 600/40HQ с $5 350—5 400/40HQ — месяцем ранее, полагают экспедиторы. Срок прохождения контейнерными поездами маршрута Сиань — Алтынколь — Актау — Алят — Абшерон в ноябре составлял 14—18 суток, как и месяцем ранее, рассказали перевозчики. Стоимость перевозок контейнеров из китайского Иу, а также с прилегающих станций на востоке Китая в Абшерон в декабре составит $5 500—6 900/40HQ относительно $5 350—7 050/40HQ в ноябре, сообщили участники рынка со ссылкой на прайс-лист Maersk. К увеличению стоимости контейнерных перевозок могут также привести неблагоприятные погодные условия в зимнее время на Каспии и в Черном море, что ограничит морскую транспортировку контейнеров, полагают перевозчики. Стоимость перевозки из Сианя в турецкий Мерсин/Амбарлы транзитом через Апшерон/Алят в ноябре составила $5 800—7 250/40HQ, как и месяцем ранее. Отгрузки контейнеров из Иу на терминал Амбарлы в Турции в декабре могут подешеветь до $5 800—6 700/40HQ с $6 300—7 200/40HQ на фоне разовых скидок к тарифам, предоставляемых Maersk, сообщили экспедиторы. В Азербайджане, Грузии и Казахстане по-прежнему простаивает несколько тысяч порожних контейнеров, по данным участников рынка на конец ноября. Компаниям не удается найти достаточно груза для обратной отправки контейнеров в Китай, сообщил представитель транспортной компании. В январе — октябре Азербайджанская железная дорога (АЖД) увеличила на 32% прием контейнерных блок-поездов по ТМТМ по сравнению с аналогичным периодом прошлого года, доведя их количество до 317 блок-поездов, в том числе 119 транзитных поездов, говорится в официальном сообщении АЖД. В Бакинском международном морском порту (Алят) в январе — октябре объем перевалки контейнеров увеличился на 38% относительно того же периода прошлого года и составил 86 тыс. ДФЭ (двадцатифутовый эквивалент), сообщает АЖД, владеющая портом. ________________ Больше ценовой информации и аналитических обзоров рынка транспортировки грузов в странах Каспийского региона и Центральной Азии — в отчете Argus Транспорт Каспия . Вы можете присылать комментарии по адресу или запросить дополнительную информацию feedback@argusmedia.com Copyright © 2025. Группа Argus Media . Все права защищены.

Arab region warming at twice the global average: WMO

25/12/04

Arab region warming at twice the global average: WMO

London, 4 December (Argus) — The Arab region is warming at twice the global average, with temperatures increasing by 0.43°C per decade from 1991 to 2024, a report from the World Meteorological Organisation (WMO) found today. The world experienced the hottest year on record in 2024. The average temperature across the Arab region in 2024 was 1.08°C higher than the 1991-2020 average, the WMO said. The Arab region saw "intense heatwaves and droughts as well as extreme rainfall and storms", the WMO added. The WMO's report, the inaugural State of the Climate in the Arab Region , covers 22 countries across north and east Africa and the Middle East and was compiled with the Economic and Social Commission for Western Asia and the League of Arab States. The Middle East and north Africa "are among the hottest regions in the world, and climate projections indicate a continued intensification of summer heat extremes in both subregions", the WMO said. The report also included regional climate projections from the UN Intergovernmental Panel on Climate Change. "If the current warming rate continues, mean temperature increase in the Arab region could reach 1.8°C with respect to the 1991-2020 average by 2050", the report found. A handful of climate plans — known as nationally determined contributions (NDCs) — submitted recently by Arab region countries underline the challenges that climate change poses for the region. NDCs submitted over the past few weeks by Bahrain, Qatar and Yemen all note the countries' vulnerability to climate change, including water scarcity. Of the 20 most water-scarce countries globally, 15 are in the Arab region, and climate change is compounding this, the WMO said. Qatar and Bahrain flagged in NDCs their water sectors as a source of emissions , including through power-intensive desalination processes. Bahrain this week noted its "water vulnerability as a challenge that is further intensified by climate change impacts", in its third NDC. By Georgia Gratton Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Qatar presents 2040 climate target to UN

25/12/04

Qatar presents 2040 climate target to UN

Edinburgh, 4 December (Argus) — Qatar has pledged to reduce its emissions by 42mn t of CO2 equivalent (CO2e) by 2040 from a 2019 baseline, with the oil and gas sector "at the forefront of national mitigation efforts". Qatar does not provide its total greenhouse emissions for 2019, but said its climate plan encompasses CO2, methane and nitrous oxide gases. It covers the energy sector — oil and gas, power and water — construction and industry, transport, waste and agriculture, forestry and other land use. Parties to the Paris Agreement were required to submit climate plans, known as nationally determined contributions (NDCs), for 2035 to the UN climate body UNFCCC this year. Qatar had previously targeted emission reductions of 25pc, or 37mn CO2e, by 2030, compared with a business-as-usual (BAU) scenario. BAU scenarios typically assume emissions based on current policies, leaving room for potential increases. The country's emission cuts in its oil and gas sector will rely on "deploying cleaner fossil fuel technologies, developing engineered sinks to store emissions, diversifying the energy mix, and driving operational excellence across existing facilities and infrastructure", according to its climate plan. Qatar is the world's largest LNG producer, with a production capacity of 77mn t/yr, according to QatarEnergy, and its economy is heavily reliant on hydrocarbon revenues. The country's climate plan highlights the country's vulnerability to response measures to mitigate climate change, resulting from its economy's reliance on hydrocarbons. "Qatar is actively working to reduce the socio-economic effects of global climate action," the plan said, adding that it seeks to balance climate goals with national sustainable development. "Despite many efforts and considering its role as a leading producer and exporter of natural gas, Qatar remains significantly vulnerable to climate response measures," it said. Qatar is part of the Arab Group, a negotiating group in UNFCCC climate talks, which is seeking to focus on cutting emissions from fossil fuels, rather than hydrocarbon production and consumption, through increased adoption of carbon capture technologies. The country said it plays "a pivotal role" in supporting other countries' targets by "reliably supplying them with a cleaner alternative to coal and oil and providing a critical backup for intermittent renewables". Qatar's climate plan sees the secure and affordable supply of lower-carbon energy as well as the deployment of carbon capture and storage (CCS) and the management of emissions of energy production as the focus to pursue sustainable development and climate action. The country considers itself to be among the leaders in CCS with its Ras Laffan project, and aims to capture 11mn t/yr of CO2 by 2035. Engineering firm Samsung C&T was recently awarded a contract to build a 4.1mn t/yr CO2 facility to process and store emissions from Qatar's LNG liquefaction plants. Qatar, in its climate plan, highlighted the country's water supply vulnerability to temperature increases and heat. The power and water sector accounts for a large share of the country's emissions. Water scarcity is also responsible for increasing greenhouse gas emissions (GHG) in Bahrain through desalination, although its energy sector remains the main source of emissions, according to the country's new climate plan. The country is heavily reliant on fossil fuels for its energy and revenues, while "limited land availability and competing land-use demands constrain large-scale deployment" for the development of solar energy. Rising demand over the peak summer months this year meant that Bahrain had to import LNG for the first time since commissioning its 800mn ft³/d onshore LNG receiving and regasification terminal in 2020. But it is looking at renewables options and is in talks with Saudi Arabia for a link to a large-scale solar facility. Bahrain said that response measures to climate change "may lead to economic losses that, in turn, hinder Bahrain's ability to pursue effective climate action and achieve broader sustainable development objectives." By Caroline Varin Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Australia proposes native forest management ACCU method

25/12/04

Australia proposes native forest management ACCU method

Mumbai, 4 December (Argus) — Australia's carbon market statutory body the Emissions Reduction Assurance Committee (Erac) has today released a proposal for a new carbon crediting method to enhance native forest management. The proposed Improved Native Forest Management in Multiple-use Public Native Forests (INFM) method aims to abate greenhouse gas (GHG) emissions by mitigating or reducing harvesting in multiple-use native public forests. Projects registered under the proposed method can generate Australian Carbon Credit Units (ACCUs), if approved. The government proposes at least a 20pc reduction in harvesting relative to baseline levels for INFM projects to receive ACCUs. Projects may have to cover a minimum of one entire forest region to reduce the risk of "carbon leakage" caused by harvesting from another area. Projects under the proposed methodology would have a reduced crediting period of 15 years, compared to the typical 25-year period for other land-based approaches. INFM projects would be required to ensure a 100-year permanence period to ensure long-term carbon sequestration. Stakeholder consultation on the proposed method will open from 2 January 2026 and will conclude on 30 January 2026. The INFM method is one the four new carbon crediting project methodologies proposed outside of government and prioritised for the ACCU scheme in October 2024 under a proponent-led model . The Australian carbon credit industry has been focusing on boosting future issuances to address an expected shift in the supply-demand balance within a few years. This has prompted the authorities to prioritise method approvals. By Shribalaji Shenbagaraj Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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