Rotterdam biomarine sales fall in 1Q

: Biofuels, Oil products
26/04/16

Marine biodiesel blend sales fell by 35pc in the first quarter compared with the fourth quarter of last year, but were roughly steady compared with the first quarter of 2025.

Participants pointed to lacklustre demand in January and February, with an uptick in March as the US-Iran war led to Dutch B100 flipping to a discount against MGO.

But these discounts failed to support significant demand growth, as volatility weighed on marine fuel trading activity and buyers hesitant to make significant changes to their procurement strategy based on an acute price spread.

Rotterdam's loss has been Singapore's gain. Data from the Port of Singapore showed roughly a 13pc growth in marine biodiesel blend sales on the quarter to the first quarter of 2026. This demand is attributed to FuelEU Maritime requirements, which came into effect in 2025 and require ships coming in, out of, and operating within EU waters to reduce emissions.

Shipowners bunkering marine biodiesel in Singapore for EU-bound voyages can use it for FuelEU Maritime compliance. And compliance generated from bunkering marine biodiesel in Singapore can then be used to achieve compliance on vessels operating European routes, via the pooling mechanism, in which obligated companies can combine their compliance balance with other vessels.

Bio-LNG sales firmed by 28pc on the quarter in the first quarter of 2026, generating over-compliance which has sold at a significant premium to cost. This may have also weighed on marine biodiesel blend sales, as bio-LNG volumes bunkered would have generated FuelEU compliance surpluses that can then be sold on to vessels that do not have LNG-capable engines. This would then potentially dampen FuelEU-driven demand from those vessels for marine biodiesel blends, and many shipowners did opt to buy surpluses to meet FuelEU requirements.

But this dynamic may soon change because of the US-Iran war, where the FuelEU used cooking oil methyl ester (Ucome)–MGO abatement ex-emissions trading system (ETS) price was negative on 7 April. It has since returned to positive levels, marked at €61.45/tCO2e on 15 April. But this remains significantly below FuelEU compliance surplus levels, with offers seen at €175-210/tCO2e, meaning it is currently cheaper to generate compliance using marine biodiesel blends than to buy surpluses to meet the FuelEU requirements.

By Hussein Al-Khalisy

Rotterdam bunker sales					t
Fuel	1Q 2026	4Q 2025	Q1 2025	q-o-q %	y-o-y %
ULSFO	162,142	219,039	187,031	-26	-13
VLSFO	439,804	745,786	789,218	-41	-44
HSFO	619,010	804,962	829,197	-23	-25
MGO/MDO	360,517	402,781	393,071	-10	-8
Conventional total	1,581,473	2,172,568	2,198,517	-27	-28
Biofuel blends	104,630	161,934	104,037	-35	1
LNG (m3)	267,454	192,433	261,200	39	2
Bio-LNG (m3)	15,260	11,932	na	28	na
Biomethanol	996	na	5,490	na	-82
Port of Rotterdam

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26/04/16

ARA jet fuel stocks at six-year low: Insights Global

London, 16 April (Argus) — Jet fuel stocks in independently held storage at the Amsterdam-Rotterdam-Antwerp (ARA) hub fell to their lowest level in more than six years in the week to 15 April, while naphtha inventories dropped to a one-year low, consultancy Insights Global said. Jet fuel stocks fell for a second consecutive week, down by 7.6pc to around 600,000t — the lowest level since April 2020. Independently held inventories had already been declining from late January, before jet fuel flows from the Mideast Gulf were disrupted by the US-Iran war. US jet fuel flows have since been diverted towards the UK, as the country seeks to build stocks ahead of peak summer airline demand. The UK also imported jet fuel from the ARA hub during the week, further tightening regional availability. Independently held gasoline stocks rose by 2.5pc on the week to 1.04mn t. Seasonally weak inland demand and lower pull from west Africa allowed refinery output in ARA to accumulate in storage, Insights Global said. The consultancy also noted weaker blending interest, potentially reflecting an oversupplied European gasoline market, in line with market feedback. Naphtha stocks fell sharply, down by 13.9pc to about 430,000t, their lowest level in a year. Cargoes that would typically supply Europe from Algeria and the US were instead diverted to Asia-Pacific, where buyers were willing to pay higher prices, Insights Global said. By Leon Wheeler Independent ARA stocks on 15 April 2026 000t Stocks ± week-on-week ±% week-on-week Gasoil 1,950 -142 -6.8 Fuel oil 702 37 5.6 Gasoline 1,039 25 2.5 Naphtha 429 -69 -13.9 Jet 597 -49 -7.6 Total 4,717 -198 -4.0 — Insights Global Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

Rotterdam 1Q bunker sales fall sharply

26/04/16

Rotterdam 1Q bunker sales fall sharply

London, 16 April (Argus) — Demand for conventional marine fuels in Rotterdam fell by 28pc on the year in the first quarter of 2026, after the Netherlands implemented the EU's revised Renewable Energy Directive (RED III) at its ports. The decline also reflects disruption linked to the US-Iran war. Market participants reported a drop in Rotterdam bunker demand even before the war, as some shipowners shifted fuelling to neighbouring ports to avoid price premiums created by the Netherlands' unilateral transposition of RED III marine mandates from 1 January. Sales of very-low sulphur fuel oil (VLSFO) fell most sharply, down by 44pc from a year earlier to about 440,000t in the first quarter. High-sulphur fuel oil (HSFO) volumes dropped by 25pc to about 619,000t, while ultra-low sulphur fuel oil (ULSFO) sales fell by 13pc. Marine gasoil (MGO) and marine diesel oil (MDO) demand declined by 8pc on the year to around 361,000t. Some shipowners instead opted to bunker in neighbouring Antwerp, which forms part of the ARA hub and offers lower conventional bunker prices without requiring route changes. Others prioritised bunkering at Gothenburg in Sweden or ports in Germany, market participants said. Price differentials supported the shift. Between early February and the end of March, MGO dob Rotterdam prices averaged $12.75/t higher than the Antwerp equivalent, while VLSFO dob Rotterdam held an average premium of roughly $14.50/t over the same period. Tighter global supply has added further pressure. The effective closure of the strait of Hormuz sharply reduced bunker availability in Singapore, increasing competition for VLSFO and MGO cargoes that would otherwise be exported to the ARA hub. After the start of the US-Iran war, Rotterdam MGO prices rose by 75pc to an average of about $1,186/t in March, while VLSFO prices climbed by 57pc to an average of $710.50/t. By Gabriel Tassi Lara and Hussein Al-Khalisy Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

UK jet fuel supply OK for now, outlook uncertain

26/04/16

UK jet fuel supply OK for now, outlook uncertain

London, 16 April (Argus) — UK jet fuel supply is currently secure but visibility beyond the next few weeks is limited, industry participants said at the UK liquid fuels trade association conference in Liverpool on Thursday. The risk of jet fuel shortages across Europe has risen because of disruption to supplies from the Mideast Gulf linked to the US-Israel war with Iran. Stock, demand and trade patterns suggest the UK is particularly exposed to tighter availability. "We're buying jet fuel today, it's available on the market," said Simon Holt, managing director of emerging energy at refiner Phillips 66. "How that's going to change, I don't know. There is less coming out of the Middle East and something has got to give." Essar Energy Transition (EET) managing director Ruth Herbert echoed that view. "There are no problems today, you can buy it, and we have some foresight on that. What will become clear in the next cycle is maybe six weeks away." Petroineos head of inland trading David Wilson indicated a similar outlook. Phillips 66 operates the UK's 230,000 b/d Killingholme refinery, while EET runs the 195,000 b/d Stanlow plant. Petroineos closed its Grangemouth refinery in Scotland last year and has repurposed the site as an import and distribution terminal. The IEA said earlier this week that European markets will need to work harder to attract more replacement jet fuel cargoes from outside the Mideast Gulf. If the region is unable to secure more than 50pc of its lost Middle East volumes, then stocks may fall low enough to cause physical shortages at some airports by June, it said. Last week, EU airports association ACI Europe warned that the EU could experience jet fuel shortages in just three weeks if Middle East flows through the strait of Hormuz do not resume "in any significant and stable way". By Josh Michalowski Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

Multi-fuel most sustainable future for bunkers: Panel

26/04/16

Multi-fuel most sustainable future for bunkers: Panel

Singapore, 16 April (Argus) — Ensuring availability of bunkering options for multiple fuels at key ports is the most viable approach to supporting an energy transition in the shipping industry and the establishment of green shipping corridors between key ports, said participants at the Argus Green Marine Fuels conference in Singapore. The US/Israel-Iran war and the subsequent disruptions to conventional bunker fuel supplies from the Middle East has shown that availability of a wider range of fuels will make shipowners less likely to be caught out by supply disruptions, especially for fossil fuels. The port of Rotterdam is preparing for a multi-fuel future like Singapore, said the port's program manager for sustainable transport Naomi van den Berg. "We see it has having a large part to play in moving towards a sustainable fuels future," she said. But infrastructure at ports must be available to support distribution of alternative fuels such as LNG, methanol and ammonia. Ports in Hong Kong are looking to mainland China for support in supplying alternative fuels, said Amy Chan, deputy secretary for transport and logistics for the Hong Kong Special Administrative Region government. Hong Kong is set to announce a partner for its own shipping green corridor later this year, Chan said. LNG remains by far the fuel of choice, based on order books for vessels . But most shipowners are still opting for dual use or considering triple-use engines to ensure they have the flexibility to refuel at ports that offer the best value fuel. The choice of LNG also means shipowners have the option to switch to bio-LNG. Availability of fuels and pricing remain key concerns, particularly in a challenging market, said Rohit Radhakrishnan, chair of the marine fuels committee in the Singapore Shipping Association. Investment in infrastructure is key to ensuring progress and while there are some existing facilities to support the transition to a multi-fuel future, there are still not sufficient infrastructure to fulfill the shipping industry's needs, said conference participants. By Siew Hua Seah Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

Australia’s Geelong refinery fire extinguished: Update

26/04/16

Australia’s Geelong refinery fire extinguished: Update

Adds fire extinguished status, cause of incident and impact on operations. Sydney, 16 April (Argus) — A fire that broke out at Viva Energy's 120,000 b/d Geelong refinery in Victoria, Australia on 15 April has been extinguished, Fire Rescue Victoria (FRV) said at 12:04 AEST (02:04 GMT) today. The incident was first reported at 23:07 local time, on 15 April with onlookers describing explosions and flames. The fire was contained within the motor gasoline plant area and involved liquid fuels and gases, FRV said at 4:58am. The fire was caused by equipment failure, FRV deputy commissioner Michelle Cowling said. "The facility remains running, on reduced production rates... the impacts will be predominantly to the production of gasoline and aviation gasoline," Viva said. "There is no immediate impact to fuel supply" and it expects to "replace any lost production through its fuel import program." A customer of the refinery said Viva had communicated that the fire was isolated to a small area within the motor spirits section and was believed to have been caused by a ruptured pipe. All diesel has been lifted from the Newport terminal, with deliveries continuing on schedule, the customer added. The 111,402dwt Bluefin Pearl , carrying 447,300 bl of crude from South Australia's Cooper basin, arrived off Geelong just hours before the fire started. The shipment was brought forward and split into separate parcels , enabling earlier delivery of part of the volume late last month. Viva said there is no immediate impact on fuel supplies, according to FRV. The refinery supplies about 10pc of Australia's fuel and is the larger of the country's two remaining refineries, alongside Ampol's 109,000 b/d Lytton site in Queensland state, following a series of closures since 2009. Geelong is Australia's only producer of jet fuel, aviation gasoline and bitumen, making it increasingly critical to national fuel security since the outbreak of the US Iran war in late February. Viva produced 99,000 b/d at Geelong last year and will run the refinery until at least 30 June 2030 under a fresh subsidy deal, struck with the federal government last month. Australia has 23mn litres of aviation gasoline used in small aircrafts in storage, energy minister Chris Bowen said. This equates to around 116 days of consumption. Viva said it expects to offset any production losses through imports . Petrol production is likely to be affected in the near term, Bowen said at a press conference today. This follows additional imports secured earlier this week, with the government confirming it had purchased 570,000 bl of gasoil under Australia's new strategic reserve framework. The energy ministers meeting with state, territory and New Zealand counterparts would be held next week as planned, Bowen said. National Cabinet meeting could be convened if conditions deteriorate, but Australia's fuel supply remained stable despite the refinery fire, he added. Trading in Viva Energy securities was halted on 16 April, with normal trading expected to resume by 20 April at the latest. By Tom Major, Tom Woodlock and Lawrence Wen Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

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Rotterdam biomarine sales fall in 1Q

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