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Alternative marine fuels
Overview
The marine fuel sector is decarbonising. International Maritime Organization (IMO) requirements and EU legislation is driving this change alongside consumer demand for low carbon solutions.
These drivers have prompted shipowners to invest in alternative marine fuels including; marine biodiesel, bio-methanol, grey methanol, LNG, ammonia and hydrogen.
Argus provides pricing, insights, and intelligence for the fast-growing alternative marine fuels market with independent news, analysis, and market commentary on emerging changes and trends so you can stay ahead.
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Argus Market Highlights: Marine Fuels
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Canaries' bio-marine fuel demand hit by ETS exemptions
Canaries' bio-marine fuel demand hit by ETS exemptions
London, 28 June (Argus) — Spanish energy firm Cepsa has delayed plans to supply marine biodiesel blends in the Canary Islands as increased demand for conventional bunker fuels and EU regulatory exemptions weigh on market fundamentals for the blended products. Cepsa's international marine fuels sales manager, Francisco Diaz Castro, told attendees at the Maritime Week Las Palmas conference last week that the firm remains committed to supplying marine biodiesel in the Canary Islands but is delaying it in response to a sharp rise in conventional bunker fuel demand in recent months, underpinned by vessels re-routing around the southern tip of Africa to avoid the risk of Houthi attacks in in the Red Sea. Vessels have been stocking up on bunker fuels before and after sailing around Africa's Cape of Good Hope to avoid stopping along the way. Latest data from the Spanish transport ministry show sales of conventional bunker fuel out of the Canary Islands last month increased by 3pc compared with April and by 41pc on the may last year (see table) . This demand growth has pushed suppliers to retain barge availability for conventional bunker fuels, reducing capacity to supply marine biodiesel blends. Market participants told Argus that another reason marine biodiesel demand in the Canary Islands has not picked up is EU regulatory exemptions for vessels sailing between the islands and mainland Spain. According to article 12 (3b) of the EU's Emissions Trading System (ETS) directive, "an obligation to surrender allowances shall not arise in respect of emissions released until 31 December 2030 from voyages between a port located in an outermost region of a member state and a port located in the same member state, including voyages between ports within an outermost region and voyages between ports in the outermost regions of the same member state, and from the activities, within a port, of such ships in relation to such voyages." Argus understands that this exemption applies to all vessels covered under the scope of the EU ETS, but would not apply if the vessel is sailing from an outermost region, such as the Canary Islands, to a different EU member nation, for example the Netherlands. A similar exemption for FuelEU Maritime regulations may be applicable as well, subject to member states asking for the exemption of the specific ports and routes for the vessels. Such an exemption could apply until 2029. Argus understands that requests from member states for this exemption will be published in the coming months. An exemption from FuelEU Maritime regulations could also be applied to routes connecting islands with a population under 200,000 people. This specific exemption would therefore not apply to Tenerife and Gran Canaria but may apply to other parts of the Canary Islands with smaller populations. By Hussein Al-Khalisy and Dafydd ab Iago Canary Islands liquid bunker sales t Month Las Palmas Tenerife Total Sales % m-o-m % y-o-y May-24 282,447 49,749 332,196 3 41 Apr-24 255,262 68,782 324,044 27 38 Mar-24 189,868 64,654 254,522 0 3 Feb-24 207,564 47,344 254,908 -6 0 Jan-24 219,962 51,894 271,856 16 27 Dec-23 187,889 47,306 235,195 4 1 Nov-23 181,218 45,940 227,158 5 -2 Spanish Transport Ministry Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Oman's Sohar port starts B20 biofuel bunker trials
Oman's Sohar port starts B20 biofuel bunker trials
Dubai, 4 June (Argus) — Oman's port of Sohar has received the first shipment of biofuel to begin its pilot trial in marine tug operations, according to state news agency ONA. The trial will use B20, which typically is a blend of 80pc diesel and 20pc used cooking methyl ester (Ucome), sourced locally. Biodiesel is viewed as a more environmentally friendly alternative to marine fuels, such as low- and high-sulphur fuel oils. The port will conduct the trials in collaboration with tugboat operator Svitzer, biofuel producer Wakud and Omani bunker provider Hormuz Marine. Oman has committed to reach net zero carbon emissions by 2050. "The use of biofuels will significantly contribute to reducing the level of harmful emissions," port chief executive Emile Hoogsteden said. "The project would set an example to be emulated in the region and beyond." Several companies have expressed interest in increasing usage of biofuels as pressure mounts on the shipping industry to reduce emissions. The UAE's port of Fujairah received its first biofuel bunker cargoes in December 2023. Oman has been taking steps to develop its conventional and alternative bunkering infrastructure in recent years in an effort to become a serious competitor to the region's main marine fuels hubs, like Fujairah. In April, TotalEnergies took a final investment decision (FID) for the integrated Marsa LNG bunkering project it is carrying out with state-owned OQ. The company said it wants the project to serve as the first LNG bunkering hub in the Mideast Gulf, "showcasing an available and competitive alternative marine fuel" to reduce shipping emissions. By Rithika Krishna Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
ISO publishes new marine fuel specification
ISO publishes new marine fuel specification
London, 30 May (Argus) — The International Organisation for Standardization (ISO) published its new marine fuel specification standard today. The 7th edition of the specification standard, ISO 8217:2024, will replace its predecessor, ISO 8217:2017, which has now been withdrawn. The document encompasses seven categories for distillate fuels, four categories for residual fuels at or below 0.5pc sulphur content, five categories for residual fuels blended with fatty acid methyl ester (Fame) biodiesel and five categories for residual fuels above 0.5pc sulphur. Some of the changes had previously been discussed and are confirmed. These include the removal of the previous 7pc Fame limit when blended with distillate marine fuels. This is now possible up to 100pc. The distinction between winter and summer quality for cloud point and cold filter plugging point (CFPP) has also been removed. And there is now a requirement to report the net heat of combustion for a distillate fuel grade as well as the requirement for a minimum cetane number and oxidation stability. By Hussein Al-Khalisy Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
ScanOcean to supply MGO-HVO blend in Sweden
ScanOcean to supply MGO-HVO blend in Sweden
London, 21 May (Argus) — Swedish bunker firm ScanOcean will supply a B30 marine biodiesel blend made of marine gasoil (MGO) and hydrotreated vegetable oil (HVO) by truck at all Swedish ports. The B30 blend will comprise 70pc MGO and 30pc HVO and meet ISO 8217:2017 MGO specifications, according to ScanOcean. The biofuel component will not contain any fatty acid methyl ester (Fame) and the blend will reportedly be accompanied by ISCC-EU certification and a proof of sustainability (PoS) document. ScanOcean added that they will supply the physical blend but that the HVO component will be sourced from the EU. The B30 blend will achieve a 25pc reduction of CO2 emissions on a well-to-wake basis when compared with conventional MGO, according to the Swedish supplier. By Hussein Al-Khalisy Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Spotlight content
Impact of EU ETS in 2024 and IMO’s emissions strategy
From 2024, ship owners will be required to pay for 40pc of their CO2 emissions under the EU Emission Trading Scheme (EU ETS) when operating in EU territorial waters. Meanwhile, the IMO has revised its greenhouse gas (GHG) emissions strategy. How will these regulatory developments impact fuel choices for the maritime sector? This webinar will provide a price comparison of alternative and conventional marine fuels and discuss the most feasible options.
Insight papersMarine biodiesel demand to rise
As marine gasoil supply tightens and shipowners seek more sustainable options, marine biodiesel, a blend of Advanced Fame 0 and very low sulphur fuel oil (VLSFO), could provide a reasonably competitive, low sulphur and low carbon alternative. This white paper examines dynamics including demand and pricing for the fuel.
WebinarsAlternative marine fuel price competitiveness to 2025
Dive into the forecast for the marine fuels markets with this complimentary webinar from our consultant behind Argus Marine Fuels Outlook, Elena Domashenko.
Alternative marine fuels key prices
Argus Marine Fuels features a comprehensive range of alternative marine fuels prices (in $/t VLSFO, $/t HSFO, and $/t MGO equivalents and $/mn Btu).
Latest events
Global alternative fuels vessel databases
Argus Marine Fuels includes access to proprietary data in three downloadable databases, providing essential insights into the changing marine fuels market:
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Spot deals and firm quotes
This list of spot deals gives buyers and sellers understanding where they stand price-wise compared with their competitors. Argus’ daily deals/quotes detail the port, type of fuel, size of the deal, price, delivery method and delivery dates. It does not include counterparties’ names.
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Alternative fuels vessels and supplier list
Argus lists vessels that are burning alternative marine fuels, including methanol, biofuels, ammonia, hydrogen, LNG, LPG, as well as those running on batteries. The database is updated every month.
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Scrubbers
The database is updated every month. It contains over 4,300 records and counting.
View sample dataExplore our related services
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