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.
Argus Market Highlights: Marine Fuels
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Cepsa supplies HVO bunker fuel in Algeciras
Cepsa supplies HVO bunker fuel in Algeciras
London, 24 April (Argus) — Spanish refiner and bunker fuel supplier Cepsa has recently delivered 150t of 100pc hydrotreated vegetable oil (HVO) by truck to the Ramform Hyperion at the port of Algeciras. The supply follows market participants reporting firmer buying interest for HVO as a marine fuel from ferry lines in the Mediterranean in recent sessions. The supplied HVO is said to be of class II, with used cooking oil (UCO) as the feedstock. Cepsa added that the supply was completed in cooperation with Bunker Holding subsidiary Glander International Bunkering, and could bring about a greenhouse gas (GHG) emissions reduction of up to 90pc compared with conventional fuel oil. Cepsa will also look to obtain capability to supply marine biodiesel blends exceeding 25pc biodiesel content by the end of the year, delegates heard at the International Bunker Conference (IBC) 2024 in Norway. This also follows plans by Cepsa to build a 500,000 t/yr HVO plant in Huelva , set to start production in the first half of 2026. Argus assessed the price of class II HVO on a fob Amsterdam-Rotterdam-Antwerp (ARA) basis at an average of $1,765.54/t in April so far, a premium of $906.41/t to marine gasoil (MGO) dob Algeciras prices in the same month. By Hussein Al-Khalisy Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Peninsula eyes B100 marine fuel supply in Barcelona
Peninsula eyes B100 marine fuel supply in Barcelona
London, 24 April (Argus) — Marine fuel supplier and trader Peninsula has added a chemical tanker to its fleet in Barcelona, with a view to supply the port with B100 marine biodiesel. Aalborg meets chemical tanker regulations under the International Maritime Organisation (IMO)'s International Convention for the Prevention of Pollution from Ships (MARPOL) Annex II. This means the tanker can supply marine biodiesel blends containing up to 100pc fatty acid methyl ester (Fame), which conventional oil tankers are unable to do . Oil tankers and barges are limited to up to 25pc Fame. Peninsula added that the Aalborg is also used to supply conventional fossil bunker fuels such as very-low sulphur fuel oil (VLSFO) and marine gasoil (MGO). It is yet to complete a B100 delivery in Barcelona. Market participants pointed to limited demand for B100 in the Mediterranean, but regulatory changes such as the introduction of FuelEU maritime next year may help to support demand for marine biodiesel blends. By Hussein Al-Khalisy Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
TUI Cruises receives methanol-ready ship
TUI Cruises receives methanol-ready ship
New York, 18 April (Argus) — Cruise ship company TUI Cruises took delivery of a methanol-ready cruise ship which will start operations at the end of June. Methanol-ready vessels allow ship owners to easily retrofit their vessels to burning methanol in the future. The 7,900t deadweight Mein Schiff 7 will operate in the North Sea, the Baltic Sea, along the European Atlantic coast and in the Mediterranean and run on marine gasoil (MGO). It was built by Finland's Meyer Turku shipyard. In January, TUI Cruises signed a memorandum of understanding with trading company Mabanaft for future supply of green methanol. Mabanaft would cover TUI's methanol needs in northern Germany, and gradually add other European locations. Grey methanol was pegged at $717/t MGO equivalent and biomethanol at $2,279/t MGOe average from 1-18 April in Amsterdam-Rotterdam-Antwerp. About 0.9 times and 2.9 times, respectively, the price of MGO, Argus assessments showed. TUI Cruises is a joint venture between the German tourism company TUI AG and US-based cruise ship company Royal Caribbean. By Stefka Wechsler Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
EPS to register six ammonia-powered newbuilds with SRS
EPS to register six ammonia-powered newbuilds with SRS
London, 17 April (Argus) — Shipping firm Eastern Pacific Shipping (EPS) will register six dual-fuel ammonia powered vessels, due to be delivered from 2026, with the Singapore Registry of Ships (SRS). The commitment is part of an initial agreement with Singapore's Maritime and Port Authority (MPA), vessel classification organisation American Bureau of Shipping (ABS) and Lloyd's Register. EPS said the collaboration with the MPA will extend to supporting crew and seafarer training on the vessels powered by "zero and near-zero emission fuels", in addition to pilot trials of these fuels, and building on the capacity and infrastructure required for ammonia bunkering. Argus assessed the price of green ammonia dob east Asia on a very-low sulphur fuel oil energy density equivalent (VLSFOe) at $2,608.90/t in March, a premium of over $1,975.08/t against VLSFO dob Singapore. Grey ammonia in east Asia was assessed at an average of $829.52/t VLSFOe across March, a premium of $195.70/t to VLSFO dob Singapore. 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:
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.
View sample dataAlternative 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.
View sample dataScrubbers
The database is updated every month. It contains over 4,300 records and counting.
View sample data