A weekly Argus news digest of interest to the conventional and alternative marine fuel markets. To speak to our team about accessing the stories below and access to Argus Marine Fuels, please contact marinefuels@argusmedia.com.
Alternative marine fuels
14 July IMO GHG decision a 'starting signal': Industry Participants in the maritime sector have welcomed the International Maritime Organisation's (IMO) revised greenhouse gas (GHG) strategy as a starting point, but nonetheless stressed the need for industry and governments to take proactive roles in enacting change following the decision.
14 July Shipper ZIM bets on LNG as transitional fuel Israel-based container shipping company ZIM is embracing LNG as a transitional fuel to reduce its greenhouse gas (GHG) emissions.
13 July Trinidad's April ammonia slips as methanol rises Trinidad and Tobago's ammonia production in April fell below that of a year earlier, while methanol output grew, according to data from the energy ministry.
13 July EU CO2 marine emissions rise in 2022 CO2 emissions from vessels traveling within the EU territorial waters rose by 1.5pc to 128.22mn metric tonnes (t) in 2022 compared with 2021. The increase reflected a 1.8pc rise in marine fuel consumption to 41.28mn t in 2022, the latest EU data showed.
12 July DB Schenker, Volvo Cars to use biodiesel in shipping German logistics company DB Schenker and Swedish automobile manufacturer Volvo Cars have agreed to ship automotive spare parts on vessels using biodiesel fuel.
12 July Spanish biodiesel demand crimped by lower diesel sales Spanish biodiesel demand declined in May compared with a year earlier, crimped by a continued fall in diesel consumption, according to the latest figures from state-owned strategic reserve Cores.
12 July John Stone offers renewable diesel in USGC Marine fuel supplier John W Stone Oil Distributor has begun offering renewable diesel for vessels in the US Gulf coast.
12 July ARA inland LNG bunker vessel launched The 8,000m³ Energy Stockholm inland LNG bunker barge was launched by Turkish shipbuilder RMK Marine on 8 July, with the vessel to be delivered to Shell in the fourth quarter of 2024.
12 July Indonesia's biodiesel exports fall in May Indonesia's May biodiesel exports plunged as investigations into alleged fraud regarding Chinese biodiesel persist.
12 July S Korea's Komac ammonia ship design gets ABS approval South Korean maritime engineering firm Korea Maritime Consultants (Komac) has received approval for its small-scale ammonia-fuelled container ship design from the American Bureau of Shipping (ABS).
11 July Finco given permit to supply biomethanol in Amsterdam FincoEnergies is the first marine fuels supplier to be given permission to provide biomethanol marine fuel at the port of Amsterdam, it said.
10 July Maersk to provide low-carbon transport for Norsk Hydro Danish shipping firm AP Moller Maersk will provide low-carbon transport for Norwegian aluminium and energy company Norsk Hydro's shipments.
11 July European Parliament adopts more green transition laws The European Parliament today adopted new laws for energy efficiency, reducing maritime fuel emissions and boosting alternative fuel infrastructure. EU ministers are expected to formally approve the texts, agreed with parliament, at the end of the summer.
11 July Biofuels take bite out of US west coast distillates Growing biofuels demand on the US west coast is helping to lower distillate fuel consumption in the region, even as conventional fuel consumption across the US rose to pre-pandemic levels, according to the Energy and Information Administration (EIA).
11 July EIA raises 2023 RD output, consumption outlooks for US The US Energy Information Administration (EIA) has increased its forecasts for domestic renewable diesel (RD) production and consumption this year.
Conventional marine fuels
Dubai, 14 July Mideast Gulf boosts Russian fuel oil imports in 1H Russian was the top supplier of high-sulphur (HSFO) and low-sulphur fuel oil (LSFO) fuel oil to the Mideast Gulf in the first half of the year, with 5.11mn t.
14 July Off-spec VLSFO came from Houston supplier: Sources Contaminated very low-sulphur fuel oil (VLSFO) discovered in Houston bunker markets this year may have been delivered by a Houston-based fuel supplier and trader.
14 July Panama June bunker sales drop 11pc Panama June bunker sales dropped by 11pc compared with the same period last year, potentially as a result of lower vessel traffic.
13 July Global bunkers sulphur content up: VeriFuel Marine fuel testing company VeriFuel's sulphur content of high-sulphur fuel oil (HSFO) and very low-sulphur fuel oil (VLSFO) increased in the second quarter compared with the same period last year.
13 July Suez clean rebates unlikely to hurt Panama traffic New Suez Canal transit rebates for petroleum products and chemicals shipments between the Americas and Asia may draw ships away from Cape of Good Hope routes but are unlikely to cut into Panama Canal transits.
13 July Germany's diesel imports could pick up in August German diesel imports are on course to remain sluggish this month as a result of low inland demand and unattractive margins. But a full turnaround at the 103,000 b/d Hamburg refinery starting next month could lead to higher diesel intake in August.
13 July Japan's bonded bunker sales continue to fall in May Japan's bonded marine sales declined for a second consecutive month in May, pressured by weaker demand from domestic shipowners and from the spot market.
13 July Singapore light distillates stocks keep falling Singapore light distillates inventories fell for the fifth consecutive week in the week ending 12 July, down by 3.2mn bl since the week ending 14 June.
13 July Singapore's VLSFO-HSFO bunker spread hits 15-month low The spread between very low-sulphur fuel oil (VLSFO) and high sulphur fuel oil (HSFO) bunker values has fallen to the lowest in the past 15 months, supported by steady HSFO 380cst values in this region.
12 July Oil-bulk-ore ship sends ULSD to Singapore in rare move Trading firm Trafigura booked the Balzani oil-bulk-ore (OBO) cargo vessel to ship ultra-low sulphur diesel (ULSD) from India's Sikka to Singapore, in a rare move.
12 July Scorpio sells 10-year-old MR tanker Strong activity in the secondhand tanker market continued today as shipowner Scorpio Tankers sold a 2013-built medium range (MR) clean products tanker for $32.5mn, dropping the number of MR tankers in its fleet to 59.
11 July Earliest Calcasieu Lake Charles restart mid-August Calcasieu Refining has pushed back the earliest expected restart of it's fire-damaged 135,000 b/d Lake Charles, Louisiana, refinery to mid-to-late August.
10 July SE Asian methanol demand to stay mostly weak in 3Q Southeast Asian methanol demand will likely stay mostly weak heading into the third quarter, because of lower demand from derivative markets.
10 July Saudi Arabia, India provide more diesel in west Balkans Saudi Arabia and India are providing a rising share of west Balkan diesel demand, in part to cover refinery outages in Italy and Greece. An influx of discounted Russian diesel east of Suez, enabling higher exports of domestic output, could enhance this trend.
11 July Petrobras hits record diesel, gasoline production Brazilian state-controlled Petrobras' diesel and gasoline output increased to record highs in June, alongside a rise in the utilization factor of the company's refineries.
