Marine fuel global weekly market update

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

2 June Q&A: Brazilian ethanol output may boost low-cost H2 Brazil's mines and energy ministry MME has reaffirmed its commitment to establish a legal framework for hydrogen production, which so far has just totatled about…

1 June Shell urges more action to decarbonize shipping sector Shipping volumes and CO2 emissions both ended 2021 up by 6pc from when Shell published its initial shipping decarbonization report in...

1 June Danish supplier takes on methanol-ready bunker tanker Danish marine fuel supplier Bunker One said it is ready to supply methanol as an alternative bunker fuel to ships calling at the Scandinavian ports ...

1 June Braya's biofuel refinery gets C$86mn boost from feds The 130,000 b/d refinery in Come-by-Chance, Newfoundland and Labrador is getting up to a ...

1 June EU biofuel sector calls for measures on Chinese exports European waste-based and advanced biofuels association Ewaba is calling on the EU to introduce "bold measures" on products certification, as stronger ...

1 June Eni to supply Azimut Benetti Group with HVO Eni Sustainable Mobility said its HVO fuel can reduce emissions by up to 90pc compared with conventional fossil-based bunker fuels.

1 June Indonesia cuts 1H June palm export taxes, levies Indonesia has decreased export duties and levies on palm oil products for the first half of June, after the crude palm oil (CPO) reference price ...

1 June Shipowner TCT to buy methanol vessels Dutch shipowner Tune Chemical Tankers (TCT) has placed an order with Turkish shipbuilder Tersan Shipyard to buy up to four methanol-powered vessels.

31 May Total, Belgium's TES plan $2bn e-methane plant in US TotalEnergies and Belgian start-up Tree Energy Solutions (TES) are considering a US production plant to make synthetic methane by combining ...

31 May Container ship LNG bunkering to rise: MSI LNG as a bunker fuel will likely sell at about 40pc discount to very low-sulphur fuel oil (VLSFO) in 2024, according to ...

31 May Trade body presents guide to methanol as bunker fuel Methanol retains a higher energy density compared with other alternative marine fuels such as LNG and ammonia, making it a more…

31 May Grieg Maritime buys ammonia-ready vessels The ships will be able to run on conventional bunker fuels, but will have the flexibility to run on the alternative marine fuel, when it becomes ...

31 May Transatlantic Capesize rates drop 19pc today "Ultimately in the shipping market, everyone is a price taker, and therefore you just have to fix at the best rate in front of you," Grimes said.

30 May Western Canada could export low-c ammonia to Japan Canadian midstream operator Pembina agreed with Japanese trading firm Marubeni to export low-carbon ammonia from a ...

30 May Ocean Yield to acquire ammonia-ready bulk carriers Norway-based vessel owner Ocean Yield will acquire eight or nine ammonia-ready ...

30 May Neste uses co-processed fuel in HVO tanker shipments Finnish biofuel producer Neste has started fuelling tankers Suula and Kiisla with co-processed marine fuel to ...

30 May Brazil's Acelen eyes HVO, SAF export market Abu Dhabi state-owned Acelen, which owns Brazil's largest privately-owned oil refinery, plans to build a biorefinery in Bahia state that will produce hydrotreated vegetable oil (HVO) and ...

29 May China Merchants orders more LNG carriers Chinese shipowner China Merchant Energy Shipping (CMES) has ordered two LNG carriers from state-owned shipbuilder China State Shipbuilding's (CSSC) Dalian shipyard.

Conventional marine fuels

2 June Tight market supports HSFO margins in Europe Options for replacing fuel oil imports from Russia are limited at present, tightening supply, writes Hussein al-Khalisy London, 2 June (Argus) — High-sulphur fuel oil (HSFO) margins in northwest Europe are strengthening on ...

2 June Oversupply pressures Mideast Gulf gasoil Middle distillates are piling up in the Mideast Gulf as a stream of diverted Russian exports meets output from new refineries, depressing spot market values.

1 June USGC fuel oil stocks surge in May While the EIA does not cite grade, market participants had cited increased availabilities of both low-sulphur and high-sulphur fuel oil, as ...

1 June Pakistan's PRL offers rare fuel oil on lean demand Pakistan's state-owned marketer PSO, a major fuel oil importer, has also not bought any cargoes since October last year as ...

31 May Uniper exits UAE marine fuel trading business Uniper's 67,000 b/d Fujairah refinery was sold to a consortium comprising global trading firm Montfort, a major supplier of bunker-grade…

31 May Minerva supplies bunker fuels in Egypt Marine fuel supplier Minerva Bunkering has started bunker deliveries in Egypt, with 10 vessels already refuelled.

31 May Chinese oil stocks swell as exports slow Net fuel oil imports trebled from March to 300,000 b/d last month, as ...

31 May Stocks draw as diesel demand rises Chinese diesel stocks are finally starting to drop as ...

31 May Political uncertainty hits Ecuador transmission tender These fields largely use diesel and fuel oil to generate electricity.

31 May Japan temporarily shuts 1mn b/d refining capacity Lower runs also weighed on Eneos and Cosmo's profits ...

30 May Japan's bioethanol imports remain low Japan has reduced its bioethanol purchases this year, with ...

30 May Russian 1Q bunker sales up 21pc Bunker sales at the Russian Arctic Sea ports were up 13pc at ...

30 May Low Australian LR2 prices subdue SE Asian Aframax rates The lower bunker prices would save shipowners about $9,500 on their ballasting costs.

30 May Tsakos' 1Q profit grows on doubled rates Greece-based shipowner Tsakos Energy Navigation's earnings for its fleet more than ...

29 May Singapore's fuel oil tightness to ease slightly in June Singapore's average fuel oil inventories in May have fallen to multi-year lows on ...