Marine fuels
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The introduction of new regulations has caused fundamental change across the marine fuel markets. Reliable insight and data reflecting the market direction are more pressing than ever.
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Latest marine fuels news
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Europe receives straight run fuel oil from Dangote
Europe receives straight run fuel oil from Dangote
London, 15 May (Argus) — A cargo of low-sulphur straight run fuel oil (LSSR) produced at Nigeria's 650,000 b/d Dangote refinery has been delivered to Europe for the first time. The 90,000t cargo was loaded at Dangote's terminal in Lekki on 25 April and discharged in Rotterdam on 13 May, according to data from trade analytics firm Kpler. The cargo will likely be used as a blendstock to produce very-low sulphur fuel oil (VLSFO), market participants said. Roughly 72pc of the fuel oil exported from Dangote has been delivered to the US since the refinery offered its first LSSR export tender in mid-February . A total of just under 620,000t has been delivered so far. Another LSSR shipment of 83,400t departed the refinery on 7 May, according to trade analytics firm Vortexa. It is scheduled to arrive in France on 22 May, but market participants say this is unlikely to be the cargo's final destination. LSSR price assessments on a fob Amsterdam-Rotterdam-Antwerp (ARA) basis have stayed at a $5/bl premium to front-month Ice Brent crude futures this week, narrowing from an 18-month high of $7.50/bl in mid-April . Maintenance work that began in the first quarter affected fluid catalytic cracking (FCC) units at some refineries. FCCs take LSSR and low-sulphur vacuum gasoil to increase gasoline yields. By Isabella Reimi and Bob Wigin Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Singapore’s bunker sales hit 10-month low in April
Singapore’s bunker sales hit 10-month low in April
Singapore, 15 May (Argus) — Singapore's April bunker sales fell to a 10-month low on weak very-low sulphur fuel oil (VLSFO) demand. But consumption of high-sulphur fuel oil (HSFO) and B24 biofuel bunkers remained firm. Singapore VLSFO bunker sales fell to at least a 15-month low of 2.25mn t in April, according to data from the Maritime and Port Authority of Singapore. This came because of slower demand as more buyers turned to lower-priced HSFO. Singapore HSFO sales accounted for a 42pc share of total fuel oil sales in April, up from a 31pc share a year earlier. Disruptions in the Red Sea led to increased fuel usage by ocean-going vessels with higher rates of scrubber technology adoption, raising demand for HSFO by a greater extent than for VLSFO. Consumption of bio-blended VLSFO, or B24, climbed by 61pc on the year because buying interest gained traction, but slipped by 10pc from strong consumption in March . LNG bunker sales rose by over sixfold on the year but edged down from a record high in March . By Cassia Teo and Asill Bardh Singapore bunker sales 000t Apr-24 m-o-m ± % y-o-y ± % Jan-Apr 2024 ± % Low-sulphur fuel oil (LSFO) 2,252 -6.9 -16 10,088 -2.2 Marine fuel oil (MFO) 1,600 0.0 31 6,466 32 Low-sulphur MGO (LSMGO) 277 -11.0 -11 1,201 -3.0 Bio-blended LSFO 60 -10.0 61 186 53 Liquified natural gas (LNG) 36 -7.9 582 111 N/A MGO 9.7 88.0 -37 43 -9.2 Marine diesel oil (MDO) 0.0 N/A N/A 0.0 N/A Bio-blended MDO 0.0 N/A N/A 0.0 N/A Bio-blended marine gasoil (MGO) 0.0 N/A N/A 0.0 N/A Bio-blended LSMGO 0.0 N/A N/A 0.0 N/A Bio-blended MFO 0.0 N/A -100 0.0 -100 Ultra low sulphur fuel oil (ULSFO) 0.0 N/A N/A 0.0 N/A Bio-blended ULSFO 0.0 N/A N/A 0.0 N/A Methanol 0.0 N/A N/A 0.0 N/A Total 4,235 -4.7 -0.6 18,096 8.9 Source: MPA Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Singapore's GCMD to test long-term biofuel shipping use
Singapore's GCMD to test long-term biofuel shipping use
Singapore, 9 May (Argus) — Singapore-based Global Centre for Maritime Decarbonisation (GCMD) and Japanese shipping firm NYK Line will trial the continuous use of a biofuel blend over six months. The study aims to evaluate the effects of the continuous use of B24 biofuel blend of 24pc fatty acid methyl ester (Fame) and 76pc of very low sulphur fuel oil (VLSFO) on a short-sea vehicle carrier that will call at multiple ports, allowing for the regular sampling and testing of fuels stored on the ship. Fame is a "promising" fuel alternative, the firms said, but added that there are concerns about the impact of its extended use on vessel operations. The study hence aims to study the long-term impact of biofuel usage on ship engine performance and fuel delivery system operations. It will also examine the total cost of ownership of using biofuel, including fuel costs and associated maintenance costs, as well as identify potential operating challenges and suggest mitigation strategies. B24 is the current blend of alternative marine fuel that is being used or trialled for bunkering at some key Asian ports like Singapore and Zhoushan. Its usage is expected to rise, especially because the industry is pushing for higher emission cuts from shipping. Participants in the shipping industry are exploring solutions to meet the International Maritime Organization's (IMO) net zero carbon emission target by 2050, with operational safety and costs surfacing as some of the key concerns of alternative fuel adoption . "This knowledge will empower stakeholders across the ecosystem, from shipowners and charterers to biofuels producers and regulators – to make more informed business and policy decisions," GCMD chief executive officer Lynn Loo said. "Ultimately, this pilot will lead to greater confidence for biofuels use at scale, accelerating progress towards decarbonising the maritime industry." Argus assessed B24 biofuel bunker prices at $744.25-759.25/t delivered on board (dob) Singapore on 8 May. By Cassia Teo Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Dutch FincoEnergies supplies B100 biodiesel to HAL
Dutch FincoEnergies supplies B100 biodiesel to HAL
London, 3 May (Argus) — Dutch supplier FincoEnergies has supplied shipowner Holland America Line (HAL)with B100 marine biodiesel at the port of Rotterdam for a pilot test. This follows a collaboration between HAL, FincoEnergies' subsidiary GoodFuels, and engine manufacturer Wartsila to trial blends of B30 and B100 marine biodiesel . HAL's vessel the Rotterdam bunkered with B100 on 27 April before embarking on a journey through the Norwegian heritage fjords to test the use of the biofuel. The vessel will utilise one of its four engines to combust B100, which will reportedly cut greenhouse gas (GHG) emissions by 86pc on a well-to-wake basis compared with conventional fossil fuel marine gasoil (MGO), according to GoodFuels. There is no engine or fuel structure modification required for the combustion of B100, confirmed HAL. The B100 marine biodiesel blend comprised of sustainable feedstock such as waste fats and oils. The firms did not disclose how much B100 was supplied, or whether this is the beginning of a longer-term supply agreement. Argus assessed the price of B100 advanced fatty acid methyl ester (Fame) 0°C cold filter plugging point dob ARA — a calculated price which includes a deduction of the value of Dutch HBE-G renewable fuel tickets — at an average of $1,177.32/t in April. This is a premium of $410.20/t to MGO dob ARA prices for the same month, which narrows to $321.68/t with the inclusion of EU emissions trading system (ETS) costs for the same time period. By Hussein Al-Khalisy Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
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