Marine fuels
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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.
Scrubber spread narrowest in 7 months on strong HSFO
Scrubber spread narrowest in 7 months on strong HSFO
London, 2 May (Argus) — Wholesale scrubber spreads in northwest Europe moved to their narrowest point in nearly seven months on Wednesday, on growing demand for high-sulphur fuel oil (HSFO) compared with sweeter bunker fuels. Fob very-low sulphur fuel oil (VLSFO) barge prices were assessed at an $82.50/t premium to those of HSFO barges in northwest Europe on Wednesday, their weakest since 10 October, when scrubber spread assessments hit $82.25/t. Growing demand for higher sulphur bunkers since the beginning of the year has supported prices. Quarterly bunker sales data released by the port of Rotterdam at the end of April , showed that total HSFO bunker sales were higher than those for VLSFO for the first time in at least three years. Some 820,000t of HSFO changed hands, the most HSFO sold in the first quarter since at least 2021. This compares with 680,000t of VLSFO, the smallest volume in any quarter at the port between 2021-2024. This shift in buying activity means wholesale prices of higher-sulphur residual product have strengthened faster than those of lower-sulphur ones so far this year. Fob HSFO barge prices grew by 14pc, to $472/t, between 29 December and 1 May. VLSFO prices on the other hand have risen by only 6pc over the same period to $554.50/t. Higher demand for HSFO has been linked to vessels opting to make diversions around the Cape of Good Hope in the wake of attacks by Houthi rebels in the Red Sea. Longer routes made by often larger vessels such as container ships, which are more likely to have a sulphur-scrubber installed, has led to increasing demand for cheaper, higher sulphur fuel. Market participants have previously said that VLSFO needs to maintain a premium of at least $100/t to make the economics of installing a scrubber on a vessel viable. Fast-steaming, whereby ships sail faster and burn larger quantities of fuel, was also carried out by ships avoiding the Red Sea in order that they adhere to delivery schedules in Eastern ports despite travelling a longer distance. By Bob Wigin Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
HSFO demand supports Rotterdam 1Q bunker sales
HSFO demand supports Rotterdam 1Q bunker sales
London, 30 April (Argus) — Total sales of fossil bunker fuels and marine biodiesel blends at the port of Rotterdam were 2.45mn t in the first quarter this year, up by 13pc compared with the final three months of 2023 but 9pc lower year on year, according to official port data. Sales firmed across the board quarter on quarter, even though market participants had described spot bunker fuel demand in the region as "mostly limited" and shipping demand as lacklustre. High-sulphur fuel oil (HSFO) sales rose the most. Disruption in the Red Sea resulted in many vessels re-routing around the southern tip of Africa, increasing the incentive of bunkering with HSFO as opposed to very low-sulphur fuel oil (VLSFO) and marine gasoil (MGO), according to market participants. The longer journeys meant that vessels on the route increased their fuel consumption to reduce delivery delays, supporting conventional bunker fuel sales at Rotterdam. Higher prices for HSFO in Singapore also helped support HSFO demand in Rotterdam. Marine biodiesel sales at Rotterdam increased by 13pc on the quarter and by 76pc on the year in January-March, despite the Dutch government's decision to half the Dutch renewable tickets (HBE-G) multiplier for shipping at the turn of the year. The move has led to a substantial increase in prices for advanced fatty acid methyl ester (Fame) 0 blends in the Amsterdam-Rotterdam-Antwerp (ARA) hub. The inclusion of shipping in the EU's Emissions Trading System (ETS) from January may have lent support to demand for biofuel blends. Marine biodiesel made up 11pc of total bunker fuel sales at Rotterdam in the first quarter, the same share as the previous quarter, which was a record high. LNG bunker sales at Rotterdam in January-March soared by 45pc on the quarter and by 150pc on the year. By Hussein Al-Khalisy Rotterdam bunker sales t Fuel 1Q24 4Q23 1Q23 q-o-q% y-o-y% VLSFO & ULSFO 857,579 847,862 1,205,288 1 -29 HSFO 818,028 643,218 809,871 27 1 MGO/MDO 383,409 361,585 468,373 6 -18 Biofuel blends 262,634 233,108 149,206 13 76 Total 2,453,610 2,177,078 2,685,515 13 -9 LNG (m³) 131,960 91,305 52,777 45 150 Port of Rotterdam Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
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