バンカー燃料
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新規制の導入により、船舶用燃料市場が根本的に変化してきています。市場動向を反映する信頼できるインサイトとデータへのアクセスがこれまで以上に重要となっています。
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アーガスは船舶用燃料の国際市場を網羅しており、市場主導の価格評価、需給データ、価格予測、フォワードカーブ価格をお届けします。最新ニュース、市場解説、市場エキスパートによる詳細な分析・見識を、お客様のニーズに最適な代替船舶燃料の決定にお役立てください。
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B24 bunker demand in Asia, Middle East to rise in 2025
B24 bunker demand in Asia, Middle East to rise in 2025
Singapore, 25 October (Argus) — B24 bunker demand in the key ports of Singapore, Zhoushan and Fujairah will likely rise in 2025, because of increased demand ahead of the implementation of the EU's FuelEU maritime regulation. Regional demand for B24 — which consists of 24pc used cooking oil methy ester (Ucome) and 76pc very low sulphur fuel oil (VLSFO) — is expected to rise as shipowners prepare to meet more stringent mandates set by the EU and the International Maritime Organisation (IMO) from next year, said market participants. FuelEU Maritime aims to raise the share of renewable and low-carbon fuels in the fuel mix of maritime transport within the EU, and will set requirements for greenhouse gas emission reductions against a 2020 baseline level, starting with 2pc in 2025. The use of B24 is a relatively low-cost way to help meet the new mandate and is available at key ports globally. Competition for B24 is rising in Asia and the Middle East as port authorities revisit local rules and permits. The Zhoushan Port Authority will obtain the domestic blend permit by the end of the year, it said recently at a local conference,which will pave the way for key local refiners to blend and sell B24 to local and international shipowners. The quota is likely to be divided among Chinese majors like PetroChina (CNPC), Sinopec, and CNOOC. The port authorities further mentioned that CNPC and Sinopec are expected to each receive a blending quota of 200,000t of B24, while CNOOC will receive a blend quota of 100,000t in 2025. There were no further details available or any other formal announcement. But regional traders and shipowners, which have been waiting for the lifting of restrictions by the Chinese government, expect the move will allow shipowners more options to bunker B24 in this region. European market participants expect this B24 blending permit, if allocated, may pull some marine biodiesel demand towards Zhoushan and away from shipowners operating on east-west routes between Singapore and Europe.B24 blends in Zhoushan could end up pricing very competitively against VLSFO when EU emission trading system (ETS) costs are accounted for, given easing prices for Chinese-origin biodiesel, participants added. And FuelEU Maritime's pooling mechanism, which allows shipowners to pool different vessels together to achieve overall compliance across the pool, will enable shipowners that operate east-west routes to pool those vessels with other vessels that operate only within the EU — opening the door for marine biodiesel bunkered in Zhoushan to help meet FuelEU compliance. Singapore B24 consumption has been on the rise in Singapore, the world's largest bunkering hub, through 2024 because of demand from regional and international shipowners for refuelling of this blended marine fuels. B24 consumption touched 470,300t between January to September, according to data from the Maritime and Port Authority of Singapore (MPA). Demand for B24 is expected to near 800,000t by the end of 2024, up from 518,000t in 2023. Zhoushan remains competitively priced versus Singapore for VLSFO, with Singapore's delivered on board (dob) prices for the past year showing a $3/t premium versus Zhoushan on average, based on Argus data. But Singapore-based traders remain confident that the city-state will continue to lead the region in terms of B24 bunkering demand into 2025. "I think both ports will co-exist and there will be price competition…also it doesn't replace Singapore as the main port, do note," said a key global trader and refiner. Singapore is also the cheapest in terms of B24 pricing, compared with other key ports like Rotterdam and Fujairah. The spread between Singapore versus Rotterdam since 24 April shows a $94/t discount for bunkering in the former port, while the discount for Singapore with Fujairah stood at an average of $39.4/t, based on Argus data. Middle East Bunkering B24 has been picking up in the Middle East since the end of 2023, with sporadic demand trickling in this year. "We receive enquiries for B24 once or twice a month, sometimes even less than that for small volumes of 150-200t," one Fujairah-based trader said. But this could change following the implementation of the EU's FuelEU Maritime regulation from January 2025 . The EU is an important market and a regular destination for much of the maritime traffic passing through Fujairah, so the new regulations are likely to be a trigger for change, market participants said. "Many vessels refuel in Fujairah before calling at EU ports," one trader says. "They already have to comply with the EU ETS, [Carbon Intensity Index], and will need to also comply with FuelEU." By Mahua Chakravarty, Hussein Al-Khalisy and Elshan Aliyev Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
MOH bitumen flows little impacted by refinery CDU halt
MOH bitumen flows little impacted by refinery CDU halt
London, 22 October (Argus) — A steady stream of bitumen export cargoes and truck supplies into inland markets have continued from Motor Oil Hellas' (MOH) 180,000 b/d Agioi Theodoroi refinery and terminal at Corinth despite the shut down of a crude distillation unit. The refinery was hit by a fire on 17 September which MOH said caused "damage" and injured three sub-contractors, adding that the refinery was running at a "lower capacity level" as a result. MOH has since remained tight-lipped about the operational status of the facility, although one of its crude distillation units (CDU) was shut as a result of the fire, and remains down, illustrated by considerably reduced crude deliveries . Bitumen trading, supply and buying firms on cargo and truck markets said the CDU halt, which they estimate could last 3-6 months, had caused no significant bitumen loading or supply issues, with production not as badly affected as for other products, most notably high-sulphur fuel oil (HSFO). The outage helped drive refining differentials for Rotterdam HSFO barges against front-month Ice Brent crude futures from their usual discounts to a premium for the first time since August 2023 . Bitumen market participants also pointed to weaker than expected demand in key export markets including Romania and much of north and central Europe ahead of the usual winter activity slowdown — along with the continued rainy season slowdown in west African road project activity and bitumen demand — as contributing to keeping bitumen cargo values down. A sustained flow of typically 4,000t bitumen cargoes exported by Greece's other refinery bitumen producer, Helleniq Energy, under tenders and spot deals — with a fresh sell tender on 18 October for a 4-6 November cargo loading at its 137,000 b/d Aspropyrgos refinery — has added to east Mediterranean oversupply. Market participants said the most recent MOH cargo offers for standard Mediterranean cargo sizes around 5,000t have been at fob discounts of around $10/t to fob Mediterranean HSFO cargoes, while Helleniq exports are indicated at fob discounts of at least $15/t, with no sign of a boost to differentials following the fire. The latest bitumen cargo to load at Agioi Theodoroi is on the 5,897dwt Iver Accord , which today left the terminal for Djen Djen, Algeria. The 7,944dwt Lilstella , under time charter with an international trading firm, will make its second consecutive bitumen cargo loading at Corinth when it arrives on 24 October, with the first loading proceeding under the pre-agreed dates before being shipped to Mohammedia with the same loading schedule expected for the second. Another international trading firm moved an Agioi Theodoroi cargo to Mohammedia, arriving 19 October on the 8,021dwt Poestella , again with no loading issues indicated. The 4,531dwt Stella Maris moved a cargo from Corinth to a Thessaloniki storage facility — arriving 2 October — for onward truck shipment to inland export markets including Romania, where Greek product remains highly price competitive. The only loading issues reported occurred over the few days following the 17 September fire when a large cargo loaded at the MOH terminal on the 45,986dwt Rubis Asphalt bitumen tanker Bitu Atlantic was delayed and its volume lower than planned. That shipment was moved to Rubis' west African terminal hub at Lome, Togo. The Corinth refinery is one of Europe's leading bitumen producing and exporting plants, last year exporting around 1.1mn t, up from just over 800,000t in 2022. Helleniq Energy increased its Aspropyrgos cargo exports to around 100,000t last year from 70,000t in 2022. Six bitumen cargoes totalling around 24,000t will have loaded at Aspropyrgos in the month to 25 October. By Keyvan Hedvat Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
EPA grants $125mn for US zero-emission projects
EPA grants $125mn for US zero-emission projects
New York, 18 October (Argus) — The US Environmental Protection Agency (EPA) has awarded funding to 14 projects that will cut diesel emissions at ports across the country. The funding is part of a $125mn grant allocated to various projects in the US that aim to "incentivize and accelerate the upgrade or retirement of older diesel engines to cleaner and zero-emission solutions leading to significant emission reductions and air quality and public health benefits." The money is awarded under the EPA's Diesel Emissions Reduction Act (DERA) National Grants Program. About 70 projects in total were awarded under this initiative this year. Most of the money for ports was allocated to switching to zero-emission equipment at the facilities, including $4.5 mn to buy 22 zero-emission drayage trucks in California to replace the trucks that use diesel. A total of $2.5mn has been awarded to Broward County, Florida, in part, to install shoreside power at Port Everglades for ships to plug into a power source while they are docked at the facility. A Louisiana-based nonprofit, Louisiana Clean Fuels, will receive $1.8mn to retrofit zero-emission engines in eight tow boats. By Luis Gronda Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
UK to fund green shipping corridors
UK to fund green shipping corridors
Sao Paulo, 17 October (Argus) — The UK will allocate funds for a green shipping corridor to be created between it and mainland Europe, along with £8mn ($10.42mn) to 30 projects to accelerate plans to make sea travel cleaner. A green corridor is a zero-emission maritime route between ports. The announced corridors will access destinations between the Port of Tyne (UK) to the Port of Ijmuiden (Netherlands) and the Port of Holyhead (UK) to the Port of Dublin (Ireland). UK maritime minister Mike Kane did not specify the timing of the corridor launch in his announcement of the program. The Department for Transport will also develop green shipping routes from the UK to Norway and Denmark, but it has yet to announce the organisations that will lead these corridors. The Ministry also announced up to £8mn that will be given to 30 projects across the UK to develop technologies to make sea travel cleaner, which includes autonomous systems, artificial intelligence, robotics, and sensors. "These new corridors could turbocharge the use of sustainable fuels, secure the green jobs of the future, and advance environmentally friendly travel to major European capitals like Amsterdam and Dublin", Kane said. The funding comes from the £206mn ($268mn) UK Shore program, launched in 2022 to tackle shipping emissions. By Natália Coelho Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
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