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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Our global coverage of marine fuels delivers market-driven price assessments, supply and demand data, price forecasts, and forward curve prices. Along with the latest news, market commentary, and in-depth analysis led by our market experts, our comprehensive insight helps your business decide on the best suited alternative marine fuel for your needs.
Latest marine fuels news
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Mediterranean to face dearth of VLSFO in April
Mediterranean to face dearth of VLSFO in April
London, 21 March (Argus) — Marine fuels suppliers in the Mediterranean region are looking to reduce their very-low sulphur fuel oil (VLSFO) inventories before an emissions control area (ECA) comes into force in May, with shortfalls predicted in April. Under new rules from the International Maritime Organisation (IMO), sulphur output limits on vessels transiting the Mediterranean sea will drop to 0.1pc from 0.5pc on 1 May, meaning only those with sulphur-scrubbers installed will be allowed to use fuels comprising more than 0.1pc sulphur, such as VLSFO. Market participants have said VLSFO supply could come under strain in April because the post-ECA demand drop-off will weigh on refinery margins, disincentivising refineries from raising output. Refining premiums for cif west Mediterranean VLSFO cargoes against front-month Ice Brent crude futures narrowed to a little over $9/bl on 20 March, from $13.50/bl in early February. Steady falls in VLSFO production heading into May could, paradoxically, cause margins to rebound in April as vessels leaving the Mediterranean look to buy left-over product, creating a run on availability. Refineries producing large amounts of VLSFO will begin to reduce production or switch to delivering to export markets, according to a trader. However, the global VLSFO pool supply remains ample. A recent influx of cargoes to Singapore, the world's largest bunkering hub, has come up against softening demand, weighing on worldwide values. Delivered VLSFO bunker prices at the city-state were assessed at $518.53/t on 27 February, a drop of nearly 10pc on the month and the lowest in three-and-a-half years. By Bob Wigin Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Green fuel supply needs a boost: Danish Shipping
Green fuel supply needs a boost: Danish Shipping
New York, 19 March (Argus) — Production of zero-emission fuels needs to be increased to a level which will lower the cost of buying the fuel and help accelerate the transition to green fuels, according to Danish Shipping in a new report. Consumption of zero-emissions fuels needs to reach 27pc of total energy consumption by 2036 and 93pc by 2046 to reach the maritime industry's goal of net-zero emissions by 2050, Danish Shipping, an industry trade group, said in the new report listing 10 recommendations on how Denmark's government can increase green fuel production. The Danish government should allocate a larger share of projected revenue from the EU Emissions Trading System (EU ETS) for producing zero-emission fuels, Danish Shipping said. About 3.8bn Danish krone ($555mn) of annual revenue is expected from the Danish shipping industry to fund EU ETS once it is fully implemented next year, according to the report. "Revenue from the EU ETS could be effectively used as an earmarked support scheme for shipping's green transition – covering both fuel production and offtake," Danish Shipping said. The FuelEU maritime regulation requires ship operators traveling in, out and within EU territorial waters to gradually reduce their GHG intensity on a lifecycle basis, starting with a 2pc reduction in 2025, 6pc in 2030, reaching an 80pc reduction by 2050, compared with 2020 base year levels. The Danish government should also set up financial mechanisms to support green shipping, Danish Shipping said, like establishing competitive bids for contracts and sending money to the EU hydrogen bank and EU Innovation Fund that would go towards green fuel production projects. The government should set up green shipping corridors in the North and Baltic seas. According to Danish Shipping, this would help make the Nordic region a leader in green shipping and incentivize suppliers, port authorities and shipping companies to transition to zero-emission fuel. Singapore and Rotterdam have set up green shipping corridors to facilitate green shipping for vessels travelling between those ports. By Luis Gronda Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
LowLands signs biomethanol deals with shipping firms
LowLands signs biomethanol deals with shipping firms
London, 18 March (Argus) — Dutch renewable methanol producer LowLands has signed several bio- and low carbon-methanol supply agreements with shipping firms, its chief executive Gijs Bakker said. The value of these agreements surpasses €1bn and is "rising fast", Bakker said. The supply will come from LowLands' 120,000 t/yr biomethanol facility in Moerdijk, Netherlands, which will use waste wood and municipal waste as feedstock. Bakker highlighted that the location at Moerdijk will offer "logistical advantages" to clients in Rotterdam and Antwerp. He said that the product price is very competitive compared with e-methanol, with a discount rate of 40-50pc. Production at the plant was initially scheduled to begin in 2024, but has been delayed until end of 2027 or early 2028, because of "war and its consequences on utility pricing", LowLands told Argus . "[Northwest Europe] has excellent infrastructure for collecting bio-wastes", Bakker said. "This makes [it] a preferred location for biomethanol production units." He noted that the slower-than-expected development of green hydrogen capacity means biomethanol from biogenic carbon will remain competitive for longer. International offtake agreements for renewable methanol are on the rise with the January rollout of the FuelEU maritime regulation, which could increase demand for biomethanol in shipping. Ship operators traveling to, out of, and within EU territorial waters must reduce their greenhouse gas (GHG) intensity on a lifecycle basis by 2pc. The cuts will reach 6pc from 2030 and gradually reach 80pc by 2050. Shipping firm Maersk has signed several letters of intent for procurement of biomethanol and e-methanol from producers including Norway's Equinor , Switzerland's Proman and Dutch-based chemical company OCI Global , and has an agreement with Chinese wind turbine manufacturer Goldwind for 500,000 t/yr from 2024. Maersk sees biomethanol and e-methanol as likely the most competitive and scalable pathways to decarbonisation this decade. While relatively small, Maersk's "green marine" fuel consumption, which includes biomethanol, increased by 38pc in 2024 to 3,034 GWh. By Evelina Lungu Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Singapore approves B30 bunkering in Type I barges
Singapore approves B30 bunkering in Type I barges
Singapore, 10 March (Argus) — Singapore has approved the bunkering of B30 from 7 March, with the country's Maritime and Port Authority (MPA) announcing that International Maritime Organization (IMO) Type I barges are allowed to transport biofuel blends of up to 30pc at the port. This is the proposed move that was agreed at the 12th session of the IMO's sub-committee on pollution prevention and response earlier this year and is part of the draft interim guidance on the carriage of blends of biofuels and MARPOL Annex I cargoes by conventional bunker ships. The International Convention for the Prevention of Pollution from Ships (MARPOL) is an agreement that covers the prevention of pollution of the marine environment by ships. Annex I covers pollution by oil and oil products carried or operationally used by ships. The draft circular seeks the current limit for biofuel blends at 25pc to be raised to 30pc. B30 is a blend that consists of 30pc used cooking oil methyl ester (Ucome) and 70pc very low sulphur fuel oil (VLSFO). The MPA "accepts this draft for early implementation on board Singapore registered conventional bunker ships with effect from 7 March 2025 onward," it announced on 6 March. The MPA also specified that bunker suppliers and craft operators are still expected to seek port authorities' approval for bunkering pilots and trials of marine fuel blends above 30pc. There are currently trials ongoing for B100 at the port of Singapore. The draft circular is due to be presented for approval at the IMO's 83rd session of Marine Environment Protection Committee (MEPC 83) in April. Meanwhile, this measure by MPA comes as shipowners have been seeking opportunities to bunker B30 in Singapore and Malaysian ports for their voyages to Europe, as part of their efforts to meet current compliance requirements set by FuelEU Maritime that came into effect in January this year. In line with the interest among shipowners, there were spot B30 indications in Singapore on 7 March as a key Asian shipowner reported discussions. Prices were assessed by Argus at $730.50-735.50/t delivered on board (dob) Singapore basis on 7 March, based on indications that were at $245-250/t on a delivered premium basis to VLSFO cargo prices. Argus assessed VLSFO prices at $485.50/t fob Singapore on 7 March. By Mahua Chakravarty Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
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Related events
Argus Sustainable Marine Fuels Conference
Argus Sustainable Marine Fuels Conference
Argus Biofuels Europe Conference & Exhibition
Argus Biofuels Europe Conference & Exhibition
Argus Green Marine Fuels Asia Conference
Argus Green Marine Fuels Asia Conference
