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
12 May First biofuel bunker supply announced in Middle East Japan's Inpex Corporation and the Astomos Energy Corporation have signed a deal to supply ...
12 May Biomethane supplier ReFuels lists in Oslo Dutch energy supplier ReFuels listed today on the Oslo Stock Exchange (...
12 May European ammonia production remains uncompetitive Domestic ammonia production remains uncompetitive with imports into Europe, even as ...
11 May Hoegh Autoliners agree to green ammonia deal Norwegian-based shipping company Hoegh Autoliners and alternative fuels supplier North Ammonia have ...
11 May South Korea launches first LNG bunkering vessel South Korean shipbuilding firm Hyundai Heavy Industries has completed the construction of the country's ...
11 May Vopak opens new biofuel feedstock storage facility Dutch infrastructure provider Vopak has opened 16 new tanks to store renewable feedstocks for biofuels ...
11 May Japan's Astomos to receive biofuel for VLGC Japanese LPG importer Astomos has agreed with domestic upstream firm Inpex to receive mixed biofuel for its ...
11 May Toyota Tsusho starts commercial bunker biofuel supplies Japanese trading house Toyota Tsusho in April started commercial deliveries of marine biofuel to ...
10 May H2 plans firm up in Central America and the Caribbean Countries in Central America and the Caribbean are advancing plans to move towards renewable, and in some cases low-carbon...
10 May Marubeni to sell Chinese low-carbon methanol in Japan Japanese trading house Marubeni plans to start selling low-carbon methanol produced in China in ...
10 May Asian UCO to US trade continues despite customs dispute Biofuel feedstock used cooking oil (UCO) is set to continue flowing from Asia ...
10 May Cepsa looks into biofuels from microalgae Spanish oil and gas company Cepsa and the Canary Islands governmental research body Instituto Tecnologico de Canarias (ITC) are looking into ...
10 May Darling renewable diesel sales volumes up in 1Q Darling Ingredients boosted its sales of renewable diesel by nearly ...
9 May Algeria eyes H2 to green 4mn-5mnt/yr ammonia exports Algeria plans to substitute renewable hydrogen into its existing 4-5mnt/yr of ammonia production based on ...
Conventional marine fuels
12 May Panama bunker sales at 5-year low for April Panama's April bunker sales dipped below 400,000t for the first time in five years, probably because of strong ...
12 May Europe diesel demand down 4pc on year in Feb Diesel deliveries fell by 4pc year on year in ...
12 May Chinese product exports to rise in May Chinese exports of gasoline, diesel and jet fuel are on course to rise this month following the…
12 May Oman's O Bunkering signs supply deal in Duqm Oman-based bunker trading firm O Bunkering signed a deal with Marsa Al Duqm Investments (Marsa), a subsidiary of ...
12 May Japan's bonded bunker fuel demand strengthens in March Japan's March bonded marine fuel sales hit 80,000 b/d for the first time ...
12 May Weaker coal fundamentals pressure Pacific Panamax rates Freight rates for Pacific dry bulk Panamax have fallen to an 11-week low on reduced coal demand ...
12 May Exmar shipping profits jump with rates in 1Q Belgium-based LPG shipowner Exmar's shipping arm increased its profits in the first quarter ...
12 May Petrobras to review fuel pricing policy next week Brazil's state-controlled Petrobras will review its fuel pricing policy next ...
11 May Singapore's fuel oil inventories exceed six-month lows Singapore's onshore fuel oil stocks fell to over six-month lows with a drop in imports and rise ...
11 May Higher runs, sanctions to buoy clean tankers: d'Amico Rising refinery throughput and higher tonne-mile demand caused by ...
11 May Panocean dry bulk profits fall further South Korea-based operator Panocean's profits fell in the first quarter …
11 May Tonne mile growth firms Torm tankers profits in 1Q Product tanker owner Torm benefited from firmer freight rates in ...
11 May Euronav crude tanker profits surge in 1Q Shipowner Euronav's profits were buoyed in the first quarter of …
11 May Hapag-Lloyd installs more scrubbers in fleet Container shipping firm Hapag-Lloyd said its demand for low-sulphur bunker fuel grades diminished in the first quarter ...
11 May German heating oil attracts premium over diesel at ARA The price of German heating oil barges at the Amsterdam-Rotterdam-Antwerp (ARA) hub has been higher than diesel barges ...
11 May Brazil diesel demand, Russian imports up in April Modest growth in Brazilian domestic diesel consumption in April led to lower-than-expected sales, particularly among ...
10 May Lack of Pakistan purchases pressures Asian HSFO markets Singapore high-sulphur fuel oil (HSFO) margins have remained under pressure as Pakistan continues to ...
10 May Increased vessel orders firm KHI's FY22 revenues Japanese shipbuilder Kawasaki Heavy Industries (KHI) posted an increase in revenues from its ...
10 May Asian UCO to US trade continues despite customs dispute Biofuel feedstock used cooking oil (UCO) is set to continue flowing from Asia to ...
9 May Spain diesel demand drop leads fuel deliveries lower Spanish road fuel deliveries by storage and pipeline operator Exolum fell in April when a dip in ...
9 May TFG Marine expands US Gulf operations The bunker fuel supply joint venture TFG Marine will expand ...
9 May EU refinery runs at post-pandemic high European traders narrowly built their stockpiles of every major product in April, especially ...
8 May Open arbitrage prompts China to import diesel Chinese refiners are importing diesel to take advantage of an open arbitrage window and granted import quotas...
8 May Jones Act owner OSG swings to profit in 1Q US-based Jones Act tanker owner Overseas Shipholding Group (OSG) swung to profit in the first quarter on fewer layup days for its ...
Related news posts
Some eastern US rail shipments restart after Helene
Some eastern US rail shipments restart after Helene
Washington, 30 September (Argus) — Some railroad operations in the southeastern US have resumed in the aftermath of Hurricane Helene, but major carriers warn that some freight may be delayed while storm-damaged tracks are repaired. Rail lines in multiple states were damaged after Hurricane Helene made landfall on the northeastern Florida coast on 26 September as a category 4 storm and traveled northwards as a downgraded but still dangerous storm into Georgia, Tennessee, and the Carolinas. The storm left significant rain and wind damage in its wake, including washed-away roads, flooded lines, downed trees and power outages. Eastern railroads CSX and Norfolk Southern (NS) said they are working around the clock to restore service to their networks. Norfolk Southern said it had made "significant progress" towards its recovery with most major routes back in service including its Chattanooga, Tennessee, to Jacksonville, Florida, line as well as its Birmingham, Alabama, to Charlotte, North Carolina route. Norfolk Southern said freight moving through areas that are out of service could "see delays of 72 hours". Several of Norfolk Southern's other routes remain out of service, including rail lines east and west of Asheville, North Carolina, because of historic levels of flooding. There are multiple trees to remove along a 70-mile stretch from Macon, Georgia, to Brunswick, Georgia. And downed power lines are keeping the railroad's lines from Augusta, Georgia, to Columbia, South Carolina, and Millen, Georgia, out of service. CSX said "potential delays remain" but did not provide specifics. However, the railroad said it had made "substantial progress" in clearing and repairing its network. The railroad's operations in Florida have mostly reopened, as have rail lines in its Charleston subdivision, which crosses South Carolina and Georgia. But bridge damage and major flooding has kept CSX's Blue Ridge subdivision out of service. A portion of the line running from Erwin, Tennessee, to Spartanburg, South Carolina, has been cleared, but CSX said "a long-term outage" is expected for other parts of the rail line. By Abby Caplan Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Lower Mississippi draught restrictions eased
Lower Mississippi draught restrictions eased
Houston, 30 September (Argus) — The US Coast Guard (USCG) loosened daught restrictions on sections of the lower Mississippi River following heavy rains upstream from Hurricane Helene . Traffic moving southbound on the lower Mississippi from Tiptonville, Tennessee, to Greenville, Mississippi, can now have a draught up to 10.6ft, while vessels in the region between Greenville to Tunica, Louisiana, can go up to 11ft, according to 26 September notice from the USCG. Tows traversing Tiptonville to Vicksburg, Mississippi, can have six barges wide, while tows traveling through Vicksburg to Tunica can be up to seven barges wide. Northbound tows cannot draft higher than 9.5ft from Vicksburg up through Tiptonville. The same tows cannot have more than six barges wide and more than four of them loaded. All but two locations on the lower Mississippi River rose above their low water threshold and are forecast to remain that way through mid-October, the National Weather Service said. Restrictions were loosened late last week after Hurricane Helene brought flash floods](https://direct.argusmedia.com/newsandanalysis/article/2612780) to the southeastern US following weeks of drought conditions along the lower Mississippi River. By Meghan Yoyotte Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
US July ethanol output highest ever: EIA
US July ethanol output highest ever: EIA
Houston, 30 September (Argus) — US production of fuel ethanol in July set a monthly record at 1.09mn b/d as producers were incentivized by low feedstock prices amid robust demand. July output was up by 5.1pc from the previous month and 5.6pc higher than a year earlier, according to data released by the Energy Information Administration (EIA) on Monday. Output during the month was 2,000 b/d above the previous record set in August 2018. Low prices for corn feedstock, which arrived during the demand-heavy summer driving season for gasoline — a proxy for ethanol blending and demand — helped bolster production rates. Front month CBOT corn prices in July averaged 398¢/bushel, the lowest since September 2020 and 28pc less than a year earlier. Value for corn has been under pressure from healthy domestic crop yields. US supplied finished motor gasoline reached 9.3mn b/d, up by 177,000 b/d from June and about 300,000 b/d higher than a year earlier. Ethanol blending in July was 914,000 b/d – little changed over the month and from a year earlier. By Payne Williams Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Greek Corinth crude arrival momentum slows after fire
Greek Corinth crude arrival momentum slows after fire
Barcelona, 30 September (Argus) — Crude receipts at Greek refiner Motor Oil Hellas' (MOH) 180,000 b/d Corinth facility fell in September and arrival momentum has slowed, following a serious fire. Corinth imported 170,000 b/d in September, down from 185,000 b/d in August. The refinery received seven cargoes in the month, but only two were unloaded after the 17 September fire . One cargo of Caspian CPC Blend diverted to BP's 108,000 b/d Castellon refinery in Spain. The fire has damaged crude distillation (CDU) capacity at the refinery, but MOH has not replied to requests for details. The two crude cargoes that unloaded following the fire were staple grade Iraqi Basrah Medium, as are a pair signalling arrival. Both of these departed Basrah prior to the fire. One should arrive on 2 October, and the other is travelling via the Cape of Good Hope and is not slated to arrive until 13 October. No other deliveries are signalling arrival. Around 75pc of the crudes at Corinth are Basrah grades. MOH has previously said it has flexibility in its term contract with Iraq's state-owned Somo and can tailor the pace of deliveries to its needs. Earlier this year MOH said it wanted to buy more Basrah crude from trading firms, but the majority of its cargoes still come direct from Somo, according to Kpler data. This includes the two now on route to Corinth. MOH regularly blends Basrah with CPC Blend and Libyan Es Sider, plus occasional cargoes of Kazakh Kebco and Norwegian Johan Sverdrup. Prior to the fire MOH bought a cargo of Guyanese Unity Gold for the first time . MOH had major works in the summer of 2023 on the older and larger of its two CDUs. On completion deputy managing director Petros Tzannetakis said the refinery would run in excess of 200,000 b/d . Receipts are estimated by Argus at 200,000 b/d in the first three quarters of this year (see chart) . Receipts in September comprised 85,000 b/d of Basrah Medium, 35,000 b/d of Libyan crude split between Es Sider and Sarir, more than 25,000 b/d of Unity Gold and more than 20,000 b/d of CPC Blend. Argus assessed these at a weighted average gravity of 32.3°API and 1.7pc sulphur content, compared with 31.1°API and 2.5pc sulphur in August. The slate averaged 32.1°API and 2pc sulphur in the first nine months of the year, a little lighter and sweeter than 30.3°API and 2.5pc sulphur overall last year. By Adam Porter Corinth crude deliveries mn bl Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Business intelligence reports
Get concise, trustworthy and unbiased analysis of the latest trends and developments in oil and energy markets. These reports are specially created for decision makers who don’t have time to track markets day-by-day, minute-by-minute.
Learn more