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Multi-fuel most sustainable future for bunkers: Panel
Multi-fuel most sustainable future for bunkers: Panel
Singapore, 16 April (Argus) — Ensuring availability of bunkering options for multiple fuels at key ports is the most viable approach to supporting an energy transition in the shipping industry and the establishment of green shipping corridors between key ports, said participants at the Argus Green Marine Fuels conference in Singapore. The US/Israel-Iran war and the subsequent disruptions to conventional bunker fuel supplies from the Middle East has shown that availability of a wider range of fuels will make shipowners less likely to be caught out by supply disruptions, especially for fossil fuels. The port of Rotterdam is preparing for a multi-fuel future like Singapore, said the port's program manager for sustainable transport Naomi van den Berg. "We see it has having a large part to play in moving towards a sustainable fuels future," she said. But infrastructure at ports must be available to support distribution of alternative fuels such as LNG, methanol and ammonia. Ports in Hong Kong are looking to mainland China for support in supplying alternative fuels, said Amy Chan, deputy secretary for transport and logistics for the Hong Kong Special Administrative Region government. Hong Kong is set to announce a partner for its own shipping green corridor later this year, Chan said. LNG remains by far the fuel of choice, based on order books for vessels . But most shipowners are still opting for dual use or considering triple-use engines to ensure they have the flexibility to refuel at ports that offer the best value fuel. The choice of LNG also means shipowners have the option to switch to bio-LNG. Availability of fuels and pricing remain key concerns, particularly in a challenging market, said Rohit Radhakrishnan, chair of the marine fuels committee in the Singapore Shipping Association. Investment in infrastructure is key to ensuring progress and while there are some existing facilities to support the transition to a multi-fuel future, there are still not sufficient infrastructure to fulfill the shipping industry's needs, said conference participants. By Siew Hua Seah Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Asian refineries to run less efficiently on crude shift
Asian refineries to run less efficiently on crude shift
Singapore, 15 April (Argus) — Shifting crude slates at Asia-Pacific refiners are reshaping regional refined-products output, weighing on residual fuel production and potentially leaving secondary units running less efficiently, market participants said. Asian refiners are scrambling to secure alternative crude feedstocks because access to their regular supplies from the Mideast Gulf was effectively cut off by the US-Iran war, prompting many to look increasingly towards the US for replacement supply. US light sweet crude has emerged as a leading substitute for Middle Eastern heavy and medium sour grades stuck at or unable to transit the strait of Hormuz. A record 3.5mn b/d of US crude is expected to arrive in Asia-Pacific for June delivery, exceeding the previous record of 2.5mn b/d set just a month ago, according to ship-tracking data from Kpler. Japan, which relies heavily on Mideast Gulf crude, has become a key buyer of US cargoes. Japanese refiners have so far purchased more than 530,000 b/d of US crude for June delivery , according to Argus deal tracking data, easily surpassing the previous monthly high of 290,000 b/d in December 2025, based on the country's trade and industry ministry figures. ExxonMobil also bought just over 230,000 b/d of WTI for delivery to its 592,000 b/d Jurong refinery in Singapore in June. The Jurong refinery stopped importing US crude in May last year, after it upgraded residue processing and shifted to a heavier, more sulphurous slate. Lighter crude appetite The shift from heavier sour grades to lighter sweet crudes is expected to reduce residual fuel output, with knock-on effects on secondary unit feedstock availability, market participants said. Ironically, complex refiners — designed to upgrade residual fuels into higher-value gasoil and gasoline — may find themselves short of feedstock for secondary units under a lighter crude slate, resulting in lower operational efficiency. Argus Consulting research on Japanese refineries — which typically operate cracking configurations — shows the crude switch could increase light distillate output while sharply reducing residual fuel oil production. This could leave refiners struggling to source feedstock for hydrocrackers and fluid catalytic crackers, the key units for gasoil and gasoline production. It remains unclear whether refiners not accustomed to running such light slates will face operational constraints, but the impact may be limited in the near term while run rates remain below normal due to rationed crude supplies, an Argus consultant said. Some refiners may instead turn to spot purchases of secondary feedstocks such as vacuum gasoil (VGO) and straight-run fuel oil (SRFO), but these options come at elevated costs, according to an Argus survey. Refiners are seeking to buy VGO and SRFO, but supply is currently tight, a Singapore-based senior fuel oil trader said. It also depends on whether a refinery has a direct injection facility, which allows secondary unit feedstocks to be fed directly into downstream units rather than through the crude distillation unit (CDU), a senior oil analyst said. Vietnam's Nghi Son Refinery and Petrochemical (NSRP), for example, has made unusual SRFO and VGO purchases due to reduced residual output after switching to lighter crude grades, partly as a result of the US-Iran war. NSRP typically processes medium sour Kuwait Export Crude, but supply disruptions have forced it to source alternative grades — a process that had already begun prior to the conflict — resulting in lower production of heavier products such as fuel oil and VGO. Market participants warned of a potential double-whammy effect for Asian refiners — crude shortages force lower refinery run rates while mismatched crude slates reduce secondary unit efficiency, ultimately weighing on refined-products output. By Aldric Chew, Tng Yong Li and Chay You Liang Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Japan to ease oil bottleneck, ensure stable supply
Japan to ease oil bottleneck, ensure stable supply
Osaka, 10 April (Argus) — The Japanese government has moved to ensure stable supplies of oil products, some of which have faced distribution bottlenecks, while noting that overall fuel supply remains sufficient nationwide despite disruptions to Middle East crude flows. Concerns over securing supplies of oil products are growing among a wide range of industries in Japan, as bottlenecks emerge at the distribution stage. Heavy fuel oil and diesel are no longer as readily procured as they had been in the past, an official at the trade and industry ministry Meti said on 9 April. The government has already requested refiners and importers to ensure stable supplies regardless of whether customers are affiliated or not and regardless of whether business relationships exist, Meti said after a task force meeting held on 9 April to ensure the stable supply of critical goods against a backdrop of tensions in the Middle East. Tokyo has asked major refiners, including Eneos, Idemitsu and Cosmo Oil, to conduct direct sales to task force-designated critical facilities, including those in the medical, transportation, public services, agriculture, fisheries, livestock and essential goods manufacturing sectors. Refiners, as well as wholesale distributors, should supply volumes at levels equal to that of the same month a year earlier as a guideline, Tokyo said. The government will not intervene with contract negotiations between refiners and consumers, the official said when Argus asked whether new agreements between refiners and consumers will follow existing terms including pricing and other conditions aside from volumes. It remains unclear why the bottleneck has emerged, even though overall supply volumes across Japan should be sufficient, the official said. Meti is assessing the cause of the problem but has no plan to compile a report, as the government prioritises addressing the situation. The government will work to increase crude processing and expect refiners to strengthen their own response frameworks, the official said. Japan sold 2.5mn b/d of refined products in February, before the onset of the Middle East conflict, according to the latest data from Meti. Sales of gasoil and fuel oil averaged 543,700 b/d and 282,000 b/d, respectively. Japan sees no immediate risk of disruption to oil products in the domestic market, as it makes use of private-sector and government stockpiles and boosts alternative imports. Tokyo on 10 April decided to release an additional 20 days' worth of crude oil from its national reserves from early May, following earlier releases equivalent to 30 days from the national stockpile, 15 days from private stockpiles and six days under a joint stockpile programme with oil producing countries. Japan has sufficient oil supplies to last beyond the end of this year , prime minister Sanae Takaichi said on 7 April. In addition to petroleum products, the task force is also working to ease bottlenecks in petroleum-derived medical supplies and paint thinners. By Motoko Hasegawa Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Q&A: Energy security to drive marine fuels transition
Q&A: Energy security to drive marine fuels transition
Singapore, 27 March (Argus) — Argus spoke to Torben Norgaard, chief technology and analytics officer at the Maersk Mc-Kinney Moller Center for Zero Carbon Shipping, on the sidelines of the Asia Pacific Maritime (APM) conference and exhibition in Singapore from 25-27 March. Norgaard spoke about the impact of the current geopolitical turmoil on energy transition and what it means for the maritime decarbonisation. With current geopolitical disruptions, how is the industry balancing energy security and decarbonisation? The climate agenda has moved slightly down the global agenda, and instead we are seeing terms like energy resilience, energy diversity and energy security becoming more prominent in shaping energy policy. At first glance, one might expect this shift to slow down the energy transition. But when we look at investment flows into transition technologies and new energy systems, they are increasing year on year — quite aggressively. Countries that are not self-sufficient in fossil fuels are looking to secure energy through domestic resources, such as biomass or renewable electricity. So, while multilateral climate action may be weakening, a more regional and security-driven approach is emerging. Paradoxically, this is sustaining — and in some cases accelerating — investment in the energy transition. Are alternative fuels reliable enough today to support shipping at scale, from both a supply and investment perspective? From a technical standpoint, we have high confidence in the fuels being considered — bio-based fuels, methane, ammonia, methanol and other alcohols. The challenge now is not technology, but mobilisation. The maritime sector needs to be able to compete for these fuels in broader energy markets, and that depends heavily on maritime regulation. Investments in low-emission fuels are not made for shipping alone. These are part of broader energy systems that serve multiple industries. What we are tracking is where these energy systems are developing, and how shipping can position itself to participate in those markets. The first wave of fuels entering maritime will be those that use existing infrastructure and technology. These include bio-oils for conventional vessels and biomethane for LNG-fuelled vessels. These upstream investments are relatively robust because they serve multiple sectors and make use of existing infrastructure. The second wave — such as methanol, ammonia and other synthetic fuels — is more complex and higher cost. These pathways still lack clear market structures and demand signals, which is why they are progressing more slowly. Given current uncertainty, how are shipowners making investment decisions? Shipowners recognise that the industry is becoming more complex. We see two main pathways emerging — a liquid fuel pathway and a gaseous fuel pathway. The choice between them depends on factors such as geography, trading routes and vessel type. The next decision is how "future-ready" to make a vessel. We know the transition is coming, but the exact timing is uncertain. Shipowners, therefore, need to balance investing now versus preparing for future retrofits. The key focus is building optionality — ensuring vessels can operate under multiple future scenarios. Will the energy transition slow down or accelerate in the next three to five years? The transition is continuing to accelerate. If you look at total emissions from maritime activity, they have remained relatively stable, even as trade has grown. This means emissions per unit of cargo have decreased significantly by around 30pc over the past decade. In the next 3-5 years, we will see increased uptake of fuels that are already viable and compatible with existing infrastructure — primarily biofuels and biomethane. Has the deferment in IMO's NZF (International Maritime Organization's net zero framework) set back the transition? The status on IMO's NZF, I would not call it a setback, but the IMO session in October 2025 was a missed opportunity for taking a step forward. Not adopting the framework delayed progress, but it did not reverse it. The industry would benefit from global regulation rather than a patchwork of regional rules. Is Asia well-positioned to support this transition? Asia is very well positioned from a technology and readiness perspective. Most vessels are built here, and much of the innovation, testing and pilot activity for new fuels is taking place in Asia. However, what Asia lacks is a strong regulatory framework that enables shipping to compete for low-emission fuels. In this respect, Europe is currently ahead, with more developed regulation that creates demand and supports fuel uptake. What role can Singapore play in the transition? Singapore already plays an important role, particularly in de-risking the operational aspects of new fuels through pilots and testing. There is an opportunity for Singapore to go further — not just as a maritime fuel hub, but as a broader energy hub. That means taking a systemic view, integrating multiple industries and creating demand across sectors. However, there is also a structural challenge. Future energy systems may shift towards producing energy closer to where it is consumed, rather than transporting it globally. By Mahua Mitra Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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