Marine fuel global weekly market update

: Biofuels, Fertilizers, Hydrogen, Natural gas, Oil products, Petrochemicals
23/04/10

A weekly Argus news digest of interest to the conventional and alternative marine fuel markets. Argus' offices were closed on 7 April. To speak to our team about accessing the stories below, please contact: oil-products@argusmedia.com.

Alternative marine fuels

6 Apr Indonesia ships first sizeable volume of UCO to the US Indonesia exported the first ever sizeable volume of used cooking oil (UCO) to the US in...

6 Apr Malaysia's Petronas sells ammonia on formula to Gemoil Malaysia's state-owned Petronas has sold...

6 Apr Brazil's diesel consumption drops in February Brazil's diesel consumption fell in February amid lower demand from the agriculture sector, while gasoline consumption increased.

5 Apr Planned e-methanol site in southern Spain progresses Project developer Cetaer is advancing plans to develop an e-methanol production site in ...

5 Apr West Virginia 2.2mn t/yr blue ammonia plant secures gas One of the largest blue hydrogen projects under development, in West Virginia, US, has secured a supply ...

4 Apr Biodiesel share in German fuel mix up in January The share of biodiesel in Germany's road fuel mix rose on the month in ...

4 Apr UK's Atome actualises Iceland green ammonia plans UK-based green hydrogen and ammonia firm Atome Energy has announced a ...

4 Apr France remained an RME biodiesel market in 2022 French domestic supply and demand for biodiesel remains dominated by ...

4 Apr LNG discount to methanol renews LNG bunker interest The premium for LNG compared with grey methanol flipped to a discount in ...

4 Apr US methanol spot prices sink to multiyear lows The US Gulf coast methanol spot price assessment for the front-month sank to ...

3 Apr Morocco's OCP targets 1mn t of green ammonia by 2027 Moroccan fertilizer firm OCP has announced ambitious green ammonia ...

3 Apr Ireland's ethanol, biodiesel demand edges higher in Feb Irish biodiesel and ethanol consumption increased on the month and the year in …

3 Apr Q&A: EU boosts green marine fuels, says OCI CEO Inclusion of shipping emissions under the EU's emissions trading system (ETS) and mandatory reduction in the greenhouse gas (GHG) intensity of marine fuels excites OCI Global and Fertiglobe chief executive Ahmed El-Hoshy. The ETS, GHG fuel intensity cuts for EU maritime fuels and upwards revised renewables targets are building the market, he told Argus.

3 Apr Methanex cuts April Asia methanol contract price Canada-based methanol producer Methanex has cut its Asian Posted Contract Price (APCP) to ...

Conventional marine fuels

6 Ap ExxonMobil workers end strikes at French refineries Workers at ExxonMobil's downstream sites in France are ending a...

6 Apr Capesize bulkers face ‘anemic' port congestion: BRS The recent rise in Capesize rates on the back of rebounding...

5 Apr US Gulf coast fuel oil output at 3½-year high in March US Gulf coast residual fuel oil production in March rose to the highest in more than...

5 Apr Croatia's Ina seeks diesel made from non-Russian crude Croatia's Ina has issued a tender to buy diesel on a...

5 Apr India removes crude windfall levy, halves diesel tax India has removed a windfall tax on crude production and...

5 Apr Non-Russia origin bunker fuel sold at premium in UAE Guaranteed non-Russia origin fuel oil has been trading at substantial ...

4 Apr Pemex output of less-desired HSFO at 10-year high Pemex produced 305,100 b/d of heavy sulfur fuel oil (HSFO) in February, a high not seen since ...

4 Apr Japan sees higher oil product demand in FY2023-24 Japan's oil product demand is forecast to increase in the April 2023-March 2024 fiscal year, on the back of ...

4 Apr Lowest European diesel crack spread since war began European non-Russian diesel prices have fallen to their lowest premium against crude since ...

3 Apr Higher Asian bunkers may lift Pacific Panamax rates Freight rates for Pacific dry bulk Panamax vessels could continue to rise on ...

3 Apr NE Asian MR freight rises on higher Chinese exports Freight rates for clean Medium Range (MR) tankers from northeast Asia are higher, supported by ...

3 Apr Oil tanker backlog grows as French strikes rumble on Strikes over pension rights are continuing to hamper operations at French refineries, while a ...

3 Apr Russian Black Sea product exports rise Product loadings at Russian Black Sea ports increased by 60pc ...

3 Apr Fire hits Pertamina's Indonesian Dumai refinery An explosion and a fire hit state-controlled Indonesian refiner Pertamina's ...

3 Apr Boarded tanker found but some crew missing A tanker that was boarded by pirates on 25 March has been recovered, but ...

3 Apr German's Bayernoil refinery extends partial shutdown The shutdown at the Neustadt section of the 207,000 b/d Neustadt-Vohburg refining complex is ...

3 Apr Germany's costly return to diesel cargo market looms German diesel stockpiles are steadily sinking and ...

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25/05/16

US House panel votes down Republican megabill

Washington, 16 May (Argus) — A key committee in the US House of Representatives voted today to reject a massive budget bill backed by President Donald Trump, as far-right conservatives demanded deeper cuts to clean energy tax credits and social spending programs. The House Budget Committee failed to pass the budget reconciliation bill in a 16-21 vote, with four House Freedom Caucus members — Ralph Norman (R-South Carolina), Chip Roy (R-Texas), Josh Brecheen (R-Oklahoma) and Andrew Clyde (R-Georgia) — voting no alongside Democrats. A fifth Republican voted no for procedural reasons. The failed vote will force Republicans to consider major changes to the bill before it comes up for a vote on the House floor as early as next week. Republican holdouts say the bill would fall short of their party's promises to cut the deficit, particularly because it would front-load increased spending and back-load cuts. The bill is set to add $3.3 trillion to the deficit, or $5.2 trillion if temporary provisions were permanent, according to estimates from the nonpartisan Committee for a Responsible Federal Budget. Some critics of the bill said the proposed cut of $560bn in clean energy tax credits is not enough, because the bill would retain some tax credits for new wind and solar projects. "A lot of these credits have been in existence for 30 or 40 years, and you talk about giveaways, we want to help those who really need help," Norman said ahead of his no vote. "That's the heart of this. Sadly, I'm a no until we get this ironed out." Negotiations will fall to House speaker Mike Johnson (R-Louisiana), who can only lose three votes when the bill comes up for a vote by the full House. But stripping away more of the energy tax credits enacted in the Inflation Reduction Act could end up costing Johnson votes among moderates. More than a dozen Republicans on 14 May asked to pare back newly proposed restrictions on the remaining clean energy tax credits. Ahead of the failed vote, Trump had pushed Republicans to support what he calls the "Big Beautiful Bill". In a social media post, he said "Republicans MUST UNITE" in support of the bill and said the party did not need "GRANDSTANDERS". The failed vote has parallels to the struggles that Democrats had in 2021 before the implosion of their push to pass their sprawling "Build Back Better" bill, which was later revived as the Inflation Reduction Act. Republicans say they will work over the weekend on a compromise. The House Budget Committee has scheduled another hearing at 10pm on 18 May to attempt to vote again on the budget package, but any changes to the measure would occur later, through an amendment released before the bill comes up for a vote on the House floor. By Chris Knight Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Trump says US will soon set new tariff rates

25/05/16

Trump says US will soon set new tariff rates

Washington, 16 May (Argus) — The US will unilaterally set new tariff rates on imports from select trading partners instead of holding negotiations over import tax levels, President Donald Trump said today. In the next 2-3 weeks "we'll be telling people what they will be paying to do business in the US," Trump told a group of US and UAE business executives in Abu Dhabi today. Trump contended that more than 150 US trading partners have expressed interest in negotiating with his administration, adding that "you're not able to see that many countries." Trump's administration since 5 April imposed a 10pc baseline tariff on imports from nearly every US trading partner — with the notable exception of Canada, Mexico and Russia. Trump paused his so-called "reciprocal tariffs" until 8 July, nominally to give his administration time to negotiate with foreign countries subject to those punitive rates. The reciprocal tariffs would have added another 10pc on top of his baseline tariff for imports from the EU, while the cumulative rate would have been as high as 69pc on imports from Vietnam. Trump in April suggested that 200 deals with foreign trade partners were in the works. Treasury secretary Scott Bessent has said the US is only negotiating with the top 18 trading partners. The trade "deals" clinched by the Trump administration so far merely set out terms of negotiations for agreements to be negotiated at a later date. The US-UK preliminary deal would keep the US tariff rate on imports from the UK at 10pc, while providing a quota for UK-manufactured cars and, possibly, for steel and aluminum. The US-UK document, concluded on 9 May, explicitly states that it "does not constitute a legally binding agreement." The US-China understanding, reached on 12 May, went further by rolling back some of the punitive tariff rates but left larger trade issues to be resolved at a later date. The Trump administration would keep in place a 20pc extra tariff imposed on imports from China in February-March and a 10pc baseline reciprocal tariff imposed in April. The US will pause its additional 24pc reciprocal tariff on imports from China until 10 August. Conversely, China will keep in place tariffs of 10-15pc on US energy commodity imports that it imposed on 4 February, and 10-15pc tariffs on US agricultural imports, imposed in March. It will maintain a 10pc tariff on all imports from the US that was imposed in April, but will pause an additional 24pc tariff on all US imports until 10 August. These rates are on top of baseline import tariffs that the US and China were charging before January 2025. By Haik Gugarats Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Kuwait's Kufpec gets OK to develop Indonesian gas field

25/05/16

Kuwait's Kufpec gets OK to develop Indonesian gas field

Singapore, 16 May (Argus) — Kuwait's Kufpec, a unit of state-owned KPC, has won approval from the Indonesian government for a plan of development for the Anambas gas field located in the West Natuna Sea offshore Indonesia. The Anambas field is located in the Natuna basin and has an estimated gas output of about 55mn ft³/d. Kufpec will invest around $1.54bn into the development of the field, which is planned to come on stream in 2028. The approved plan of development outlines a phased strategy to unlock the gas and condensate potential of the field, said upstream regulator SKK Migas. The regulator will encourage Kufpec to accelerate efforts and bring the project on stream by the fourth quarter of 2027, said the head of SKK Migas, Djoko Siswanto. The development of the field will include drilling production wells and installing subsea pipelines to transport gas from Anambas to existing facilities in the West Natuna transportation system. Kufpec in 2022 announced the discovery of gas and condensate at the Anambas-2X well in the Anambas block. The Anambas block was awarded to Kufpec Indonesia in 2019 through a bidding process. The company holds a 100pc participating interest in the block and has a 30-year production sharing licence, including a six-year exploration period. The approval of the plan of development marks a step towards the project's final investment decision. It also shows that the upstream oil and gas sector in Indonesia is still attractive to domestic and foreign firms, said Djoko. The field is expected to be able to transport gas to domestic and regional markets, support Indonesia's energy security, and drive economic growth, according to SKK Migas. Indonesia continues to prioritise oil and gas expansion to maintain economic growth. Investment in oil and gas rose from $14.9bn in 2023 to $17.5bn in 2024, according to the country's energy ministry. By Prethika Nair Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

JET Tankstellennetz an Investment-Duo verkauft

25/05/15

JET Tankstellennetz an Investment-Duo verkauft

Hamburg, 15 May (Argus) — Phillips 66 hat einen Mehrheitsanteil seiner Tankstellenkette JET an die Investmentfirmen Stonepeak und Energy Equation Partners verkauft. Der Transaktionswert soll etwa 2,5 Mrd. Euro betragen und umfasst gut 970 Tankstellen in Deutschland und Österreich, so die beteiligten Firmen. Die amerikanische Phillips 66 wird einen Anteil von 35 % an JET behalten. Die Transaktion soll voraussichtlich in der zweiten Jahreshälfte 2025 abgeschlossen werden, abhängig von behördlichen Zustimmungen. Phillips 66 wird darüber hinaus seinen Anteil an der Miro (310.000 bl/Tag) in Höhe von 18,75 % behalten und von dort JET für mehrere Jahre mit Produkt versorgen. Stonepeak ist eine Investmentfirma, die sich unter anderem auf Energieinvestments spezialisiert hat. Das in New York ansässige Unternehmen hält so unter anderem Anteile an amerikanischen Pipelines sowie an einem Windpark des dänischen Betreibers Ørsted. Energy Equation Partners ist laut Stonepeak eine frisch gegründete Investmentfirma mit Schwerpunkt im Kraftstoffhandel. Von Max Steinhau Senden Sie Kommentare und fordern Sie weitere Informationen an feedback@argusmedia.com Copyright © 2025. Argus Media group . Alle Rechte vorbehalten.

Erste Preise für CO2-Kosten im Verkehr ab 2027 bekannt

25/05/15

Erste Preise für CO2-Kosten im Verkehr ab 2027 bekannt

Hamburg, 15 May (Argus) — Die CO2-Kosten für Heizöl und Kraftstoffe werden in 2027 [wahrscheinlich] steigen. Dies zeigen erste Transaktionen für EUAs an der ICE. Verschiedene Handelsplätze bereiten darüber hinaus die Einführung von europaweiten Handelssystemen vor oder bieten diesen bereits an. Die nationale CO2-Abgabe (nEHS) wird im Jahr 2027 vom neuen europäischen Emissionshandelssystem (ETS 2) ersetzt. Am 06. Mai wurden hierfür erstmals Future Kontrakte für Emissionsrechte (EUA) an der ICE gehandelt. Insgesamt wurden rund 5000 EUAs in zwei Transaktionen gehandelt, beide zu 73,57 €/CO2e. Dies entspräche einer CO2-Abgabe von etwa 18,46 €/100l für Diesel, gegenüber aktuell im nEHS anfallenden 13,80 €/100l (siehe Grafik). Die CO2-Abgabe beträgt derzeit fix 55 €/t CO2e. Auch die leipziger Energiebörse EEX wird in Zukunft den Handel mit EUAs im ETS 2 anbieten: Ab dem 7. Juli 2025 sollen entsprechende Futures Kontrakte gehandelt werden können. Die EEX ist bereits die zentrale Handelsplattform im nEHS. Der erste Handelspreis für ETS 2 EUAs entpricht ungefährt dem Preis für EUAs im ETS 1, welches seit 2005 für Industrieemissionen gilt. Nach der Einführung des ETS 2 sollen die beiden Systeme zunächst parallel zueinander existieren, ohne Kompatibilität der jeweiligen EUAs zwischen einander. Langfristig soll jedoch auch eine Zusammenlegung der Systeme möglich sein; dies soll ab 2030 evaluiert werden. Wie hoch die Preise für EUAs im neuen System letztendlich ausfallen werden ist dennoch ungewiss. Verschiedene Forschungsgruppen haben bereits Prognosen erstellt, die je nach Studie von Preisen zwischen 60 und 405 €/t CO2e ausgehen. Im Extremfall könnte die CO2-Abgabe über 100 €/100l für B7-Diesel betragen. Die neue Bundesregierung bekräftigt im Koalitionsvertrag ihre Unterstützung des ETS 2, werde jedoch vom Opt-In des Agrarsektors keinen Gebrauch machen. Entsprechend wird Deutschand Emissionen aus der Landwirtschaft nicht im ETS 2 erfassen. Stark betroffene Wirtschaftsbranchen sollen unbürokratisch kompensiert werden, jedoch gibt der Koalitionsvertrag dazu keine Details. Neben der CO2-Abgabe bzw. dem ETS2 ab 2027 ist die Treibhausgasminderungsquote das andere gesetzliche Mittel der Politik die Energiewende im Verkehr voranzubringen. Zusammen führen beide zu einem verhältnismäßigen Preisanstieg von Diesel und Benzin und machen biogene Alternativen wie HVO wettbewerbsfähiger. Von Max Steinhau Höhe der CO2-Abgabe nach Kraftstoff Senden Sie Kommentare und fordern Sie weitere Informationen an feedback@argusmedia.com Copyright © 2025. Argus Media group . Alle Rechte vorbehalten.

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