Marine fuel global weekly market update

: Biofuels, E-fuels, Fertilizers, Hydrogen, Natural gas, Oil products, Petrochemicals
23/05/26

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

26 May French biodiesel imports continue to rise French biodiesel imports hit a new record in …

26 May Ecopetrol plans to hike H2 output by 2040 Colombia's state-controlled oil company Ecopetrol plans to produce ...

26 May Hydrogen-powered vessel enters NW Europe service Netherlands-based shipowner Future Proof Shipping (FPS) launched its hydrogen-powered, zero-emissions …

25 May TotalEnergies says HVO not for marine fuel sector The bunker sector is unlikely to adopt hydrotreated vegetable oil (HVO) in marine fuel blends, because …

25 May ExxonMobil to supply B30 in ARA ExxonMobil has signed an agreement to supply Hapag-Lloyd vessels with B30 marine fuel in the Amsterdam-Rotterdam-Antwerp (ARA) region.

25 May Spanish biodiesel feedstock patterns shift Demand patterns for biodiesel and hydrotreated vegetable oil (HVO) feedstocks in Spain are shifting as …

25 May Still waiting for zero-emission vessels: Study A recent report by governments trying to support zero-emissions ocean shipping found there were still no …

25 May Cruise giant Carnival picked LNG to cut particulates Cruise line operator Carnival Corporation said today that it has backed LNG over other alternative fuels as it …

25 May Singapore eyes growing role in alternative marine fuels Singapore is looking to play a bigger role in the alternative marine fuels industry, ahead of the …

25 May Charter practices reward fuel inefficiency: Report Underlying principles in most marine standard charter party terms reward fuel inefficiency …

25 May Cepsa expands waste feedstock sources for biofuels Spanish integrated energy firm Cepsa and Spanish association of co-operatives Agro-Alimentarias will work together to identify…

24 May China' methanol prices sink on weak demand, oversupply Chinese methanol prices have sunk to a more than two-year low, under pressure from persistently …

24 May Florida's Jaxport, Eagle LNG grow bunkering ambitions Higher LNG production capacity at US firm Eagle LNG's Maxville small-scale LNG production facility, alongside more …

24 May Spanish firm eyes green ammonia in Brazil's Piaui Spanish solar energy company Solatio plans to develop two renewable ammonia production plants in the northeast Brazilian state of Piaui that could together produce …

24 May Spanish biodiesel exports hit record high in 1Q Spanish biodiesel exports are rising further with shipments leaving Spain at a record pace in the first quarter of this year.

24 May Norwegian biofuels blending down in 2022 Blending of biofuels in Norway's transport sector fell by 55mn litres to …

24 May Dual-fuel engines to spur investment in 'greener' ships The implementation of dual-fuel engines in ships should encourage investment to build "greener vessels", according to …

24 May TotalEnergies buys 20pc of biogas start-up Ductor TotalEnergies has bought a 20pc stake in Finnish-based biogas start-up Ductor and will work with it to co-develop between 15 and 20 anaerobic digestion facilities to produce …

23 May BarMalGas to develop Germany's Rostock LNG German fuel distributor BarMalGas has taken over the Rostock LNG project and has scheduled construction to begin …

23 May NWE biofuels demand from scrubberless vessels to rise Vessels traveling in EU territorial waters without scrubbers next year may start using more biofuels …

23 May Spain's Ignis plans 850,000 t/yr green ammonia plant Spanish renewables firm Ignis plans to develop a €1bn ($1.08bn) green ammonia plant with capacity to produce …

23 May Trafigura sees potential for H2 derivatives in shipping Green hydrogen derivatives offer a more viable alternative to conventional bunkers than biofuels…

23 May Titan supplies LNG to ship in Kiel first Dutch small-scale LNG firm Titan completed the first ship-to-ship transfer in the German port of Kiel to a …

23 May Japan's MHI, Nihon Shipyard partner for LCO2 carrier Japanese engineering firm Mitsubishi Heavy Industries (MHI) and Nihon Shipyard have started a study for joint development of an ocean-going liquefied carbon dioxide (LCO2) carrier.

23 May China exports less biodiesel, UCO in April China's biodiesel exports fell by 17pc from 215,000t in March to …

22 May China's Dalian begins work on LNG-fuelled ship China's Dalian Shipbuilding Industry (DSIC) has begun work on a new dual-fuel container vessel, while another …

Conventional marine fuels

26 May Petrobras loses ground to diesel imports in April Diesel produced in Brazil ceded ground to imports in April, as …

26 May Singapore's gasoil imports poised to rebound in May Singapore's gasoil imports are on course to rebound in May from …

26 May Japan to end oil product subsidy in September Japan's trade and industry ministry (Meti) will end its oil product subsidy at the end of September, in consideration of …

26 May Fire extinguished on Shell bitumen barge A Shell-chartered bitumen barge caught fire in the early hours of Friday at …

25 May Singapore fuel oil stocks fall to over nine-month lows Singapore's onshore fuel oil stocks fell for a seventh consecutive week to over …

25 May Diesel demand sinks again in Italy Italian diesel and gasoil consumption slowed by 7pc month on month in …

25 May Nigerian diesel prices fall ahead of Dangote production Nigerian automotive gas oil (AGO) prices have fallen in recent days as the sooner than expected start-up of the 650,000 b/d Dangote refinery added to the …

26 May UK refinery output declined on lower demand in April Total refinery output in the UK fell by 17pc in April from March, according to …

23 May Monjasa bunker sales at record high Danish marine fuel trading and supply firm Monjasa's global bunker sales reached a record high …

23 May PetroPeru offers fuel oil tender for June State-owned PetroPeru will accept offers for one high-sulphur residual fuel oil (HSFO) cargo …

23 May Shipowner Navigator Gas' profits slip in 1Q New-York listed LPG Shipowner Navigator Gas' profits declined on the year in …

22 May Asian LSFO markets to ease further with rising inflows Singapore low-sulphur fuel oil (LSFO) margins rose to three-month highs last week on …

22 May Tight market supports HSFO margins in Europe Rising demand and tight supply are bolstering high-sulphur fuel oil margins in northwest Europe.

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24/11/16

Cop: Colombia’s climate plan to address fossil fuels

Baku, 16 November (Argus) — Colombia will seek to address the "divisive issue" of "the proliferation of fossil fuels" in its next emissions reduction plan — nationally determined contribution (NDC), environment minister Susanna Muhammad told Argus, adding that it would prompt a "strong debate" in the country. Colombia's president Gustavo Petro seeks to end the country's dependence on fossil fuels, while promoting a transition to clean and renewable energy. "Of course this is a very divisive issue, especially for a country that is looking for a whole economy transition," Muhammad said on the sidelines of the UN Cop 29 climate summit in Baku. "And trying to get the whole of society and the whole of government behind that will be a strong debate." Petro ordered an end to new hydrocarbon exploration and production contracts soon after taking office in August 2022. Petroleum association ACP said that Colombia's crude output will begin declining in 2027 as reserves are insufficient to maintain output amid falling exploratory activity. Petro's ambition to phase out fossil fuels risks sacrificing key revenues for the country. But Muhammad highlighted the need to achieve an ambitious financial goal that supports a just transition in developing economies. "We cannot continue playing with the same financial rules of the game," she said. "What we are seeing at this Cop 29 is that we need solidarity and fairness in the process of financing this transition." "We said in Dubai that we would triple renewables by 2030. The question remains, who is going to triple renewables and for whom?" she said, pointing to the significant gap in renewables expansion between developed and developing economies. Countries at Cop 28 in Dubai, the UAE, last year agreed on a deal that included transitioning away from fossil fuels, tripling renewable energy capacity and doubling annual energy efficiency gains globally by 2030. Muhammad added that the country will be submitting its NDC to the UN climate body the UNFCCC by June next year because it will "go through a very strong consultation process" with different sectors of the economy. Cop parties are expected to publish their next NDCs to the Paris climate agreement — this time for 2035 — in November-February, as part of a cycle that requires countries to "ratchet up" their commitments every five years. "Our main source of emissions is deforestation, agriculture practices, especially cattle ranching," she said, adding that the government is seeking the participation of actors that are at the forefront of the climate crisis. Risky business Talking about the possibility of the US pulling out of the the Paris Agreement and Argentina's delegation exiting negotiations in Baku, she warned that by not putting the people first in the fight against climate change, leaders are risking that other "authoritarian" regimes or "climate deniers" take more power. Brazil's secretary for climate change Ana Toni said today that private companies like policy consistency and that businesses need to look at the countries that are showing climate commitment and consistency in their NDCs. "The climate crisis is irreversible, we need to focus on climate action and implementation," Toni said. By Jacqueline Echevarria Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

Cop: Parties continue work on new finance goal

24/11/16

Cop: Parties continue work on new finance goal

Baku, 16 November (Argus) — Parties at the UN Cop 29 climate talks in Baku have asked for more time to work on "specific proposals" for a new finance goal, working from a draft text released yesterday , before convening for a plenary session later today, according to the summit's presidency. Country representatives are seeking to agree on a new climate finance goal for developing nations, following on from the current — broadly recognised as inadequate — $100bn/yr target. The draft text still fails to bridge the huge divide between developed and developing countries on key issues such as an amount for the goal, the contributor base and what the funds should be used for. A plenary is due to take place later today in Baku. "Over the last few days some people have doubted whether collectively we can deliver. It is time for the negotiators to start proving them wrong," Cop 29 deputy lead negotiator Samir Bejanov said. Parties continue to stick to their positions. Developed countries have still not come forward with a number for the goal, and want the contributor base broadened. Developing countries remain broadly united in calling for climate public finance of over $1 trillion/yr. Options show that developing country parties seek a new finance goal that serves mitigation — actions to reduce emissions — adaptation and loss and damage. Adaptation refers to adjustments to avoid global warming effects where possible, while loss and damage describes the unavoidable and irreversible effects of such change. Developed nations are also pushing for sub-targets of $220bn/yr for least developed countries (LDCs) and $39bn/yr for small island developing states (Sids), in which money for adaptation should come in the form of grants and highly concessional finance and funding for loss and damage "primarily in grants". The multi-layered approach in the draft, mostly supported by developed countries, does not mention loss and damage. On broadening the contributor base, it has options calling on "parties in a position to contribute" or "all capable parties" to "mobilise jointly $100bn/yr for mitigation and adaptation in developing countries by 2035. The UN climate body the UNFCCC works from a list of developed and developing countries from 1992 — delineating 24 countries plus the EU as developed — and many of these note that economic circumstances have changed in some countries, including China, over the past 32 years. China between 2013 and 2022 provided $45bn in climate finance to developing countries, equivalent to 6.1pc of climate finance provided by all developed countries in the period, according to think-tank WRI. A few options in the multi-layered approach in the draft talk about "investments", which developing countries do not support, and "investing trillions "from all sources, public, private, domestic and international". Some parties on both sides are calling for the reforms of multilateral development banks, key to leverage billions in private sector finance, to accelerate. But these issues are largely outside of the remit of the Cop, even though they may get a boost from the upcoming G20 leaders summit on 18-19 November. UN climate body chief Simon Stiell [today urged G20 leaders to make the climate crisis](https://direct.argusmedia.com/newsandanalysis/article/262963 "order of business number one". He called on G20 to ensure the availability of more grant and concessional finance, make progress on debt relief, and push for additional multi-lateral development bank reforms. Brazil is looking to use its G20 presidency to advance agreement on energy transition finance, having set fighting climate change as one of its G20 priorities. The country called for a global finance governance that includes rules for financing a "just and equitable" energy transition in developing economies and for an easier access to climate funds. Brazil has also pushing for a 2pc tax on billionaires that could generate up to $250 bn/yr in revenue. By Victoria Hatherick and Caroline Varin Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

Cop: UN’s Stiell urges G20 to make climate its priority

24/11/16

Cop: UN’s Stiell urges G20 to make climate its priority

Baku, 16 November (Argus) — Leaders at next week's G20 summit should make the climate crisis "order of business number one" as negotiations on a new climate finance goal continue at the UN Cop 29 climate conference in Baku, Azerbaijan, UN climate body chief Simon Stiell said today. "Stepping it up on climate finance globally requires action both inside our Cop process and outside of it," Stiell said, and the G20's role is "mission critical". Stiell called on G20 leaders meeting in Rio de Janeiro, Brazil, on 18-19 November to ensure the availability of more grant and concessional finance, make progress on debt relief, and push for additional multi-lateral development bank reforms. Some delegates at Cop have noted that the outcome of the G20 meeting will be key for climate finance . G20 in India last year recognised the need to increase global climate investments to trillions of dollars from billions, from all sources, highlighting that $5.8 trillion-5.9 trillion is required before 2030 for developing countries to implement their climate plans. The communique had called on "parties" to set an ambitious goal from $100bn/yr floor, which developed countries committed to mobilise through 2025. Brazil this year is looking to use its G20 presidency to advance agreement on energy transition finance , having set fighting climate change as one of its G20 priorities. The country called for a global finance governance that includes rules for financing a "just and equitable" energy transition in developing economies and for an easier access to climate funds. Brazil has also pushing for a 2pc tax on billionaires that could generate up to $250 bn/yr in revenue. Stiell said today that there is a "long way to go" on talks to agree a new climate finance goal for developing nations in Baku. A round of informal consultations on a third draft text took place late yesterday , but the document was still far off striking a compromise between developed and developing countries on central aspects including the amount of funds to be given, which countries should contribute, and how the money should be used. By Victoria Hatherick Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

India's RCF issues tender for MOP and 10-26-26

24/11/15

India's RCF issues tender for MOP and 10-26-26

London, 15 November (Argus) — Indian importer RCF has floated a tender for 30,000t of standard MOP and 30,000t of 10-26-26, closing on 18 November. Shipments are to be made to any of India's east coast ports before 30 November. Suppliers can submit offers for either or both products. Offers should be valid until 22 November. The MOP supplied should be red, pink, white or off-white. The NPK is requested to be white or off-white. RCF also has pending tenders for 15-15-15 and 20-20-0+13S. Fellow importer Fact recently awarded its 10 October tender to buy 40,000t of standard MOP to Russian fertilizer producer Uralkali at $283/t cfr with 180 days credit, the prevailing contract price in India. By Nykole King Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

India's IPL outlines ports for urea tender awards

24/11/15

India's IPL outlines ports for urea tender awards

Amsterdam, 15 November (Argus) — Indian fertilizer importer and producer IPL has allocated ports to suppliers for awards under its 11 November tender, which saw the firm buy 1.03mn t of urea for the west coast. IPL issued letters of intent to agreed suppliers for just over 1mn t at $362/t cfr west coast in the evening of 14 November . The breakdown of the awards by supplier and port are detailed in the table below. IPL requested loading by 25 December. Middle East producers are set to dominate supply and will likely end up accounting for half of the tonnage, with netbacks equating to around the high $340s/t fob. Russian tonnage amounts to 200,000t so far at $305-310/t fob Baltic, while Malaysia's Petronas could account for around 100,000t. Nigeria's Indorama will load a total of three urea vessels to IPL next month — one directly and two for trading firms, following one cargo to RCF under the previous Indian urea tender. Nigerian urea moving eastwards highlights the comparative weakness in the Americas. This trend was further underscored by Egypt's Abu Qir also opting to support a trading firm with a prilled urea vessel under this latest tender. By Harry Minihan IPL 11 November urea tender port allocations Supplier Quantity (t) Discharge port Samsung 45,000 Mundra Samsung 45,000 Mundra Samsung 45,000 Mundra Samsung 45,000 Kandla Samsung 45,000 Kandla Sun International 50,000 Mundra Indorama 46,000 Kandla Ameropa 47,150 Pipavav Agrifields 40,000 New Mangalore Agrifields 30,000 New Mangalore Aditya Birla Global Trading 55,000 Mundra Aditya Birla Global Trading 42,000 Mundra Aditya Birla Global Trading 50,000 Pipavav Aditya Birla Global Trading 50,000 Adani Tuna Koch 47,500 Kandla ETG 50,000 Adani Tuna Hexagon 47,000 Pipavav Midgulf 38,800 Rozy Midgulf 46,000 Mundra Fertistream 31,500 Jaigarh Keytrade 42,000 Rozy Fertiglobe 45,000 Dahej Fertiglobe 45,000 Hazira West coast total 1,027,950 — Market sources Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

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