Marine fuel global weekly market update

: Biofuels, E-fuels, Emissions, Fertilizers, Hydrogen, Oil products, Petrochemicals
23/12/01

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

1 December EU's bio-feedstock rules face reality check: Industry The EU is over-reliant on using "waste" biofuels in its plans to decarbonise the aviation, shipping and trucking sectors, while a shortfall in associated feedstock supply could risk missingemissions-reduction targets unless strategies change, the biofuels industry warns.

1 December Spain's Cepsa, C2X plan 300,000 t/yr e-methanol plant Spanish energy company Cepsa has joined Danish shipping firm AP Moller-Maersk's affiliate C2X to develop 300,000 t/yr of e-methanol production capacity, the first of several production facilities planned by C2X in Spain.

1 December Maersk Tankers orders 10 large ammonia carriers Denmark's Maersk Tankers has confirmed an order for up to 10 very large ammonia carriers (VLAC) from South Korean shipbuilder Hyundai Samho Heavy Industries.

1 December European marine biodiesel prices converge Marine biodiesel blend price spreads converged along regional lines in November, as traded values eased in the west Mediterranean but held ground in northwest European ports.

1 December Tight supplies lift bunker premiums in UAE's Fujairah Bunker premiums in the UAE's Fujairah, the world's fourth largest bunkering port, rose to their highest in 11 months because of regional refinery problems and delayed cargoes from west of Suez.

30 November Kenoil supplies first bio-MGO blend in Singapore Bunker supplier Kenoil Marine Services will supply the first ever biofuel blended with marine gasoil (MGO) in Singapore.

30 November NCL and Yara plan ammonia-fueled containership Norway-based North Sea Container Line (NCL) in a joined venture with Norway-based fertilizer producer Yara will build the world's first containership that will operate on ammonia.

30 November B24 Med prices down in second half November Mediterranean marine biodiesel blend prices trended downwards in the second half of November as subdued bunkering demand combined with easing fundamentals in the underlying markets.

30 November BV launches first rules for hydrogen vessels Classification society Bureau Veritas (BV) has released its first set of classification rules (NR678) for vessels powered by hydrogen, complimenting the existing rules (NR547) on fuel-cell powered vessels which were launched last year.

30 November Second berth at Freeport LNG restarts operations An empty LNG carrier has arrived at the second loading berth of the US' 15mn t/yr Freeport LNG export facility, suggesting the berth is back in action after being offline since June 2022.

30 November Taiwan's Formosa sells more LSFO as RFCC issue drags on Taiwanese private-sector refiner Formosa Petrochemical likely sold around 160,000t (1.03mn bl) of low-sulphur fuel oil (LSFO) after an extended turnaround at its residual fluid catalytic cracker unit (RFCC) at its 540,000 b/d Mailiao refinery, according to traders.

29 November Petroecuador's LNG tender receives no offers Petroecuador did not receive any offers for a tender to import 4.86bcf of LNG over a three and a half month period.

29 November Spain's Enagas plans 2024 LNG maintenance Spain's seven LNG terminals have added extensive maintenance for next year, with constraints set to peak in the summer, according to the latest provisional plan published by Enagas on 27 November.

29 November Biorig to invest €250mn in 10 Spanish biogas plants Spanish firm Biorig will invest €250mn ($274mn) in the development, construction, and operation of 10 biomethane production facilities in the Castilla and Leon region of northwest Spain.

27 November Preem plans further investment on refinery conversion Swedish firm Preem said it plans to invest a further 5.5bn Swedish kronor ($525mn) on converting its 210,000 b/d Lysekil refinery into a renewable fuels plant.

27 November ERGaR asks EU to pull down biomethane ‘trade barrier' Eight European biomethane associations have sent a joint letter to the European Commission asking for the extra-EU imports of biomethane and biomethane-based fuels to be "certifiable and recognized" under the Union Database.

Conventional marine fuels

1 December First public bids for fob diesel cargoes in NWE The northwest European diesel market has seen the first ever bids for fob cargoes on a public platform, as fob ARA trade has grown in importance for the region since the exclusion of Russian products by EU and UK sanctions.

1 December Spot east-west VLSFO spread halves in late November Singapore's fob very low sulphur fuel oil (VLSFO) premium over northwest Europe halved in late November, with demand for bunkers in the city state subdued.

1 December Houston Ship Channel partially closed due to fog The Houston Ship Channel partially closed at 5:30am ET today because of dense fog, halting inbound traffic in the first such closure of the region's fog season.

30 November China boosts refiners' fuel oil access Beijing has issued a surprise new batch of fuel oil import quotas...

30 November Gunvor adds newbuild tanker to its bitumen fleet International trading firm Gunvor has added a 17,779 deadweight tonne (dwt) newbuild bitumen tanker to its global fleet under what is probably a long-term charter arrangement.

30 November Singapore middle distillates stocks slip Singapore's middle distillates stocks inched lower to a five-week low following increased gasoil and jet fuel exports from the city-state.

29 November US Gulf coast MR tanker rates at all-time highs Lengthening Panama Canal transit delays have pressured Medium-Range (MR) tanker rates to record highs, prompting shipowners to remain in the US Gulf coast market and gain leverage in deals for Pacific-bound voyages that involve spiraling costs to transit the canal.

29 November US gasoline, diesel prices continue to fall: EIA Average US retail gasoline and diesel prices continued to fall during the last full week of November, according to the data from the Energy Information Administration (EIA).

29 November Spanish marine fuel sales at Algeciras rose in October Sales of marine fuels from Spain's largest port and bunker hub Algeciras turned higher on the year in October after falling in September, although total Spanish marine fuel demand continued to see sharp falls from 2022.

29 November Mideast Gulf refiners negotiate jet, gasoil term deals Mideast Gulf refiners are negotiating term jet fuel and gasoil supply deals for 2024, but different views on market prices are complicating the discussions.

29 November ExxonMobil Fawley's new hydrotreater to run from 2024 ExxonMobil's 270,000 b/d Fawley refinery in southern England will bring a new unit online next year — believed to be a hydrotreater — to boost low-sulphur diesel production by 40pc, the company told Argus today.

29 November Kuwait's al-Zour refinery now eyes mid-December restart Kuwaiti refiner Kipic has said it will take another two weeks to restart the new 615,000 b/d al-Zour refinery after the plant ran to a near halt two weeks ago.

28 November ZIM reroutes ships from Arabian and Red seas Israel-based container shipping company ZIM is diverting some of its vessels transiting the Arabian and Red seas and adding war risk insurance premiums.

28 November Large gas carrier newbuild orders rise Orders for very large ethane carriers (VLECs) and LNG carriers led the newbuild market in the week to 19 November, with orders totalling 544,000m³.

28 November Maersk sells stake in Hoegh Autoliners Danish shipping giant Moller-Maersk has sold 20mn shares in Norway's Hoegh Autoliners, cutting its stake in the firm to zero, according to an Oslo Stock Exchange filing.

28 November Sri Lanka approves China's Sinopec refinery proposal Sri Lanka has approved Chinese state-owned Sinopec's proposal to build a refinery at Sri Lanka's Hambantota district on 27 November.

27 November New Panama Canal auctions aimed at record waits The Panama Canal Authority (ACP) began new special auctions last week for vessels without reservations that have been waiting for at least ten days to transit the Panamax locks, following record delays in recent weeks.

27 November TotalEnergies Port Arthur refinery restarts TotalEnergies restarted units at its 238,000 b/d Port Arthur, Texas, refinery, on 23 November.

27 November Dry bulk dominates secondhand vessel market Dry bulk vessels made up the lion's share of deals in secondhand markets in the week to 19 November, with 27 sold compared with nine tanker deals, according to brokers.

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25/03/14

Plastics Europe urges de-escalation in trade tensions

London, 14 March (Argus) — Industry association Plastics Europe has urged a de-escalation in ongoing trade tensions between the EU and the US, following the inclusion of polyethylene (PE) among products proposed by the European Commission for retaliatory tariffs. "The imposition of tariffs, particularly on industrial goods such as plastics, will disrupt supply chains, raise costs for businesses, and negatively impact consumers on both sides of the Atlantic," said Plastics Europe's managing director, Virginia Janssens, on 13 March. "We urge both the EU and U.S. to prioritise diplomatic solutions to avoid escalating trade tensions further." The European Commission on 12 March begun consultations on imposing countermeasures to US tariffs of 25pc on EU and other imports of steel, aluminium and related products. Other products include high-density polyethylene (HDPE), low-density PE (LDPE) and linear LDPE (LLDPE), according to a European Commission document listing the products proposed for retaliatory tariffs. The European Commission did not publish the specific level of proposed tariffs, noting that a formal legal proposal will follow consultation with industry and member states. But a senior EU official noted that "25pc might be a good number". The retaliatory tariffs, if approved by EU member states, will be implemented from 13 April. The US is a key global supplier of PE, with exports totalling around 14.2mn t in 2024. PE exports from the US to the EU in 2024 stood at 2.1mn t, forming around 15pc of the export share. The EU is a net importer of HDPE and LLDPE. This week's developments caught many market participants by surprise. There was no immediate impact on prices as many participants opted for a wait-and-see approach. The European PE market has been grappling with an uncertain demand outlook given weak underlying economic conditions. An imposition of import tariffs could help support domestic European PE production, but there are widespread concerns of these resulting in higher prices for consumer goods and adversely affecting future demand prospects. And higher costs of inputs could further hurt competitiveness of European finished goods in the global markets. Plastics Europe called for "collaborative efforts to resolve this dispute in a manner that protects industry, jobs, and consumers in both the U.S. and Europe." By Sam Hashmi Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Açúcar: Mudança tributária abre espaço diplomático

25/03/13

Açúcar: Mudança tributária abre espaço diplomático

Sao Paulo, 13 March (Argus) — A isenção das importações de açúcar no Brasil é avaliada como uma tentativa de demonstrar aos Estados Unidos disposição em realizar acordos comerciais com o país, após o governo norte-americano sinalizar a possibilidade de aumentar as tarifas sobre alguns produtos brasileiros . Ao retirar as tarifas sobre o açúcar, o Brasil abre espaço para negociar a possibilidade de manutenção das tarifas de etanol, de acordo com Renato Cunha, presidente da Associação dos Produtores de Açúcar, Etanol e Bioenergia das regiões Norte e Nordeste (NovaBio). Etanol e açúcar são mercados correlatos no Brasil e as negociações dos dois costumam estar interligadas. Ambos são derivados da cana-de-açúcar e a produção de um produto ocorre em detrimento do outro. O governo brasileiro anunciou em 6 de março a eliminação dos impostos para importações de itens considerados essenciais, como o açúcar, milho, azeite, café e óleo de soja, com o intuito de reduzir os preços dos alimentos, em meio à aceleração da inflação. No caso do açúcar, o efeito sobre a inflação tende a ser limitado. O Brasil – maior produtor e exportador mundial de açúcar – é autossuficiente na produção do adoçante e as importações representam volumes mínimos no mercado. O Brasil exportou cerca de 33,5 milhões de t em 2024, alta de 23,8pc em comparação com 2023, a partir de uma produção de 42,4 milhões de t na safra 2023-24, de acordo com a Unica. Vantagens competitivas do açúcar brasileiro Mesmo que a isenção de tarifas para importar açúcar – que antes eram de até 14pc – facilite a abertura de novos mercados e crie eventuais oportunidades para os consumidores brasileiros, o produto nacional ainda é mais barato, pelos custos de produção mais baixos em relação a outros países. Os custos para produzir açúcar no Brasil são de aproximadamente 15¢/lb (equivalente a R$1,92/kg), enquanto na Tailândia – segundo maior exportador de açúcar – eles estão próximos de 21,5¢/lb, segundo participantes de mercado. Na Índia e Austrália, terceiro e quarto maiores exportadores, os custos são de aproximadamente 22,4¢/lb e 18,3¢/lb, respectivamente. Para que haja uma redução efetiva dos preços do açúcar, é necessária uma revisão nos custos de toda a cadeia produtiva até as gôndolas do mercado, disse José Guilherme Nogueira, presidente da Organização de Associações de Produtores de Cana do Brasil (Orplana). Para Nogueira, é importante se atentar a fatores além da produção, como custos de frete e seguro, áreas passíveis de atuação do governo. Como a produção é suficiente para o consumo nacional e há um grande volume excedente, o açúcar brasileiro acaba sendo majoritariamente exportado, sem o mercado externo representar efetivamente uma concorrência para o consumidor brasileiro. O preço do açúcar cristal branco registrou uma média de R$155,3/ saca de 50kg em janeiro - ou $24,9/sc na paridade de exportação, com a cotação média do dólar norte-americano a R$6,02 – segundo o indicador do Centro de Estudos Avançados em Economia Aplicada (CEPEA/Esalq). Em janeiro de 2024, os preços no mercado nacional estavam R$145,04/sc, em média, e $29,5/sc, considerando uma taxa cambial média de R$4,91. Isso mostra que mesmo com o dólar mais alto neste ano, o mercado doméstico de açúcar segue remunerando mais que o mercado externo, em comparação com o mesmo período no ano passado. Por Maria Albuquerque Envie comentários e solicite mais informações em feedback@argusmedia.com Copyright © 2025. Argus Media group . Todos os direitos reservados.

Nigeria's port authority raises import tariffs

25/03/13

Nigeria's port authority raises import tariffs

London, 13 March (Argus) — The Nigerian Ports Authority (NPA) has raised tariffs by 15pc on imports "across board", taking effect on 3 March, according to a document shown to Argus . The move comes as the independently-owned 650,000 b/d Dangote refinery continues to capture domestic market share through aggressive price cuts, pushing imported gasoline below market value in the country. Sources said that Dangote cut ex-rack gasoline prices to 805 naira/litre (52¢/l) today, from between 818-833N/l. The rise in NPA tariffs may add on additional cost pressures onto trading houses shipping gasoline to Nigeria, potentially affecting price competitiveness against Dangote products further. The move would increase product and crude cargo import costs, according to market participants. But one shipping source said the impact would be marginal as current costs are "slim", while one west African crude trader noted that the tariffs would amount to a few cents per barrel and represent a minor rise in freight costs. Port dues in Nigeria are currently around 20¢/bl, the trader added. One shipping source expects oil products imports to continue to flow in, because demand is still there. Nigeria's NNPC previously said the country's gasoline demand is on average around 37,800 t/d. Over half of supplies come from imports, the country's downstream regulator NMDPRA said. According to another shipping source, Dangote supplied around 526,000t of gasoline in the country, making up over half of product supplied. The refinery also supplied 113,000t of gasoil — a third of total total volumes in the country — and half of Nigeria's jet at 28,000t. By George Maher-Bonnett and Sanjana Shivdas Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

US lube industry wary of tariffs uncertainty

25/03/13

US lube industry wary of tariffs uncertainty

London, 13 March (Argus) — The uncertainty around US tariffs could weigh on demand for finished lubricant and base oil, trade body ILMA told Argus . US President Donald Trump has decreed a 25pc tariff on steel and aluminium imports from Canada, a key import source for these materials used in auto manufacturing. The US sources about 70pc of its aluminium imports and around 23pc of its steel imports from its northern neighbour. ILMA chief executive Holly Alfano said the White House recognises that the uncertainty surrounding tariffs "creates a challenging business environment". "A slowdown in auto sales and production due to tariffs could lead to reduced demand for these products," Alfano told Argus. "Manufacturers may postpone investments or expansion plans due to unpredictable costs and market conditions," she said. "If vehicle prices rise due to increased production costs, consumer demand may decline, leading to further reductions in automotive output and associated lubricant consumption." Automotive vehicle production forecasts have fallen to 15.5mn in 2025 since the tariff announcement, down by 250,000 vehicles from the prior estimate by AutoForecast Solutions. This would put output broadly in line with 2024 , stifling growth in finished lubricant demand. US government data show car sales fell by 5pc in 2024, and finished lubricant sales dropped 6pc over the same period. Although lubricant sales are not entirely correlated with new car sales, Alfano noted the auto sector is "a significant consumer of finished lubricants". As it stands the tariffs on steel and aluminium will not now be implemented until 2 April. The White House has said this is to "allow for the flow of parts and sub assembly products into America, to allow American car manufacturers to continue building cars." The US administration is scheduled to host Canadian and Ontario officials today to discuss a possible easing in tariffs. If these talks yield no progress, and if a month is insufficient for supply chains to be reorganised, the tariffs could stunt automotive manufacturing and in turn lubricants needed for these new vehicles. Ontario premier Doug Ford has cautioned the 25pc tariffs could halt the auto manufacturing industry in as little as 10 days. While the US is self-sufficient in terms of its Group II base oils, it is a net importer of Group III, with only 4pc nameplate capacity, and both are key to automotive lubricant production. The US is an importer of Canadian Group III base oils from Petro-Canada's 4,000 b/d plant in Mississauga, Ontario. By Gabriella Twining Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Экспортная пошлина на нефть в Казахстане в марте выросла

25/03/13

Экспортная пошлина на нефть в Казахстане в марте выросла

Riga, 13 March (Argus) — Ставка экспортной пошлины на нефть в Казахстане в марте увеличилась до $78/т с $77/т — в феврале. Среднее значение котировок сорта Kebco (cif Аугуста) и Североморского датированного в период мониторинга цен с 20 декабря по 20 февраля составило $78/барр. по сравнению с $77/барр. — в период предыдущего мониторинга, по данным министерства финансов Казахстана. С сентября 2023 г. ежемесячная ставка пошлины на экспорт нефти и нефтепродуктов в Казахстане меняется при изменении средней мировой цены на $1/барр. вместо прежних $5/барр. в пределах диапазона $25—105/барр. При средней рыночной цене нефти $25—105/барр. размер ставки вывозной таможенной пошлины рассчитывается по следующей формуле: ВТП=Ср*К, где ВТП — размер ставки вывозной таможенной пошлины на нефть и нефтепродукты в долларах США за тонну; Ср — средняя рыночная цена нефти за предшествующий период; К — поправочный коэффициент 1. При значении средней рыночной цены на нефть до $25/барр. размер ставки вывозной таможенной пошлины равен нулю. При цене свыше $105/барр. применяются ставки вывозной пошлины в диапазоне от $115/т до $236/т. Средняя рыночная цена определяется министерством финансов Казахстана ежемесячно на основании мониторинга котировок Kebco и Североморского датированного в течение двух предыдущих месяцев. Полученный результат мониторинга в соответствии с поправками математически округляется до целого числа. ________________ Больше ценовой информации и аналитических материалов о рынках нефти и нефтепродуктов стран Каспийского региона и Центральной Азии — в еженедельном отчете Argus Рынок Каспия . Вы можете присылать комментарии по адресу или запросить дополнительную информацию feedback@argusmedia.com Copyright © 2025. Группа Argus Media . Все права защищены.

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