Bio-LSMGO prices come off with gasoil

Lunar New Year slows trading

POMEME and UCOME prices markedly up

Rotterdam

Rotterdam’s HBE-rebated B30-VLSFO price has gone up in the past week, drawing support from a substantial $22/mt rise in the palm oil mill effluent methyl ester (POMEME) price assessed by PRIMA Markets. A $5/mt uptick for pure VLSFO also contributed to give rise to the B30 blend price, as did a $2/mt reduction in the PRIMA-assessed HBE rebate.

The port’s B30 HBE LSMGO price has moved slightly the other way, shedding $2/mt under pressure from an $11/mt drop in pure LSMGO.

ARA UCOME B30-VLSFO has gained on a $22/mt bump for ARA UCOME barges, assessed by PRIMA.

ARA UCOME B30-LSMGO is down slightly on the week, again with downward pressure from that $11/mt decline in pure LSMGO.

Rotterdam’s B30 HBE price premiums over VLSFO has widened by $3/mt to $190/mt, and over LSMGO by $9/mt to $152/mt, in the past week.

Singapore

Singapore’s B24-VLSFO and B24-LSMGO benchmarks are both down on the week.

Falling VLSFO, and especially LSMGO, values in Singapore are behind the drops, while the PRIMA-assessed UCOME FOB China price has been steady. A meagre $0.75/mt drop in a relevant freight rate from China to Singapore has done little to slow the B24 declines.

There was less trading activity in East Asia going into the Lunar New Year holiday. Many traders in Singapore, China and other places were on leave or winding down.

Singapore’s B24 premiums over pure VLSFO and LSMGO have been roughly steady in the past week, at $141/mt for VLSFO and $113/mt for LSMGO.

By Erik Hoffmann

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