Bio-bunker prices rangebound in Rotterdam and Singapore

COSCO picks up Hong Kong’s biggest stem yet

Wallenius Wilhelmsen takes first Yokohama stem

Rotterdam

Rotterdam’s B30-VLSFO HBE price has dropped by a marginal $4/mt on the week, and is now priced $201/mt over pure VLSFO.

This price difference is on an outright basis, without the impacts of EU ETS and FuelEU Maritime added to the prices, and without energy conversions.

The biofuel blend has fallen under pressure from $2/mt decline in the ENGINE pure VLSFO price and a $19/mt drop for POMEME assessed by PRIMA Markets. A $3/mt decline in the Dutch HBE rebate for advanced B30 blends countered these two downward pressures, but only slightly.

The port’s B30-LSMGO HBE held broadly steady on the week amid a $6/mt gain for pure LSMGO.

Prices for B30-VLSFO and -LSMGO UCOME – which don’t qualify for HBE rebates – are down by $7/mt and $1/mt, respectively. A $19/mt fall in PRIMA’s UCOME price led the declines.

UCOME prices have come off in a quiet market, PRIMA says, adding that European producer margins are still weak.

Lauritzen Bulkers bunkered a time-chartered vessel with B20-VLSFO in Gibraltar. The fuel was supplied by global marine fuel supplier Peninsula and delivered via the Hercules Sky bunker tanker. Lauritzen said it faces challenges in securing small fuel parcels for its time-chartered vessels.

B24-VLSFO is currently priced at a steep $844/mt in Gibraltar, which is $125-132/mt above the same grade in Fujairah and Singapore.

Singapore

B24-VLSFO and -LSMGO prices are down by $3-4/mt in Singapore amid a steady UCOME price and $4-6/mt declines for pure VLSFO and LSMGO.

The wholesale UCOME FOB China price assessed by PRIMA Markets has held at $1,090/mt and freight from China to Singapore has ticked up by $0.50/mt to $18.50/mt.

In Hong Kong, Chimbusco Pan Nation (CPN) delivered a 5,500 mt B24-VLSFO blend to a container ship operated by COSCO Shipping Lines. This was the biggest biofuel stem yet in Hong Kong, as well as in the greater China region, CPN confirmed. Last year, it delivered more than 44,000 mt of biofuels in Hong Kong.

Wallenius Wilhelmsen bunkered a vessel with a first B24-VLSFO stem in Japan’s Port of Yokohama. The stem was supplied by Mitsubishi.

Container liner Ocean Network Express (ONE) has entered into a partnership with Japan's Yusen Logistics to offer biofuel-powered green freight services. Yusen will be able to sell Scope 3 emission reductions, which are greenhouse gas emissions from an organisation's value chain, including activities not directly owned or controlled by the organisation. These are voluntary emissions reductions.

By Erik Hoffmann

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