Rotterdam B100’s discount to VLSFO nears $100/mt

EU regs tip the scale in LBM’s favour

Rotterdam’s LNG flips to discount to LSMGO

All bunker prices mentioned below have been adjusted for calorific contents to make them VLSFO-equivalent. They have estimated EU compliance costs for EU–EU voyages included. These account for EU ETS costs and FuelEU Maritime penalties, and our estimated compliance surplus values for FuelEU pooling. Rotterdam's B100 and LBM prices also factor in Dutch HBE rebates for advanced liquid and gaseous biofuels sold in the Netherlands.

EU regulations have made bunkering 100% biofuel (B100) and liquefied biomethane (LBM) in Rotterdam significantly more economical than their respective fossil alternatives in the past week.

Rotterdam’s B100’s discount to VLSFO has widened by a massive $63/mt, to $97/mt.

B100 has also become the more cost-effective option for scrubber-fitted vessels bunkering in Rotterdam, with the benchmark flipping from a $3/mt premium to a $66/mt discount against HSFO in the past week.

For dual-fuel shipowners weighing their options, liquefied biomethane (LBM) is currently the most cost-effective bunker fuel alternative in Rotterdam.

LBM is priced $251–291/mt lower than fossil LNG, depending on a vessel’s methane slip - ranging from 3.1% (Otto medium-speed engines) to 0.2% (diesel slow-speed engines).

LBM is also $196–331/mt cheaper than VLSFO, and $97–232/mt cheaper than B100 in the port.

Liquid fuels

Rotterdam’s VLSFO benchmark has risen by $16/mt over the past week, a smaller gain than the $23/mt increase in front-month ICE Brent futures. Availability of the grade remains tight, with lead times currently around seven days.

The port’s B100 price has surged $47/mt higher over the past week. PRIMA Markets assessed the Dutch HBE rebate for B100 at $390/mt on Thursday, up $2/mt from the previous week.

“Increased buying interest reported in the Dutch HBE market saw 2024 and 2025 ticket prices continue to rise on Thursday,” PRIMA reported.

Singapore’s VLSFO benchmark has increased by $12/mt. Lead times have widened to 8–12 days, up from 7–10 days last week.

Liquid gases

Rotterdam’s LNG bunker price has remained almost unchanged, with a modest $4/mt gain in the past week.

The port's LNG benchmark remains more expensive than VLSFO when used in Otto MS engines, though its premium over VLSFO has narrowed slightly - from $109/mt to $95/mt. But for vessels with diesel SS engines, LNG now stands at a $78/mt discount to VLSFO.

Meanwhile, Rotterdam's LNG has shifted from a $3/mt premium over LSMGO to a $15/mt discount - when the LNG is used in Otto MS engines.

Singapore’s LNG price has increased by $11/mt. The benchmark now stands at a $117/mt premium over VLSFO and a $41/mt premium over LSMGO in the port. These premiums include estimated EU compliance costs for Singapore–EU voyages.

By Konica Bhatt

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