B100 HBE rebate surges nearly $130/mt since 1 August

HBE surge puts pressure on Rotterdam B100

Singapore’s LNG–VLSFO spreads rise $10–11/mt

All bunker prices mentioned below have been adjusted for calorific contents to make them VLSFO-equivalent. They have estimated EU-EU voyage compliance costs included for Rotterdam, and non-EU-EU compliance costs included for Singapore. 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.

Soaring Dutch rebates have helped soften Rotterdam’s bio-bunker prices over the past month.

The Dutch HBE rebate for marine B100 has surged by a whopping $129/mt since 1 August, according to Prima Markets. This rise appears to have pushed Rotterdam’s B100 bunker price sharply lower by $95/mt to $1,100/mt over the same period.

Rotterdam’s B100 discount to VLSFO has widened further by $4/mt to $179/mt. Its discount to LSMGO, however, has slightly narrowed by $6/mt to $325/mt.

B100’s discount to LNG in Rotterdam has also widened by a modest $2/mt to $110–218/mt, depending on vessel’s LNG engine type.

In Singapore, B100’s premium over VLSFO has increased by $12/mt to $464/mt.

Liquid fuels

Rotterdam’s VLSFO price has increased by $8/mt in the past week. Availability of all fuel grades is stable in the ARA bunkering hub this week. Buyers are advised to enquire about stems 3-4 days in advance for LSMGO, and 5-7 days in advance for VLSFO and HSFO, to secure good coverage from suppliers.

Singapore’s VLSFO price has decreased by $10/mt, while its B100 price has inched up by $1/mt over the past week.

Conventional fuel bunker demand in Singapore has been good so far this week, according to a source. VLSFO delivery times now vary significantly by supplier — some can meet orders within eight days, while others require bookings nearly two weeks in advance. This marks a tightening from last week’s 8–11-day range.

Liquid gases

Rotterdam’s LNG and liquefied biomethane (LBM) bunker prices have both risen by $8/mt each over the past week.

LBM’s discount to LNG has remained almost unchanged over the past week, at $153–167/mt.

Singapore’s LNG bunker price has edged up by $1/mt in the past week.

For dual-fuel vessels bunkering in Singapore, LNG–VLSFO spreads have moved $10–11/mt higher from last week. LNG is now priced at a $70/mt premium over VLSFO for ships with Otto medium-speed engines, and at a $15/mt discount for slow-speed engines.

By Konica Bhatt

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