Roughly steady B30-VLSFO prices across ports

Upward pressure from VLSFO, downward from POMEME barges

Structural Chinese UCOME overhang weighs on cargo price

Europe

B30-VLSFO prices were broadly flat in Rotterdam and softened slightly in Gibraltar, despite a sharp rally in conventional VLSFO.

Rotterdam’s VLSFO has jumped $45/mt higher to $750/mt over the week, and Gibraltar’s has followed a similar trajectory, rising by $28/mt to $770/mt.

What kept Rotterdam’s B30-VLSFO price in check was a slide in the biofuel component. Prima Markets' POMEME CIF ARA barge assessment has dropped by $31/mt to $1,643/mt, unwinding gains from the prior week's spike towards $1,674/mt.

The divergence between fossil and bio components effectively cancelled out, leaving the blended product flat. Buyers stemming B30-VLSFO in the ARA may find this a favourable window given the widening discount of the bio component.

Asia

Singapore’s B30-VLSFO has held steady, again masking a move underneath.

The port’s pure VLSFO price firmed modestly, while Prima Markets' UCOME FOB China cargo assessment eased $25/mt lower to $1,220/mt — the first meaningful move after weeks of rangebound trading around $1,245/mt.

The dip in Chinese UCOME feedstock pricing suggests some supply-side relief, which is keeping the B30-VLSFO premium over conventional VLSFO contained for now. Whether UCOME continues to soften could be the key variable for Singapore B30-VLSFO buyers to look at over the coming weeks.

Prima Markets reports that Chinese UCOME demand remains sluggish, with sellers withholding offers and no trades closing at recent sessions. The arbitrage into Europe stays shut on the back of EU anti-dumping duties, which is keeping surplus volumes bottled up in Asia and weighing on FOB China pricing.

By Erik Hoffmann

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