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Fuel Switch Snapshot

Track alternative fuel prices against conventional fuels, so you know when to make the switch.

Fuel Switch Snapshot

[Example snapshot from March 2024]

Despite the EU Emissions Trading System’s (EU ETS) tax on carbon, burning HSFO, VLSFO or LSMGO and paying for the CO2 they emit still pays off when bio-blended alternatives are priced as high as they are today. However, as time goes on and penalties increase, the switch to alternative fuels becomes a question of when, not if.

ENGINE’s weekly Fuel Switch Snapshot provides an apples-to-apples comparison of bunker fuels on the market, so you can consider not only the outright price of the fuels, but also how far you can sail on them and what you will pay to burn them on EU-linked voyages.

Once a week, you will receive a snapshot of alternative and conventional bunker fuel prices in the world’s two biggest bunkering hubs. The prices will come adjusted for calorific contents – the bang for your buck – and with costs of emitting CO2 in the EU both included and excluded. This is to illustrate not just the effect of EU ETS on pricing, but also give you the best possible generalised comparison tool in these fast-changing times.

Subscribe to receive the report every week for free via the form. You can unsubscribe at any time.

 

 

ENGINE X achieves ISCC certification to trade sustainable biofuels

Global bunker trading firm ENGINE X has been certified by the renowned International Sustainability and Carbon Certification (ISCC) system to trade sustainable biofuels. 

The maritime industry is in the early days of a major decarbonisation effort, and when shipowners burn lower-carbon fuels they need to prove to regulators that these do indeed have lower emissions than full fossil ones.

A way to prove that a ship has been running on a more sustainable fuel is to show a Proof of Sustainability (PoS) to a verifier. A PoS must be issued by ISCC-certified (or cross-compliant) companies throughout the supply chain to keep it intact. Otherwise the chain is broken and emission reductions cannot be verified.

“ENGINE X is now all set to offer sustainable biofuels with Proof of Sustainability that our customers can show to verifiers to prove their emission reductions. This will be massively important for shipowners in the years and decades ahead, as the industry goes greener. We have mapped out dozens of bunker suppliers selling sustainable biofuels in ports around the world, to help clients identify trustworthy and legitimate sources for biofuel bunkering,” ENGINE X Supply Manager Sid Mishra says.

Make your compliance count

2024 marks the first year that ship emissions will be taxed in the EU. The least laborious way to rein in emissions and pay less for them is to burn sustainable biofuels, which qualify for a carbon factor of zero in the EU. This means that shipowners don’t have to pay to burn them.

But if you can’t prove that a biofuel is sustainable, you will have to pay full oil-emission price for it. It’s a question of cost-savings. Shipowners that opt to buy more expensive biofuels need to be able to prove to regulators that these fuels are actually sustainable, so that their decarbonisation efforts count towards their compliance record.

 

For further information or media-related queries, please contact:

Sid Mishra
Supply Manager
ENGINE X
Email: siddharth.m@engine-x.com
Phone: +65 9739 9507

 

Seizing bunker market opportunities
using data

Description

Geopolitical events, evolving industry regulations and fuel availability are all challenges that bunker buyers must navigate. In this 50 minute webinar, our experts discuss how shipowners and bunker buyers can leverage ENGINE’s historical and live market data to their advantage. Topics covered include:

• Global price trends and how they have impacted bunker purchasing
• How some popular bunkering ports can become less competitive on price
• Bunker fuel quality and why it should influence buying strategies
• How to look up trends and port-specific ENGINE news stories to keep on top of the market, and more

Speakers

Anton Shamray has been involved in developing ENGINE from the start, building on his experience as a research analyst, bunker buyer and petroleum surveyor. His past projects include developing a bunker pricing algorithm, fuel quality analytics, helping in the IMO2020 transition and improving bunker buying processes, among others.

Journalist and Content Manager Erik Hoffmann writes about the shipping and marine fuel industries and was a Senior Reporter for Argus Media. As the force behind ENGINE’s news desk, Erik’s team reports reliable and timely information about the global bunker markets.

Higher bunker prices result in 50% more claims

Higher bunker prices are resulting in 50% more claims

The ENGINE analyst desk investigates:

  • All-time high bunker prices lead to a sharp increase in bunker claims, surpassing the previous high seen during the IMO2020 transition
  • More claims in a high-price environment can result in much higher financial losses
  • Higher water content in fuel oil and an increase in VLSFO viscosity seen amid a lack of blending components

 

A Practical Guide to Marine Fuel Hedging

Description

With fuel prices experiencing increased volatility in an ever-changing world, how do ship owners best navigate their way around this? Our expert panel engage in a wide-ranging discussion on the oil markets, marine fuel hedging and the various strategies that can be employed to help manage pricing risk. Topics covered during this 45-minute session include:

  • Recent trends in the oil markets and an introduction to fuel hedging
  • IMO2020 changes, HSFO, VLSFO, and how this has impacted hedging activities
  • Practical considerations when it comes to hedging and basis risk
  • Views on the effectiveness of hedging and common pitfalls

Our speaking panel consists of global freight and commodity derivatives brokers, Freight Investor Services, leading fuel management services provider Integr8 Fuels, and ENGINE’s in-house experts.