Biofuel Bunker Snapshot: B30-VLSFO prices fall across Europe and Asia

Rotterdam’s B30-LSMGO discount to Piraeus narrows sharply

Verde Marine launches ARA biofuel supply

Exxon trials B30-VLSFO produced from distillation residue

Europe

Rotterdam’s B30-VLSFO (POMEME) price has dropped $34/mt in the last week. This drop comes despite an $11/mt gain in the Dutch port’s VLSFO price.

The B30-VLSFO price premium over conventional VLSFO has dropped $45/mt during the last week.

The Prima Markets-assessed POMEME barge price has gained $12/mt during the last week.

Suppliers in Dutch ports can generate ZRE A tickets by supplying low-carbon fuels like biodiesel. The price of these tickets has remained unchanged at €110/mtCO2e ($126/mtCO2e) over the last week.

Gibraltar’s B30-VLSFO (UCOME) price has fallen by $87/mt during the last week. A $50/mt decrease in the port’s conventional VLSFO price may have weighed on the blend price. Rotterdam’s B30-VLSFO discount to Gibraltar has narrowed by $53/mt.

Rotterdam’s B30-LSMGO (POMEME) price has decreased by $50/mt, while its conventional LSMGO price has edged only $3/mt lower. The B30-LSMGO price premium over conventional LSMGO has narrowed by $47/mt.

Piraeus' B30-LSMGO price has declined $121/mt. A $171/mt slump in the port’s LSMGO price has probably weighed on the blend price.

Rotterdam’s B30-LSMGO price discount to Piraeus has narrowed by $71/mt in a week.

Asia

Singapore’s B30-VLSFO (UCOME) price has dropped $64/mt in the past week. The port’s conventional VLSFO price, meanwhile, has increased by $21/mt.

The diverging movements have narrowed Singapore’s biofuel premium by around $85/mt in a single week, to $111/mt.

In other biofuel bunker news, US oil major ExxonMobil and Nordic shipping company Wallenius Wilhelmsen have completed their first sea trial of a B30-VLSFO blend produced from fatty acid methyl ester (FAME) distillation residue.

Dutch bunker supplier Verde Marine Energy started physical biofuel bunker operations in the ARA region with its first B100 delivery. Verde bunkered the Vertom-owned cargo vessel Beautriton with 100% FAME-based biofuel (B100), using its time-chartered bunker barge.

Norwegian vessel operator G2 Ocean has launched a biofuel insetting programme open to any company reporting supply chain emissions. G2 Ocean will bunker some of its vessels with biofuel blends and allocate certificates for the resulting greenhouse gas (GHG) emissions reductions from those voyages to cargo owners and other buyers through a book-and-claim model.

By Nachiket Tekawade

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