Biofuel Bunker Snapshot: B30-VLSFO prices gain

Rotterdam and Singapore B30-VLSFO premiums over VLSFO rise

Slight gain for Rotterdam's B100 price

GAP to claim emission reductions from Maersk voyages

Europe

Rotterdam’s ZRE A-rebated B30-VLSFO (POMEME) price has risen by $23/mt in the past week.

The Dutch port’s conventional VLSFO price has made a smaller $6/mt gain over the same period.

Rotterdam’s B30-VLSFO price premium over VLSFO has gained $17/mt to $269/mt.

After the conflict broke out in the Middle East and disrupted oil and gas flows through the Strait of Hormuz, Rotterdam's B30-VLSFO premium over pure VLSFO contracted from $250/mt to as low as $128/mt in mid-March, before gradually recovering to current levels.

Gibraltar’s B30-VLSFO (UCOME) price has gained $53/mt and is at a $36/mt discount to Lisbon’s B30-VLSFO price.

Meanwhile, Rotterdam’s B30-LSMGO (POMEME) price has gained $76/mt, supported partly by a $50/mt rise in Rotterdam’s conventional LSMGO price. The Dutch port offers a $222/mt discount to Portugal’s Lisbon and a $171/mt discount to Greece’s Piraeus.

B100 in Rotterdam is now priced at $1,340/mt, up $10/mt from last week. ENGINE has recorded two B100 stems fixed at $1,318-$1,333/mt in the last week.

Prima Markets-assessed UCOME and POMEME FOB barge prices have edged up by $4/mt to $1,603/mt and $1,673/mt, respectively.

Rotterdam’s B100 is priced $548/mt cheaper than Lisbon’s.

Asia

Singapore’s B30-VLSFO (UCOME) price has increased by $62/mt.

The port’s conventional VLSFO price has edged only $5/mt higher. Singapore’s B30-VLSFO price premium over VLSFO has widened by $57/mt in the past week.

The Prima-assessed China UCOME cargo price, which is connected to the B30-VLSFO blend price in Singapore, has remained unchanged at $1,215/mt. 

In other biofuel news, US-based clothing retailer GAP said it will continue to pay A.P. Moller-Maersk for low-emission shipping on European trade lanes. Maersk will bunker some of its vessels with biofuel or bio-methanol blends and allocate credits equivalent to the greenhouse gas (GHG) emission reductions to GAP and other cargo owners through a book-and-claim model.

By Nachiket Tekawade

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