Biofuel Bunker Snapshot: B30-VLSFO prices rise on VLSFO gains

B30-VLSFO prices surge higher in major ports

Lisbon’s B30-VLSFO at $114/mt premium over Gibraltar

EU considers excluding soy biofuels from renewables targets

Europe

Rotterdam’s B30-VLSFO (POMEME) price has moved $23/mt higher over the last week, supported by a $14/mt increase in the port’s VLSFO price.

In the neighbouring Belgian port of Antwerp, the B30-VLSFO (UCOME) price has increased $37/mt over the last week, while the port’s VLSFO price has increased by $12/mt.

Prima Markets' assessed ARA POMEME and UCOME barge prices have dipped by just $1/mt over the last week.

Antwerp’s B30-VLSFO price now holds a $110/mt premium over Rotterdam’s, widening by $14/mt in a week.

Gibraltar’s B30-VLSFO (UCOME) price has gained $32/mt in the last week. The port has been affected by rough weather since last week. Bunkering queues have increased, with around 38 vessels waiting for bunkers on Friday morning, port agent MH Bland said.

B30-VLSFO has been priced at $931/mt in Lisbon, up $52/mt over the week and it is $114/mt more expensive than in Gibraltar. The Portuguese port has also faced weather disruptions which are restricting calls for vessels above 30,000 gross tonnes. Pilotage via Cascais unlikely to resume before 5 February, a supplier said.

South America

In Brazil’s Rio Grande, the converted B30-VLSFO price has surged $82/mt higher. This has increased its premium over the conventional VLSFO offered in the port by $40/mt.

I has also widened Rio Grande's premium over Rotterdam's B30-VLSFO price by $59/mt in a single week.

Singapore and Fujairah

Singapore’s B30 VLSFO (UCOME) price has gained by a significant $35/mt. This roughly tracks a $27/mt increase in the conventional VLSFO price in the port.

Prima Markets’ China UCOME cargo price - a proxy for Singapore's UCOME import costs - has remained unchanged over the week.

Singapore’s discount to Fujairah has remained relatively steady at around $20/mt, as Fujairah’s B30-VLSFO price has also made a considerable rise, of $39/mt.

In other bio-bunkering news, the EU is considering excluding soy-based biofuels from counting towards EU renewable targets, as new research has suggested it results in high indirect land-use change.

By Nachiket Tekawade

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