Fuel Switch Snapshot: Bunkering B100 becomes cheaper in Rotterdam

Rotterdam B100 almost $400/mt below LSMGO

Bio-bunker premiums narrow in Singapore

FuelEU pooling values for B100 and LBM rise

All bunker prices mentioned below have been adjusted for calorific contents to make them VLSFO-equivalent. They have estimated EU-EU voyage compliance costs included for Rotterdam, and non-EU-EU compliance costs included for Singapore. These account for EU ETS costs and FuelEU Maritime penalties, and our estimated compliance surplus values for FuelEU pooling. Rotterdam's B100 and LBM prices also factor in Dutch HBE rebates for advanced liquid and gaseous biofuels sold in the Netherlands.

Rotterdam’s B100 discounts to HSFO and VLSFO have widened by $16/mt and $22/mt over the past week, taking them to $154/mt and $173/mt, respectively.

B100 now stands at a $398/mt discount to LSMGO in Rotterdam, after a $35/mt increase in the LSMGO price widened the spread by $27/mt on the week.

The deeper discounts have sweetened the theoretical advantage for vessels sailing between EU ports and generating compliance surpluses from using B100.

The ENGINE-assessed pooling value for bunkering B100 in Rotterdam has risen to $768/mt, up $59/mt on the week.

Meanwhile, Singapore’s bio-bunker premiums over conventional fuels have eased.

B100 now holds $498/mt and $416/mt premiums over HSFO and VLSFO, respectively, down by $36/mt and $46/mt on the week. Its premium over LSMGO has narrowed by $48/mt to $197/mt.

Liquefied biomethane’s (LBM) discount to VLSFO in Rotterdam has widened by $26–27/mt over the past week, to $138–280/mt, depending on engine type and methane slip.

LBM’s theoretical pooling value has edged $3–4/mt higher, with Rotterdam’s LBM now estimated to generate $671/mt in an Otto medium speed (Otto MS) engine, and $812/mt in a diesel slow speed (diesel SS) engine – which has a lower default methane slipin FuelEU Maritime.

Liquid fuels

LSMGO prices have continued to rise in Rotterdam (+$35/mt) and Singapore (+$18/mt) over the past week.

So far this month, LSMGO has climbed $75/mt higher in Rotterdam and $39/mt higher in Singapore, supported by stronger diesel prices amid renewed Western sanctions targeting Russia’s shadow fleet and third-party oil buyers.

VLSFO prices have also increased over the week, by $30/mt in Rotterdam and $16/mt in Singapore. Meanwhile,

Rotterdam’s B100 price has edged up by $8/mt, mostly supported by higher POMEME and UCOME barge prices and a $35/mt decline in Dutch HBE rebates. POMEME’s premium over ARA UCOME barges widened to $80/mt last Friday.

In contrast, Singapore’s B100 price has fallen by $30/mt over the past week.

Liquid gases

Rotterdam’s LNG price has gained $29–30/mt on the week, while Singapore’s LNG price has gained by $12/mt.

LNG is currently priced at $31/mt and $41/mt premiums over VLSFO in Rotterdam and Singapore when consumed in an Otto MS engine. But when the LNG is consumed in diesel SS engines, its price flips to a whopping $108/mt discount to VLSFO in Rotterdam, and a smaller $28/mt discount in Singapore.

Rotterdam's LNG has risen $26/mt against LBM in the past week. It now holds a $171–175/mt premium over LBM, depending on vessel engine type and its methane slip.

By Konica Bhatt

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