Marine Fuel Global Weekly Market Update
11.22.2023 By Tank Terminals - NEWS

November 22, 2023 [Argus]- A weekly Argus news digest of interest to the conventional and alternative marine fuel markets.


Alternative marine fuels

17 November Andritz sells renewable liquid methanol plant to Japan Austrian engineering group Andritz will supply a methanol liquefaction plant to Japanese unbleached kraft pulp producer Hyogo Pulp Industries, with a production start date of July 2025.

17 November Trinidad’s ammonia, methanol output slip in Aug Trinidad and Tobago’s ammonia and methanol production declined in August, reflecting the Caribbean country’s falling natural gas output, according to data from the energy ministry.

17 November EU biodiesel imports dip in September: GTT A slowdown in arrivals from China weighed on total EU biodiesel imports for September, with volumes from other key sources remaining steady, provisional GTT data show.

17 November China sets out framework for domestic biodiesel trials China’s National Energy Administration (NEA) is promoting domestic biodiesel trials, it announced in a policy document this week, and is asking provinces and cities eager to become the first demonstration zones to submit applications by 30 November.

16 November Petrobras, Danish firm consider e-methanol plant Brazil’s state-controlled oil company Petrobras signed an initial agreement with Denmark’s European Energy to evaluate projects such as developing an e-methanol plant in Brazil.

16 November OCI delivers second shipment of bio-ammonia to Rohm Dutch nitrogen fertilizer and ammonia producer OCI Global has supplied 800t of bio-ammonia to German methacrylate manufacturer Rohm, for production of methyl methacrylate (MMA).

16 November QatarEnergy’s LNG carriers to be delivered in 2027-29 QatarEnergy’s order for 17 LNG carriers from South Korean shipbuilder Hyundai Heavy Industries (HHI) is set to deliver between the first quarter of 2027 and the third quarter of 2029, according to French LNG storage tank supplier GTT.

16 November EU considers fines for ships’ scrubber residues The European parliament’s transport committee voted to extend the bloc’s rules — including dissuasive fines — beyond oil spills, to include discharge from ships of exhaust scrubbers residues as well as sewage and waste.

15 November EU ETS poses exposure issues to shipping: OceanScore The European Union’s emissions trading system (EU ETS), a cap and trade scheme designed to decrease CO2 emissions in covered sectors over time, could increase shipping companies’ financial exposure, according to ETS data management services firm OceanScore.

15 November Topsoe supplies to Australian green ammonia plant Denmark-based renewable technology provider Topsoe has signed a deal with Australian developer Allied Green Ammonia to supply its technology for a planned green ammonia plant.

14 November TotalEnergies scenarios see oil use plateauing to 2030 TotalEnergies still has oil demand plateauing until 2030 in two scenarios looking at the potential evolution of global energy systems, while natural gas retains a transition fuel role into 2050.

14 November Jordan signs nearly 1.5mn t/yr green ammonia projects Jordan has signed preliminary agreements with four companies to produce nearly 1.5mn t/yr of green ammonia in the country.

14 November South Korea’s HHI receives order for two LNG carriers South Korean shipbuilder Hyundai Heavy Industries (HHI) has secured an order for two LNG carriers from an unnamed African shipping company.

14 November Japan’s Mol delivers LNG-fuelled coal carrier to Kyushu Japanese shipping firm Mitsui OSK Lines (Mol) has commissioned a LNG-fuelled coal carrier to transport imported coal to fuel power plants operated by Kyushu Electric Power.

13 November UK biomass strategy faces legal challenge on Beccs The UK government is being taken to court by environmental non-governmental organisation (NGO) Lifescape Project over its plans to use bioenergy with carbon capture and storage (Beccs) to help achieve net zero emissions.

13 November Spanish biodiesel demand continues decline Spanish biodiesel consumption continued to decline in September, as challenges mount from double-counted imports and hydrotreated vegetable oil (HVO).


Conventional marine fuels

20 November ExxonMobil to add Australian diesel, gasoline storage ExxonMobil will add 150mn litres (945,000 bl) of gasoline and diesel storage to its import terminal in Melbourne, Australia, as part of a commitment to improve the nation’s fuel security.

17 November Up to 3pc HSFO, MGO marine fuel off-spec Up to 3pc of global high-sulphur fuel oil (HSFO) and marine gasoil (MGO) was found to be off-specification, according to a study by bunker trader Integr8 over the past six months.

17 November Mediterranean diesel staying out of long-term storage Commercial tank farm operators in the Mediterranean region say demand for diesel remains high, with very little entering any form of longer term storage.

17 November Spain product imports dropped in September Spanish imports of oil products dropped to a 33-month low in September, falling further than exports and pushing product inventories lower ahead of autumn refinery maintenance.

17 November UAE, Saudi imports of Russian HSFO fall in October The UAE and Saudi Arabia imported significantly lower volumes of Russia-origin high-sulphur fuel oil (HSFO) in October compared with the previous month, while both countries boosted their own exports of the fuel.

16 November Ecuador pauses blackouts after rainfall Ecuador will suspend its 1-2 hours of electricity rationing starting on 17-19 November because of a slight improvement in rainfall supporting output at the country’s two largest hydroelectric plants, the energy ministry said.

16 November US fuel oil widens premium to crude on thin supply US low-sulphur fuel oil (LSFO) prices have widened their premiums to Brent crude futures as supplies tighten to record lows for the month of November.

16 November French October diesel deliveries slump French road fuel demand was marginally lower last month compared with the same period of 2022, driven by a drop in diesel deliveries.

16 November Kuwait says enough oil stocks to cover al-Zour shutdown Kuwaiti refiner Kipic said it has enough oil product stocks to meet its obligations to customers while it works on restarting the 615,000 b/d al-Zour refinery after the plant ran to a near halt following a technical malfunction late last week.

16 November German winter diesel supply extremely tight at ARA The amount of German winter diesel on offer at the Amsterdam-Rotterdam-Antwerp (ARA) hub has been shrinking and premiums for prompt delivery have soared, as disruption at German refineries has coincided with a seasonal transition to a specification that is more expensive to produce.

15 November Panama bunker sales fall on vessel restrictions Panama bunker sales fell by 4.5pc in October from the prior year on lower demand for very low-sulphur fuel oil (VLSFO) and marine gasoil (MGO) as well as restrictions that decreased vessel traffic.

15 November Greece reports diesel imports from Turkmenistan Greek customs data show the country’s diesel import patterns continue to shift as it looks for alternatives to Russian product, although the official figures are at odds with ship tracking.

14 November Ecuador diverts fuel oil to power generation Bunker fuel stocks have tightened in Ecuador, with fuel oil supplies being directed to power generation as drought conditions hamper the country’s hydroelectric plants.

14 November Japan’s bonded bunker sales remain weak in September Japan’s bonded marine fuel sales in September continued to fall compared with a year earlier, pressured by weaker spot enquiries and supply cuts because of refinery disruptions.

13 November ARA-Singapore VLSFO spread hits 16-month high The spread between delivered very-low sulphur fuel oil (VLSFO) prices in Singapore and the Amsterdam-Rotterdam-Antwerp (ARA) bunkering hub has doubled since the start of October, with supply issues in Singapore and lacklustre demand in northwest Europe.

13 November Europe switches Mideast Gulf HSFO import sources in Oct Europe imported high-sulphur fuel oil (HSFO) from a different set of Mideast Gulf countries in October than in September, as cooling season comes to an end and Kuwait continues to have production issues at some refineries.


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