- In the first quarter of 2024, Rotterdam witnessed a surge in bio-bunker sales, while Dutch biofuel rebates remained steady.
- Conversely, Singapore’s B24-VLSFO and B24-LSMGO UCOME benchmarks experienced a decline in prices despite a $5/mt increase in UCOME FOB China.
The global maritime industry is witnessing significant shifts in bio-bunker prices, with both Singapore and Rotterdam experiencing notable changes in the first quarter of 2024. As demand for biofuels fluctuates, key bunker ports are adjusting their pricing strategies, leading to contrasting trends in the market. This article provides insights into the recent developments in biofuel bunker prices in Singapore and Rotterdam, highlighting the implications for stakeholders in the maritime sector.
Singapore
Singapore’s B24-VLSFO price drop surpassed Rotterdam’s B30 VLSFO HBE price decline, resulting in Singapore’s B24-VLSFO flipping to a slight discount compared to Rotterdam’s B30-VLSFO. The premium of B24-VLSFO over pure VLSFO narrowed by $23/mt to $71/mt, reflecting a significant shift in price dynamics within the region.
Rotterdam
Rotterdam’s B30-VLSFO HBE price decreased by $6/mt, while its B30-LSMGO HBE price slightly increased. Despite the decline in prices, Rotterdam remains an attractive option for bio-bunkering, with lucrative rebates making it more favorable compared to other ports. Bio-bunker sales in Rotterdam reached their highest levels since the fourth quarter of 2022, indicating sustained demand despite price fluctuations.
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Source: Engine Online
