In Singapore, bio-bunker prices have dropped due to lower UCOME FOB China prices and declines in VLSFO and LSMGO values. Rotterdam biofuel prices fell amid reduced POMEME CIF ARA prices and rebates, reports engine.online.
Singapore
Singapore’s B24-VLSFO UCOME price has shed $9/mt in the past week, while its B24-LSMGO UCOME price has declined by a greater $13/mt.
The two bio-bunker prices have declined amid a drop in the underlying UCOME FOB China price. PRIMA Markets assessed the UCOME FOB China benchmark at $950/mt on Friday, down by $20/mt on the week.
Declining values of pure VLSFO ($5/mt) and LSMGO ($11/mt) have also contributed to the decline in both biofuel benchmarks.
Rotterdam
Rotterdam’s B30-VLSFO HBE and B30-LSMGO HBE prices have declined by $10-11/mt in the past week, partly because of a $15/mt drop in the in the underlying PRIMA’s POMEME CIF ARA price.
The rebate has now risen to a level of $90/mt last seen in April for B30-VLSFO HBE, making bunkering of POMEME-based biofuel blends even more attractive in Dutch ports as these blends qualify for Dutch advanced biofuel rebates.
Rotterdam’s B30-VLSFO UCOME and B30-LSMGO UCOME prices have decreased by a marginal $4-5/mt in the past week. The B30-VLSFO UCOME price premium over B30-VLSFO HBE has widened by $6/mt to $84/mt. UCOME-based biofuel blends don’t qualify for Dutch advanced biofuel rebates.
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Source: Engine.online
