- Biofuel prices in Singapore and Rotterdam saw mixed trends over the past week. Due to shifts in underlying prices and market dynamics, there were significant price variations between different blends.
- Singapore’s biofuel premiums widened slightly, while Rotterdam’s biofuel prices reflected a mix of declines and increases, influenced by rebate structures and underlying market factors.
Biofuel markets in Singapore and Rotterdam experienced notable price fluctuations this week, driven by changes in underlying conventional fuel prices, regional supply dynamics, and government rebate policies, reports Engine.
Singapore Biofuel Market
B24-VLSFO UCOME: Decreased by $3/mt.
B24-LSMGO UCOME: Dropped sharply by $15/mt, attributed to a $20/mt decline in conventional LSMGO prices.
UCOME Price Trend
PRIMA Markets assessed UCOME FOB China at $1,015/mt, up by $5/mt, driven by stronger UCO prices in China.
B100 Biofuel Prices are indicated at $1,289/mt, supplied primarily by Vitol via chemical tankers capable of delivering B100.
Premium Trends
B24-VLSFO UCOME: $140/mt premium over pure VLSFO.
B24-LSMGO UCOME: $115/mt premium over pure LSMGO, reflecting a $1-$5/mt widening in biofuel premiums.
Rotterdam Biofuel Market
B30-VLSFO HBE: Decreased by $3/mt.
B30-LSMGO HBE: Dropped significantly by $17/mt.
HBE Ticket Price increased to €15.25/GJ ($16.10/GJ), equating to a theoretical rebate of $143/mt for B30-VLSFO HBE, up $11/mt from the previous week.
Premium Adjustments
B30-VLSFO HBE: Premium narrowed by $6/mt to $180/mt over pure VLSFO.
B30-LSMGO HBE: Premium widened by $2/mt to $139/mt over pure LSMGO.
UCOME-Based Biofuels
B30-VLSFO UCOME: Price increased by $9/mt, influenced by higher PRIMA UCOME FOB ARA prices.
Premium over rebated B30-VLSFO HBE widened from $126/mt to $138/mt.
UCOME-based biofuels remain more expensive due to ineligibility for Dutch advanced biofuel rebates, unlike POMEME-based biofuels.
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Source: Engine
