Biofuel prices in Singapore and Rotterdam have declined, with Singapore’s drop less significant than Rotterdam’s. Price premiums over conventional fuels have widened slightly in Singapore but narrowed in Rotterdam, reports Engine.online.
Singapore
Singapore’s B24-VLSFO UCOME price has dropped by $11/mt in the past week, while its B24-LSMGO UCOME price has shed $4/mt. A $19/mt decline in the underlying ENGINE conventional VLSFO price has contributed to driving down Singapore’s B24-VLSFO UCOME price.
The decline in two biofuel benchmarks in Singapore has been less significant compared to Rotterdam. PRIMA Markets assessed the UCOME FOB China benchmark at $970/mt on Friday, an increase of $15/mt over the week, which has prevented bio-bunker prices in Singapore from falling further.
Biofuel price premiums over pure conventional fuels in Singapore are $120/mt for B24-VLSFO UCOME blends and $110/mt for B24-LSMGO UCOME blends. These bio premiums have widened by $6-8/mt on the week.
Rotterdam
Rotterdam’s B30-VLSFO HBE price has declined by a sharper $26/mt over the past week, while its B30-LSMGO HBE price has declined more moderately, dropping by $14/mt, nearly half the decrease seen in B30-VLSFO HBE.
PRIMA Market’s palm oil mill effluent methyl ester (POMEME) CIF ARA price has declined by $34/mt to $1,302/mt in the past week. This, coupled with a $23/mt decline in the underlying ENGINE conventional VLSFO price, has dragged the B30-VLSFO HBE price lower.
Rotterdam’s B30-VLSFO HBE premium over pure VLSFO has narrowed by $3/mt in the past week to $182/mt, while its B30-LSMGO HBE premium over LSMGO has narrowed by $8/mt to $148/mt.
UCOME-based biofuel prices in Rotterdam have also declined in the past week. The B30-VLSFO UCOME price has decreased by $26/mt to $765/mt, while the B30-LSMGO UCOME price has dropped by $14/mt.
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Source: Engine.online
