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ENGINE on Fuel Switch Snapshot: Gas no longer looks good

Bunker fuel prices rise across the board; VLSFO supply becomes tighter in Singapore; LNG now $24-62/mt costlier than LSMGO.

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ENGINE on Fuel Switch Snapshot: Gas no longer looks good

Once a week, bunker intelligence platform ENGINE will publish a snapshot of alternative and conventional bunker fuel prices in the world’s two biggest bunkering hubs. The following is the latest snapshot:

  • Bunker fuel prices rise across the board
  • VLSFO supply becomes tighter in Singapore
  • LNG now $24-62/mt costlier than LSMGO

The VLSFO-equivalent LNG now commands a premium of $108/mt over VLSFO in Rotterdam, and $86/mt over VLSFO in Singapore.

Rotterdam’s LNG bunkers is priced at a $24/mt premium over its LSMGO. This significant increase from the $1/mt premium seen last week can largely be attributed to a sharp increase for LNG. In Singapore, LNG is at an even bigger $62/mt premium over LSMGO.

Dual-fuel ships can now bunker either VLSFO or LSMGO at a lower cost than fossil LNG in Singapore and Rotterdam. HSFO remains the cheapest alternative for scrubber-fitted ships in both ports.

LNG’s discount to B24-VLSFO (HBE) in Rotterdam has narrowed from $71/mt to $55/mt in the past week.

Conversely, Singapore LNG’s discount to its B24-VLSFO has widened by $9/mt to $39/mt during the same period.

If we include estimated costs for EU Allowances (EUAs), B24-VLSFO is only $33/mt more expensive than LNG in Singapore, and $44-50/mt more expensive in Rotterdam.

VLSFO

Singapore and Rotterdam’s VLSFO benchmarks have gone up and defied a $15/mt drop in front-month ICE Brent futures over the past week.

The ARA region has seen slightly more VLSFO demand over the past week compared to the previous one, according to a source. This has exerted upward pressure on the port’s VLSFO benchmark, pushing it $15/mt higher.

VLSFO cargoes have been in short supply in Singapore, two sources said. Tight barge availability has also contributed to tighten VLSFO bunker supply in the port, a source said. Lead times of up to 10-13 days are now recommended by several suppliers. Some suppliers can deliver stems with shorter lead times, but these stems are usually priced higher.

This tight supply has driven Singapore’s VLSFO price $27/mt higher over the past week, and it has come despite the decline in Brent.

Biofuels

Rotterdam’s B24-VLSFO HBE bunker price has made a solid gain of $14/mt on the week, supported by increases for both POMEME biofuel and conventional VLSFO.

PRIMA Market’s POMEME CIF ARA price has risen by $13/mt, while ENGINE’s conventional VLSFO price has come up by $15/mt.

Singapore’s B24-VLSFO price has increased by $21/mt, following a $27/mt rise in the underlying ENGINE conventional VLSFO price and a steady bio-component price.

For the bio component of the B24-VLSFO blend, PRIMA Market’s underlying UCOME FOB China price has held steady at $960/mt. The freight rate from China to Singapore for an MR tanker has come off by $1.75/mt.

LNG

Rotterdam’s LNG bunker price has surged by $30/mt in the past week. The underlying Dutch TTF Natural Gas contract has rolled over from the September to the higher-priced October contract, which has contributed to a rise in the TTF benchmark.

Rotterdam’s LNG price has also been boosted by disruptions in gas supply due to infrastructure maintenance at Norway’s Troll gas field.

Singapore’s LNG bunker price has climbed by $12/mt in the past week. This increase is largely attributed to high LNG demand from China and Japan, driven by unusually hot weather.

By Konica Bhatt

 

Photo credit and source: ENGINE
Published: 3 September, 2024

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Methanol

World Fuel and partners complete first green methanol bunkering of car carrier in Shanghai

Operation involved the delivery of approximately 2,800 MT of green methanol to “Arctic Tern” via a ship-to-ship transfer using SIPG Energy’s dedicated methanol bunkering vessel “M/V Hai Gang Zhi Yuan”.

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World Fuel and partners complete first green methanol bunkering of car carrier in Shanghai

Marine fuel provider World Fuel on Tuesday (21 July) said it successfully completed the first green methanol bunkering of M/V Arctic Tern, with EUKOR Car Carriers and SIPG Energy at the Port of Shanghai. 

Arctic Tern is the first vessel in the new Shaper Class series of car carriers. 

The operation involved the delivery of approximately 2,800 MT of green methanol to Arctic Tern via a ship-to-ship transfer using SIPG Energy’s dedicated methanol bunkering vessel M/V Hai Gang Zhi Yuan, the largest vessel of its kind in operation. 

The bunkering operation was carried out at Haitong Terminal, Waigaoqiao Port Area, Shanghai Port, with cargo handling operations conducted simultaneously during bunkering.

This marks EUKOR Car Carriers’ first green methanol operation and the first time Arctic Tern has bunkered methanol since its delivery on 9 July. The operation marked the first bunkering at Shanghai Port of green methanol produced locally in Shanghai for an international PCTC operator. 

It also demonstrated the city’s integrated green methanol value chain, spanning local production, storage and bunkering, and established a replicable “Shanghai Model” for green methanol supply.

World Fuel arranged the supply and delivery of the fuel on behalf of EUKOR Car Carriers, working with SIPG Energy as the physical supplier at the Port of Shanghai.

The green methanol supplied was produced from municipal solid waste, ISCC-EU certified, and had a carbon intensity value below 25 gCO₂e/MJ.

Arctic Tern is the first of fourteen Shaper Class vessels ordered by Wallenius Wilhelmsen. With a capacity of 9,300 car equivalent units and methanol dual-fuel capability, the vessel will be operated by EUKOR Car Carriers, jointly owned by Wallenius Wilhelmsen and Hyundai Motor Group. Following her first green methanol bunkering, Arctic Tern will continue her maiden voyage from Asia to Europe.

Xavier Leroi, COO Shipping Services at Wallenius Wilhelmsen and CEO of EUKOR Car Carriers, said: “Completing Arctic Tern’s first green methanol bunkering shortly after delivery is a significant milestone towards our decarbonisation ambition for both EUKOR Car Carriers and Wallenius Wilhelmsen. It demonstrates how investments in next-generation vessel technology and fuel flexibility are being translated into real-world operations. 

“This achievement reflects the strong collaboration between all parties involved. Together, we have shown how partnerships across the maritime value chain can help make lower-emission fuels available and operationally viable at scale.”

Mark Tamsitt, SVP Global Marine Sales at World Fuel, said, “The first bunkering event with a new fuel is a significant moment for any shipowner, and our role is to make it as seamless as possible. By connecting EUKOR Car Carriers with SIPG Energy’s proven green methanol capability at the Port of Shanghai, we were able to deliver on reliable supply, fuel quality, and safe processes. As more of our customers bring methanol dual-fuel tonnage into service, we are committed to being the partner that makes these kinds of operations routine.”

Mr. Zhang Da, General Manager of SIPG Energy, said, “Welcoming Arctic Tern to the Port of Shanghai for her first green methanol bunkering demonstrates the strength and maturity of our supply capability. Building on our well-established methanol ship-to-ship bunkering services for container vessels, we have already extended such services to pure car and truck carriers (PCTCs). This bunkering sets a new record for the largest single SIMOPs green methanol bunkering for PCTCs in China, marking another step in building Shanghai’s position as a global green energy hub for international shipping.”

This operation follows Wallenius Wilhelmsen’s announcement on 9 July that Arctic Tern would complete her first methanol bunkering shortly after delivery. The vessel entered service on routes between Asia and Europe immediately following handover from China Merchants Jinling Shipyard in Nanjing.

 

Photo credit: World Fuel
Published: 22 July, 2026

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Ammonia

HPA and MB Energy develop safety concept for STS ammonia bunkering

HPA says the Port of Hamburg will become “bunker ready” for ammonia, laying the groundwork for safe and reliable ammonia bunkering in the future.

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HPA and MB Energy develop safety concept for STS ammonia bunkering

The Hamburg Port Authority (HPA) and integrated energy company MB Energy on Tuesday (21 July) said they have completed a comprehensive risk analysis and developed a dedicated safety concept for ship-to-ship ammonia bunkering.

MB Energy said the analysis lays the groundwork for the safe introduction of ammonia as a future marine fuel.

“With our planned ammonia import terminal in Hamburg-Blumensand, MB Energy intends to provide the reliable land side supply infrastructure needed to support this transition across northern German ports,” it said in a social media post. 

Mabanaft Group was renamed to MB Energy last year and merged over 50 existing brands under one identity. 

Separately, HPA said the Port of Hamburg will become “bunker ready” for ammonia, laying the groundwork for safe and reliable ammonia bunkering in the future.

“The focus is in particular on container ships, cruise ships as well as RoRo and ConRo (Container/RoRo) ships,” it said. 

“We expect ammonia to establish itself as an alternative marine marine fuel in the coming years. With our preparatory work, we are already creating the conditions to welcome the first ammonia-powered ships in Hamburg and to bunker them safely.:

HPA added that the import terminal for ammonia planned by MB Energy from 2029 will make a decisive contribution to ensuring the reliable availability of ammonia as a bunker fuel in northern German ports in the long term. 

“The use of an ammonia bunker barge is considered a possible addition to the landside infrastructure to enable ship bunkering in the port and beyond in the future,” it said.

Related: Mabanaft Group renames as MB Energy, merging over 50 brands under one identity

 

Photo credit: Hamburg Port Authority
Published: 22 July, 2026

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LNG Bunkering

PIL’s LNG dual-fuel boxship “Kota Elok” arrives in Singapore on maiden call

As the first of 13 new 13,000 TEU vessels joining its fleet, Kota Elok is equipped to operate on LNG and low-sulphur fuel oil that helps reduce our greenhouse gas emissions.

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PIL's LNG dual-fuel boxship “Kota Elok” arrives in Singapore on maiden call

Singapore-based Pacific International Lines Pte Ltd on Monday (20 July) said its first 13,000 TEU LNG dual-fuel container vessel, Kota Elok, recently made her maiden call to Singapore on 15 July.

As the first of 13 new 13,000 TEU vessels joining its fleet, Kota Elok is equipped to operate on liquefied natural gas (LNG) and low-sulphur fuel oil that helps reduce our greenhouse gas emissions. 

The vessel also incorporated energy-saving features and digital technologies to reduce fuel consumption and enhance operational performance, as well as a bow windshield to improve aerodynamics, contributing to improved fuel efficiency and lower emissions over the course of long-haul voyages.

“Following Singapore, Kota Elok will continue her voyage on our East Coast Service 1 (ES1) route to South America, calling at ports in Brazil, Uruguay, and Argentina before returning to Asia,” the company said in a social media post. 

Kota Elok also became PIL’s first vessel to receive Lloyd’s Register certification for compliance with the IACS UR E26 and UR E27 cyber security requirements.

Developed by the International Association of Classification Societies (IACS), UR E26 and UR E27 are mandatory cyber resilience requirements for newbuild vessels contracted from 1 July 2024. 

 

Photo credit: Pacific International Lines
Published: 21 July, 2026

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