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ENGINE on Fuel Switch Snapshot: Singapore overtakes Rotterdam as biggest bio-bunker port

LNG now costs $100/mt more than VLSFO; bio-premiums narrow in Rotterdam; Dutch biofuel rebates for B30 surpass $100/mt.
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ENGINE on Fuel Switch Snapshot: Singapore overtakes Rotterdam as biggest bio-bunker port

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:

28 October, 2024

  • LNG now costs $100/mt more than VLSFO
  • Bio-premiums narrow in Rotterdam
  • Dutch biofuel rebates for B30 surpass $100/mt

LNG bunker prices have increased by $19–22/mt in Singapore and Rotterdam over the past week, pushing price premiums over VLSFO to over $100/mt in both ports.

Rotterdam’s VLSFO-equivalent LNG grade is now $118/mt more expensive than VLSFO. This is without estimated EU Allowance (EUA) costs included in the price. With EUA costs the premiums are lower at $107–113/mt.

In Singapore, LNG costs $100/mt more than VLSFO without EUAs, and $95/mt more with EUAs.

Rotterdam LNG’s discount to its B24-VLSFO HBE blend has narrowed by $26/mt over the past week, to $46/mt.

The LNG-biofuel price gap is smaller in Singapore, where VLSFO-equivalent LNG is $32/mt cheaper than B24-VLSFO UCOME.

Singapore has surpassed Rotterdam to become the world’s largest biofuel bunker hub. Rotterdam sold 137,000 mt of bio-blended bunkers in the third quarter of this year, about 40% less than the 227,000 mt sold in Singapore during the same period.

Singapore’s B24-VLSFO UCOME is priced around $22/mt higher than the rebated B24-VLSFO HBE price in Rotterdam, which includes POMEME-based biofuels.

In contrast, Rotterdam’s B24-VLSFO UCOME is about $55/mt more expensive than its Singapore equivalent, as UCOME blends do not qualify for Dutch advanced biofuel rebates.

VLSFO

Rotterdam’s VLSFO price has remained unchanged over the past week, caught between constrained supply and softened demand. Fuel availability has tightened across all grades in the broader ARA region.

But lower demand has put downward pressure on Rotterdam’s VLSFO price, amidst a $2.99/bbl ($22/mt) rise in the front-month ICE Brent futures contract.

Singapore’s VLSFO has gained $11/mt in the past week. VLSFO availability in the port remains tight, with recommended lead times of around 13 days. Some suppliers can accommodate stems with shorter lead times of about four days, but these are usually priced higher.

Biofuels

Singapore’s B24-VLSFO UCOME price has risen by $11/mt over the past week, driven up by increases in prices for conventional VLSFO and used cooking oil methyl ester (UCOME). PRIMA Markets assessed the UCOME FOB China benchmark at $970/mt on Friday, up by $20/mt from the week prior.

Rotterdam’s B24-VLSFO HBE price has declined by $7/mt, while its B24-LSMGO HBE price has climbed by $22/mt in the past week.

The Dutch Advanced HBE ticket price for B30-VLSFO HBE blends has moved beyond $100/mt in the past week. This increases the theoretical rebates that suppliers can pass on to traders and buyers.

LNG

Rotterdam’s LNG bunker price has climbed by $19/mt in the past week. As temperatures dipped, European buyers began securing additional LNG to meet seasonal needs, pushing prices higher, said ING’s Warren Patterson.

Singapore’s LNG bunker price has risen by $22/mt in the past week. Japan, South Korea and other major Asian importers ramped up their LNG imports last week. This has driven prices up across neighbouring markets, including Singapore.

By Konica Bhatt

 

Photo credit and source: ENGINE
Published: 29 October, 2024

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Technology

Singapore: Ofiniti, ONE trial direct platform integration to streamline bunker workflows

Ofiniti started a trial in Singapore, integrating FuelBoss directly with a bunker buyer’s own platform, with Ocean Network Express as its first buyer-side integration partner.

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July 22, 2026

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Singapore: Ofiniti, ONE trial direct platform integration to streamline bunker workflows

Ofiniti, the digital platform for maritime fuel operations, on Tuesday (21 July) said it has started a trial in Singapore, integrating FuelBoss directly with a bunker buyer’s own platform.

The company announced Singapore-headquartered container shipping firm Ocean Network Express (ONE) as its first buyer-side integration partner. 

“It is no coincidence we start in Singapore, as the Maritime and Port Authority of Singapore (MPA) remains at the forefront of digitalisation of all things bunkering,” the company said in a social media post.

In November 2023, MPA launched its digital bunkering platform, becoming the world’s first port to implement e-BDN. 

Ofiniti said every bunker delivery still runs on retyped data. 

“The buyer’s system says one thing, the supplier says another, and someone reconciles the gap by email, phone, or PDF. On every stem,” the company said. 

“We built FuelBoss to change this reality.”

With the integration, operational data now flows without manual re-entry, fewer reconciliation errors and faster processing and data, instead of documents, are readily available for procurement and claims workflows. 

“One connection will not transform the industry on its own, but digitalisation gets built one integration at a time. We are grateful to ONE for being willing to go first,” Ofiniti added.

Manifold Times previously reported ONE completing its successful trial of the electronic Bunker Delivery Note (e-BDN) with Shell. 

The e-BDN trial, using the digital bunkering solution developed by Angsana Technology, was conducted on 9 September 2023 at the Port of Singapore, with support from the MPA.

In March 2025, Ofiniti acquired Singapore-based Angsana Technology, with the entire Angsana team joining Ofiniti as part of the acquisition.

Related: MPA Chief Executive: Port of Singapore begins digital bunkering initiative today
Related: Singapore set to become first port in the world to debut electronic bunker delivery notes
Related: ONE completes e-BDN adoption trial with Shell in Port of Singapore
Related: Ofiniti acquires Singapore-based Angsana Technology to advance digital bunkering solutions

 

Photo credit: Ofiniti
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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July 21, 2026

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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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LNG Bunkering

CIMC SOE secures order for 12,000-cbm LNG bunkering vessel from Sinopec Clean Energy

Once operational, the vessel is expected to strengthen Sinopec’s domestic coastal LNG bunkering network and help address gaps in China’s alternative fuel bunkering infrastructure.
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July 21, 2026

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CIMC SOE secures order for 12,000-cbm LNG bunkering vessel from Sinopec Clean Energy

China’s Nantong CIMC Sinopacific Offshore & Engineering Co., Ltd. (CIMC SOE) recently signed a contract with Sinopec (Beijing) Clean Energy Co., Ltd. to build a 12,000-cubic metre (m3) LNG bunkering vessel, according to Chinese maritime media.

The vessel is scheduled for delivery in 2028 and will support Sinopec’s efforts to expand its presence in the marine clean energy sector.

Once operational, the vessel is expected to strengthen Sinopec’s domestic coastal LNG bunkering network and help address gaps in China’s LNG bunkering infrastructure.

With this signing , CIMC Pacific Offshore Engineering’s LNG bunkering vessel orderbook is further strengthened, maintaining its leading position in the global market for small and medium-sized LNG bunkering vessels.

The contract also marked another milestone for CIMC SOE, which has seen a sharp increase in orders and business performance this year amid a surge in domestic LNG vessel demand.

 

Photo credit: Nantong CIMC Sinopacific Offshore & Engineering
Published: 21 July, 2026

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