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Argus Media: B100 seen attractive shipping fuel option after MEPC 83

Global biodiesel demand is likely to strengthen in the near-term following the emergence of clearer international pricing standards for GHG emissions, according to panellists at a Singapore conference.

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More buyers in the shipping sector will consider biofuel blends of up to B100 now a greenhouse gas (GHG) pricing mechanism has been laid out by the International Maritime Organization (IMO), according to panellists at the Argus Biofuels & Feedstocks Asia Conference.

25 April 2025

Global biodiesel demand is likely to strengthen in the near-term following the emergence of clearer international pricing standards for GHG emissions, they said.

“B100 seems to have great momentum based on the [83rd Marine Environment Protection Committee] MEPC meeting,” said French certification society Bureau Veritas’ VeriFuel global business development director Bill Stamatopoulos. MEPC 83 is “a clear indication that we have to work together and work fast” because there is a cost penalty for not switching away from conventional marine fuels, said Danish tanker owner Hafnia’s general manager of project and fleet sustainability, Pankaj Porwal.

Most maritime participants welcomed the two-tier GHG pricing framework approved by the IMO at MEPC 83 from 7-11 April, which is a key milestone as the maritime sector pushes for decarbonisation.

Biofuels like B24, B30, and B100 will gain more interest because of cost-savings for buyers when switching to cleaner fuels, said Singapore bunker supplier Equatorial Marine Fuel’s (EMF) chief operating officer Choong Sheen Mao. B24 is 24pc of used cooking oil methyl ester (Ucome) blended with 76pc of conventional fuel, such as very-low sulphur fuel oil (VLSFO), while B100 is pure biodiesel not blended with fossil fuels.

Panellists said bunkering B100 would provide significant advantages for ships with voyages in EU waters, where firms can “pool” multiple vessels within the EU Emissions Trading System (ETS) and FuelEU Maritime Regulation to balance compliance surpluses and deficits. But vessel shipowners would need to be “absolutely sure” of the amount of fuel required for the voyage, to avoid any unknown consequences if excess biofuels were mixed with other fuel types, said Hafnia’s Porwal.

The GHG pricing mechanism gives bunker buyers a “strong indication” of the cost of not switching to alternative marine fuels and this will drive biodiesel demand as buyers realise “they need to get involved in some way”, said EMF’s Choong, adding that suppliers can consider selling biodiesel if it is “commercially viable”.

There will be a minimum cost of compliance in adhering with IMO decarbonisation targets, but smaller shipowners should start running trials and “building quality control systems for your marine fuels so you’re prepared to take on greener fuels”, said International Bunker Industry Association (IBIA) Asia chair Rahul Choudhuri.

“At the moment hedging is very much focused on VLSFO and gasoil… but as exposures change and regulations change, we’ll see more instruments being used to counter [trading risks],” said shipbroker Braemar oil derivatives broker Rebecca Reed-Sperrin. As the decarbonisation mandates grow, “hopefully liquidity increases tremendously” for marine biofuels, she said.

Challenges

Panellists cited several barriers in the widespread uptake of biofuels in the shipping sector, such as availability of Ucome feedstock, controversies regarding feedstock origin, and limited biodiesel shelf life compared to conventional marine fuels.

Fuel pricing and costs associated with bunkering biofuels surfaced as key concerns. International regulations are complex and buyers have to assess “what is [the] real price” taking into account IMO regulations, said Bureau Veritas’ Stamatopoulos.

Charterers and tanker operators face difficulties in securing a price without hidden costs involved, Italian ship owner Fratelli Cosulich biofuel trading advisor Sebastiaan Bruins. B100 is available but suppliers are not actively selling it as buying interest has been limited, Bruins said.

China will be a “dominant force” for B100 supplies because of a larger Ucome volume, and market developments would depend on how China portions domestic and export volumes of Uco, said Choong.

Long-term uptake agreements for biofuel with major shipowners would be important in scaling up biofuel bunker supplies, said Indonesian state-owned refiner PT Pertamina’s marine fuels trading manager Justin Tan. Bunker buyers need to signal their interest regarding biofuels “so we know where to start too”, he said.

The maritime sector is still looking at a multifuel future since the supply of “Ucome alone cannot meet shipping’s needs”, said Danish tanker owner Maersk senior green fuel originator Felicia Ng.

By Cassia Teo

 

Photo credit and source: Argus Media
Published: 28 April, 2025

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Alternative Fuels

ENGINE on Fuel Switch Snapshot: LSMGO surges to greater premium over biofuel

B100 discount to LSMGO widens to $541/mt in Rotterdam; Singapore’s B100 drops to $106/mt below LSMGO; Rotterdam LBM at $639-833/mt discounts to LSMGO.

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ENGINE on Fuel Switch Snapshot: LSMGO surges to greater premium over biofuel

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:

20 July 2026

  • B100 discount to LSMGO widens to $541/mt in Rotterdam
  • Singapore’s B100 drops to $106/mt below LSMGO
  • Rotterdam LBM at $639-833/mt discounts to LSMGO

B100’s premium over HSFO in Rotterdam has narrowed by $50/mt over the past week to $64/mt, while its discount to VLSFO has widened by $83/mt to $105/mt.

B100 has become far more competitive against LSMGO in Rotterdam, with its discount widening by $180/mt over the past week to $541/mt, as a surge in conventional fuel prices left B100 broadly unchanged by comparison.

B100’s price has risen by $109/mt in Singapore, but its discount to LSMGO has still widened by $102/mt to $106/mt, as LSMGO surged by an even greater $211/mt.

Rotterdam’s LNG premium over VLSFO has widened by $35/mt to $201/mt for vessels with Otto medium speed (Otto MS) engines. For vessels with diesel slow speed (diesel SS) engines, LNG has flipped to a $15/mt premium over VLSFO, from a $22/mt discount the prior week.

Liquefied biomethane (LBM) discounts to VLSFO in Rotterdam have narrowed by $50-52/mt to $203-396/mt over the past week. Against LSMGO, LBM discounts have widened by $45-47/mt to $639-833/mt, depending on engine type.

In Singapore, LNG is now $42/mt cheaper than LSMGO for vessels with Otto MS engines, and $134/mt cheaper for vessels with diesel SS engines.

ENGINE on Fuel Switch Snapshot: LSMGO surges to greater premium over biofuel

Liquid fuels

HSFO and VLSFO prices in Rotterdam have jumped by $66/mt and $99/mt respectively over the past week, while LSMGO has surged by an even steeper $196/mt. A $9.69/bbl ($71/mt) rise in front-month ICE Brent futures, to $87.94/bbl ($645/mt), drove bunker prices sharply higher across the board.

Bunker fuel availability is tight for prompt delivery dates in the ARA ports, with buyers advised to enquire about stems between 5-7 days ahead to get good coverage, a trader said.

Rotterdam’s B100 price has risen by $16/mt over the past week. Dutch ZRE A ticket prices were unchanged at €107.50/mtCO2e.

Singapore’s HSFO and VLSFO prices have risen by $130/mt and $132/mt respectively, while its LSMGO price has gained an even steeper $211/mt over the past week.

VLSFO availability in Singapore has been tight, with several suppliers reporting low stock levels. Recommended lead times have widened from 13–17 days last week to 14–19 days now.

Liquid gases

Rotterdam’s LNG prices have surged by $134-136/mt over the past week, while its LBM prices have climbed by $149-151/mt.

LBM discounts to LNG in Rotterdam have narrowed by $15/mt to $404-411/mt.

Singapore’s LNG bunker benchmarks have surged by $196-197/mt over the past week.

By Erik Hoffmann

 

Photo credit and source: ENGINE
Published: 21 July, 2026

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Alternative Fuels

Repsol and Maersk wrap up first bioethanol bunkering operation in Port of Barcelona

Repsol supplied 2,800 mt of bioethanol to a Maersk container vessel, “Antonia Maersk”, in the first bunkering operation of its kind in the Port of Barcelona and one of the first in the Mediterranean.

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Repsol and Maersk wrap up first bioethanol bunkering operation in Port of Barcelona

Spanish energy company Repsol and shipping giant A.P. Moller – Maersk (Maersk) completed the first bioethanol bunkering operation in the Port of Barcelona, according to the port authority on Wednesday (15 July). 

Repsol successfully supplied 2,800 metric tonnes (mt) of bioethanol to a Maersk container vessel, Antonia Maersk, in the first bunkering operation of its kind in the Port of Barcelona and one of the first in the Mediterranean. 

The operation demonstrates growing demand for alcohol-based marine fuels, as well as the readiness of the infrastructure, logistics, and operational capabilities required to support their deployment at commercial scale. 

Juan Abascal, Repsol’s Executive Managing Director of Industrial Transformation and Circular Economy, said: “With this supply, we reaffirm our commitment to the decarbonization of maritime transport through solutions that are available today and ready to scale in the future. 

“At Repsol, we provide shipping companies with a reliable supply chain and a multi-energy strategy that combines different renewable fuels to support the sector in a safe, competitive, and sustainable transition.”

The supply took place in the Port of Barcelona under fully commercial conditions, bringing together key players across the maritime value chain and demonstrating how collaboration can accelerate the adoption of lower-emission solutions in shipping. 

The delivery was carried out by Bahía Candela, Repsol’s newest bunker vessel, operated by Mureloil and designed to supply both conventional marine fuels and next-generation energy products. 

During the bunkering operation, Bahía Candela operated using its battery system, enabling the fuel transfer to be completed with zero local emissions, and further reducing the environmental footprint of the operation. 

Prior to the bunkering, Maersk tested ethanol on one of its smaller vessels, the 1,800 TEU feeder vessel Laura Maersk, which in 2023 became the world’s first dual-fuel container vessel able to operate on methanol. Today, Maersk has 23 dual-fuel container vessels designed to operate on methanol; however, the company continues to explore ethanol as an alternative fuel for its methanol-enabled vessels. Laura Maersk has performed sailings on 100% ethanol as well as blends of ethanol and methanol. 

Emma Mazhari, Vice President Energy Markets at Maersk, said: “Following the successful ethanol trials conducted on Laura Maersk, this latest bunkering of Antonia Maersk marks another important step in our efforts to explore scalable low-emission fuel solutions. 

“As the first ethanol trial on one of our large dual-fuel vessels, with a capacity of 16,000 TEU, it allows us to deepen our understanding of ethanol’s operational potential at scale. 

“Building on the experience we have gained with methanol, we are working closely with port authorities and industry partners to develop the infrastructure and procedures needed to support ethanol bunkering. Ethanol is one of several pathways we are pursuing to diversify our future fuel portfolio and help accelerate the development of new, viable liquid marine fuel markets.”

 

Photo credit: Port of Barcelona
Published: 20 July, 2026

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Biofuel

DP World, Svitzer switch harbour tug to HVO100 biofuel at London Gateway

“Svitzer Thames” switching from marine diesel to HVO can reduce CO₂ emissions by up to 700 mt annually, while also improving local air quality.

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DP World, Svitzer switch harbour tug to 100% HVO at London Gateway

Global logistics group DP World recently said the company bunkered the first harbour tug to use 100% Hydrotreated Vegetable Oil (HVO) fuel at London Gateway, in collaboration with Svitzer.

Svitzer Thames handles some of the world’s largest container ships at the port, and switching from marine diesel to HVO can reduce CO₂ emissions by up to 700 metric tonnes (mt) annually, while also improving local air quality.

“DP World and Svitzer are working together to use biofuel on tugs to reduce emissions in the UK, enabling cargo owners to actively reduce supply chain emissions at the source,” DP World said in a social media post.  

“By transitioning to this lower lifecycle emissions solution, we are helping our customers to tackle scope 3 emissions and meet their sustainability goals along the supply chain.”

DP World partnered with marine services company Svitzer, under a partnership that will see its tug boats serving DP World’s ports transition to these fuels.

Manifold Times previously reported DP World supporting the bunkering of tugboat Svitzer Bargate using 100% Hydrotreated Vegetable Oil (HVO) in place of conventional diesel.

The operation was conducted at the Port of Southampton in the UK. 

The company added that the emissions savings from this activity form part of the last nautical mile carbon inset credits under its Carbon Inset Programme, enabling cargo owners to actively reduce supply chain emissions at the source. 

Related: DP World supports HVO100 bunkering operation of Svitzer tugboat

 

Photo credit: DP World
Published: 20 July, 2026

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