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Argus Media: Marine biodiesel demand set to grow next year

10 Nov 2022

Argus Media on Wednesday (9 November) released a whitepaper on marine biodiesel where its marine fuels team explain how competitive this sustainable ‘drop in’ fuel is and introduce new Argus indexes aimed at providing clarity into costs.

In the whitepaper titled EU marine biodiesel demand to rise as sanctions imposed, Argus Media highlighted EU sanctions will ban all imports of Russian diesel from February 2023, requiring Europe to replace 750,000 b/d of supply, or roughly a tenth of consumption.

The ban could prop up distillate prices, including MGO, a type of distillate fuel with a very low sulphur content of 0.1pc required for use in ECA zones.

Biodiesel could provide a ready, low sulphur and low carbon alternative for bunkering amid MGO tightness, it said.

Biodiesel, which qualifies for advanced renewable fuel credits in the Netherlands, could provide a reasonably competitive, low sulphur and low carbon alternative. Marine biodiesel, a blend of Advanced Fame 0 and very low sulphur fuel oil (VLSFO) provide a low investment option for decarbonisation today.

Note: The full version of the whitepaper titled ‘EU marine biodiesel demand to rise as sanctions imposed’ can be found here.

 

Photo credit: Argus Media

Published: 10 November, 2022

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