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ENGINE on Fuel Switch Snapshot: Bio-blends now cheaper than LNG in Singapore

LNG now one of the priciest bunker options in Singapore; Singapore’s LNG flips to a premium over B24-VLSFO; Rotterdam’s B24-VLSFO priced $62/mt higher than LNG.
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ENGINE on Fuel Switch Snapshot: Bio-blends now cheaper than LNG in Singapore

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:

19 August 2024

  • LNG now one of the priciest bunker options in Singapore
  • Singapore’s LNG flips to a premium over B24-VLSFO
  • Rotterdam’s B24-VLSFO priced $62/mt higher than LNG

B24-VLSFO blend is now cheaper than fossil LNG in Singapore. Fossil LNG has become the second-costliest bunkering alternative among conventional, B24 blends and LNG in Singapore, following a sharp price rise over the past week. These bunker prices all include estimated EU Allowances (EUAs) for comparison.

Singapore’s VLSFO-equivalent LNG price has shifted from an $81/mt discount to B24-VLSFO, to a $9/mt premium over B24-VLSFO now. When adding estimated EUA costs, LNG is now $14/mt more expensive than the bio-blend.

Singapore’s LNG price has flipped from a $16/mt discount to LSMGO a week ago, to a massive $73/mt premium now. When factoring in estimated EUA costs to an EU port, Singapore’s LNG is $65/mt more expensive than its LSMGO.

This means that dual-fuel shipowners can now bunker UCOME-based B24-VLSFO blends ,or pure VLSFO or LSMGO stems, in Singapore at lower costs than LNG.

VLSFO

VLSFO benchmarks in Rotterdam and Singapore have remained largely steady over the past week, as Brent futures have seen little change.

Rotterdam’s VLSFO price has inched up by $2/mt. The grade is available for prompt delivery dates and demand has been good in the past week, a trader said.

Singapore’s VLSFO price has dipped by $3/mt amid expectations of ample supply. Some suppliers expect replenishment stocks to arrive towards the end of this month, which could boost supply in the port, a source told ENGINE.

Biofuels

Bio-bunker prices in Rotterdam and Singapore have remained mostly steady over the past week.

Rotterdam’s B24-VLSFO HBE price has fallen by $6/mt, and B24-LSMGO HBE by $7/mt. Palm oil mill effluent methyl ester (POMEME) is a key feedstock for these HBE blends, and the price of POMEME has held steady at $1,331/mt in the ARA region.

Singapore’s B24-VLSFO and B24-LSMGO prices have both edged $4/mt lower. PRIMA has assessed the UCOME FOB China benchmark to $970/mt, which is down by $10/mt on the week. This has added downward pressure on UCOME-based biofuel prices in Singapore, where suppliers look to China for imports of finished biofuel and bio feedstock.

LNG

Rotterdam’s VLSFO-equivalent LNG bunker price has remained relatively stable, with only a $3/mt decline recorded over the past week.

In contrast, Singapore’s price has shot up by $80/mt in the past week.

Singapore’s increase follows a rollover of the NYMEX Japan/Korea Marker (JKM) contract from September to the higher-priced October contract, which lifted the JKM benchmark and pushed up bunker prices.

Adding to this upward pressure are forecasts of above-average temperatures across East and Southeast Asia. As temperatures soar, demand for gas-fired electricity to power cooling systems is expected to spike.

Singapore’s LNG bunker benchmark is now $99/mt higher than Rotterdam’s.

By Konica Bhatt

 

Photo credit and source: ENGINE
Published: 20 August, 2024

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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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Nuclear

ABS awards AiP to Korean institute for SMR-powered container ship concept design

KRISO says AiP recognises the technical feasibility and safety of its concept design, marking an important milestone toward the development of next-generation nuclear-powered commercial ships.
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July 21, 2026

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ABS awards AiP to Korean institute for SMR-powered container ship concept design

Korea Research Institute of Ships & Ocean Engineering (KRISO) on Thursday (16 July) received Approval in Principle (AiP) from the American Bureau of Shipping (ABS) for its concept design of a 15,000 TEU Small Modular Reactor (SMR)-powered container ship utilising Molten Salt Reactor (MSR) technology.

KRISO said the AiP recognises the technical feasibility and safety of its concept design, marking an important milestone toward the development of next-generation nuclear-powered commercial ships.

“This achievement demonstrates international recognition of KRISO’s technological capabilities in the rapidly evolving field of nuclear-powered shipping, supporting the transition toward low-carbon maritime transport,” it said. 

Building on this milestone, KRISO will continue advancing basic and detailed ship design, paving the way for future demonstration and commercialisation of SMR-powered vessels. 

Through continued R&D and international collaboration, KRISO remains committed to strengthening next-generation maritime technologies and contributing to the safe deployment of nuclear propulsion in the maritime industry.

 

Photo credit: Korea Research Institute of Ships & Ocean Engineering
Published: 21 July, 2026

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