Alternative Fuels
ENGINE on Fuel Switch Snapshot: EU rules push LBM around $400/mt below LNG
Prices drop across the board at major ports; LBM EU-EU compliance edge grows further; Singapore’s B100 still $400/mt above VLSFO.
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:
1 December 2025
- Prices drop across the board at major ports
- LBM EU-EU compliance edge grows further
- Singapore’s B100 still $400/mt above VLSFO
Rotterdam’s HBE-rebated liquefied biomethane (LBM) remains the cheapest compliance option for EU-EU voyages, despite dramatic price cuts across the board.
ENGINE’s assessed pooling estimates for LBM sold at 0 gCO2e/MJ have strengthened by $8–9/mt, with the average across seven surplus prices collected this week holding steady at roughly €216/mtCO₂e.
This means a dual-fuel ship sailing between EU ports and selling the compliance surplus it generates from using LBM instead of VLSFO now has a theoretical FuelEU pooling benefit of $938/mt for vessels with Otto MS engines and $1,099/mt for vessels with diesel SS engines.
LBM is treated as zero-carbon under the EU ETS. Combined with the theoretical pooling value and the Dutch HBE rebate, this can reduce the effective cost of bunkering LBM in Rotterdam to $116–127/mt.
For comparison, LBM is at a $202–363/mt discount to B100, a $396/mt discount to fossil LNG and a $371–532/mt discount to VLSFO in Rotterdam, depending on the vessel’s engine type and methane slip profile.
Liquid fuels
Rotterdam’s conventional fuel benchmarks have dropped sharply by $59-66/mt over the past week. The port’s HBE-rebated B100 has also fallen by $55/mt, a move amplified by a $7/mt rise in Dutch HBE rebates for marine B100.
These declines have widened B100’s discounts to HSFO and VLSFO by $21–25/mt on the week. On the other hand, its discount to LSMGO has narrowed slightly by $10/mt, to $398/mt.
The ENGINE-assessed FuelEU Maritime pooling value for B100 consumed on EU–EU voyages has risen by $6/mt to $676/mt.
Singapore’s conventional fuel prices have also declined, though more modestly, by $25–38/mt in the past week.
Its B100 price has dropped by $27/mt. Even then, B100 remains $227–549/mt more expensive than Singapore’s conventional grades, with its VLSFO spread widening by $1/mt to $467/mt.
The potential pooling value for B100 on nonEU–EU voyages from Singapore has risen by $3/mt on the week to $338/mt.
Liquid gases
Rotterdam’s LNG price has plunged by a steep $69–70/mt over the past week, while its LBM benchmark has also fallen sharply by $42/mt.
LNG’s drop is mainly tied to a 7% slide in the front-month Dutch TTF natural gas contract, which has eased on steady Norwegian supplies and expectations of higher temperatures across northwestern Europe.
Singapore’s LNG bunker price has slipped by a more modest $16/mt on the week. The price has tracked the downturn in the NYMEX Japan/Korea Marker, which has been weighed down by high stockpiles and sluggish gas demand in Northeast Asia.
By Konica Bhatt
Photo credit: ENGINE
Published: 2 December, 2025
Biofuel
BHP and GCMD trial multi-feedstock B100 bio bunker fuel on bulk carrier
Bio-blend in the BHP and GCMD pilot is being used on a BHP-chartered bulk carrier “Berge Lyngor”, which was bunkered in Singapore in early May.
Biofuel
NYK starts one-year B100 bio bunker fuel trial on car carrier
In this trial, NYK will operate a car carrier continuously on B100 for one year to evaluate the impact on engines, fuel supply systems, and operational practices.
Ammonia
AM Green plans to build green ammonia plant at Indian port
Initiative also includes development of green ammonia handling, storage and bunkering infrastructure, pilot bunkering operations, safety procedures and training programmes, says VOC Port Authority.
OUR INDUSTRY PARTNERS
BHP and GCMD trial multi-feedstock B100 bio bunker fuel on bulk carrier
NYK starts one-year B100 bio bunker fuel trial on car carrier
AM Green plans to build green ammonia plant at Indian port
Dutch inland barge “Birjo II” to fully operate on B100 bio bunker fuel
LR launches Newbuild Advisory service, guide on major North Asian shipyards
Report: MSC Cruises ships operated on over 9,800 mt of bio-LNG and biofuels in 2025
ENGINE: East of Suez Bunker Fuel Availability Outlook (2 June 2026)
DNV on IMO MSC 111: Interim guidelines for using hydrogen, ammonia as marine fuels approved
Singapore authorises ITOCHU subsidiary to conduct ammonia bunkering trials
Fratelli Cosulich readies methanol-ready bunker tanker for maiden voyage to Singapore
X-Press Feeders, METHANAVE complete first ethanol-methanol bunkering op in Rotterdam
MOL and Seaspan sign annual LNG bunkering deal for car carriers in Port of Vancouver
Valencia approves concessions to Shell and Axpo Iberia for LNG bunkering services
MMMCZCS: MAGPIE Project confirms operational feasibility of ammonia bunkering
-
Alternative Fuels1 week agoDNV on IMO MSC 111: Interim guidelines for using hydrogen, ammonia as marine fuels approved
-
Ammonia2 weeks agoSingapore authorises ITOCHU subsidiary to conduct ammonia bunkering trials
-
Newbuilding2 weeks agoFratelli Cosulich readies methanol-ready bunker tanker for maiden voyage to Singapore
-
Alternative Fuels1 week agoX-Press Feeders, METHANAVE complete first ethanol-methanol bunkering op in Rotterdam
-
LNG Bunkering2 weeks agoMOL and Seaspan sign annual LNG bunkering deal for car carriers in Port of Vancouver
-
LNG Bunkering2 weeks agoValencia approves concessions to Shell and Axpo Iberia for LNG bunkering services
-
Ammonia2 weeks agoMMMCZCS: MAGPIE Project confirms operational feasibility of ammonia bunkering
-
Alternative Fuels2 weeks agoAlgae-based biofuel project in Oman targets bunker fuel demand