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Alternative Fuels

ENGINE on Fuel Switch Snapshot: LNG-VLSFO premiums double in a month

LNG premiums have soared; Singapore’s LNG up to premium over B24-LSMGO; bio-bunker prices drop in key bunker ports.

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ENGINE on Fuel Switch Snapshot: LNG-VLSFO premiums double in a month

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:

9 December 2024

  • LNG premiums have soared
  • Singapore’s LNG up to premium over B24-LSMGO
  • Bio-bunker prices drop in key bunker ports

While VLSFO-equivalent prices for LNG and B24-VLSFO have shown little change over the past week, they have shifted sharply in the past month. LNG, which previously traded at a discount to B24-VLSFO, now commands a substantial premium in major ports like Rotterdam and Singapore.

Rotterdam’s LNG holds a significant $70/mt premium over its B24-VLSFO HBE price, compared to a $61/mt discount last month. Similarly, Singapore’s LNG has flipped from a $52/mt discount to an identical $52/mt premium over its B24-VLSFO UCOME price in the past month.

Singapore’s LNG has even climbed to a narrow $1/mt premium over its B24-LSMGO grade, a reversal from its $20/mt discount last week and $89/mt discount last month.

Meanwhile, LNG now stands at a whopping $228/mt premium over pure VLSFO in Rotterdam. In Singapore, LNG is $208/mt more expensive than pure VLSFO. LNG’s premiums have jumped by more than $100/mt in a month.

VLSFO

VLSFO prices in Singapore and Rotterdam have remained almost unchanged in the past week. Rotterdam has seen a $3/mt gain, while Singapore has witnessed a $4/mt drop.

Availability of VLSFO remains tight in Singapore, where 10 days of lead time is recommended.

Supply pressures have eased slightly across VLSFO, LSMGO and HSFO grades in the ARA this week, a trader told ENGINE. VLSFO availability has returned to normal in the past week, with lead times of 3-5 days advised for the grade.

Biofuels

Singapore’s B24-VLSFO UCOME price has shed $3/mt in the past week, while its B24-LSMGO UCOME price has decreased by a sharp $15/mt. The bigger drop in the B24-LSMGO price is partly because of a $19/mt decline in the underlying ENGINE conventional LSMGO price.

The strengthening of used cooking oil (UCO) prices in China has exerted upward pressure on UCOME export prices, PRIMA Markets said.

Rotterdam biofuel benchmarks have almost mirrored the declines seen in Singapore. The B30-VLSFO HBE price in Rotterdam has edged down by $3/mt, while the B30-LSMGO HBE price has declined by a sharp $17/mt.

LNG

Rotterdam’s LNG bunker price has dropped by $8/mt to $877/mt in the past week. The downward trend reflects a corresponding decrease in the underlying Dutch TTF Natural Gas contract. While European gas prices have dipped, colder-than-average temperatures across Northern Europe are expected to limit further price drops.

Singapore’s LNG bunker price has gained by $6/mt in the past week, tracking gains in the NYMEX Japan/Korea Marker (JKM) contract. Despite a forecast for colder weather in Northeast Asia next week, demand prospects remains subdued for the near term.

By Konica Bhatt, Nithin Chandran and Debarati Bhattacharjee

 

Photo credit and source: ENGINE
Published: 10 December, 2024

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Bunker Fuel

Singapore: Bunker fuel sales soar by 7.5% on year in June 2025

4.59 million mt of various marine fuel grades were delivered at the world’s largest bunkering port in June, up from 4.27 million mt recorded during the similar month in 2024, according to MPA.

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Singapore: Bunker fuel sales soar by 7.5% on year in June 2025

Sales of marine fuel at Singapore port increased by 7.5% on year in June 2025, according to Maritime and Port Authority of Singapore (MPA) data.

In total, 4.59 million metric tonnes (mt) (exact 4,594,700 mt) of various marine fuel grades were delivered at the world’s largest bunkering port in June, up from 4.27 million mt (4,274,900 mt) recorded during the similar month in 2024.

Deliveries of marine fuel oil, low sulphur fuel oil, ultra low sulphur fuel oil, marine gas oil and marine diesel oil in June (against on year) recorded respectively 1.70 million mt (+8.6% from 1.56 million mt), 2.31 million mt (-7.2% from 2.33 million mt), 1,900 mt (from zero), 4,500 mt (-88% from 8,000 mt) and zero (from zero).

Singapore: Bunker fuel sales soar by 7.5% on year in June 2025

Bio-blended variants of marine fuel oil, low sulphur fuel oil, ultra low sulphur fuel oil, marine gas oil and marine diesel oil in June (against on year) recorded respectively 38,800 mt (+671.7% from 2,500 mt), 114,300 mt (+97.9% from 45,400 mt), zero (from zero), zero (from zero) and zero (from zero). B100 biofuel bunkers, introduced in February this year, recorded 1,000 mt of deliveries in June.

LNG and methanol sales were respectively 55,400 mt (-7.8% from 51,700) and zero (from zero mt). There were no recorded sales of ammonia for the month and so far in 2025.

Related: Singapore: Bunker sales volume raises to year record high of 4.88 million mt in May
Related: Singapore: Bunker fuel sales increase by 4% on year in April 2025
Related: Singapore: Bunker fuel sales increase by 0.5% on year in March 2025
Related: Singapore: Bunker fuel sales down by 8.1% on year in February 2025
Related: Singapore: Bunker fuel sales down by 9.1% on year in January 2025

A complete series of articles on Singapore bunker volumes reported by Manifold Times tracked since 2018 can be found via the link here.

 

Photo credit: Maritime and Port Authority of Singapore
Published: 15 July 2025

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Alternative Fuels

ITOCHU orders world’s first ammonia bunkering vessel for Singapore demonstration project

Company contracted Sasaki Shipbuilding to build the 5,000 m3 vessel and Izumi Steel Works to construct an ammonia tank plant that will be loaded onto the vessel, which is expected to be delivered in 2027.

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ITOCHU orders world’s first ammonia bunkering vessel for Singapore demonstration project

ITOCHU Corporation (ITOCHU) on Monday (14 July) announced that it recently signed a shipbuilding contract for the construction of a 5,000 m3 ammonia bunkering vessel with Sasaki Shipbuilding. 

The company also announced an agreement regarding the construction of an ammonia tank plant that will be loaded onto the vessel with Izumi Steel Works. 

These agreements were signed by Clean Ammonia Bunkering Shipping Pte Ltd (CABS), a wholly owned Singapore-based specific purpose company of ITOCHU. 

In relation to this, CABS has concluded a financing agreement with The Hiroshima Bank for financing a part of purchase price of the vessel.

The agreements were concluded to pursue the Demonstration Project for Bunkering Ammonia as Marine Fuel in Singapore adopted by the Ministry of Economy, Trade and Industry in Japan as part of the Global South Future-oriented Co-Creation Project (large-scale demonstration in ASEAN member states). 

Going forward, with an eye toward the demonstration of ammonia bunkering in Singapore after building the world’s first newbuilding ammonia bunkering vessel, ITOCHU said efforts will be made to facilitate concrete discussions with the maritime stakeholders, including the port authority in Singapore, the Maritime & Port Authority of Singapore (MPA), and the fuel producers, while obtaining support from the Japanese Government.

The vessel is to be flagged under the Singapore Registry and is expected to be delivered in September 2027.

ITOCHU will establish a safe offshore bunkering operation of ammonia as marine fuel by way of ship-to-ship transfer through the development and construction of the vessel and demonstration. 

Then, by utilising the vessel, ITOCHU will establish connection between the first movers in clean ammonia production and the first movers in the ammonia-fueled vessels and secure initial demand for ammonia as marine fuel, aiming at the commercialisation of ammonia bunkering business in Singapore and expansion of similar business model to major maritime transportation points around the world, including Spain (Strait of Gibraltar), Egypt (Suez Canal) and Japan.

 

Photo credit: ITOCHU Corporation
Published: 15 July 2025

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Biofuel

Chimbusco Pan Nation delivers first B30-MGO bio bunker fuel blend supply in Hong Kong

The supply, delivered to Orient Overseas Container Line, represents the first time OOCL has received this fuel blend in the region; operation also included a simultaneous delivery of B30-HSFO.

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Chimbusco Pan Nation delivers first B30-MGO bio bunker fuel blend supply in Hong Kong

Hong Kong-based marine fuel oil supplier Chimbusco Pan Nation Petro-Chemical (CPN) on Friday (11 July) announced the first-ever delivery of a B30-Marine Gasoil (B30-MGO) which consists of 30% biodiesel and 70% Marine Gasoil (MGO), in Hong Kong. 

The supply, delivered to Orient Overseas Container Line (OOCL), represents the first time OOCL has received this fuel blend in the region.

In addition to the B30-MGO, this operation included a simultaneous delivery of B30-High Sulphur Marine Fuel Oil.

“This delivery, completed on 11 July, solidifies CPN’s leadership in advancing green fuel solutions in East Asia. Being the first bunker supplier in the region capable of providing all grades of ISCC-EU Certified marine biofuel, including marine fuel and gas oil, CPN demonstrates its commitment to supporting the maritime industry’s transition to sustainable energy,” the company said on its website. 

 

Photo credit: Chimbusco Pan Nation Petro-Chemical
Published: 15 July, 2025

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