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ENGINE on Fuel Switch Snapshot: Singapore overtakes Rotterdam as biggest bio-bunker port

LNG now costs $100/mt more than VLSFO; bio-premiums narrow in Rotterdam; Dutch biofuel rebates for B30 surpass $100/mt.

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ENGINE on Fuel Switch Snapshot: Singapore overtakes Rotterdam as biggest bio-bunker port

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:

28 October, 2024

  • LNG now costs $100/mt more than VLSFO
  • Bio-premiums narrow in Rotterdam
  • Dutch biofuel rebates for B30 surpass $100/mt

LNG bunker prices have increased by $19–22/mt in Singapore and Rotterdam over the past week, pushing price premiums over VLSFO to over $100/mt in both ports.

Rotterdam’s VLSFO-equivalent LNG grade is now $118/mt more expensive than VLSFO. This is without estimated EU Allowance (EUA) costs included in the price. With EUA costs the premiums are lower at $107–113/mt.

In Singapore, LNG costs $100/mt more than VLSFO without EUAs, and $95/mt more with EUAs.

Rotterdam LNG’s discount to its B24-VLSFO HBE blend has narrowed by $26/mt over the past week, to $46/mt.

The LNG-biofuel price gap is smaller in Singapore, where VLSFO-equivalent LNG is $32/mt cheaper than B24-VLSFO UCOME.

Singapore has surpassed Rotterdam to become the world’s largest biofuel bunker hub. Rotterdam sold 137,000 mt of bio-blended bunkers in the third quarter of this year, about 40% less than the 227,000 mt sold in Singapore during the same period.

Singapore’s B24-VLSFO UCOME is priced around $22/mt higher than the rebated B24-VLSFO HBE price in Rotterdam, which includes POMEME-based biofuels.

In contrast, Rotterdam’s B24-VLSFO UCOME is about $55/mt more expensive than its Singapore equivalent, as UCOME blends do not qualify for Dutch advanced biofuel rebates.

VLSFO

Rotterdam’s VLSFO price has remained unchanged over the past week, caught between constrained supply and softened demand. Fuel availability has tightened across all grades in the broader ARA region.

But lower demand has put downward pressure on Rotterdam’s VLSFO price, amidst a $2.99/bbl ($22/mt) rise in the front-month ICE Brent futures contract.

Singapore’s VLSFO has gained $11/mt in the past week. VLSFO availability in the port remains tight, with recommended lead times of around 13 days. Some suppliers can accommodate stems with shorter lead times of about four days, but these are usually priced higher.

Biofuels

Singapore’s B24-VLSFO UCOME price has risen by $11/mt over the past week, driven up by increases in prices for conventional VLSFO and used cooking oil methyl ester (UCOME). PRIMA Markets assessed the UCOME FOB China benchmark at $970/mt on Friday, up by $20/mt from the week prior.

Rotterdam’s B24-VLSFO HBE price has declined by $7/mt, while its B24-LSMGO HBE price has climbed by $22/mt in the past week.

The Dutch Advanced HBE ticket price for B30-VLSFO HBE blends has moved beyond $100/mt in the past week. This increases the theoretical rebates that suppliers can pass on to traders and buyers.

LNG

Rotterdam’s LNG bunker price has climbed by $19/mt in the past week. As temperatures dipped, European buyers began securing additional LNG to meet seasonal needs, pushing prices higher, said ING’s Warren Patterson.

Singapore’s LNG bunker price has risen by $22/mt in the past week. Japan, South Korea and other major Asian importers ramped up their LNG imports last week. This has driven prices up across neighbouring markets, including Singapore.

By Konica Bhatt

 

Photo credit and source: ENGINE
Published: 29 October, 2024

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Alternative Fuels

Singapore-based Proteus Energy introduces hydrogen fuel cell system for maritime sector

Company has partnered with hydrogen fuel cell company Symbio France to develop the Proteus Maritime Fuel Cell Solution, a modular hydrogen fuel-based system for ports and vessels.

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Singapore-headquartered clean energy provider Proteus Energy on Wednesday (18 June) has developed the Proteus® Maritime Fuel Cell Solution, a modular hydrogen fuel-based system for ports and vessels. 

The first offering is the Proteus®75. Each fuel cell stack is 75 kW output, and these can be combined for larger power requirements. The vessel types being targeted are harbour craft, and vessels in the coastal, offshore support, and in-land waterway segments.

The technology has been developed in partnership with Symbio France, a world leading hydrogen fuel cell company with over 30 years track record. Symbio is jointly owned by global industrial groups Michelin, Stellantis, and Forvia.

“The maritime industry needs viable clean energy solutions today,” said Dr Lars Gruenitz, CEO of Proteus Energy. “We are providing a high energy density solution that is compact and lightweight, which is critical for vessels where space and weight considerations are imperative. This best-in-class system is the logical and most cost-effective choice to help operators make a quantum leap in their decarbonisation efforts”.

The Proteus® Maritime Fuel Cell Solution can be delivered as a modular powerpack or customised and fitted into vessels.

Proteus’ fuel cell technology also complements electric propulsion and offers a powerful solution for hybrid vessels by extending their range and easing the load on batteries, thus improving space efficiency and vessel performance.

The Proteus® Maritime Fuel Cell Solution will be backed by a two-year performance guarantee from Symbio France.

Symbio’s systems have already logged millions of kilometers powering cars, buses and commercial trucks across Europe. Now, that same rigorous, road-tested performance is being deployed at sea with added protections for marine operating conditions.

The fuel cell stacks are produced at Symbio’s gigafactory in Lyon, France, using robotic assembly systems capable of producing thousands of units annually.

This high-throughput capability ensures that Proteus can meet rising demand without sacrificing quality – something only established and proven hydrogen fuel cell manufacturers can claim.

What also sets Proteus apart is its ability to bring economies of scale, continuous R&D, and tried and tested reliability from land transport into the marine environment. 

To provide a convenient fuel storage option, Proteus also offers high-pressure hydrogen storage tanks developed with its partner Forvia, a major global components and technology company. The DNV type-approved tanks, which are already available for delivery, offer a safe and easy way to store hydrogen onboard vessels and will be produced on an industrial scale.

In addition, Proteus works with port operators to provide them with customised refueling solutions and infrastructure.

The Proteus® Maritime Fuel Cell Solution is expected to be available for delivery beginning January 2026, with type approval from DNV anticipated before the end of this year. Proteus is ready to work with customers now.

 

Photo credit: Proteus Energy
Published: 19 June, 2025

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Sanctions

UK slaps sanctions on bunker company and Russian shadow fleet of oil tankers

Government has imposed sanctions on 20 oil tankers and Rosneft’s bunker fuel trading subsidiary Rosneft Marine (UK) Limited, in its latest action targeting Russia’s financial, military and energy sectors.

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The UK government on Tuesday (17 June) has imposed sanctions on 20 oil tankers and Rosneft’s bunker fuel trading subsidiary Rosneft Marine (UK) Limited, in its latest action targeting Russia’s financial, military and energy sectors.

The new sanctions crack down further on Russia’s shadow fleet, targeting 20 of oil tankers. The UK is also tightening the net around those who enable Putin’s illicit oil trade, sanctioning Orion Star Group LLC and Valegro LLC-FZ, for their role in crewing and managing shadow fleet vessels. 
The action also targets Russia’s military capabilities, hitting the military agency leading the development of Russia’s underwater intelligence gathering operations (GUGI), protecting the UK from attacks on subsea infrastructure, restricting Putin’s war machine and increasing our security at home. 

“These sanctions strike right at the heart of Putin’s war machine, choking off his ability to continue his barbaric war in Ukraine,” Prime Minister Keir Starmer said.

“We know that our sanctions are hitting hard, so while Putin shows total disregard for peace, we will not hesitate to keep tightening the screws.

“The threat posed by Russia cannot be underestimated, so I’m determined to take every step necessary to protect our national security and keep our country safe and secure.”

According to Rosneft’s website, Rosneft Marine UK, a Rosneft trading division, was established in 2010 to carry out bunker fuel trading for international cargo shipping.

In 2010, an office was opened in London, then in Beijing in 2012.

 

Photo credit: balesstudio on Unsplash
Published: 19 June, 2025

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Ammonia

DNV awards AiP to SeaTech Solutions for new ammonia bunkering vessel design

Vessel is specifically designed to deliver low-carbon ammonia to ammonia dual-fuelled bulk carriers at the Port of Dampier and can supply up to 9,000cbm of fuel.

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DNV awards AiP to SeaTech Solutions for new ammonia bunkering vessel design

Classification society DNV on Wednesday (18 June) said it has awarded an Approval in Principle (AiP) to SeaTech Solutions International (SeaTech) in collaboration with Oceania Marine Energy (Oceania) for the design of a new 10,000cbm ammonia bunkering vessel. 

This AiP builds on a recent Memorandum of Understanding (MoU) between DNV, SeaTech, and Oceania, initiated at Singapore Maritime Week and signed in April this year.

Located in the Pilbara region, home to the world’s largest bulk export port, the Port of Dampier is emerging as a potential hub for low-carbon ammonia bunkering.

Driven by a rising demand for low- and zero-carbon shipping fuels from the region’s mining and export industries, the port has built considerable experience in dealing with ammonia cargoes and vessels and is developing a strategy to facilitate ammonia bunkering operations. This includes the successful completion of its first ship-to-ship pilot bunkering transfer in September 2024. 

Measuring 130-metres, the ammonia bunkering vessel is specifically designed to deliver low-carbon ammonia to ammonia dual-fuelled bulk carriers at the Port of Dampier. It can supply up to 9,000cbm of fuel, sufficient to support two round-trips of iron ore shipment between Australia and North Asia. The vessel’s optimized arrangement and advanced containment systems enable efficient ship-to-ship transfers while ensuring the safe handling of ammonia as both a cargo and marine fuel.

Nick Bentley, Managing Director at Oceania Marine Energy, said: “Oceania is proud to have worked in tandem with DNV and SeaTech to deliver a flagship, low-emissions marine fuel solution at the heart of Australia’s heaviest resource export hub. The completion of this MOU and Approval in Principle (AiP) award by DNV for our 10,000m³ clean ammonia bunker vessel marks a major milestone in developing the supply and bunker operation foundations for the low-carbon shipping Pilbara–Asia green-corridor.

“This initiative reinforces Oceania’s commitment to deliver 1 million tonnes of clean marine fuel by 2030 and positions Dampier in Western Australia as a future leader, enabling the shipping industry’s transition to near net-zero marine fuel.”

Prabjot Singh Chopra, Vice President of Technology at SeaTech Solutions, said: “We are proud to work alongside Oceania and DNV to bring this innovative ammonia bunkering vessel design to life. As part of the maritime industry’s multi-fuel transition to low- and zero-carbon energy, ammonia stands out as a viable option for long-haul shipping—and enabling its safe and efficient delivery is critical.”

“Our vessel design incorporates a high level of automation and smart control systems to ensure safe handling of ammonia, enhancing both crew safety and operational reliability during ship-to-ship transfers. This Approval in Principle marks a key milestone, not just for the vessel, but for the broader ecosystem that must be in place to support ammonia bunkering. With Dampier emerging as a green marine fuel hub, and with SeaTech (Australia) actively engaged in supporting decarbonisation initiatives aligned with Australia’s net zero ambitions, we bring a strong track record and deep expertise to deliver practical, scalable solutions that enable the decarbonisation of global shipping.”

Antony M Dsouza, Senior Vice President & Regional Manager, South East Asia, Pacific & India, Maritime at DNV, added: “Scaling up production and bunkering infrastructure remains one of the biggest challenges in the maritime energy transition, and will be vital to the adoption of alternative fuels at scale.”

“This AiP is another step in realizing operationally ready bunkering capabilities and strengthening industry confidence in the potential of ammonia as a carbon-free fuel for shipping. At DNV, we’re proud to support forward-thinking partners like SeaTech and Oceania with the trusted technical assurance and deep expertise needed to realize the industry’s decarbonization ambitions.”

DNV has a long history of working on initiatives to support the development and uptake of ammonia as a marine fuel, including a recent ammonia bunkering safety study for the Global Centre for Maritime Decarbonisation (GCMD), which was utilized in the ship-to-ship ammonia transfer pilot at the Port of Dampier.

Related: GCMD: STS ammonia transfers pave way for ammonia bunkering in Pilbara region

 

Photo credit: DNV
Published: 19 June, 2025

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