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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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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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