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ENGINE: Rotterdam marine biofuel prices soar with Dutch rebalancing towards road fuels

Rotterdam’s B20-VLSFO and B30-VLSFO bunker prices have increased by around $50-74/mt over the past week after the Dutch government cut support.
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RESIZED port of rotterdam

Rotterdam’s B20-VLSFO and B30-VLSFO bunker prices have increased by around $50-74/mt over the past week after the Dutch government cut support.

A change in Dutch emissions policy has meant that physical bunker suppliers selling sustainable marine biofuel grades to ships will only get half as much support from Dutch authorities.

Suppliers will now get around $50/mt for advanced B20-VLSFO (20% biofuel, 80% VLSFO) sold and $80/mt for advanced B30-VLSFO, as the Dutch government has halved the rebate multiplier for marine biofuel sales from 0.80 to 0.40.

Advanced B20 and B30 rebates were around $100/mt and $160/mt, respectively, before the policy change came into effect from 1 January 2024.

The outright price for advanced B30-VLSFO has shot up to beyond $700/mt now, from around $630/mt a week ago.

Less of a price edge

Dutch biofuel blends have also become significantly more expensive compared to conventional oil-based fuels. The multiplier reduction has contributed to increase Rotterdam’s price premiums for advanced B20-VLSFO and B30-VLSFO over VLSFO to $120-170/mt over the past week, from around $30-50/mt.

The widening biofuel blend premiums have come even as the price of the biofuel component has fallen by $27/mt and outpaced the $8/mt fall in VLSFO.

Dutch marine biofuels have also lost some of their price edges over Singapore. Rotterdam’s B24-VLSFO discount to Singapore’s B24-VLSFO has narrowed from $225/mt on 27 December, to $155/mt now.

The Dutch rebate market mechanism had made sure that LSMGO was actually often priced higher than rebated B20-LSMGO and B30-LSMGO blends in Rotterdam until recently.

These B20-LSMGO and B30-LSMGO blends are now firmly more expensive than pure, conventional LSMGO. The price of B30-LSMGO has surged $130/mt above that of LSMGO.

The Dutch system

The multiplier forms part of a market mechanism to boost sales of renewables and cut emissions. Bunker suppliers can obtain tradeable renewable energy units (HBEs) by selling renewable energy such as biofuel to ships. 1 gigajoule (GJ) of energy equals 1 HBE.

Advanced biofuels made from feedstocks listed in Part A of Annex IX in the EU’s Renewable Energy Directive (RED II) still qualify four double counting, so the rebate multiplier for these is 0.80 (down from 1.60 before 1 January).

According to Dutch biofuel bunker supplier GoodFuels, the reduction was adopted to “rebalance” renewable fuel supply from marine to road transport.

Biofuel supply to the road fuels market has suffered as a result of differences in prices and fuel quality between biofuels for road and marine, Jaap Steensma explained to ENGINE in September. He is the general press officer at the Dutch Ministry of Infrastructure and Water Management.

This market mechanism contributed to pull biofuel supply away from the road fuels market towards bunkering.

A rebalancing was due, with a new bunker fuel multiplier to address it, Steensma said, referring to the reasoning behind the government’s change of policy.

By Konica Bhatt

 

Photo credit: Port of Rotterdam
Source: ENGINE
Published: 8 January, 2024

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LNG Bunkering

Singapore: FueLNG achieves 400th LNG bunkering operation milestone

Bunker tanker “FueLNG Bellina” successfully delivered LNG bunker fuel to “BYD Shenzhen”, the world’s largest LNG-fuelled car carrier at Singapore anchorage during its maiden voyage.
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May 16, 2025

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Singapore: FueLNG achieves 400th LNG bunkering operation milestone

Singapore’s licensed LNG bunker supplier FueLNG on Thursday (15 May) announced the successful completion of its 400th LNG ship-to-ship (STS) bunkering operation in the republic.

FueLNG, a joint venture between Keppel Offshore & Marine and Shell Eastern Petroleum Pte Ltd, marked the milestone with bunker tanker FueLNG Bellina successfully refuelling BYD Shenzhen, the world’s largest LNG-fuelled car carrier, at Singapore anchorage during its maiden voyage.

“With a capacity of 9,200 vehicles and equipped with dual-fuel LNG propulsion, the BYD SHENZHEN represents the next generation of low-emission maritime transport,” it said in a social media post. 

Shell said it supported BYD Shenzhen on its maiden voyage as the supplier of the LNG bunker fuel. 

“Like all LNG dual fuel vessels, BYD Shenzhen is on the pathway to net zero emissions. She can take bio-LNG, and in the future e-LNG, in her fuel mix for further emission reduction and regulatory compliance,” it said in a separate social media post. 

 

Photo credit: Shell
Published: 16 May, 2025

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Biofuel

Hong Kong: CPN hits new record for China’s largest B24 biofuel bunkering operation

Chimbusco Pan Nation delivered 6,300 mt of B24-VLSFO in Hong Kong to boxship “XIN LOS ANGELES” on 15 May, exceeding its previous record of 5,500 mt delivered in February 2025.
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Hong Kong: CPN hits new record for China's largest B24 biofuel bunkering operation

Hong Kong-based bunker supplier Chimbusco Pan Nation Petro-Chemical (CPN) on Friday (16 May) said it has set a record for China’s largest B24 marine biofuel bunkering operation.

CPN said it delivered 6,300 metric tonnes (mt) of B24-VLSFO in Hong Kong to container ship XIN LOS ANGELES on 15 May. 

The supply exceeded CPN’s previous record of 5,500 mt delivered to the same ship in February 2025.

“This collaboration reinforces CPN’s ability to execute large-scale marine biofuel bunkering with precision and reliability,” the company said in a social media post.

“By consistently supplying large volumes of B24 marine biofuel, CPN supports reduced carbon emissions and sustainable shipping practices globally.”

Related: CPN achieves largest B24 bio bunker fuel delivery in Hong Kong and China

 

Photo credit: Chimbusco Pan Nation Petro-Chemical
Published: 16 May, 2025

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Bunker Fuel

Tigonic launches physical bunker fuel supply operations by barge at Khorfakkan

Move enhances Tigonic’s regional supply capabilities with barge-based delivery of VLSFO and MGO along the vital East Coast of UAE; company also supplies bunker fuel at port of Sharjah by trucks.

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May 16, 2025

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Tigonic launches physical bunker fuel supply operations by barge at Khorfakkan

Dubai-based energy trading and bunker supply firm Tigonic on Thursday (15 May) said it has launched its physical bunker supply operations at Khorfakkan, UAE by barge and has completed its first successful deliveries of bunker fuel in the past few days.

The company said the move enhances Tigonic’s regional supply capabilities with barge-based delivery of Very Low Sulfur Fuel Oil (VLSFO) and Marine Gas Oil (MGO) along the vital East Coast of the UAE.

 Tigonic also supplies bunker fuel at the port of Sharjah in UAE by trucks and may expand into other ports in the region in the foreseeable future.

Tigonic’s operational expansion into physical supply with its dedicated bunker barge enables the company to deliver marine fuels directly at anchorage. 

“This launch marks a significant milestone in our service evolution,” said the team at Tigonic.

“With physical supply now live at Khorfakkan, we are elevating our ability to provide fast, flexible, and reliable marine fuel solutions to the global fleet.”

This expansion follows Tigonic’s recent achievement—the successful lifting of multiple cargoes of High-Sulfur Fuel Oil (HSFO) from the SASREF refinery in Jubail, Saudi Arabia, and fuel oil of Bahrain origin for their customers in the Singapore Straits.

 

Photo credit: Tigonic
Published: 16 May, 2025

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