Hercules Tanker Management (HTM) on Tuesday (29 April) announced that its tanker Mount Kibo has been successfully supplied with B30 bunkers by tanker Hercules Sky, another HTM-owned vessel which is operated by Peninsula.

The operation marked the first biofuel supply to the HTM fleet.

HTM is the shipping venture launched last September by John A. Bassadone, founder and CEO of independent marine fuel supplier Peninsula. 

HTM said the operation carried out in the Strait of Gibraltar aligns with the recent discussions at MEPC 83, where key decisions were made to advance maritime decarbonisation, including new fuel standards and a global pricing mechanism for emissions. 

“Additionally, this initiative supports the objectives of the FuelEU Maritime Regulation, which promotes the use of renewable, low-carbon fuels and clean energy technologies for ships,” it said.   

“By utilising biofuels, we are contributing to the reduction of greenhouse gas emissions and supporting the industry's transition towards cleaner energy solutions.”

Related: Peninsula founder launches shipping firm Hercules Tanker Management
Related: Peninsula “Hercules Sky” to supply biofuel bunkers in Gibraltar Strait

Photo credit: Hercules Tanker Management
Published: 30 April, 2025

Singapore-headquartered Swire Shipping on Thursday (24 April) announced that three of its vessels serving the South Pacific will transition to B24 and B30 2nd generation biofuel blends. 

The voluntary move supports Swire Shipping’s long-term sustainability ambitions and will provide more options to customers looking to reduce their emissions.

The three vessels involved in the biofuel programme are Apia Chief and Tonga Chief on the Pacific Weekly Express (PWX) service running direct calls from Southeast Asia to Papua New Guinea, Solomon Islands, New Caledonia and Fiji, and Kokopo Chief on the East Timor (ETS) service which provides direct service every 10 days between Singapore, Dili, Darwin and Surabaya. 

The vessels will bunker B24 in Singapore in Q2 2025 enroute to the South Pacific, and subsequently transition to B30.

Swire Shipping’s Chief Executive Officer, Jeremy Sutton, said, “At Swire Shipping, we are committed to reducing our environmental footprint and contributing to a more sustainable future. The island nations of the South Pacific are particularly vulnerable to the impacts of climate change, and this move marks an important step in our ongoing efforts to reduce emissions and support a cleaner, greener shipping industry.”

The biofuel programme brings together Swire Shipping and its sister company, Argent Energy, a waste-based biofuel producer, achieving synergies within the Swire Group to meet the shared goal of delivering sustainable energy solutions to customers. The collaboration includes an agreement with BP, a supplier of biofuel in Singapore, to explore new feedstocks of marine fuel.

Argent Energy’s Chief Executive Officer, Louise Calviou, said: “This successful biofuel programme highlights what can be achieved through strong international partnerships, all united by the common goal of decarbonisation.”

“It has been especially rewarding to work alongside our sister company and other partners to accelerate the use of waste derived biofuels. We look forward to continuing our collaborative efforts, with sustainability at the centre of all we do.”

With the launch of its biofuel programme, Swire Shipping will also launch a carbon abatement programme, Voyage to Zero, to help customers decarbonise their supply chains. Participating customers will receive certificates of emission savings, verified by an independent third party, towards the reduction of their Scope 3 emissions.

In August 2024, Swire Shipping conducted a successful 2nd generation biofuel B24 trial which allowed the company to test operational readiness to adopt biofuels on its owned vessels for the long term.

Photo credit: Swire Shipping
Published: 29 April, 2025

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:

• B100 now $90/mt cheaper than HSFO in Rotterdam
• LNG delivery premium down $10/mt in Rotterdam
• Singapore’s LNG flips to discount to LSMGO

B100’s discounts to fossil fuels have widened even further in Rotterdam. It is now $116/mt cheaper than VLSFO and a substantial $228/mt cheaper than LSMGO in the port.

Even for scrubber-fitted vessels bunkering in Rotterdam, B100 remains the most cost-effective alternative, standing at a significant $90/mt discount against HSFO.

Rotterdam's biofuel bunker sales fell to 110,000 mt in the first quarter of the year and made up 5% of the port’s total bunker sales, down from peaks of 10-11% between the third quarter of 2023 and the second quarter of 2024.

Rotterdam’s sales have been trailing further and further behind Singapore’s 361,000 mt in the first quarter this year.

LBM continues to be Rotterdam’s cheapest bunkering option for dual-fuel vessel owners. Its discount to LNG has widened by a slight $2/mt, to $253–293/mt, depending on a vessel’s methane slip.

LBM's discount to VLSFO has also increased, now standing at $204–339/mt.

LBM’s discount to Rotterdam’s B100, meanwhile, has narrowed by $9/mt to $88–223/mt over the past week.

Liquid fuels

Rotterdam’s VLSFO benchmark has declined by $8/mt over the past week, mirroring an $8/mt decrease in front-month ICE Brent futures. Prompt supply of the grade remains tight in the wider ARA region, with lead times of 5–7 days recommended.

The port’s B100 price has declined by a greater $27/mt in the past week. PRIMA Markets last assessed the Dutch HBE rebate for B100 at $406/mt, up $16/mt from a week earlier.

Singapore’s VLSFO benchmark has remained unchanged over the past week. Lead times for the grade have grown longer, now standing at 6–18 days compared to 8–12 days the week before.

Liquid gases

Rotterdam's LNG bunker price has declined by $17/mt over the past week. The drop has largely been driven by a $10/mt drop in the bunker delivery premium over the Dutch TTF gas benchmark, which has fallen by $10/mt on the week to $83/mt.

LNG's discount to LSMGO has widened by a further $8/mt to $23/mt.

Singapore’s LNG bunker price has dropped by $51/mt in the past week. Asian LNG bunker prices typically track the NYMEX Japan/Korea Marker (JKM), which has declined by $0.82/MMBtu during the same period, pushing the front-month contract down to $11.27/MMBtu ($586/mt).

A price gap has "emerged between Asia and Europe amid stagnant demand in Asia, and the supply of US spot LNG to Asia increased due to arbitrage trading," according to JOGMEC.

Singapore’s LNG price has shifted to a $5/mt discount against LSMGO over the past week, down from a $41/mt premium. These prices include estimated EU compliance costs for Singapore–EU voyages.

By Konica Bhatt

Photo credit and source: ENGINE
Published: 29 April, 2025