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Alternative Fuels

SIBCON 2024: EMF, Argus Media point towards traditional benchmarks as baseline for shipping’s multi-fuel future

‘We also realise it is very capital intensive to offer multiple fuel solutions, and that’s why we are also embracing the spirit of collaboration,’ shared Executive Director at EMF.

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Zhen Mao EMF

Representatives of Singapore’s largest bunker supplier Equatorial Marine Fuel Management Services (EMF) and independent market intelligence provider Argus Media shed light on the evolving marine fuels landscape and complexities involved in pricing and adoption of alternative fuels.

They were part of the Fuel Price Projections and Impact on the Multifuel Marketplace panel discussion session that took place on Thursday (10 October) during the 23rd Singapore International Bunkering Conference and Exhibition (SIBCON 2024).

Choong Zhen Mao, Executive Director, EMF emphasised the importance of the traditional bunker fuel market as a benchmark for the emerging alternative marine fuels sector. 

Conventional fuels such as fuel oil and gas oil have been the dominant players in the shipping industry for a long time, and they will continue to serve as a reference point for pricing and decision-making.

He also highlighted the need for optionality and flexibility in the marine fuel supply chain, as shipowners and operators are now building dual-fuel vessels to have the ability to use different types of bunker fuels. 

As a Singapore-based bunker supplier, EMF is also trying to offer multiple fuel solutions to cater to this demand for optionality.

“However, we also realise it is very capital intensive to offer multiple fuel solutions, and that’s why we are also embracing the spirit of collaboration. We’re working with different people to offer different kind of fuel products to the shipping sector,” shared Mr Choong.

“Besides methanol, we are working with some of our suppliers to offer B24 biofuel as well. We are in the process of locking in the key components for B24 to create a consistent blend and specifications for customers.”

Mahua Argus

Mahua Chakravarty, Editor, Marine Fuels (Asia) at Argus Media, also moderator for the panel discussion session, provided an overview of the current fuel landscape in Singapore, highlighting the growth in B24 (biofuel blend) and liquefied natural gas (LNG) consumption as a bunker fuel.

B24 consumption in Singapore has seen significant growth, increasing from around 110,000 metric tonnes (mt) in 2022 to over 500,000 mt in 2023, with further expected growth in 2024.

She observed B24 prices in 2023 were initially more aligned with conventional marine fuels. However, as liquidity in the B24 market improved, the prices started to diverge and become more independent.

In fact, B24 prices saw a 9.3% year-on-year decline in line with biofuel prices, indicating a more market-driven pricing mechanism.

 Argus Consulting

Argus Consulting

Looking ahead, Argus Consulting forecasts that the B24 premium will rise further in 2025 as demand increases, driven by regulations like Fuel EU Maritime, Mahua said.

“We do see that the premiums are really holding up as we go into 2025 due to the uptake of biofuels as a marine fuel. Biofuels being the easy solution, are a drop-in solution for shipowners,” she explained.

“Although prices of Brent, VLSO and HSFO have been quite firm, the premiums of B24 [versus VLSFO] have really been driven a lot by consumption.”

 

Photo credit: Manifold Times
Published: 15 October

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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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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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Alternative Fuels

St1 delivers first locally produced biomethane to Swedish maritime sector for bunkering

St1 and its venture St1 Biokraft delivered their own Swedish-produced liquefied biomethane to Terntank’s vessel “Tern Ocean” in a bunkering operation at Port of Gothenburg.

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St1 delivers first locally produced biomethane to Swedish maritime sector for bunkering

Finnish energy company St1 and its venture St1 Biokraft delivered their own Swedish-produced liquefied biomethane, also known as bio-LNG, to the local maritime sector for the first time, according to Port of Gothenburg on Thursday (15 May). 

Terntank’s vessel Tern Ocean was bunkered with the biomethane at the Port of Gothenburg. 

St1 and St1 Biokraft are now aiming to become large-scale suppliers of biomethane for shipping, while the Port of Gothenburg continues to pursue its goal of becoming Scandinavia’s primary bunkering hub for alternative fuels.

The bunkering operation recently carried out at quay 519 in the Port of Gothenburg was an important pilot test for St1 and St1 Biokraft as suppliers of biomethane to the maritime sector. The operation also served as a pressure test of the collaboration required across all parts of the value chain, with Terntank, gas infrastructure owner Nordion Energi, and the producers themselves all playing crucial roles.

“In order to accelerate the maritime sector’s transition, it is essential that all actors across the value chain pull in the same direction, cooperate, and translate ambitions into practice. We are pleased to have all of this in place at the Port of Gothenburg,” said Therese Jällbrink, Head of Renewable Energy at the Port of Gothenburg.

“Liquefied biomethane is an important part of the fuel palette that must be available to support the shipping industry’s transition. It is one of the fuels the Port of Gothenburg is working with within the framework of green shipping corridors, aimed at creating the conditions for fossil-free logistics chains. This bunkering operation brings us another step closer to our ambition of becoming Scandinavia’s primary bunkering hub for alternative fuels.”

St1 and St1 Biokraft have ambitions to become large-scale suppliers of liquefied biomethane for the maritime sector, with several new production facilities planned across Sweden.

In 2026, energy infrastructure company Nordion Energi will build a liquefaction facility for biomethane at the Port of Gothenburg, which will be connected to the West Sweden gas grid. With the facility in place, a new opportunity will be created for biomethane producers connected to the gas network to reach the maritime market.

“Once the liquefaction plant is completed, we will have a solid solution in place at the Port of Gothenburg. This is a strategic step towards our goal of scaling up and offering competitive liquefied biomethane to the shipping sector, thereby taking a leading position in this segment,” said Ted Gustavsson, Head of Value Chain at St1 Biokraft.

 

Photo credit: Port of Gothenburg
Published: 16 May, 2025

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