Marine fuel suppliers and shipowners often use very-low sulphur fuel oil (VLSFO) wholesale (barge and cargo) prices and crude (Brent and Dubai) prices to hedge their VLSFO for bunkering sales and purchases. The significance of VLSFO wholesale and crude as hedging tools fell this year. Argus’ outright VLSFO bunker assessments are informed by a robust number of daily deals and are the best tool to use in contact indexations.
California starting next year will require commercial harbor craft vessels in the state to burn renewable diesel (R99) instead of ultra-low sulphur diesel (ULSD), increasing their marine fuel bills. The state’s environmental agency, California Air Resource Board (CARB), expects the switch to R99 to reduce nitrogen oxide (NOx) emissions by 30pc and particulate matter emissions by 10pc.
We discuss the current state of the European conventional bunker market and the latest developments in alternative marine fuels, touching on the European bunker markets’ recovery from Covid-19, pricing themes between the key European bunker ports, Argus’ new bunker indexes for the ARA and West Med hubs and more.
Hear about market trends and future perspectives for low-carbon fuels (LNG, ammonia, hydrogen, methanol and biofuels) and the impact of a possible lifting of Iran sanctions on the HFSO market.
Featuring expert insights from across the shipping industry, as well as stakeholders from the methanol and green ammonia sectors. This series of interviews will bring clarity to a much debated topic and contributors include Proman Shipping, Maersk, The Methanol Institute, ABS and Yara.
The currently embryonic but potentially huge market for ammonia as a low or zero carbon energy carrier is generating high levels of interest in the global energy industry and across multiple commodity markets.
The market has spoken. A poll conducted by Argus shows market participants think that Singapore’s future as a bunkering hub in the near term will be impacted most by growth in alternative bunker fuels and intensifying competition from other ports in Asia.