Marine fuel global weekly market update
A weekly Argus news digest of interest to the conventional and alternative marine fuel markets. To speak to our team about accessing the stories below and access to Argus Marine Fuels, please contact marinefuels@argusmedia.com.
Alternative marine fuels
25 August Shipping needs blue ammonia to decarbonise fast: study The shipping sector needs to adopt blue ammonia as part of the bunker fuel mix to achieve timely decarbonisation, and substantial growth of CO2 storage infrastructure could support this in the coming years, according to a study by Denmark’s Maersk Mc-Kinney Moller Center for Zero Carbon Shipping.
25 August India’s Acme secures land for Odisha green ammonia site Indian renewables developer Acme has secured land for a planned 1.3mn t/yr renewable ammonia plant in the eastern state of Odisha, and is teaming up with Japanese engineering firm IHI for the project.
24 August Titan performs first LNG bunkering for Hamburg Dutch shipping frm Titan has completed the first two ship-to-ship (STS) LNG bunkering operations in Germany’s Hamburg port.
24 August Sweden’s Biokraft commissions 220 GWh/yr bio-LNG plant Swedish biogas company Biokraft’s biomethane liquefaction unit in Glado Kvarn has started operations and delivered a first batch of liquefied biomethane (Bio-LNG).
24 August Brazil’s VP defends sooner B100 blend hike Brazilian biodiesel producers asked the government to bring forward the 15pc diesel blending mandate to 2024 from 2026, Brazil’s vice-president and trade minister Geraldo Alckmin said.
24 August CNOOC, shipowners form JV to build six LNG carriers China’s state-owned CNOOC has formed a joint venture with Japanese shipowner Nippon Yusen Kaisha (NYK) and Chinese state-controlled shipowner China Merchants (CMES) to build six 174,000m³ LNG carriers.
24 August Argentina’s biofuel price hike faces criticisms Argentina’s government is facing rising opposition as it tries to keep fuel prices down amid spiralng inflation and depreciation of its currency.
23 August Dutch ReFuels building UK biomethane station European supplier of renewable biomethane ReFuels has begun construction of a bio-CNG refuelling station in southeast England.
23 August Kairos LNG bunkering vessel restarts operations The 7,500m³ LNG bunkering vessel Kairos has returned to operations after grounding near Amsterdam at the start of July, Germany’s Bernhard Schulte Shipmanagement (BSM) confirmed.
23 August China launches methanol dual-fuel container vessel The first Chinese-built methanol dual-fuel container vessel launched this month at Yangzhou in east China’s Jiangsu province.
23 August China’s Sinopec eyes three LNG carriers for US offtake China’s state-owned Sinopec intends to order three 175,000m³ LNG carriers to help load its fob offtake from US firm Venture Global’s planned 27.2mn t/yr Plaquemines terminal, Sinopec said in a regulatory filing.
23 August BW Lesmes LNG vessel runs aground in Suez Canal The empy 174,000m³ BW Lesmes LNG carrier ran aground in the Suez Canal on the evening of 22 August, before being hit by the Burri tanker and temporarily halting traffic through the canal.
22 August China Gas orders two LNG carriers Chinese gas distributor China Gas through its joint venture with Sea Jade Investment Limited, has bought two LNG vessels of 175,000m³ each from state-owned shipbuilder China State Shipbuilding’s (CSSC) Dalian shipyard, the firm said on 21 August.
22 August EU sets out ‘neighbouring’ ports under ETS The European Commission is consulting on the designation of Egypt’s East Port Said and Morocco’s Tanger Med as neighbouring container transshipment ports under the bloc’s revised emissions trading system (ETS).
22 August Rotor-sail Kamsarmax makes first voyage in Asia-Pacific A Kamsarmax bulk carrier fitted with rotor sails has completed its first voyage from China’s Jiangyin city to Australia’s Newcastle city on 26 July.
22 August Cargill to buy Granol biodiesel unis in Brazil US trading firm Cargill will buy three crushing and biodiesel plants and four warehouses from Brazilian soy processor and biodiesel producer Granol.
21 August Avance Gas orders two more MGC LPG/Ammonia carriers Oslo-listed shipowner Avance Gas has purchased two more LPG/ammonia vessels, doubling its move into the ammonia midsize gas carrier (MGC) market.
21 August China’s biodiesel, UCO exports rebound on month in July Chinese biodiesel and used cooking oil (UCO) exports rebounded in July as the arbitrage window to Europe widened since June.
21 August China mulls response to EU biodiesel trade probe China’s chamber of commerce for metals, minerals and chemical importers and exporters (CCCMC) will hold a virtual meeting on 24 August for biofuels market stakeholders to discuss the EU’s investigation into trade measure circumvention.
21 August EU UCO imports rebound in 2Q Used cooking oil (UCO) imports into the EU recovered during April-June after falling for two consecutie quarters, while soybean oil (SBO) imports were a quarter higher than in the same period last year, preliminary data from GTT show.