For first time since early April, key diesel benchmark price increases

On the back of significant gains in the futures market for ultra low sulfur diesel (ULSD), the benchmark used for most fuel surcharges rose Monday for the first time in 10 weeks.

The weekly Department of Energy/Energy Information Administration average weekly retail diesel price climbed 7.7 cents a gallon to $3.735. That follows nine weeks of declines from a price of $4.061 a gallon on April 6, with the low having been recorded last week at $3.658.

The increase is the largest since a whopping...

Singapore Conventional Bunker Sales Rise 14% In May

Singapore’s MGO, VLSFO and HSFO sales grew by 20%, 17% and 9%, respectively, in May, reports Engine.

In May, 3,532 vessels were bunkered in the Southeast Asian bunker hub, a significant increase of 143 from 3,389 in April, according to preliminary figures from the Maritime and Port Authority of Singapore. The average stem size also rose substantially by 115 mt to 1,337 mt in May.

Meanwhile, total bunker sales across the first five months of the year were 5% higher compared to the same period last...

Fuel Switch Snapshot: Bio-Bunker Premiums Grow Even Bigger

Despite rising VLSFO prices over the past week, VLSFO still remains the most affordable bunkering alternative for dual-fuel ships without scrubbers in both Rotterdam and Singapore, even when you factor in estimated EU Allowances (EUAs) costs.

Rotterdam’s B24-VLSFO premium over pure VLSFO has widened by $13/mt in the past week and reached $175/mt. It has also climbed $138-148/mt above the price of fossil LNG in the port.


Rotterdam’s VLSFO benchmark increased by $12/mt in the past week, which...

Key retail diesel price drops again, but is the bear market turning?

Retail diesel prices continue their downward trend, declining for the ninth week in a row as measured by the number used as the basis for most fuel surcharges.

The Department of Energy/Energy Information Administration weekly average retail price fell to $3.658 a gallon, a decline of 6.8 cents. The scorecard on the price is that the one-week decline is the largest since Dec. 18. The price has declined in 10 of the past 11 weeks and since the high level of the current cycle is down 88.7 cents a...

Fuel Switch Snapshot: VLSFO Retains Cost Advantage

VLSFO remains the cheapest bunkering alternative for dual-fuel ships in Rotterdam and Singapore, even with estimated EU Allowance (EUA) costs included in their bunker fuel costs. HSFO is the cheapest option for scrubber-fitted ships.

Prices dropped

LNG prices dropped over the past week, but they still remain $9-22/mt higher than VLSFO in Rotterdam and $34-40/mt higher in Singapore.

Rotterdam’s bio-bunker premium over LNG has remained steady, while Singapore’s bio-premium over LNG has climbed...

ClassNK Enhances Safety Guidelines For Hydrogen And Alternative Fuels

Guidelines (Edition 3.0)

Tokyo – ClassNK has released the “Guidelines for Ships Using Alternative Fuels (Edition 3.0)”. In addition to safety requirements for ships using methanol, ethanol, LPG, and ammonia as fuel, this edition newly adds requirements related to hydrogen-fueled ships, providing guidance for the design of alternative-fueled ships.

The guidelines comprehensively describe safety requirements for alternative-fueled ships. It stipulates requirements for installation, controls, safety...

Zhoushan’s June Ex-wharf LSFO Term Narrows Slightly

June term contractual ex-wharf 0.5%S marine fuel cargoes at China’s largest bunkering hub of Zhoushan narrowed slightly on the month to about $8-$10/mt to the benchmark FOB Singapore 0.5% marine fuel cargo values, sitting at the lower end of May terms inked at about $8-$12/mt, traders said May 31.

Barging Fees Eased

Barging fees eased on the month to about $6-$7/mt, market sources said, from $10/mt for May, when barging availability was drastically tightened amid a government crackdown on barges...

ISO Publishes ISO 8217:2024 Standard on Marine Fuel Specifications

On May 30, the ISO announced the release of ISO 8217:2024, a revised marine fuel specification standard. This edition includes new tables for ultra-low sulfur fuels and bio-residual fuels, introduces new grades, and updates existing ones. The standard focuses on fuel quality, engine performance, environmental compliance, and safety. Key updates in Clauses 5 and 6 address bioproducts, added substances, and FAME content. VeriFuel will continue to test according to previous standards for the next...

Benchmark diesel price falls for eighth straight week as futures plummet

The benchmark diesel price used for most fuel surcharges fell Monday for the eighth consecutive week by an amount that is dwarfed by the ongoing decline in the diesel futures market.

This week’s Department of Energy/Energy Information Administration average weekly retail price declined by 3.2 cents a gallon to $3.726. During that eight-week period, the price is down 33.5 cents a gallon. It’s also now 7.1 cents less than where it was a year ago.

Retail prices lag moves in wholesale and futures...

Come, POMEME Rates Continue To Rise In Europe

  • Singapore’s B24 discount to Rotterdam’s B30 widens
  • Biodiesel prices rise in Europe
  • Low bio-bunker demand in ARA

Singapore’s B24-LSMGO and B24-VLSFO prices have shed $1-4/mt in the past week. The bio-bunker prices have come down amid a $5/mt drop in UCOME FOB China, according to PRIMA Markets. PRIMA says, “sellers [Chinese] are growing weary of the lack of overseas interest amid inflated freight rates and the EU’s anti-dumping investigations, which are expected to be concluded by June...

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