Premiums for B24 marine biofuels soften in Singapore
February 7, 2024
| Meghan Sapp
In Singapore, Reuters reports premiums for B24 benchmark marine biofuel have softened in Singapore as feedstock prices fall together with stronger underlying fossil-based marine fuels due to Red Sea disruptions, while tepid demand has failed to keep the premium higher. The premium was as high as $200 per metric ton in Q3 2023 but has since fallen to around $140 in January. Last year’s marine biofuel demand tripled over 2022, reaching 1% of marine fuel demand at 520,000 metric tons.
Tags: B24, marine biofuels, Singapore
Category: Fuels