Biodiesel – Argus launches first B24 Mediterranean spot value evaluation.
World power and commodity value reporting company Argus has launched a brand new Mediterranean marine biodiesel value evaluation for B24, a mix of 24% used cooking oil methyl ester and 76% very-low sulphur gas oil.
The brand new day by day dob Algeciras-Gibraltar value joins Argus’ present international suite of marine biodiesel value assessments together with costs for blends containing used cooking oil methyl ester, ‘superior’ biodiesel produced from feedstocks listed in Annex IX half A of the EU’s Renewable Power Directive, and, within the US, different crop-based biodiesel grades.
Costs are supplied for the important thing bunkering areas of Singapore, northwest Europe, the Mediterranean, New York and Houston.
Marine biodiesel blends corresponding to B24 are engaging to shipowners as they’re suitable with present engine applied sciences. Marine biodiesel delivers an instantaneous carbon discount with out the necessity for top capital funding to satisfy upcoming regulation, together with the extension of the EU’s Emissions Buying and selling System to transport from January 2024.
At a world scale, below Worldwide Maritime Organisation laws, mixing biofuel into typical marine gas can enhance the Carbon Depth Indicator (CII) of a vessel. Shipowners looking for to delay new vessel funding selections might use marine biodiesel to enhance CII rankings of present vessels.
Adrian Binks, Argus Media chairman and chief government stated:
Argus is the one value reporting company providing a world suite of marine biodiesel costs that mirror shipowners’ international bunkering operations.
“Our new B24 Mediterranean value is underpinned by our conventional evaluation methodology and supplies necessary transparency primarily based on spot market exercise to the rising marine biodiesel market.”
The brand new B24 dob Mediterranean value is predicated on bodily spot market info together with offers, bids and gives regarding gas loaded at Algeciras/Gibraltar on the southern tip of Spain.
About Argus Media
Argus is the main impartial supplier of market intelligence to the worldwide power and commodity markets. We provide important value assessments, information, analytics, consulting providers, information science instruments and business conferences to light up complicated and opaque commodity markets.
Headquartered in London with 1,300 workers, Argus is an impartial media organisation with 29 places of work on the earth’s principal commodity buying and selling hubs.
Firms, buying and selling corporations and governments in 160 nations all over the world belief Argus information to make selections, analyse conditions, handle danger, facilitate buying and selling and long-term planning. Argus costs are used as trusted benchmarks all over the world for pricing transportation, commodities and power.
Based in 1970, Argus stays a privately held UK-registered firm owned by worker shareholders, international progress fairness agency Common Atlantic and Hg, the specialist software program and expertise providers investor.
Argus launches first B24 Mediterranean spot value evaluation, November 2, 2023
