Americas News
Bigger Biofuels Bunker Market Could Attract New Players
Supplying biofuels to ships in Montevideo is an option for Uruguay energy firm Alcoholes del Uruguay (ALUR), the firm's chief executive has said.
But any move would depend on a change in the international regulations on marine biofuels, Alvaro Lorenzo told Ship & Bunker at the Argus Oil Markets Forum held in London on Feburary 22.
"We're evaluating the potential for supplying bunker fuel in Montevideo and, potentially, Buenos Aires," he said.
Local changes to the energy market in Uruguay -- where a 5% biodiesel requirement for diesel has been scrapped -- have caused the firm to rethink its strategy.
"On the back of that change, we are looking at other markets for our products," Lorenzo explained.
If the company was to enter the local bunker market, it would do so on a supply/storage basis. Barging would be someone else's concern.
The River Plate estuary is a major shipping route for the region while Uruguay is strong on renewable energy particularly from hydro power.
ALUR, which is based close to the port of Montevideo, supplies biofuel and feedstock to state-owned ANCAP.
