World News
Moeve Brings Biofuels to the Canary Islands
Moeve and Armas Trasmediterránea today announced they have signed a contact that will see Moeve supply approximately 40,000 tonnes of its 2G biofuel by the end of the year.
With supply under the contract taking place mainly in the Canaries, the deal is Moeve’s largest biofuel supply to date and its first in the Canary Islands.
A framework is in place to extend the deal into 2026.
Ship & Bunker understands that the first stems under the contact have already taken place in Las Palmas and Tenerife.
Moeve's 2G biofuels are also available for commercialization to third parties in the Canaries.
Second-generation (2G) biofuels are produced from non-food biomass, such as waste or inedible plant materials, making them more sustainable and less competitive with food production than first-generation alternatives.
Moeve already supplies marine biofuels in Ceuta and other locations in Spain, and its expansion into the Canary Islands adds to the growing network of biofuel bunkering locations in the region.
The firm produces these biofuels at the San Roque Energy Park (Cádiz) and the La Rábida Energy Park (Huelva).
New rules that mean ship's emissions must be paid for have lead to a surge of interest in biofuels.
Moeve's entry into the Canary Islands market will offer shipowners a new option for biofuel bunkering in the region.
The firm says its 2G biofuel reduces CO2 emissions by up to 90% over its entire life cycle compared to its fossil alternative.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 570.50 | 1.50 | 729.00 | 9.50 |
| Rotterdam | 527.50 | 1.00 | 742.00 | 14.00 |
| Houston | 555.00 | 6.00 | 767.00 | 9.50 |
| Fujairah | 559.00 | 0.50 | 787.00 | 3.50 |
| Global 20 Ports Average | 589.00 | 1.00 | 818.00 | 14.50 |
| Global 4 Ports Average | 553.00 | 1.00 | 756.00 | 9.00 |
| Global Average Bunker Price | 616.50 | 1.00 | 838.50 | 7.50 |
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