World News
IBIA CONVENTION 2025: China Unlikely to Rush Biofuel Blending Rule Changes Amid Weak Demand
China may have ample access to biofuel feedstock, but there has been little appetite to expand the range of marine biofuel blends sold in the market.
During a panel discussion at today's IBIA Annual Convention in Hong Kong, when asked whether China might permit wider biofuel blending, a representative from a local bunker supplier indicated that China is unlikely to move quickly to loosen its current rules.
He said that the relatively low demand for marine biofuel compared with conventional marine fuels remains the likely reason.
"It took China a few years to adopt from fossil marine fuel only to B24, which was announced last year," he added.
"And from what I understand, even after these policies are being imposed, the volume of the biofuel is significantly low compared to the rest of the barrel."
He noted that this makes the issue less urgent for policymakers.
"I would say, from the Chinese government's point of view, this is not something significant, not something important," he emphasized.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 465.00 | 0.50 | 743.00 | 1.50 |
| Rotterdam | 434.50 | 0.00 | 742.00 | 18.00 |
| Houston | 435.50 | 1.50 | 726.00 | 19.00 |
| Fujairah | 464.00 | 11.50 | 746.50 | 8.00 |
| Global 20 Ports Average | 493.00 | 1.00 | 804.00 | 7.00 |
| Global 4 Ports Average | 449.50 | 2.00 | 739.50 | 11.50 |
| Global Average Bunker Price | 539.50 | 0.50 | 833.50 | 4.00 |
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