The Port of Rotterdam Authority announced that total sales volumes of bunker fuel oil excluding bio bunker at the port in the quarter to June 2024 were at 2.21mil mt, declining by 418,958 mt from the quarter to June 2023 but rising by 65,087mt from the previous quarter to March 2024. Biofuel sales reached 236,033 mt, gaining 50,209 mt from the same quarter last year, but easing 26,601 mt from the quarter to March 2023. The biofuel sales volumes accounted for 9.6% of the total sales.
Along with delays in vessel arrivals, a number of vessels maintaining slow steaming operation reduced sales volume from the same period last year due to the Carbon Intensity Indicator (CII) rating system, which evaluates fuel efficiency performance. On the other hand, sales volumes have been supported by the long-haul voyages as more vessels avoided sailing the Suez Canal and took the longer routes through the Cape of Good Hope. Additionally, strikes by port workers at some ports in Germany led to an increase in bunker procurement opportunities at the Port of Rotterdam. Furthermore, the prolonged weakness in crude oil product crack margins resulted in a decline in refining activity in various European countries. This situation had made it easier for fuel to attract at the hub port of Rotterdam, thus supporting demand.
Sales of VLSFO with sulfur content of less than 0.5% were at 747,300 mt, dropping by 159,068 mt from the same quarter of last year but increasing by 66,518 mt from the previous quarter. For VLSFO with 30% of maximum bio-blend were at 158,911 mt, falling by 15,390 mt year-over-year but gaining by 13,941 mt from the quarter to March 2024.
LNG bunker sales, based on metric-ton calculations, surged to 109,319 mt, rising by 29,841 mt year-over-year and increasing by 12,458 mt from the previous quarter. With the price competition fierce, steady buying from car carriers and LNG vessels has been observed, leading to an increase in sales volumes. Additionally, 950 mt of bio-methanol and 990 mt of bio-LNG were sold.