HSFO remained the largest bunker fuel grade by volume at the Port of Rotterdam in the second quarter, while LNG bunker sales jumped to a record high, according to Ship & Bunker.
HSFO sales had first overtaken VLSFO in Rotterdam's first-quarter sales, and retained that position in Q2, according to the latest bunker demand figures from the port authority.
For every previous quarter since Q4 2019, just before the IMO imposed a global 0.50% sulfur limit on bunker fuels, VLSFO took up the most demand.
The change may be related to diversions from the Red Sea since late last year because of attacks on commercial shipping in the area, local trading sources told Ship & Bunker.
Container ships are more likely to have scrubbers installed, and these ships now need to pick up greater quantities of fuel at the start and end of their voyages to cover longer voyages around Africa, travelling at greater and less fuel-efficient speeds.
HSFO's average discount to VLSFO a key measure of the profitability of scrubbers -- stood at $91.50/mt at Rotterdam in the second quarter, according to Ship & Bunker data, down from $118.50/mt the previous quarter.
Total conventional and biofuel sales reached 2.346 million mt in the second three months of the year, according to data published on Tuesday by the Port of Rotterdam. The total was up by 1% from the previous quarter, but down by 8.6% from Q2 2023. Conventional VLSFO sales lost 17.6% on the year to 747,300 mt in Q2, HSFO fell by 2.6% to 825,125 mt, ULSFO dropped by 23% to 169,953 mt, MGO advanced by 2.8% to 260,839 mt and MDO sank by 28.3% to 108,428 mt.
Biofuel blend sales surged by 26% to 234,093 mt. HSFO's share of total conventional and biofuel demand was 35.2%, up from 33% a year earlier. Since the start of 2020 its average share has been 31.4%.
At the same time, LNG bunker sales jumped by 35.1% on the year to 242,931 m3 in Q2, a new record high.