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  • Bunker Weekly Outlook, Dec 03, 2020
  • 2020 December 3 17:02

    Bunker Weekly Outlook, Dec 03, 2020

    The Bunker weekly review was contributed by Marine Bunker Exchange (MABUX)

    Fuel Market sentiment has received recently a boost from signs of improving demand from Asia’s large crude oil importers, as well as news of successful COVID-19 vaccine trials that may help contain the global pandemic and revive oil and fuel demand.

    The World Bunker Index MABUX demonstrated firm upward evolution in November. The 380 HSFO index rose from 286.06 USD/MT to 324.60 USD/MT (+38.54 USD), VLSFO added 62.00 USD globally: from 330 USD/MT to 392 USD/MT. MGO LS also gained 65.47 USD and jumped from 395.54 USD/MT up to 461.01 USD/MT.

     

     

     

     

     

     

     

     

     

     

    The Global Scrubber Spread (SS) (price difference between 380 HSFOs and VLSFOs) has also followed general upward evolution in November: it has widened by 4.95 USD and averaged USD 57.41 (52.46 USD a week ago).

    November results of collation between the Market Bunker Price Index (MBP) vs MABUX Digital Bunker Price Index (DBP) in the four major hubs (Rotterdam, Singapore, Fujairah and Houston) still showed slight overcharging of 380 HSFO and VLSFO bunker fuel in all ports selected, while MGO LS prices were undervalued in Rotterdam in November by average 9 USD and in Singapore - by average 21 USD.

     

     

     

     

     

    Japan, South Korea and a number of international shipping groups have warned the European Union against its plan to add greenhouse gas emissions from the maritime sector to Europe’s carbon market. As the 27-country EU seeks to steer its economy towards “net-zero” emissions by 2050, the executive European Commission wants to expand its carbon market to shipping. The opposition side warned that adding shipping to Europe’s carbon market could stoke trade tensions, and cause extra emissions by prompting ships to take longer routes to avoid stops in Europe.

    The Shanghai International Energy Exchange (INE) is considering using oil storage sites in Singapore owned by PetroChina Co as a delivery point for its low-sulphur fuel oil futures contract. The INE’s move would be the first time a Chinese futures contract would be deliverable outside of China and could boost liquidity for the contract, as well as help to influence pricing for shipping fuel.

    VPS reported, the collapse in air and road travel has led to jet and motor fuels finding their way into the bunker pool, raising the volatility of all shipping fuels. When jet, gasoline and diesel are blended with marine fuels, it raises the prospect of lower flashpoints and with it the risk of fire on vessels. 17 of the 38 bunker alerts released by VPS in 2020 have been for flashpoint: the company has seen nine such alerts for marine gasoil, five for VLSFO and three for HSFO.




2021 November 29

18:19 Gazprom posts RUB 1.59 trillion of operating profit in 9M’2021
17:58 Wärtsilä partners with China Classification Society and Tianjin Port Group
17:17 Construction of ice protection facilities at Utrenny terminal under Arctic LNG 2 project to be completed in 2022
16:54 Wallenius Wilhelmsen names new CEO
16:50 Lloyd’s Register is the world’s first Renewable Energy Certification Body for marine energy
16:19 Handling of socially important cargo to be obligatory prioritized by operators of sea terminals
15:41 Average spot market price for Russian M100 product rose to RUB 26,672 pmt
15:22 13 million cbm of material to be dredged in 2022 as part of Sabetta seaport’s Seaway Canal reconstruction
14:46 Oboronlogistics delivered cargo to Abkhazia
14:13 X-Press Feeders signs for sixteen new 1,170 TEU vessels
13:34 Alexeev’s Hydrofoil Design Bureau launches yet another Valdai 45R hydrofoil for Chuvashia
13:05 COSCO SHIPPING Ports and CSTD sign JV agreement with Tianjin Port Holdings and China Merchants International Terminals
12:57 DNV publishes pioneering new competence standard and recommended practice
12:47 Baltic Workboats AS developed new standard in commissioning of vessels together with Siemens Energy
12:24 MABUX: Bunker prices may sharply decline on Nov 29
12:08 Small missile ship Veliky Ustyug enters Caspian Sea to perform training and combat missions
11:45 Russian Maritime Register of Shipping issues digest of main changes in RS Rules
11:26 UECC takes delivery of the world’s first dual-fuel LNG battery hybrid PCTC
11:00 Yana Voytsekhovskaya appointed as Editor-in-Chief of IAA PortNews
09:56 Crude oil market sees upward price correction
09:19 Baltic Dry Index as of November 26

2021 November 28

15:17 PGS awarded 4D contract in the North Sea
14:08 Cruises return to the Port of New Orleans with 285 ship calls estimated for 2022
13:54 Kalmar to deliver significant order of Straddle Carriers to MPET and PSA in Antwerp
12:41 Skipper ordered to pay reparation of $10,400 after collision with kayaker on the Whanganui River, NZ
12:17 Port of San Diego extends public review period for Draft EIR for PMPU
11:57 HAROPA PORT elected “Best Green Seaport 2021”
11:33 Contract award for MPSV Siem Dorado
10:48 Port of Dunkerque announces new appointments to its Executive Board

2021 November 27

14:38 Liquid Wind secures SEK 151 million for production of fossil free fuel
13:21 TECO 2030 receives NOK 50 million in government support for fuel cell development
11:09 Inmarsat offers future-proof remote control connectivity for latest sea-kit uncrewed surface vessel trials
10:54 J.P. Morgan and Havfram AS announce a series of next generation wind turbine installation vessels

2021 November 26

18:17 TECO 2030 is leading a project group that will build a hydrogen-powered high-speed vessel for the Port of Narvik
18:00 TransContainer’s IFRS-based net profit in 9M'2021 increased by 51% to RUB 14.8 bln
17:35 Royal Niestern Sander signs contract for walk to work vessel conversion
17:26 PortNews offers final edition of its magazine for 2021
17:15 Konecranes and Cargotec note CMA’s announced Provisional Findings regarding the planned merger of Konecranes and Cargotec
17:03 IMO appoints Special Advisor on Maritime Security
16:55 Nord Stream 2 delay weighs on gas prices - Gasum
16:40 Nevsky Shipyard lays down two research vessels of Project 17050
16:25 BIMCO calls for continued naval support in Gulf of Guinea after piracy incident
16:05 Alfa Laval and Orcan Energy sign a cooperation agreement for the marine market
15:43 Wärtsilä launches power limitation solutions for EEXI compliance
15:25 Hiab launches HIAB iQ.1188 HiPro loader crane with new control system
14:47 RF Government approves Transport Strategy of Russia until 2030 with forecast until 2035
13:59 Sredne-Nevsky Shipyard launches Anatoly Shlemov minesweeper of Project 12700
13:11 The Port of València hosts a rescue drill for a crane operator
12:10 GTT obtains tank design order for three new LNG Carriers from Hyundai Heavy Industries and Hyundai Samho Heavy Industries
11:54 Phase 2 of Bagayevsky hydrosystem construction begins
11:52 Ardmore moderates COP26 ‘ShipZero’ panels, discussing the realities of zero emission ships
11:17 ClassNK signs MOU on cybersecurity with Panama Maritime Authority (PMA)
10:51 MSC starts new In-Transit Cargo service
10:32 MABUX: Global bunker market to keep slight irregular fluctuations with no firm trend on Nov 26
10:22 Oboronlogistics' Ambal ferry obtaines certificate on safety management from RS
09:48 MPA and maritime partners maintain cybersecurity readiness through inaugural exercise
09:33 Baltic Dry Index as of November 25
09:17 Oil prices decrease on concerns over reduction of demand

2021 November 25

18:06 Rolls-Royce and Zhenjiang Shipyard to jointly promote tugs and workboats with mtu engines in China
17:44 Delo Group presented own Digitalization Strategy