• Home
  • News
  • MABUX releases Bunker Weekly Outlook, Week 05
  • 2021 February 4 15:16

    MABUX releases Bunker Weekly Outlook, Week 05

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

    MABUX World Bunker Index demonstrated firm upward evolution over a week following the rise on oil prices globally. The 380 HSFO index rose from 365.37 USD/MT to 376.15 USD/ MT (+10.78 USD), VLSFO added 15.56 USD: from 460.94 USD/MT to 476.50 USD/MT while MGO gained 12.79 USD and rose from 516.85 USD/MT up to 529.64 USD/MT. Upward trend for Global Scrubber Spread (SS) (price difference between 380 HSFOs and VLSFOs) also continued: it widened by 2.56 USD and averaged 97.84 USD (95.28 USD a week ago).




     

     

     

     

     

     

     

     

     

     

    Correlation between MBP (Market Bunker Prices) and DBP (MABUX Digital Benchmark) in four global largest hubs over the past week showed that 380 HSFO fuel was moderately undervalued in all selected ports, with Houston recorded a 100% correlation between MBP and DBP indices for the first time. In other ports, the undercharging of 380 HSFO ranged from minus $ 3 (Fujairah) to minus $ 12 (Rotterdam and Singapore). At the same time, the prices of VLSFO fuel grade, according to DBP Index, remained moderately high in all selected ports in the range from plus $ 9 (Rotterdam) to plus $ 21 (Houston). The DBP also showed MGO LS was undervalued in all ports ranging from minus $ 15 (Fujairah) to minus $ 28 (Singapore), with the exception of Houston (overcharged by $ 7). All in all, there are no drastic changes in MBP vs DBP correlation trends registered for VLSFO and MGO LS fuels so far.



     

     

     

     

    In January, the DBP index at the Port of Rotterdam showed a slight undervaluation of 380 HSFO fuel and an overvaluation of VLSFO. 380 HSFO was undercharged by an average of $ 11.36 and VLSFO overcharging averaged $ 5.91. This trend continued in early February.




     

     

     

     

     

     

     

     

     

     

    As per the International Maritime Organization (IMO), a total of 55 cases (FONAR) of very low sulphur fuel oil (VLSFO) unavailability were recorded in 2020. Given that more than 60,000 ships plied the world's oceans in trade last year, this was a remarkably low percentage of ships encountering difficulty in obtaining compliant fuel. FONARs can be filed to a ship's flag state if it is unable to get compliant fuel at its next port of call but is not a guarantee of not being prosecuted by the flag or port state but will be taken into account.




2022 January 24

18:22 Nakilat takes delivery and management of fourth LNG carrier newbuild
18:09 CMA CGM and TotalEnergies launch Port of Marseille Fos’ first ship-to-containership LNG bunkering operation
17:55 Detachment of RF Navy’s Baltic Fleet went to sea to fulfill tasks of long-distance campaign
17:32 Raiffeisenbank opens USD 20 million credit facility for Sea Port of Saint-Petersburg
17:13 GTMaritime guide sets out future of maritime communications
16:50 Glavgosexpertiza approves construction of coal terminal Port “Vera” in Primorye
16:29 Salus Technical introduces its the cloud-based software Bowtie Master
15:58 Tersan shipyard lays down trawler for Magadan based fishing company Tikhrybkom
15:11 Wärtsilä hits methanol milestone with first newbuild engine order
14:30 Sea Port of Saint-Petersburg to take delivery of over 40 units of handling equipment and one 63-tonne crane in 2022
14:01 Dogger Bank announces supplier events for O&M phase
13:44 BW Offshore signed an agreement for the sale of the FPSO BW Joko Tole
13:21 Loko-Bank shareholder increased his share in FESCO to 26.52%
13:07 Royal Dutch Shell plc changes its name to Shell plc
12:44 FESCO increases number of transit container trains from CPV almost twice in 2021
12:23 EdgeTech rolls out the 6205s2 Swath Bathymetry & Side Scan Sonar System
12:18 PGS secures Northern Lights CO2 storage acquisition contract
11:52 Maersk Drilling secures 21-month contract with TotalEnergies
11:17 Second episode of a creative multimedia project named The Ecologist was launched in cooperation with Van Oord
10:49 Heerema announces contract with McDermott for Saudi Aramco’s Marjan Increment Program
10:42 Eastern Shipbuilding completes major infrastructure improvement project to support OPC program
09:28 Crude oil prices rise as demand increases
09:11 Baltic Dry Index as of January 21
08:37 MABUX: No firm trend on Global bunker market on Jan 24

2022 January 23

14:29 Record figures in Polish ports
13:52 Coast Guard to close southern Green Bay for commercial traffic
12:36 CMHI shipyard hosts a keel-laying ceremony for Ulstein designed expedition cruise vessel ‘Ocean Albatros’
11:47 SGMF releases updated version of LNG as a marine fuel – Safety and Operational Guidelines – Bunkering'
11:08 James Fisher Renewables secures high voltage safety management commissioning contract from Iberdrola’s Baltic Eagle offshore win
10:57 BW Ideol secures close to 1GW of offshore floating wind acreage in ScotWind leasing round
09:51 AIDA named Top Employer again

2022 January 22

14:06 Crowley names Marcus Jadotte as Senior VP, Government Relations
13:29 Kongsberg Digital joins the NorthWind project to develop digital twin technology for offshore wind
12:41 New year boost for MYCRANE as four lifting experts join the team
12:07 Mitsui O.S.K. Lines, Ltd. and Bombora Wave Power strengthen their collaboration through an investment
11:34 Carnival Cruise Line adding more embarkation enhancements as it commits to current protocols for the foreseeable future
10:54 Indian Register of Shipping strengthens focus on safety of Inland Waterways

2022 January 21

19:15 PortNews’ week updates and insights summary
18:20 More than 600 boxships stay off ports waiting for berth space, Seaexplorer disruption indicator shows
18:07 Green Innovation Fund adopts joint project on “Mass-production and Cost Reduction of Floating Offshore Wind Installation”
17:44 The new Stena Baltica has debuted on Stena Line’s Baltic Sea route from Ventspils to Nynäshamn
17:16 Port of Los Angeles breaks cargo record in 2021
17:06 Finnlines strengthens Germany-Sweden route with a fourth ship
16:36 Maersk opens its logistics center for South Western Europe at port of Barcelona
16:03 Dublin Port sees a small reduction in volumes in 2021
15:24 Kongsberg Digital joins the NorthWind project to develop digital twin technology for offshore wind
14:03 ClassNK issues Approval in Principle for ammonia-fueled Panamax bulk carrier developed by Planning and Design Center for Greener Ships (GSC)
14:02 TGE Marine announces completion of largest LNG Bi-Lobe Type C Tanks
13:23 Samskip adds 150 new sustainable reefer containers to its fleet
13:01 Icebreakers remain busy assisting shipping of the Gulf of Finland eastern part
12:13 Freight volumes increase at the Port of Gothenburg in 2021
12:12 Nippon Paint Marine’s new fastar antifouling earmarked for Cosco Shipping VLCC fleet
11:42 RZD invested heavily in its rolling stock upgrade in 2021
11:31 DP World launches a premium barge service between the Upper Rhine region and Rotterdam World Gateway
11:03 Israel orders three new submarines from thyssenkrupp Marine Systems
10:31 Port of Oakland import volume hit new record in 2021
10:11 Crude oil prices drop on US oil reserves growth
09:32 MABUX: Global bunker prices may slide down on Jan. 21
09:21 Baltic Dry Index as of Jan 20

2022 January 20

18:35 EuroDry announces agreement to acquire a 2014-built Supramax bulker