• 2021 February 25 20:19

    Bunker Weekly Outlook, Week 08, 2021

    The Bunker Outlook was contributed by Marine Bunker Exchange (MABUX)

    Oil prices spiked to 13-month highs after the Texas Freeze, which knocked out as much as 4 million bpd of U.S. oil production and 6 million bpd of refining capacity. The production outages have created a tighter supply situation that has been absent for most of the pandemic.

    MABUX World Bunker Index has shown firm uptrend during the week. The 380 HSFO index has risen from 406.63 USD/MT to 416.90 USD/ MT (+10.27 USD), VLSFO has added 15.97 USD: from 509.70 USD/MT to 525.67 USD/MT while MGO has gained 24.94 USD and has risen from 566.52 USD/MT up to 591.46 USD/MT. The Global Scrubber Spread (SS) – the difference in price between 380 HSFO and VLSFO – has not had any drastic changes during the week and averaged 105.66 USD (105.87 USD last week).





     

     

     

     

     

     

     

     

     

    SS Spread in Rotterdam has narrowed during the week from 111.00 USD up to 108.00 USD (-3.00 USD), but the average SS spread for the week has increased by 1.67 USD from 108.83 to 110.50 USD. In Singapore, SS Spread has risen during the week by 7.00 USD: from 122.00 USD to 129.00 USD, however, the average weekly SS index has fallen unexpectedly by 17.00 USD: from 143.17 USD last week to 126.17 USD.  All in all, SS upward trend has been slowing down and could turn into downward correction in the short term.



     

     

     

     

     

     

     

     

     

     

    Correlation of MBP Index (Market Bunker Prices) vs DBP Index (MABUX Digital Benchmark) in the four global largest hubs during the past week showed that 380 HSFO and MGO LS fuels remain undervalued in all selected ports. According to DBP Index, 380 HSFO was undercharged on average from minus 5 USD in Houston to minus 23 USD in Rotterdam. The MGO LS was also underpriced ranging from minus 20 USD in Fujairah to minus 37 USD in Singapore. In Houston there was a 100% correlation between the MBP vs DBP indices for MGO LS grade. The only fuel, according to DBP Index, remain overvalued in all selected ports is VLSFO. The overcharge ranged from plus 2 USD in Singapore to plus 17 USD in Houston.





     

     

     

    The Coalition for Energy of the Future has unveiled its first seven projects aimed at accelerating the development of more environmentally friendly future energies and technologies for the transport and logistics sectors. The coalition comprises 14 companies from a range of industries. The seven concrete actions include a biofuel project which aims to test the first bio-crude oil dedicated to maritime and develop the use of third generation biofuels. The coalition will also seek to draw a pathway for bioLNG toward carbon neutrality, highlighting key issues to be addressed. Other projects will look at green hydrogen for trucks, green electricity, a digital ‘ecocalculator’ of the global supply chain and intermodal green hubs.

    Source: www.mabux.com




2021 April 16

14:06 Navigation season 2021 opens in Saint-Petersburg
13:12 GTT upgrades its NO96 technology to further reduce the guaranteed Boil Off Rate
12:40 IMO asked to include industry standard on in-water cleaning in its on-going work
12:05 Valenciaport traffic up in March 2021
11:47 Consolidated marine container throughput of Global Ports declined 5.9% in Q1’2021
11:26 Tuapse Sea Commercial Port increased its throughput by 9% in 3M’2021
11:05 The newest ocean cruise ship “Viking Venus” delivered in Ancona
10:34 Rosterminalugol’s coal exports in 3M’21 totaled 6.05 million tonnes
10:12 Crowley begins use of biofuel to power tug Veteran
09:50 Finnish Government proposes amendments to Water Traffic Act
09:27 Oil prices are slightly up
09:09 Baltic Dry Index as of April 15

2021 April 15

18:45 The UAE aims to attain the No. 1 status in Global Food Security Index by 2051
17:58 Public Ferry Terminal in Gdynia to be completed in June
17:35 Tidewater chooses Topsoe’s HydroFlex™ and H2bridge™ technologies for renewable diesel production
16:57 Black Sea Fleet ships go to sea as part of a control check during the winter training period
16:40 Flex LNG and Cheniere enter into time charter party agreements
16:09 Jumbo Shipping and SAL Heavy Lift launch Jumbo-SAL-Alliance
15:44 Wärtsilä caps record-breaking year with scrubber order at Japan Marine United shipyard
15:32 ViaSea Shipping AS based in Norway launches its branch office in Gdynia
15:14 DNV awards world-first Smart notation to CMHI’s offshore rig
15:08 Bunker Weekly Outlook, Week 14, 2021
14:57 The company of the Riga Port produces world-class aluminum high-speed boats
14:36 Servicing Capesize vessels in the port of Riga facilitates access to new cargo and distant markets
14:31 Trafigura to co-sponsor development of MAN Energy Solutions ammonia engine
14:14 NextDecade and Mitsubishi Heavy Industries America sign ESA for carbon capture at Rio Grande LNG project in Texas
13:53 BHP, Oldendorff and GoodFuels successfully complete first trial with biofuel supplied in Singapore
13:35 Sparta III delivered cargo for construction of airfield in Arctic
13:13 UECC floats first of three LNG battery hybrid PCTCs
12:59 Cargo transit potential of Northern Sea Route estimated at several million tonnes per year
12:30 Seaports of Okhotsk Sea and Tatar Strait increased their throughput by 15% in 3M’21
12:11 DEME Offshore and Penta-Ocean establish JV to develop Japan’s offshore wind industry
11:41 Panama Canal Authority postpones planned price hike following calls from shipping industry
11:29 Atomflot estimates technical readiness of icebreaker Sibir at 88%
11:07 Georgia Ports Authority orders 28 Konecranes container cranes as larger ship traffic grows
10:34 BHP, Oldendorff and GoodFuels successfully complete first trial with biofuel supplied in Singapore
10:17 Traffic along the Northern Sea Route may become year-round in the near future – Vladimir Putin
10:16 Damen Shiprepair Amsterdam readies HNLMS Evertsen for voyage to Japan
09:52 Advanced technologies for HES waterproofing, repair and corrosion protection to be discussed at online webinar on April 27
09:33 Oil prices start decreasing after a period of growth
09:15 Baltic Dry Index as of April 14

2021 April 14

18:14 Stockholm Exergi orders Agilon automated warehouse solution from Konecranes
17:41 Throughput of Kaliningrad port in 3M’2021 fell by 13% Y-o-Y
17:41 Alblasserdam’s Container Transferium gets ready for further growth
17:12 ABS publishes guidance on shipping power and propulsion decarbonization technologies
16:53 Throughput of port Vyborg in 3M’2021 rose by 47% Y-o-Y
16:30 The Korean Register publishes technical report for ammonia fueled ships supporting the commercial adoption of ammonia as ship fuel
16:14 Throughput of port Vysotsk in 3M’2021 fell by 5% Y-o-Y
15:56 Throughput of port Primorsk in 3M’2021 fell by 22% Y-o-Y
15:32 GTT receives an order from Hudong-Zhonghua Shipbuilding (Group) Co. Ltd. for the tank design of a new LNG carrier
14:47 Omsk River Port to arrange pilot voyage for grain exports to China by Irtysh river this year
14:25 ABS joins SOFC4Maritime fuel cell development JDP
13:43 Krasnoye Sormovo shipyard launches RSD59 ship Nikolai Leonov built for Alfa LLC
13:22 Wärtsilä signs an agreement with NYK and MTI to evaluate Expert Insight predictive maintenance service
12:59 Port of HaminaKotka throughput in 3M’20201 fell by 2.3% YoY
12:20 Port of Oakland imports up 45 percent in March 2021
12:06 Port of Ust-Luga throughput in 3M’2021 fell by 5% Y-o-Y
11:34 FESCO and NtechLab to collaborate in digital field
11:10 Grimaldi Group buys five ro/pax vessels and two terminals in the ports of Valencia and Barcelona from Armas Trasmediterránea Group
11:02 Panama Canal provides additional time for implementation of Transit Reservation fees adjustments