• 2021 May 20 15:18

    Bunker Weekly Outlook, Week 20, 2021

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

    During Week 20, MABUX World Bunker Index has turned into firm downward movement.  380 HSFO index decreased by 16.48 USD: from 431.90 USD/MT to 415.42 USD/MT, VLSFO Index declined by 14.56 USD: from 529.61 USD/MT to 515.05 USD/MT, while MGO Index lost 6.30 USD (from 616.29 USD/MT to 609.99 USD/MT).

    The MABUX ARA LNG Bunker Index, calculated as the average price of LNG as a marine fuel in the ARA region, has increased during the last 3 weeks from 516.80 USD/MT to 607.67 USD/MT (+90.87 USD). During the same period, MGO LS prices have added only 18 USD/MT. Since May 6, the price of LNG as a marine fuel in Rotterdam has consistently exceeded the price of MGO LS by average 45 USD. LNG bunker price indices, TTF, NBP and Henry Hub gas futures, LNG bunker market news and more are available in the new LNG Bunkering section at www.mabux.com.

    The average Global Scrubber Spread (SS) - the difference in price between 380 HSFO and VLSFO - increased to 99.99 USD (versus 97.95 USD last week, plus 2.04 USD), i.e., almost has reached the psychological level of 100 USD. SS Spread in Rotterdam declined slightly during the week (minus 1.00 USD), but its average increased by 3.33 USD to 108.33 USD (105.00 USD last week). In Singapore, the SS Spread rose by 3.00 USD, but its average value remained practically unchanged: 112.50 USD (plus 0.67 USD). SS Spread in both ports stays well above 100 USD. More information is available in a new section under the Differentials section of www.mabux.com.

    Correlation of MABUX MBP Index (Market Bunker Prices) vs MABUX DBP Index (MABUX Digital Benchmark) in the four global largest hubs showed this week that 380 HSFO fuel remained undercharged in all four selected ports ranging from minus 5 USD in Houston (versus minus 3 USD last week) and minus 24 USD in Fujairah (versus minus 14 USD) to minus 37 USD in Rotterdam (versus minus 30 USD) and minus 48 USD in Singapore (versus minus 40 USD). The size of underpricing in all four selected ports increased slightly.

    The underpricing margins of VLSFO, according to the MABUX DBP Index, also slightly increased: in Rotterdam, the registered undercharge was minus 21 USD (vs minus 18 USD last week), in Fujairah - minus 44 USD (vs minus 37 USD), in Singapore - minus 45 USD (vs minus 36 USD). In Houston, on the contrary, the margin of VLSFO overcharge rose to plus 10 USD (versus plus 6 USD last week).

    MABUX DBP Index also recorded an undercharge of MGO LS fuel at all selected ports ranging from minus 24 USD in Houston (versus minus 25 USD last week) to minus 43 USD in Rotterdam (vs minus 40 USD), minus 50 USD in Singapore (unchanged) and minus 58 USD in Fujairah (vs minus 52 USD). In general, there are no major changes on the global bunker market so far.

    A new report from the International Energy Agency (IEA) says there is a ‘viable pathway’ to achieving a global energy sector with net-zero emissions by 2050 but it is a narrow one, requiring ‘an unprecedented transformation of how energy is produced, transported and used globally’. As per Report, climate pledges made by governments to date, even if fully achieved, would fall ‘well short’ of what is needed to cut CO2 emissions to net zero by 2050 and offer ‘an even chance’ of keeping the global temperature increase to 1.5 °C. It also paints an energy landscape that will look very different by 2050. Global energy demand will be around 8% smaller than today, but it will serve an economy more than twice as large and a population with 2 billion more people.

    The report also envisages ammonia, hydrogen and bioenergy demand rising from 0% of the marine energy market in 2020 to 8%, 2% and 7% respectively by 2030, and 46%, 17% and 21% respectively by 2050. Fossil oil takes up just over 15% of marine demand by 2050 in the lEA's scenario, while fossil gas's share is consistently less than 5% over the next three decades and negligible by 2050.

    Source: www.mabux.com

2021 September 26

17:45 USCG, Japanese navy conduct exercise near Dutch Harbor
14:51 Hidden Gem’ arrives in Rotterdam to be transformed into nodule collection vessel for The Metals Company
13:21 LR projects win funding to accelerate research into maritime decarbonisation
12:28 ESVAGT takes delivery of third newbuilt SOV vessel
11:07 ABS Awards AIP to Ned Project’s wind turbine installation vessel design

2021 September 25

15:03 Rolls-Royce and Sanlorenzo add new dimension to partnership with mtu engines and integrated bridge solutions
13:27 JAX LNG and TOTE complete first renewable LNG bunkering in the United States
12:41 Babcock cuts steel for Royal Navy’s Type 31 frigate HMS VENTURER at Rosyth
11:37 Höegh LNG Partners LP announces a new long-term FSRU contract for the Höegh Gallant
10:52 MYCRANE set to launch in four more countries as franchisees are appointed

2021 September 24

18:16 ABS and HHI design optimized LNG carriers
17:59 Admiralteyskie Verfi shipyard launches the Kapitan Martynov freezer trawler
17:55 Italian terminal operator orders two Konecranes Gottwald Mobile Harbor Cranes
16:12 Three Finnish icebreakers return to service after being repaired at Turku Repair Yard
15:03 Maersk invests in electrofuels startup company
14:40 International conference “Inland waterways: strategic potential for growth” focused on INFUTURE project was held on September 20
14:13 Dredge spoil disposal system planned for fairway deepening project
13:57 LAS Vice Admiral Kulakov went to the Atlantic
13:33 Wärtsilä ensures optimal performance and minimal carbon footprint for world’s most environmentally friendly ferry
13:09 Wan Hai Lines holds online ship naming ceremony for new vessels
12:38 Sredne-Nevsky Shipyard launched unmanned research ship Pioner-M
12:10 Record mid-year cargo volumes through the Port of Vancouver in 2021
11:46 SCF Group wins sci-tech award for development in Arctic exploration
11:02 Rolls-Royce and Overmarine continue cooperation with future-oriented mtu technologies
10:07 Tallink Grupp secures another short-term charter deal for vessel Silja Europa
09:59 MPA, SSA and GCNS sign MoU to raise carbon accounting capabilities amongst maritime companies in Singapore
09:41 MABUX: Global Bunker Market may continue firm upward trend on Sept 24
09:24 Crude oil prices continue increasing
09:09 Baltic Dry Index as of September 23

2021 September 23

18:05 Maersk calls Jafza home for its first Warehousing & Distribution facility in the UAE
17:25 GTT and Deltamarin receive AiP from American Bureau of Shipping for their new design applied for LNG fueled tanker
17:05 LR grows fleet optimisation offering with GreenSteam acquisition
16:25 The Port of Rotterdam Authority helps German DeltaPort to be a regional hydrogen hub
16:15 Panama Canal joins to the Call to Action for Shipping Decarbonization
15:39 Dry cargo vessel of RSD59 design, Alexander Ivanov, leaves for sea trials
15:21 ABS grants AIP for next generation liquified CO2 carrier JDP designs
15:05 Synergy Group to take over Maersk Tankers’ technical management business
14:37 DNV and LISCR award AiP to HHI for 40,000 CBM liquefied CO2 carrier design
14:17 Kaliningrad region and FESCO to cooperate in the field of logistics
13:48 Damen can build icebreaking ships for Russia’s Arctic projects within short timeframes
13:25 Sweden’s largest port solar cell system inaugurated at Stockholm Norvik Port
13:15 MABUX: Bunker Weekly Outlook, Week 38, 2021
12:56 Keel-laying of Damen tug series for Atomflot held in Saint-Petersburg
12:51 MSC invests in new efficiency solution to reduce emissions from fleet
11:00 13th Annual Capital Link Shipping & Marine Services Forum took place with great success on September 13, 2021
11:00 Rolls-Royce and Sea Machines sign partnership to cooperate on smart ship and autonomous ship control solutions
10:34 APM Terminals partners with Siemens for energy optimisation and emission reduction at terminals
09:58 Torqeedo and Fassmer Shipyard announce the CIT-E Ferry - a passenger ferry for public transport
09:46 MABUX: Global Bunker Market may demonstrate firm upward evolution on Sept 23
09:29 Crude oil prices continue increasing
09:14 Baltic Dry Index as of September 22

2021 September 22

18:05 ClassNK joins as signatory to Call to Action for Shipping Decarbonization
17:47 Localization level of LK-60 icebreakers estimated at 92% in finance terms
17:20 Torvald Klaveness joins over 150 industry leaders and organizations in call for decisive government action to enable full decarbonization of international shipping by 2050
16:55 SC Zvezda counts on signing contracts for 10 tankers under Vostok Oil project in October 2021
16:31 Transition to unmanned navigation and navigation with reduced crews will be possible in Russia in three years
16:30 LR, HHI and KSOE sign MoU to develop digital twin technology for an LNG carrier
16:10 APM Terminals Pipavav marks 1,000 days of safe operations
15:39 Wärtsilä and SHI agree to collaborate on ammonia fuelled engines for future newbuilds
15:14 NAVTEK proves first zero-emissions tugboat performance