• 2021 June 10 17:00

    MABUX: Bunker Weekly Outlook, Week 23, 2021

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

    During Week 23, MABUX World Bunker Index showed moderate irregular fluctuations. The 380 HSFO index has decreased by 1.70 USD: from 442.04 USD/MT to 440.34 USD/MT, the VLSFO index has fallen by 1.35 USD: from 546.43 USD/MT to 545.08 USD/MT, while the MGO index added 2.01 USD (from 628.68 USD/MT to 630.69 USD/MT).

    MABUX ARA LNG Bunker Index - the average price of LNG as a marine fuel in the ARA region, has risen sharply during the week by 37.02 USD from 598.58 USD/MT to 635.60 USD/MT. At the same time, the average value of LNG Bunker Index also increased by 17.03 USD. The average price for MGO LS for the same period has increased by 13.66 USD/MT. Accordingly, the average price difference between bunker LNG and MGO LS in Rotterdam has increased significantly and is at 48.30 USD (versus 33.58 USD last week). 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 weekly Global Scrubber Spread (SS) - the difference in price between 380 HSFO and VLSFO - has risen by $ 3.59 during the week and is above the psychological mark of $ 100: $ 105.87 (versus $ 102.28 last week). At the same time, the average value of SS Spread in Rotterdam also has increased by $ 6.84 and reached $ 116.67 ($ 109.83 last week). In Singapore, the average SS Spread also has risen by $ 4.33 to 117.83 USD ($ 113.50 last week). Thus, the values of the SS Spread index in both ports are almost equal and are well above the $ 100 mark, which makes the installation of scrubbers even more cost-effective. More information is available in 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 during the past week showed that 380 HSFO fuel remained undervalued in all four selected ports ranging from average minus $ 23 in Houston (versus minus $ 15 last week) and minus $ 19 in Fujairah (vs. minus $ 18) to minus $ 37 in Rotterdam (vs. minus $ 34) and minus $ 46 in Singapore (vs. minus $ 52). The most significant changes in underestimation ratio were recorded in Houston (up $ 8) and Singapore (down $ 6).

    VLSFO fuel, according to MABUX DBP Index, was also underpriced in all four selected ports: in Houston the average underestimation was minus $ 7 (minus $ 3 last week), in Rotterdam - minus $ 21 (unchanged), in Fujairah - minus $ 41 (versus minus $ 40), in Singapore - minus $ 44 (versus minus $ 47). Undervalue margins in all ports have changed slightly.

    As for MGO LS, MABUX DBP Index has registered an undercharge of this grade at all selected ports ranging from minus $ 27 (unchanged from last week) in Houston to minus $ 45 (unchanged) in Rotterdam, minus $ 54 (vs. minus $ 49) in Singapore and minus $ 51 USD (versus minus $ 53) in Fujairah. Here, no significant changes in the underestimation ratio were registered either.

    Maersk has proposed a carbon tax on ship fuel of $450 per ton of fuel – equating to $150 a ton of CO2 – as a ‘levy to bridge the gap between the fossil fuels consumed by vessels today and greener alternatives that are currently more expensive’. As per Maersk, ‘Fossil fuels cannot keep being cheaper than green fuels. Action is required now. It is vital to consider all greenhouse gases, not just CO2, on a full life cycle analysis, otherwise we will not be able to truly decarbonize shipping by 2050 in line with the Paris Agreement’. The proposal sparked mostly positive reactions but one theme running through some of the responses was that such a tax could place a heavy burden on smaller players, and others said they prefer to see carbon trading rather than a carbon tax.

    Source: www.mabux.com




2021 August 4

18:27 CTRL Marine Solutions announce their acquisition by Campbell Johnston Clark
18:07 IMCA signs Gulf of Guinea Declaration on the Suppression of Piracy
17:46 Shipyard OKA launches the Alexander Ivanov, ninth dry cargo ship of RSD59 series
17:36 PSA & Samudera strengthen strategic partnership in cargo solutions and logistics
17:16 KMZ supplied water jet ejectors for a new small sea tanker of project 03182
17:15 Iridium announces partnership with Canadian Coast Guard
16:20 Port of Tanjung Pelepas jumps to 15th in world ranking
16:05 DNV and Nakilat JDP works to improve vessel software reliability and quality
15:41 Kawasaki Heavy Industries, Yanmar Power Technology and Japan Engine Corporation establish a new company HyEng Corporation
15:36 Akhtarskaya Shipyard launches RS "Chernomorets"
15:27 Registration to Development of Icebreaking and Support Fleet Int'l Conference still underway
14:43 KhMAO-Yugra to take delivery of Meteor 120R hydrofoil duo in 2021-2022
14:11 ClassNK grants its first DSS notation for 211,000DWT bulk carrier “DREAM CLOVER”
13:59 ”K” LINE and Chubu Electric Power commence joint development agreement for tidal energy project in Canada
13:40 Vostochnaya Verf completed shipyard's sea trials of the Okhotsk
12:06 LORP fleet carried 670 000 tonnes of cargo since the start of this year shipping season
11:09 Western Australia looks to implementing stricter controls
10:09 Konecranes adds Wire Rope Monitoring to TRUCONNECT portfolio
09:59 Crude oil prices edging down on coronavirus-related restrictions
09:53 Baltic Dry Index as of Aug 3
09:29 Inland waterways Azov-Don basin’s seven-month cargo volume edges up 1%
09:21 ICTSI Honduras, Big Creek Terminals ink mutual benefit pact
08:21 MABUX: Global bunker prices may continue slight downward trend on Aug 04

2021 August 3

18:17 Iridium Connected® Viettel S-Tracking Vessel Monitoring System wins Top 10 Sao Khuê Award
17:59 Lead passenger ship Meteor 120R of new generation launched in the Nizhny Novgorod Region
17:25 A subsidiary of KCC has signed a new Contract of Affreightment for its CLEANBU fleet with a major international charterer in the tanker market
16:47 Petersburg Oil Terminal obtains permit for construction of its new handling facility
16:24 Nigerian Chamber of Shipping becomes full ICS member
15:22 Vard delivers “Le Commandant Charcot” to Ponant
15:00 Bunker sales at Vladivostok port in 7M’2021 fell by 30% YoY
14:41 Construction of new facilities to commence at Onezhsky Shipyard in autumn 2021 года
14:23 CMA CGM announces PSS for cargo bound for East Russia
13:42 The Panama Canal resumes seasonal measures to protect migrating marine life
13:12 CMA CGM announces THC for Novorossiysk, Russia import/export
12:57 ABP’s Ports of Ipswich and Ayr enable wheat cargo to be shipped more sustainably
12:22 Wärtsilä to provide efficient service support for Brazilian river tugs despite challenging operating conditions
11:59 MOL to build series of 4 LNG-fueled car carriers
11:58 FESCO starts seasonal delivery of cargo from ports of China and the United States to Chukotka
11:36 Finnlines announces adjustment of bunker surcharge in its own container traffic
10:54 Baltiysky Zavod shipyard casts third one-piece propeller for Project MR-50 product tankers
10:30 Tallink Grupp published its statistics for July 2021
10:09 Maersk raises full-year guidance
09:57 Oil prices decrease amid coronavirus related restrictions
09:41 Baltic Dry Index as of August 2
09:23 Yaroslavsky Shipyard launches non-self-propelled dredging ship of Project RDB 66.42М
09:08 Japan’s Ministry of Internal Affairs and Communications gives the green light to Iridium services
08:58 MABUX: Global bunker prices may drop on Aug 03 following sharp decline on crude market yesterday
08:09 The largest water-rail intermodal terminal of the Yangtze River starts operations

2021 August 2

19:09 Seven dredging ships deployed for operation on Sea Canal in the Gulf of Ob
18:35 LR unveils key appointment for its Maritime Performance Services business
17:54 CMA CGM announces PSS for cargo from the Middle East Gulf to North Europe, Scandinavia, Poland, Baltic, West Med & Adriatic, East Med, Black Sea, North Africa & Morocco
17:46 LUKOIL announces new oil finding in Sayulita prospecting area of Block 10 offshore Mexico
17:30 CMA CGM has announced PSS for cargo from India to North Europe & the Mediterranean
17:28 CMA CGM announces PSS for cargo from North Europe, UK, Scandinavia, Poland & North Spain to Colombia Atlantic & Dominican Republic
17:27 Large hydrographic survey vessel of Project 23370G, Grigory Shadrin, launched in Murmansk
17:23 CMA CGM to launch a new Express Shuttle service linking East Asia to Russian Far East
17:05 Sri Lanka Ports Authority successfully reworks leaked chemical container on board
16:54 Rhenus Group plans to acquire the Polish freight forwarding and logistics company C. Hartwig
16:30 Sea Port of Saint-Petersburg enhanced its environmental safety
16:03 Maersk’s digital logistics platform Twill increases its presence in Gdansk