• 2021 June 17 17:06

    MABUX: Bunker Weekly Outlook, Week 24, 2021

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

    During Week 24, MABUX World Bunker Index has turned into moderate upward evolution. The 380 HSFO index has increased by USD 5.80: from 441.70 USD/MT to 447.50 USD/MT, the VLSFO index has risen by USD 2.39: from 549.50 USD/MT to 551.89 USD / MT, while the MGO index has added 11.17 USD (from 633.81 USD / MT to 644.98 USD / MT).

    MABUX ARA LNG Bunker Index - the average price of LNG as a marine fuel in the ARA region, has decreased by 3.86 USD during the week from 634.93 USD/MT to 631.07 USD/MT. At the same time, the average value of the LNG Bunker Index has increased by 17.09 USD. The average price for MGO LS for the same period has risen by 13.66 USD/MT. The average price difference between bunker LNG and MGO LS in Rotterdam has increased slightly and is 56.73 USD (versus 48.30 USD last week). More information is 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 fallen by $ 1.19 during the week but is still above the psychological $ 100 mark: $ 104.68 (versus $ 105.87 last week). At the same time, the average value of SS Spread in Rotterdam has also decreased by $ 2.67 and reached $ 114.00 ($ 116.67 last week). In Singapore, the average SS Spread has risen symbolically by $ 0.34 to 118.17 USD ($ 117.83 last week). The SS Spread levels in both ports are still well above the $ 100 mark. More information is available in the Differentials section at 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 has shown that 380 HSFO fuel remained undervalued in all four selected ports ranging from minus $ 30 in Houston (versus minus $ 23 last week) and minus $ 20 in Fujairah (vs. minus $ 19) to minus $ 39 in Rotterdam (vs. minus $ 37) and minus $ 52 in Singapore (vs. minus $ 46). The most significant changes of underestimation ratio were recorded in Houston (up $ 7) and Singapore (up $ 6).

    VLSFO fuel, according to MABUX DBP Index, was also underestimated in all four selected ports: in Houston the underestimation was minus $ 11 (minus $ 7 last week), in Rotterdam - minus $ 26 (minus $ 21), in Fujairah - minus $ 44 (versus minus $ 41), in Singapore - minus $ 49 (versus minus $ 44). Underestimation margins for all ports increased by plus $ 3- $ 5 average.

    As for MGO LS, MABUX DBP Index has registered an undercharge of this grade at all selected ports ranging from minus $ 22 (minus $ 27 last week) in Houston to minus $ 45 (unchanged) in Rotterdam, minus $ 49 (vs. minus $ 54) in Singapore and minus $ 44 (versus minus $ 51) in Fujairah. The most significant change of underestimation ratio was recorded in Fujairah (minus $ 7).

    The Exhaust Gas Cleaning System Association (EGCSA) has published the findings an ecotoxicity study it commissioned on the environmental impact of open-loop scrubber washwater. As per EGCSA, the study, which was undertaken in accordance with the IMO GESAMP guidelines, indicated that both in a standard OECD port and in a highly trafficked seaway the operation of open loop scrubbers ‘did not create an unwarranted risk’. In November 2020, the authors of a study published by the International Council on Clean Transportation (ICCT) said the International Maritime Organization (IMO) should consider prohibiting the use of scrubbers on newbuild ships and phasing out scrubbers on existing ships.

    Source: www.mabux.com

2021 July 31

13:08 Ammpower Corp signs MOU to provide green ammonia energy solutions to Porto Central in Brazil
11:47 Tiel-Waardenburg dyke reinforcement awarded to Van Oord, Dura Vermeer and Ploegam
11:12 Holland America Line takes delivery of new cruise ship at Fincantieri's Marghera shipyard
10:56 IMI and CSM sign agreement for cooperation in various business areas

2021 July 30

18:22 MEYER WERFT gets new order for a residential yacht
18:10 NYK Line announces delivery of the new LNG carrier Diamond Gas Victoria
17:59 Nutrien and EXMAR partner in building a vessel powered by low-carbon ammonia
17:06 Port of Rotterdam with partners sign an agreement to a joint study for commercial-scale hydrogen imports
16:21 Rhenus plans to acquire the Polish freight forwarding and logistics company C. Hartwig
15:42 Free-to-download report on the status of O&G storage and transshipment industry in Russia
15:21 Half of Dutch hydrogen projects are located in Rotterdam
14:49 Sredne Nevsky Shipyard lays down passenger ship of Project A45-90.2 named Victor Astafyev
14:20 Bollinger Shipyards celebrates commissioning of fast response cutters Henry, Hazard and Hatch in Apra Harbor, Guam
13:58 Balakovsky Shipyard launches hydrographic boat of Project Е35.Г, Yury Osokin, for Northern Sea Route
13:15 Maersk pioneers first block train for Decathlon from Vietnam to France
12:53 Warships of Iran, India and Pakistan navies left Kronstadt after participating in the Main Naval Parade
12:34 12th Dredging & Land Reclamation Asia Summit to be held on September 27-30
12:15 Konecranes wins first customer for EPA-approved new diesel-to-hybrid conversion technology
11:49 Changes in Finnlines’ Management: Marco Palmu appointed as Head of Passenger Services
11:26 Handling of dry bulk cargo in Azov-Black Sea Basin expected to grow by 2035
11:20 MAN Energy Solutions and ANDRITZ Hydro agree on hydrogen cooperation
11:03 Broad scope of Wärtsilä solutions selected for OHT’s next-generation wind turbine installation vessel
10:57 Russian cargoes leave neighboring countries’ ports for domestic terminals
10:21 ONE launches Marine Safety and Quality Campaign 2021
10:15 New container terminal for 2,000 TEU put into operation in Novorossiysk
09:38 Nevsky Shipyard welcomes students for summer internship
09:20 Baltic Dry Index as of July 29
09:09 Crude oil market sees downward price correction after a two-day long growth

2021 July 29

18:26 GTT appoints its new Chief Financial Officer
18:06 PGNiG terminates Port Arthur LNG agreement
17:54 FESCO, RZD Logistics and Nurminen Logistics launch regular intermodal service from Asia-Pacific countries to Finland via CPV
17:36 PGNiG Group expands its fleet of gas tankers
17:16 The Hebridean Princess returns to ABP’s Port of Cardiff
16:58 Okskaya Shipyard to build five tugboats of Project NE025 for Marine Rescue Service
16:42 Ever Given arrives to the port of Rotterdam
16:34 PGNiG to purchase more LNG from Venture Global LNG
16:17 Kalmar to deliver 12 straddle carriers to long-term partner Medcenter Container Terminal in Italy
15:56 New BIMCO/ICS Seafarer Workforce Report warns of serious potential officer shortage
15:11 Railway traffic launched through the second Baikal tunnel
14:48 Rosmorport's Petropavlovsk Branch takes part in exercises on maritime search and rescue of people
13:59 The Maritime and Port Authority of Singapore forms Global Centre for Maritime Decarbonisation
13:15 Hydrographic Company to hold auction for construction of Arc7 hydrographic ship
12:37 Baltiysk ferry meets ISM Code requirements
12:13 Sembcorp Marine bags 24 Workplace Safety and Health Awards
11:46 Ongoing travel restrictions continue to impact Tallink Grupp financial results in Q2 2021
11:08 MARAD awards vessel acquisition management contract to Crowley
10:43 Rosmorport’s tugboats assisted sailing boat Pallada mooring in Egvekinot and Provideniya ports
10:08 Thun Tankers announces the launching of product tanker Thun Empower
10:00 British Ports Association welcomes the resumption of international cruise in England
09:35 Baltic Dry Index as of July 28
09:18 SCHOTTEL to deliver a total of ten rudder propellers and two transverse thrusters to Sanmar Shipyards
09:09 Crude oil prices rise on reduction of US reserves
08:00 Verifavia shipping highlights widespread confusion over EEXI technical parameters
07:55 Drewry launches shipmanager Steering Group to power vessel opex benchmarking

2021 July 28

18:20 NOVATEK announces consolidated IFRS results for Q2 and H1 of 2021
18:01 New BIMCO/ICS Seafarer Workforce Report warns of serious potential officer shortage
17:09 PSA & ONE team up to enhance sustainability and reduce maritime environmental footprint
16:28 ECSA and ETF welcome WHO decision to prioritise seafarers’ vaccination
16:03 Rosmorrechflot supports the International Conference “Development of Icebreaking and Support Fleet”
15:42 ERMA FIRST adds world’s smallest ballast water treatment system to product range