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  • MABUX: Bunker Weekly Outlook, Week 33, 2021
  • 2021 August 19 11:51

    MABUX: Bunker Weekly Outlook, Week 33, 2021

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

    On a Week 33, MABUX World Bunker Index continued its moderate decline. The 380 HSFO index decreased by USD 4.78: from 444.79 USD/MT to 440.01 USD/MT, the VLSFO index fell the most - by USD 13.02 - from 546.39 USD/MT to 533.37 USD/MT, while the MGO Index lost 2.75 USD (from 636.21 USD/MT to 633.46 USD/MT).

    MABUX ARA LNG Bunker Index, calculated as the average price of LNG as a marine fuel in the ARA region, surged in the period from 11 to 18 August: from 916.19 USD/MT to 982.31 USD/MT (plus 66.12 USD). At the same time, the average value of the ARA LNG Bunker Index increased by 11.34 USD compared to the previous week. The average price of MGO LS in Rotterdam for the same period decreased by 10.00 USD/MT. The average price difference between bunker LNG and MGO LS in Rotterdam increased by 12.85 USD and still exceeds the 300 USD mark: 370.76 USD (versus 357.91 USD last week). LNG bunker price indices are available in the MABUX LNG Bunkering section at www.mabux.com.

    The average weekly Global Scrubber Spread (SS) - the difference in price between 380 HSFO and VLSFO - during the week fell below the psychological mark of $ 100 for the first time since May 31 to $ 95.79 (versus $ 100.13 last week). At the same time, the average value of SS Spread in Rotterdam also decreased by $ 4.50 and stopped at $ 100 ($ 104.50 last week). In Singapore, the average SS Spread also fell by $ 3.16 to $ 112.17 ($ 115.33 last week). As of the end of the week, SS Spread remained above the $ 100 mark only in Singapore. More information is available in the MABUX 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 over the past week showed that 380 HSFO fuel remained undervalued in all selected ports, except Fujairah, where this fuel grade was overvalued by $ 11 average (versus minus $ 8 last week). In other ports, the average underestimation was minus $ 15 in Houston (minus $ 13 last week), minus $ 31 in Rotterdam (minus $ 30) and minus $ 38 in Singapore (vs. minus $ 35). Overall, the MABUX MBP/DBP Index for 380 HSFO fuel remains stable in all selected ports.

    VLSFO fuel grade, according to the MABUX MBP/DBP Index, was also underestimated in all four selected ports: in Houston, the average underpricing was minus $ 11 (minus $ 5 last week), in Rotterdam - minus $ 28 (minus $ 24), in Fujairah - minus $ 35 (versus minus $ 23), in Singapore - minus $ 37 (versus minus $ 32). The most significant change of the MABUX MBP/DBP Index was registered in Fujairah: plus $ 12.

    As for MGO LS, on Week 33 the MABUX MBP/DBP Index registered an undercharge of this fuel grade at all selected ports ranging from minus $ 24 (minus $ 17 last week) in Houston to minus $ 61 (unchanged) in Rotterdam, minus $ 78 (vs. $ 72) in Singapore and minus $ 57 (minus $ 55) in Fujairah. Changes of the MABUX MBP/DBP Index for MGO LS fuel were minor in all selected ports.

    The International Organization for Standardization (ISO) has published a new standard – ISO 24060 – for a ship software logging system to be used for operational technology onboard ships. The new standard follows on from BIMCO and the Comité International Radio-Maritime (CIRM) taking the concept of the onboard software log to ISO. As per BIMCO, with the new ISO standard, ‘each ship will be able to keep track of information about thousands of different software installations’. The ship software logging system requires an initial log entry for equipment and includes a repository of electronic service reports associated with log entries.

    Source: www.mabux.com

2022 January 27

18:35 ABP launches the first of its new tranche of port-manufacturing sites at Port of Hull
18:05 Indian Register of Shipping classes first 100 pax hybrid catamaran (battery powered) ferry
17:52 Onezhsky Shipyard launches lead crab catching ship built for Russian Crab Group
17:35 Kawasaki Heavy Industries announces delivery of LPG-fueled LPG carrier CRYSTAL TRINITY
17:05 NAPA and MOL roll out digital Navigational Risk Monitoring Solution on over MOL’s 700+ ships
16:45 Port of Antwerp, North Sea Port Flanders and Port of Zeebrugge launch the stimulus programme ‘Accelerating modal shift’
16:36 Construction of digital shipyard commenced at Onezhsky Shipbuilding, Ship Repair Yard
16:17 Suez Canal Economic Zone signs local and foreign contracts for Sokhna port new berths works
15:35 Construction of support fleet base in Ust-Luga approved by Glavgosexpertiza
15:32 ABS grants AIP to a coordinated design for a wind turbine installation vessel
15:14 Tarragona Port Authority has awarded Global Ports Holding a 12-year concession to manage the services for cruise passengers
15:00 Marine Rescue Service removed all oil products from Chinese ship Xing Yuan
14:53 Cooperation Agreement signed between ThPA S.A. and Suez Canal Economic Zone
14:42 DP World joins forces with Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping
14:32 A.P. Moller - Maersk shares millions of weather observations to aid climate science
14:22 IMB releases 2021 Piracy and Armed Robbery Report
14:04 FESCO launches regular container train from Vladivostok to Ulyanovsk
13:40 Swissterminal starts a new rail link between the port of Antwerp and Ottmarsheim
13:28 FESCO confirms compliance with standards for operation of vessels in US waters
13:03 Georgia Ports Authority tops 5.5M TEUs, 650K units in 2021
12:49 NYK delivers methanol-fueled chemical tanker
12:02 Throughput of Yeisk port in 2021 remained flat, year-on-year
11:30 Tallink Grupp’s vessel Baltic Queen heads to Naantali, Finland for regular dry-docking
10:56 Throughput of Temryuk port in 2021 rose by 10.3% YoY
10:37 MABUX: Bunker Weekly Outlook, Week 04, 2022
10:33 Haldor Topsoe becomes member of Hydrogen Council to promote green hydrogen solutions
09:48 Registration is underway for 5th Hydraulic Engineering and Dredging Congress
09:29 Baltic Dry Index as of January 26
09:12 Crude oil prices decrease on reduction of supply disruption risks
08:57 MABUX: Global bunker market to continue firm upward evolution on Jan 27

2022 January 26

18:06 Safe Bulkers announces agreement for the acquisition of one Capesize class dry-bulk Japanese vessel
17:54 Olga Naumova takes helm of Russian Fishery Company
17:41 Shearwater GeoServices awarded Western Australia multicomponent surveys by Santos
17:26 Heerema wins decommissioning contract for multiple Petrogas platforms
16:27 USCG to break ice along Penobscot, Connecticut, and Hudson Rivers
16:03 Deltamarin signs an engineering contract for Höegh Autoliners Aurora Class PCTCs
15:58 Avenir sells the world’s largest LNG bunker vessel
15:55 Rosmorport supports "Soul of the Caspian" expedition aimed at studying and conserving Caspian seal
15:33 Maersk Supply Service launches new venture company to deliver offshore vessel charging
14:40 Throughput of OTEKO Group terminals in Taman surged by 82%, year-on-year
14:13 Fincantieri’s U.S. shipyards join Green Marine
13:48 Yakutia LNG project may need new port facilities in Sea of Okhotsk
13:27 Konecranes provides 17 Automated Rubber-Tired Gantry Cranes in fully integrated solution for Port of Felixstowe
12:37 Freeport of Ventspils handled over 11.1 million tons of cargo in 2021
12:01 DNV selected to lead “pioneering" ammonia bunkering safety study in Singapore
11:32 Superyacht Phi delivered to ABS class
11:23 Smart Ports Russia 2022 to bring together ports and terminals in Moscow
10:58 KN transhipped the first bulk bitumen to a tanker
10:58 Port Houston annual TEUs set record with 15 percent growth
10:37 CIMAC World Congress is postponed to June 2023
10:01 Klaipeda Port handled 45.6 million tonnes of cargo in 2021
09:53 KCC signs pilot agreement for Yara Marine’s ‘FuelOpt’ energy efficiency system
09:39 Baltic Dry Index as of January 25
09:18 Crude oil prices start decreasing
08:33 MABUX: Global bunker market compensates losses from the day before

2022 January 25

18:10 Ports of Los Angeles & Long Beach postpone Container Excess Dwell Fee
17:55 Joint Russian-Chinese naval exercise Peaceful Sea-2022 took place in the Arabian Sea
17:36 Broad scope of Wärtsilä power solutions selected for gas-fuelled ferry trio
17:26 ICTSI's Cavite Gateway Terminal beefs up operations
17:04 BLRT Grupp is constructing a unique floating exhibition centre for Norway