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  • MABUX: Bunker Weekly Outlook, Week 34, 2021
  • 2021 August 26 11:27

    MABUX: Bunker Weekly Outlook, Week 34, 2021

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

    On a Week 34, the MABUX World Bunker Index turned into a moderate upward evolution. The 380 HSFO index rose by 5.76 USD: from 440.36 USD/MT to 446.12 USD/MT, the VLSFO index increased by 6.07 USD: from 534.14 USD/MT to 540.21 USD / MT, while the MGO index added 3.63 USD (from 633.54 USD / MT up to 637.17 USD / MT).

    The MABUX ARA LNG Bunker Index, calculated as the average price of LNG as a marine fuel in the ARA region, fell sharply in the period of August 19-26 from 978.64 USD/MT to 934.89 USD MT (minus 43.75 USD). At the same time, the average value of the LNG Bunker Index increased by 41.82 USD compared to the week before. The average price for MGO LS in Rotterdam during the same period decreased by 15.16 USD/MT (compared to the week before), and the average price difference between bunker LNG and MGO LS in Rotterdam increased by 56.99 USD and exceeded 400 USD: 427.75 USD (versus 370.76 USD the previous week). LNG bunker price indices are available in the LNG Bunkering section at www.mabux.com.

    The average weekly Global Scrubber Spread (SS) - the difference in price between 380 HSFO and VLSFO - continued to decline to $ 92.59 (versus $ 95.79 last week). The average SS Spread in Rotterdam has not changed and is still at $ 100 mark, but since August 23, its values have slightly exceeded $ 100. In Singapore, the average SS Spread has also decreased by $ 11.50 and is close to $ 100 now. ($ 112.17 last week). SS Spread below $ 100 reduces the cost-effectiveness of scrubbers’ installation as a method to cut emission. 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 over the past week showed that 380 HSFO fuel returned into the overpricing segment in two of the four ports: in Singapore, the overcharge was registered as plus $ 15 (versus minus $ 38 a week ago) and in Fujairah - plus $ 6 (versus plus $ 11). In Rotterdam, the MABUX MB /DBP Index had a 100-percent correlation. Houston is the only port, according to the MABUX MBP/DBP Index, where 380 HSFO fuel was undervalued by minus $ 10 (versus minus $ 15).

    VLSFO fuel, according to the MABUX DBP Index, was underestimated in all selected ports, except of Singapore, where an overpricing of this fuel grade was registered as plus $ 11 (versus minus $ 37 last week). In other ports, the average underpricing ratio was: in Houston - minus $ 3 (minus $ 11), in Rotterdam - minus $ 2 (minus $ 28), in Fujairah - minus $ 29 (versus minus $ 35). The most significant change of the MABUX MBP/DBP Index was registered in Singapore: minus $ 48.

    As for MGO LS, on Week 34 the MABUX MBP/DBP Index registered an undercharge of this fuel grade at all selected ports ranging from minus $ 16 (versus minus $ 24 last week) in Houston to minus $ 25 (minus $ 61) in Rotterdam, minus $ 28 (vs. minus $ 78) in Singapore and minus $ 51 (minus $ 57) in Fujairah.

    Overall, significant reduction of underestimation margin of all fuel grades has been the result of a steady upward trend of bunker prices on a global market over the past four days.

    A major European shipping trade body is among those lobbying against the EU’s proposed Paris Agreement-aligned net-zero pathway. European Community Shipowners’ Associations (ECSA) promotes the interests of 20 shipping associations across the EU, the UK, and Norway. The group has actively lobbied to delay or weaken efforts to include their sector in EU-level regulations on climate. Shipping companies would need to start buying a meaningful level of emissions allowances for the first time under the proposed legislation.

    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