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  • MABUX: Bunker Weekly Outlook, Week 38, 2021
  • 2021 September 23 13:15

    MABUX: Bunker Weekly Outlook, Week 38, 2021

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

    On a Week 38, the MABUX World Bunker Index continued moderate growth. The 380 HSFO Index rose by 2.72 USD: from 468.76 USD / MT to 471.48 USD / MT, the VLSFO Index increased by 2.47 USD: from 566.38 USD / MT to 568.85 USD / MT, while the MGO Index added 8.46 USD (from 659.15 USD / MT up to 667.61 USD / MT).

    The MABUX ARA LNG Bunker Index, calculated as the average price of LNG as a marine fuel in the ARA region, continued its moderate decline over the Week 38 from 1058.30 USD / MT to 1051.49 USD / MT (minus 6.81 USD). At the same time, LNG Bunker Index decreased by 4.93 USD compared to the previous week (1054.51 USD / MT versus 1059.43 USD / MT). The average MGO LS price in Rotterdam increased by 14.67 USD / MT over the same period, and the average price difference between bunker LNG and MGO LS in Rotterdam decreased by 19.60 USD, approaching 450 USD point: (452.51 USD / MT versus 472.10 USD / MT last week). Prices for LNG as a bunker fuel in the ARA region continue to rise supported by possible Nord Stream 2 delay and limited pipeline gas supplies from Russia, as Gazprom has not booked additional supply capacity through Ukraine in October. The prices could be seen even higher to compete with Asian gas prices in order to attract LNG cargoes to Europe. LNG bunker price indices are available in the LNG Bunkering section on www.mabux.com.

    The average weekly Global Scrubber Spread (SS) - the price difference between 380 HSFO and VLSFO - rose slightly during the week to $ 96.79 (versus $ 95.00 last week). At the same time, the average value of SS Spread in Rotterdam keeps stable position over the $ 100 mark: $ 112.83 versus. $ 109.83 last week (plus $ 3.00). The average weekly SS Spread in Singapore has also not changed significantly and stays below the $ 100 mark: $ 85.33 versus $ 83.67 last week (plus $ 1.66). 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 grade was overvalued in all selected ports, except Houston, where the Index recorded an underpricing by $ 7 (versus plus $ 7 a week earlier). In other ports, the 380 HSFO remained overcharged by $ 3 in Rotterdam, by $ 40 in Singapore and by $ 46 in Fujairah.

    VLSFO fuel grade, according to the MABUX MBP / DBP Index, was also overpriced at all ports with minimum margins in Houston (plus $ 1) and Rotterdam (plus $ 7). In Singapore and Fujairah, VLSFO overcharge levels reached plus $ 10 and plus $ 9, respectively.

    MGO LS remains the only fuel which was underestimated by the MABUX MBP / DBP Index at all selected ports: the minimum margin in Houston (minus $ 7), the maximum – in Singapore (minus $ 36).

    According a new ABS study,a new-build, dual-fuel gas carrier vessel generates lower CO2 emissions over the course of its operational life than an existing gas carrier converted to dual-fuel operations. ABS compared potential greenhouse gas (GHG) emissions between a new-build, dual-fuel very large gas carrier (VLGC) and conversion of two AGH VLGCs over 20- and 25-year life cycles, including decommissioning. The findings suggest conversion increases emission intensity by between 13.7% and 32.6% over new construction.

    Source: www.mabux.com




2021 October 22

16:27 Cargo traffic within Azov-Don Basin of Russia’s IWWs fell by 12% in 10M’21
16:04 COSCO SHIPPING Ports and Silk Road Fund agree to establish cooperative strategic relationship
15:12 Port of Salalah partners with Maersk to launch a new end-to-end logistics service to Yemen through the Al-Mazyunah free zone
14:58 Marine Recruiting Agency trained 38% more people in 9M'2021
14:22 North Sea Port makes up for pandemic losses step by step in the first nine months of 2021
13:22 Bollinger Shipyards delivers 46th fast response cutter ahead of schedule despite direct hit from hurricane Ida
12:32 Port of Los Angeles reduces net air pollution during pandemic year
12:28 Navigation season officially closed in Lena Basin of RF IWW
12:01 GTT is selected by Samsung Heavy Industries to design the fuel tanks for six new LNG-fueled mid-size container vessels
11:49 Austal Australia delivers 13th Guardian-class Patrol Boat
11:22 Hyundai Heavy Industries awards no objection letter to Gazpromneft Ocean oils
10:21 Singapore crowned as the “Best Global Seaport” for the first time and won "Best Seaport in Asia" for the 33rd time
10:11 Delegation of MOL shipbuilding company visits Rosmorport’s Murmansk Branch
09:49 MABUX: Bunker prices may demonstrate downward changes on Oct 22
09:27 Crude oil prices decrease following the growth
09:10 Baltic Dry Index as of October 21

2021 October 21

18:26 Mermaid contract awards in Thailand, Angola and Saudi Arabia total 120 million USD
18:02 Non-self-propelled dredgers of Project 4395 laid down in Gorodets for Russian IWW Basin Administrations
17:46 Magseis Fairfield enters strategic collaboration with PGS for the hybrid towed streamer and OBN market
17:31 HELCOM adopts the updated Baltic Sea Action Plan, charting a way forward for a healthy Baltic Sea
17:16 DP World launches CARGOES Logistics
16:30 Proman and Stena jointly develop methanol as the pathway to sustainable shipping
16:14 APM Terminals and ZPMC enter into strategic alliance
15:33 MPC Container Ships ASA secures new financing facility, agrees on sale of six vessels and provides update on charter fixtures
15:32 Okskaya Shipyard lays down lead ship of Project RSD71 for Volga Shipping Company
15:03 NYK and Japan Marine Science to introduce and promote new mooring system to Japan ports together with Trelleborg Marine Systems
14:45 MABUX: Bunker Weekly Outlook, Week 42, 2021
14:03 NYK delivers new LNG carrier LNG Endeavour to TotalEnergies
13:49 Global Ports Investments published its Q3 and 9m 2021 operational results
13:28 Seaspan Ferries to reduce greenhouse gas emissions through using carbon-neutral Renewable Natural Gas in LNG-powered vessels
13:18 Consolidated cargo turnover of NCSP Group for 8M 2021, year-over-year
12:34 Dmitry Pankov appointed as new CEO of Management Company Delo
12:11 Port of Los Angeles cargo volume exceeds 903,000 TEUs in September 2021
11:53 Hydrographic Company installs first buoys with AIS receivers on the Northern Sea Route
11:32 Challenges and optimism: Mixed views from ports industry on business outlook
11:09 DP World is officially named Port Operator of the Year at 2021 Multimodal Award
10:39 Yara Marine’s FuelOpt offers IMO EEXI compliant Shaft Power Limitation solution
10:08 The Ocean Cleanup starts removal of plastic from Great Pacific Garbage Patch with System 002
09:52 MABUX: Bunker prices may demonstrate slight upward changes on Oct 21
09:50 Contract signed for Phase 2 of the Bagayevsky hydrosystem construction project
09:35 Crude oil market sees downward price correction
09:18 LR Digital Twin approval for Samsung Heavy Industries
09:09 Baltic Dry Index as of October 20
08:01 Aker Solutions wins FEED for Wisting FPSO

2021 October 20

18:51 Intellian and Inmarsat launch industry’s newest FleetBroadband terminals
18:31 Oceangate’s 2021 titanic survey expedition connected by Inmarsat satellite communications
18:11 P&O Ferries launches comprehensive Customs Clearance Service
17:46 Kongsberg launches new Kognifai Marketplace
17:06 Rolls-Royce plans to partner the Indian Navy for its ‘Fleet of the Future’
16:35 MAN Energy Solutions signs MoU with Mitsui E&S and Mitsui O.S.K.
16:23 “K” LINE successfully separates and captures CO2 from exhaust gas in world’s first CO2 capture plant on vessel
16:02 Seanergy Maritime announces acquisition of its 17th Capesize vessel
15:44 Rates for container transportation expected to decrease in 2022
15:25 ENI and Fincantieri sign an agreement for initiatives to support the energy transition
15:02 Wärtsilä and Solvang to collaborate on retrofitting carbon capture and storage system on Clipper Eos
14:20 Port of Rotterdam appoints Allard Castelein for a third term
13:52 Kawasaki Heavy Industries announces delivery of bulk carrier BBG GUILIN
13:20 Port of Oakland sees no backlog on docks, calls for cargo
12:52 Japanese company Kubota chooses port of Rotterdam for Northern European distribution
12:39 Crowley participates in Saildrone Inc’s $100M Series C round to advance ocean intelligence products