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  • MABUX: Bunker Weekly Outlook, Week 39, 2021
  • 2021 September 30 15:02

    MABUX: Bunker Weekly Outlook, Week 39, 2021

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

    On a Week 39, the MABUX World Bunker Index showed firm upward evolution. The 380 HSFO Index rose by 20.30 USD: from 474.56 USD / MT to 494.86 USD / MT, the VLSFO Index increased by 19.32 USD: from 571.14 USD / MT to 590.46 USD / MT, while the MGO index added 16.13 USD (from 670.19 USD / MT up to 686.32 USD / MT).

    The MABUX ARA LNG Bunker Index, calculated as the average price of LNG as a marine fuel in the ARA region, did not have any significant changes in the period from 22 to 29 September and showed a moderate decline from 1051.49 USD / MT to 1046.11 USD / MT (minus 5.38 USD). At the same time, the average LNG Bunker Index decreased by 5.27 USD compared to the previous week (1049.24 USD / MT versus 1054.51 USD / MT). The average MGO LS price in Rotterdam increased by 19.67 USD / MT over the same period, and the average price difference between bunker LNG and MGO LS in Rotterdam fell by 24.94 USD, breaking the 450 USD mark and approaching 400 USD level: (427.57 USD / MT versus 452.51 USD / MT last week). The surge in natural gas prices is still due to a massive supply shortage in Europe, a situation that is quickly spilling over into other countries and other markets—including the coal and oil markets as demand for power exceeds supply. The natural gas crisis is set to intensify as winter heating season approaches, with supplies insufficient to keep up with current demand, let alone build stockpiles for what will be increased demand in the cold season. LNG bunker price indices are available in the LNG Bunkering section on www.mabux.com.

    The average weekly Global Scrubber Spread (SS) - the difference in price between 380 HSFO and VLSFO - has not changed significantly over the week: $ 97.72 (versus $ 96.79 last week). The average weekly SS Spread in Rotterdam decreased slightly but remains firmly above the $ 100 mark: $ 108.33 (versus $ 112.83 last week, minus $ 4.50). The average weekly SS Spread in Singapore also showed a moderate decline and stays below the $ 100 mark: $ 77.67 versus $ 85.33 last week (minus $ 7.66). 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 was overvalued in all selected ports, with the exception of Houston, where the Index recorded an underpricing by $ 14 ( vs. minus $ 7 a week earlier). In other ports, the 380 HSFO overcharge margins were: in Rotterdam - plus $ 4, in Singapore - plus $ 41 and in Fujairah - plus $ 39.

    VLSFO fuel grade, according to the MABUX MBP / DBP Index, was overvalued in only two ports out of four: in Singapore by plus $ 1 and in Houston by plus $ 6. In Rotterdam, the MABUX MBP / DBP Index showed VLSFO underestimation by $ 2 and in Houston - 100 -procent correlation. In general, the VLSFO market prices at all ports almost completely follow  the DBP Index.

    MGO LS remains the only fuel which was underestimated by the MABUX MBP / DBP Index at all selected ports: minimum value in Houston (minus $ 18), maximum value in Fujairah (minus $ 42).

    Developed by a multi-stakeholder taskforce brought together by the Getting to Zero Coalition, signatories of the Call to Action for Shipping Decarbonisation are pressing governments to ‘deliver the policies that will supercharge the transition and make zero emission shipping the default choice by 2030.’ The initiative highlights the work that the private sector is already engaged in to drive forward shipping’s energy transition. This includes investing in RD&D and pilot projects, ordering and building vessels operated carbon neutrally, buying zero emission shipping services, investing in the production of net-zero emission fuels, investing in port and bunkering infrastructure, and assessing and disclosing the climate alignment of shipping related activities.

    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