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  • MABUX: Bunker Weekly Outlook, Week 40, 2021
  • 2021 October 7 13:34

    MABUX: Bunker Weekly Outlook, Week 40, 2021

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

    On a Week 40, the MABUX World Bunker Index continued its firm upward trend. The 380 HSFO index rose by 27.07 USD and overcame 500 USD mark: from 494.60 USD / MT to 521.67 USD / MT. The VLSFO index increased by 22.15 USD and exceeded the 600 USD mark: from 590.05 USD / MT to 612.20 USD / MT, while the MGO index added 46.46 USD and exceeded the 700 USD mark (from 689.61 USD / MT to 736.07 USD / MT). At the moment the average 380 HSFO and MGO LS world prices have fully regained the losses that took place in April-May 2020 and exceeded the price levels registered in early January 2020.

    MABUX ARA LNG Bunker Index, calculated as the average price of LNG as a marine fuel in the ARA region, did not show any significant changes in the period from September 29 to October 06: a moderate decrease from 1046.11 USD / MT to 1039.31 USD / MT (minus 6.80 USD). The average LNG Bunker Index fell by 7.89 USD (1041.36 USD / MT versus 1049.24 USD / MT last week). The average MGO LS price in Rotterdam over the same period increased by 24.16 USD / MT, and the average price difference between bunker LNG and MGO LS in Rotterdam narrowed by 32.05 USD, breaking the 400 USD mark: (395.52 USD / MT versus 427.57 USD / MT last week). With an uncertain start of Nord Stream 2, gas prices in Europe continue to surge, also due to forecasts of cold weather in north Europe and lower production of electricity from nuclear generation in France, due to a strike. 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 - continued a slight decline during the week and amounted to $ 93.35 (versus $ 97.72 last week). Meantime, the average weekly SS Spread in Rotterdam widened slightly and remained stable above the $ 100 mark: $ 110.33 (against $ 108.33 last week, plus $ 2.00). The average SS Spread in Singapore, on the contrary, continued to decline and is well below the psychological mark of $ 100: $ 71.33 versus $ 77.67 last week (minus $ 6.34). 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 of $ 16 (vs. minus $ 14 a week earlier). In other ports, 380 HSFO was overcharged: in Rotterdam - plus $ 6, in Singapore - plus $ 39 and in Fujairah - plus $ 29.

    VLSFO fuel grade, according to the MABUX MBP / DBP Index, was in the undervaluation zone in all selected ports: in Rotterdam by minus $ 3, in Singapore by minus $ 12, in Fujairah by minus $ 14 and in Houston by minus $ 2.

    The MABUX MBP / DBP Index also recorded an undercharge of MGO LS fuel at all selected ports: minimum value in Houston (minus $ 17), maximum value in Fujairah (minus $ 54).

    Overall, 380 HSFO remains the only fuel type with overcharge status.

    Pacific island countries calling on the International Maritime Organisation (IMO) to fully decarbonise the shipping industry by 2050, and to impose a US$100 carbon levy on shipping companies by 2025. The Climate Vulnerable Forum (CVF) held its fourth regional dialogue where eleven participating governments from Asia adopted an outcomes statement that backs proposals to clean up international shipping. The CVF is a grouping of around 50 of the most climate-threatened nations in the world, from Africa and the Middle East, Latin America and the Caribbean, Asia and the Pacific. Asia’s endorsement comes at the back of eight Pacific states throwing their support to the RMI, Kiribati and the Solomon Islands IMO proposals in September.

    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