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  • MABUX: Bunker Weekly Outlook, Week 42, 2021
  • 2021 October 21 14:45

    MABUX: Bunker Weekly Outlook, Week 42, 2021

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

    On a Week 42, the MABUX World Bunker Index continued its firm upward trend. The 380 HSFO index rose by 8.88 USD : from 533.54 USD / MT to 542.42 USD / MT. The VLSFO index increased by 15.50 USD: from 632.43 USD / MT to 647.93 USD / MT, while the MGO index added 16.28 USD (the rise from 758.27 USD / MT to 774.55 USD / MT).

    MABUX temporarily suspends publication of the MABUX ARA LNG Bunker Index as the LNG bunkering market has practically stalled due to falling demand caused by a sharp increase in gas prices in Europe. We believe the gas crisis is temporary and expect LNG bunkering operations to resume by the end of this year. The publication of the MABUX ARA LNG Bunker Index will resume as soon as the LNG bunker market recovers.

    The average weekly Global Scrubber Spread (SS) - the difference in price between 380 HSFO and VLSFO - increased during the week and amounted to $ 103.05 (versus $ 92.65 last week). Meantime and reached $100 mark. The average weekly SS Spread in Rotterdam also increased and now is above the $ 100 mark: $ 109.33 (against $ 98.17 last week, plus $ 11.16). The average SS Spread in Singapore, also rose but still remains a little below the psychological mark of $ 100: $ 96.00 versus $ 69.50 last week ( $ 26.50). 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 (except of Houston), where the Index recorded an underpricing of $ 9 (vs. minus $ 14 a week earlier). In other ports, 380 HSFO was overcharged: in Rotterdam - plus $ 23, in Singapore - plus $ 33 and in Fujairah - plus $ 21.

    VLSFO fuel grade, according to the MABUX MBP / DBP Index, was in the overvaluation zone in three of four selected ports: In Rotterdam by plus $10, in Singapore by plus $ 4, in Houston by plus $ 4. In Fujairah MABUX MBP Index for this fuel grade 100% correlates to DBP Index.

    The MABUX MBP / DBP Index also recorded an undercharge of MGO LS fuel in all selected ports: minimum value in Houston (minus $ 1), maximum value in Rotterdam (minus $ 34).

    Data from China’s General Administration of Customs, as reported by Reuters, shows show that China’s very low sulphur fuel oil (VLSFO) exports totalled 1.45 million tonnes in September, a 16% increase on the same period in 2020. September volumes were also up on the 1.59 million tonnes registered in August this year, while exports for the period January to September rose 39% on the year before to reach 14.66 million tonnes. The Customs data released today (20 October) also indicated that fuel oil imports under general trade were 515,165 tonnes. These volumes were supported by demand from some independent refiners for use as a feedstock to process into fuels due to stricter crude oil import quotas. Imports into bonded storage, which includes high and low sulphur fuel oil, totalled 611,495 tonnes in September.

    Source: www.mabux.com




2021 December 7

11:12 Exports of Sibanthracite Group to India in 2021 to total 3.5 million tonnes of coal and anthracite
11:00 Long Beach and Los Angeles keep ‘Container Dwell Fee’ on hold until Dec. 13
10:51 DSV launches Green Logistics to accelerate the green transition of the industry
10:47 Throughput of Taganrog port in 11M’2021 fell by 2% Y-o-Y
10:24 Average spot market price for Russian M100 product fell to RUB 25,252 pmt
10:06 Flag-raising ceremony held on Norvezhskoye More trawler, first serial factory ship of KMT01 design
09:45 MABUX: Global bunker indexes to turn to firm upward trend on Dec. 07
09:28 Baltic Dry Index as of December 3
09:13 Crude oil prices continue rising

2021 December 6

18:37 The Port of Bergen changes the name of the Hurtigruten terminal
18:22 Preliminary results of Volga Basin cargo traffic – 41.39 million tonnes
18:14 Equinor invests in battery storage company
17:55 ENGIE and Masdar form US$5 billion strategic alliance to drive UAE’s green hydrogen economy
17:38 Moody’s upgrades Global Ports’ rating to Ba1 with stable outlook
17:16 Solstad Offshore announces long-term contracts in Brazil
16:44 Port of HaminaKotka cargo turnover in 11M’2021 fell by 1.5%
16:20 TezMedz and Tabiyat.pk signs contract with Maersk for integrated cold chain solutions
16:05 “K” Line obtains VSPS regarding Australian quarantine for car carrier
15:55 LR and InterManager share new insights into the causes of lifeboat accidents
15:50 Sea Port of Saint-Petersburg upgrades its infrastructure
15:14 Diana Shipping announces the acquisition of a resale new-building Capesize dry bulk vessel
14:57 Arctia’s IB Otso sets off for the Bay of Bothnia as the season’s first icebreaker
14:35 Cargo traffic within Azov-Don Basin of Russia’s IWWs fell by 14.2% in 2021
14:03 Jan De Nul receives the transport & installation for Vesterhav Nord & Syd wind farm in Denmark
13:48 Onezhsky Shipyard lays down sixth crab catching ship for Russian Crab Group
13:16 DOTr, PPA unveil P316 million Zamboanga port expansion
12:42 Cargo transportation by Volga-Don Canal decreased by 10.6% in navigation season 2021
12:14 New technology risks must be tackled despite decade of progress in ship safety, warns DNV
11:57 Сruise ship Peotr Veliky made first technological voyage
11:38 Mohammed bin Rashid and Mohamed bin Zayed launch UAE Rail Program
11:14 IAA PortNews’ summary of previous week news
10:51 MABUX: No firm trend on Global bunker market on Dec 06
10:20 New shipyard for large-capacity facilities should be built in Russia – opinion
09:29 Crude oil market sees recovery of prices
09:12 Baltic Dry Index as of December 3

2021 December 5

15:03 GasLog Ltd. places order at DSME for four 174000m3 gas carriers
13:27 USCG holds annual SaR exercise off Maui
12:33 Port of Felixstowe tops 100 million TEU
11:51 Vuosaari fairway deepening project completed on schedule, safely and under budget
10:47 New regional technology clusters in WA and Qld driving growth in Australia’s hydrogen sector

2021 December 4

15:21 MOL and Flotation Energy to explore offshore floating wind in Japan
14:51 Sembcorp Marine's LMG Marin to design world’s first zero-emission fuel tanker
13:09 USCG, royal Turks and Caicos Islands Police Force sign MOU
12:34 The Hurtigruten terminal has been renamed Jektevik terminal
11:02 Port of Rotterdam Authority embarks on partnerships with three promising maritime companies

2021 December 3

18:26 Hydrographic Company set to establish Center of Engineering and Technical Expertise
18:07 ABP Humber complete oil spill incident management exercise
17:52 Wärtsilä OPTI-DP Engagement Tool supporting the marine industry to configure optimised propulsion arrangements for DP vessels
17:45 Ocean Network Express conducts a joint crisis management drill with Seaspan Corporation
17:40 Transport Strategy of Russia until 2030 with forecast until 2035 published on official portal
17:22 MSC adds Hamburg to its feeder service „Baltic Loop 3“
17:02 Vyborg Shipyard launches KMT01 trawler named Kara Sea
16:32 South African minister visits Port of Rotterdam to discuss hydrogen exports
16:05 PD Ports contracts Konecranes to convert four RTGs to electric
15:31 Four Jones Act CTVs built to ABS Class to support U.S. offshore wind development
15:17 ABS, NYK, MTI and WinGD team-up to verify design with modeling and simulation
14:03 Jurong Port joins the Castor Initiative
13:30 ABS awards sustainability notations to two Harvey Gulf vessels
13:04 Kapitan Dranitsyn and Admiral Makarov icebreakers reinforced icebreaker group on NSR
12:57 Royal IHC delivers key components for “R.B. Weeks” to Weeks Marine