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  • MABUX: Bunker Weekly Outlook, Week 44, 2021
  • 2021 November 4 13:48

    MABUX: Bunker Weekly Outlook, Week 44, 2021

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

    On a Week 44, the MABUX World Bunker Index turned into a directional decline. The 380 HSFO Index dropped by 14.08 USD: from 532.45 USD / MT to 518.37 USD / MT. The VLSFO Index lost 10.74 USD: from 656.82 USD / MT to 646.08 USD / MT, while the MGO Index decreased by 10.45 USD (down from 779.20 USD / MT to 768.75 USD / MT).

    The gas prices in Europe retreat from all times highs amid a prospect of higher LNG supplies and potential higher supplies from Russia following the Putin’s statement last week. Gas prices have lowered for the whole curve in 2022 and there is further downside potential when Nord Stream 2 starts its operation. However, the market is likely to stay volatile in medium term and the demand will be largely driven by the weather and renewables output.

    The average weekly Global Scrubber Spread (SS) - the difference in price between 380 HSFO and VLSFO - continued to rise moderately during the week, reaching $ 127.35 (versus $ 115.81 last week, plus $ 11.54). The weekly SS Spread average in Rotterdam also rose to $ 137.50 (up from $ 126.67 last week, plus $ 10.83), while the SS Spread average in Singapore added $ 23.84: $ 144.17 versus $ 120.33 last week. In general, all SS Spread indicators are currently consistently above the psychological mark of $ 100. More information is available in the Differentials section of the website 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 only one port - Fujairah (plus $ 2). In all other ports MABUX MBP / DBP Index registered underestimation: in Rotterdam - by minus $ 12, in Singapore - by minus $ 20; in Houston - by minus $ 6. It is assumed that the underpricing trend of the 380 HSFO will continue next week.

    VLSFO fuel grade, according to the MABUX MBP / DBP Index, was overpriced at two of the four selected ports. In Rotterdam, the overvaluation margin was plus $ 2 and in Fujairah - plus $ 8. In Singapore, there was registered a 100% MABUX MBP / DBP Index’s correlation and in Houston, on the contrary, this type of fuel was underestimated by minus $ 5. In general, the VLSFO indicators for all selected ports are close to 100% correlation mark.

    On a Week 44, the MABUX MBP / DBP Index continued to register an undercharge of MGO LS fuel at all selected ports with the minimum rate in Houston (minus $ 4) and with the maximum in Rotterdam (minus $ 37).

    The International Energy Agency has launched a new online resource which it says will bring together key energy and emissions indicators to provide an overview of the progress being made towards net zero emissions both globally and for individual countries. The IEA’s Energy Transitions hub includes a range of crucial metrics on emissions and clean energy from the array of global energy data that the Agency collects, processes and publishes. The data will be updated regularly and will be ‘freely available to everyone’. The new hub will also offer users a gateway to the IEA’s major energy transition tracking resources that combine data and analysis to provide insights into key global trends. This includes the Sustainable Recovery Tracker, which assesses the amount of recovery spending going towards clean energy investments, and the implications for energy emissions, transitions and employment.

    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