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  • MABUX: Bunker Weekly Outlook, Week 46, 2021
  • 2021 November 18 14:32

    MABUX: Bunker Weekly Outlook, Week 46, 2021

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

    On a Week 46, the MABUX World Bunker Index demonstrated a firm decline. The 380 HSFO Index dropped by 21.81 USD: from 523.74 USD / MT to 501.93 USD / MT. The VLSFO index fell by 17.24 USD: from 656.54 USD / MT to 639.30 USD / MT, while the MGO index lost 17.93 USD (from 778.54 USD / MT to 760.61 USD / MT).

    The weekly average Global Scrubber Spread (SS) - the difference in price between 380 HSFO and VLSFO - continued to rise during the week and reached $ 135.92 (versus $ 128.41 last week, plus $ 7.51). At the same time, the average SS Spread in Rotterdam remained practically unchanged, lingered at the level of $ 134 (minus $ 0.67 compared to the previous week), and the average SS Spread in Singapore, on the contrary, added $ 11.67 and reached $ 161.67 vs. $ 150.00 last week. The gradual growth of SS Spread and the steady surpassing of the psychological mark of $ 100 have increased the profitability of scrubber retrofits. According to DNV GL, the total number of vessels with scrubbers (in operation and on order) in 2021 will be 4,584, compared to 4,368 in 2020 and 3,167 in 2019. More information is available in the Differentials section of the www.mabux.com website.

    The European gas prices remain unstable. The recent upward driver came from Gazprom with no booking additional gas transit capacity via Ukraine or via the Polish section of the Yamal-Europe pipeline for December, while the company has booked short-term transit capacities and started refilling its European storage facilities last week. Anyway, extra supplies promised by Russia have so far been negligible and Norwegian flows have been reduced because of heavy maintenance. The future of Nord Stream-2 is still unclear.

    Correlation 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 undervalued in two out of four ports: Rotterdam (minus $ 17) and in Singapore (minus $ 15). In Fujairah and Houston, the MABUX MBP / DBP Index recorded an overcharge of plus $ 12 and plus $ 3, respectively.

    VLSFO fuel grade, according to the MABUX MBP / DBP Index, has been overpriced in two out of four ports: in Rotterdam by minus $ 5 and in Houston by minus $ 11. In Singapore and Fujairah, an overpricing by $ 24 was recorded for each port.

    With regard to MGO LS, the MABUX MBP / DBP Index continued to register overpricing of this fuel grade in two ports: in Fujairah - by plus $ 14 and in Houston - by plus $ 11. However, MGO LS is still undervalued in Rotterdam - minus $ 40 and in Singapore - minus $ 27.

    All in all, the MABUX MBP / DBP Index correlation shows that a firm trend for all fuel grades is still in the stage of formation.

    Over 20 countries - Australia, Belgium, Canada, Chile, Costa Rica, Denmark, Fiji, Finland, France, Germany, Ireland, Italy, Japan, Morocco, Netherlands, New Zealand, Norway, Spain, Sweden, the UK and the US - have signed the Clydebank Declaration to develop at least six green shipping corridors between two or more ports by 2025 and more by 2030. Corridors would arise from partnerships between willing ports and operators to decarbonize specific shared maritime routes, the declaration said. Voluntary participation by operators was a significant element for successful green shipping corridors. Over 200 businesses across the shipping value chain had committed to scaling and commercializing zero emission vessels and fuels by 2030 and on the demand side, Amazon, Ikea, Michelin, Unilever, Patagonia have announced they will only buy zero carbon freight from 2040. With electrification not seen as feasible, the choices for zero carbon shipping fuels are green methanol, liquid hydrogen and ammonia.

    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