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  • MABUX: Bunker Weekly Outlook, Week 47, 2021
  • 2021 November 25 13:55

    MABUX: Bunker Weekly Outlook, Week 47, 2021

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

    On a Week 47, the MABUX World Bunker Index continued to drift lower. Index 380 HSFO decreased by 6.05 USD: from 501.67 USD / MT to 495.62 USD / MT. The VLSFO index lost 4.52 USD: from 638.10 USD / MT to 633.58 USD / MT, while the MGO index lost 13.58 USD (from 759.82 USD / MT to 746.24 USD / MT).

    The weekly average Global Scrubber Spread (SS) - the difference in price between 380 HSFO and VLSFO - remained virtually unchanged during the week, having declined by only $ 0.26 ($ 135.66 versus $ 135.92 last week). At the same time, the average SS Spread in Rotterdam also remained stable: $ 133.33 versus $ 134.00 (minus $ 0.67 versus last week), while the average SS Spread in Singapore decreased by $ 3.84 to $ 157.53 versus $ 161.67 last week. We believe that the suspension of upward trend in the SS Spread index is temporary at the moment. More information is available in the Differentials section of the website www.mabux.com.

    Gas prices in Europe remain volatile. On November 24, another increase in prices for LNG as bunker fuel was recorded at the port of Sines (Portugal) to 2050 USD / MT (versus 1931 USD / MT two weeks ago). The current price of LNG is 1328 USD up the price of MGO LS (722 USD / MT as of November 24).

    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 three out of four ports: Rotterdam (minus $ 15), in Singapore (minus $ 19) and Fujairah (minus $ 13). Only in Houston the MABUX MBP / DBP Index recorded an overcharge by $ 12.

    VLSFO fuel grade, according to the MABUX MBP / DBP Index, was undervalued in only one port - in Rotterdam by minus $ 5. At all other ports, the overpricing was registered as plus $ 27 in Singapore, plus $ 33 in Fujairah and plus $ 1 in Houston. The trend towards the transition of VLSFO fuel grade to the overcharge segment continues.

    As for the MGO LS, the MABUX MBP / DBP Index continued to register an overpricing only in Fujairah by plus $ 31. In all other ports, according to the MABUX MBP / DBP Index, MGO LS was underestimated: in Rotterdam - minus $ 39, in Singapore - minus $ 20 and in Houston - minus 1.

    Research made by FuelTrust has revealed that the energy density of different batches of the same bunker fuel can vary by up to 3%, offering buyers the opportunity to reap cost savings when purchasing bunkers. FuelTrust analysed 14 million barrels of very low sulphur fuel oil (VLSFO) across 28 batches and found that different batches could provide higher energy. For a fully laden Panamax container ship, for example, this could equate to a 50 metric tonne (mt) saving of fuel on a voyage from Vancouver, Canada to Portsmouth in the UK, or the equivalent of up to 469 nautical miles of additional sailing distance. FuelTrust’s research also indicates that differences in energy intensity will be matched by differences in emissions, and this could also have a financial impact in light of the proposed introduction of carbon taxes and emissions trading schemes.

    Source: www.mabux.com

2022 January 26

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
16:45 Port of Los Angeles launches first-of-its-kind cyber resilience center
16:25 IDFA, Port of Los Angeles, and CMA CGM form joint initiative to advance U.S. dairy exports
15:52 MOL announces the world's first successful sea trial of autonomous sailing on a commercial container ship voyage
15:13 Damen commissions Rolls-Royce business unit to supply automation solutions for German Navy’s F126 frigates
15:02 Valenciaport and COSCO collaborate in the automation of the delivery of container seals
14:41 Flag-raising ceremony held on Sibir, first serial nuclear-powered icebreaker of Project 22220
14:02 7.6 million tonnes of goods handled in record quantities at the Port of Kiel
13:36 Glavgosexpertiza approves installation of NSR maritime distress safety system at “Dickson” station
13:12 European shipowners support EU parliamentary proposal on commercial operators and a sector-dedicated fund
12:54 Damen signs up ERMA FIRST to supply world’s smallest Ballast Water Treatment System
12:30 TotalEnergies launches Port of Marseille Fos’ first ship-to-containership LNG bunkering operation
12:11 OOCL posts results for 2021
11:24 RF Accounts Chamber found Russian IWW potential not to be used in full
11:00 European Parliament proposed amendments to EU ETS put Green Deal goals at risk, says World Shipping Council
10:17 Saimaa Canal Commission grants permit to Transport Infrastructure Agency for construction in Saimaa Canal lease area
09:43 Baltic Dry Index as of January 24
09:28 Crude oil prices continue moderate increase
09:15 MABUX: Global bunker prices to trend lower on Jan 25

2022 January 24

18:22 Nakilat takes delivery and management of fourth LNG carrier newbuild
18:09 CMA CGM and TotalEnergies launch Port of Marseille Fos’ first ship-to-containership LNG bunkering operation
17:55 Detachment of RF Navy’s Baltic Fleet went to sea to fulfill tasks of long-distance campaign
17:32 Raiffeisenbank opens USD 20 million credit facility for Sea Port of Saint-Petersburg
17:13 GTMaritime guide sets out future of maritime communications
16:50 Glavgosexpertiza approves construction of coal terminal Port “Vera” in Primorye
16:29 Salus Technical introduces its the cloud-based software Bowtie Master
15:58 Tersan shipyard lays down trawler for Magadan based fishing company Tikhrybkom
15:11 Wärtsilä hits methanol milestone with first newbuild engine order
14:30 Sea Port of Saint-Petersburg to take delivery of over 40 units of handling equipment and one 63-tonne crane in 2022
14:01 Dogger Bank announces supplier events for O&M phase
13:44 BW Offshore signed an agreement for the sale of the FPSO BW Joko Tole
13:21 Loko-Bank shareholder increased his share in FESCO to 26.52%
13:07 Royal Dutch Shell plc changes its name to Shell plc
12:44 FESCO increases number of transit container trains from CPV almost twice in 2021
12:23 EdgeTech rolls out the 6205s2 Swath Bathymetry & Side Scan Sonar System