• Home
  • News
  • MABUX: Bunker Weekly Outlook, Week 38, 2022
  • 2022 September 22 20:03

    MABUX: Bunker Weekly Outlook, Week 38, 2022

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

    Over the Week 38, MABUX global bunker indices continued moderate sliding downward. The 380 HSFO index fell by another 15.93 USD: from 532.70USD/MT last week to 516.77 USD/MT. The VLSFO index, in turn, fell by 11.55 USD: from 794.96 USD/MT to 783.41 USD/MT. The MGO index lost 47.69 USD (from 1159.95 USD/MT to 1112.26 USD/MT), remaining below the 1200 USD mark for the third week in a row.

    The Global Scrubber Spread (SS) weekly average - the price differential between 380 HSFO and VLSFO –continued to increase over the Week 38 - plus $4.38 ($266.64 vs. $262.26 last week). In Rotterdam, the average SS Spread declined: $241.00 vs. $248.50 (down $7.50 ). In Singapore, the average weekly price differential of 380 HSFO/VLSFO added plus $17.83 ($286.83 vs. $269.00 last week). The indicators of the Global SS Spread and the values of SS Spread in the largest hubs are practically at the same level. More information is available in the Price Differences section of mabux.com.

    Gas prices are now down by nearly 50% from their peak earlier in the summer, when Russia's decision to stop all gas flows through the Nord Stream 1 pipeline due to repair works triggered fears of widespread rationing across the continent. Russian imports typically account for 40% of the European total, but they are currently running at less than 10% of imports, reflecting European success in sourcing alternative gas over recent months, largely in the form of LNG. $Price for LNG as a bunker fuel at the port of Sines (Portugal) fell on September 19 by another 430 USD/MT to 3324.00 USD/MT (versus 3754 USD/MT a week earlier). LNG prices are still nearly three times higher than the most expensive type of traditional bunker fuel: the price of MGO LS at the port of Sines was quoted on September 21 at 1114.00 USD/MT.

    Over the Week 38, the MDI index (comparison of MABUX MBP Index (market bunker prices) vs MABUX DBP Index (MABUX digital bunker benchmark)) showed an underpricing of 380 HSFO fuel grade in all four selected ports. The underestimation margins continued to grow and amounted for: Rotterdam - minus $105, Singapore - minus $152, Fujairah - minus $153 and Houston - minus $51.

    VLSFO fuel grade, according to MDI, remained, on the contrary, overpriced in all selected ports: plus $11 in Rotterdam, plus $36 in Singapore, plus $40 in Fujairah and plus $22 in Houston. In this fuel segment, the MDI index did not have any firm dynamics: the overprice premium down all ports except of Singapore.

    In the MGO LS segment, MDI registered overpricing in two ports out of four selected over the Week 38: Fujairah - plus $ 209 and Houston - plus $17. In Rotterdam and Singapore, MGO LS fuel remained undervalued: minus $ 31 and minus $ 91. MDI index increased for all selected ports except of Singapore.

    China exported 1.94 million tonnes of very-low-sulphur fuel oil (VLSFO) in August, measured mostly by sales from bonded storage for vessels plying international routes, data from the General Administration of Customs showed. Data on general merchandise exports and imports and on container traffic show international shipping activity in Chinese ports, and therefore opportunities to supply VLSFO to foreign ships, was weak in August. Fuel oil imports into bonded storage, including both high-sulphur and low-sulphur products, were down 64.18% from a year earlier at 0.67 million tonnes.

    Meanwhile, Russian President Vladimir Putin's move on Sep.21 to call up 300,000 reservists, marking an escalation of the war in the Ukraine, could further hurt supply and send bunker prices into upward trend.

    The global bunker market is still in a state of high volatility. At the same time, there are premises for turning price indexes into upward deviation in the market.

    By Anastasia Pervova, Marketing analytic, MABUX




2022 December 8

18:37 Port of Melbourne reaches next stage in remediation of Swanson Dock West
18:07 APM Terminals in Nigeria announces management changes
18:00 Contracts for construction of 5th and 6th icebreakers of Project 22220 may be signed in December 2022 – Vyacheslav Ruksha
17:44 Hyundai Heavy Industries to develop ammonia FSRU - BusinessKorea
17:39 Academy of Industry Markets welcomes to LNG Market online course
17:34 CMA CGM may double methanol-fuelled boxship order - Ship & Bunker
17:22 Stockholm Norvik Port starts new train service
17:16 Freeport of Ventspils cargo turnover in 11M'2022 increased by 32% YoY to 13.3 million tonnes
16:50 NSR fleet of icebreakers to number 17 units by 2030 and 22 units by 2035 – Vyacheslav Ruksha
16:47 Terminal operators upgrade rail-shortsea connection at Rotterdam
16:27 Plan for NSR development until 2035 foresees creation of container shipping fleet numbering 9 containerships of Russian transit operator
16:05 OOCL presents 2023 OCEAN Alliance products
15:28 Oil tankers with P&I club insurance piled up at The Bosphorus Strait
15:25 Oboronlogistics to continue acting as cargo agent for two ferries operating on Ust-Luga-Baltiysk line
14:46 Total dividends paid by CPC-R this year to exceed RUB 66 billion
14:23 TAQA, ADNOC, and Mubadala complete transaction for stake in Masdar Clean Energy Powerhouse
14:03 BCG and ABS combine expertise to support marine and offshore decarbonization
13:43 Tallink takes delivery of ferry MyStar
13:28 SCZONE signs 7 MoUs for green fuel production
13:02 Shekou Container Terminals implements Portchain Connect
12:43 Equinor wins commercial-scale offshore wind lease in California
12:31 MABUX: Bunker Weekly Outlook, Week 49, 2022
11:58 Sevmorput is about to complete its second subsidized voyage from the Far East to Saint-Petersburg with 46-pct loading
10:55 Eurochem is ready to transfer its ammonia shipment terminal from Estonia to Russia
10:09 INTERCARGO issues statement on IMO decarbonisation measures
09:42 ADNOC creates Low Carbon Solutions & International Growth vertical
09:30 New anchorage in Ust-Luga seaport is intended for ship-to-ship transshipment of fuel
09:22 AD Ports signs collaboration agreement with Africa Finance Corporation
08:27 CMA CGM to upgrade its Zanzibar Feeder service

2022 December 7

18:27 SBTi launches world-first roadmap for net-zero shipping by 2040
18:09 IPEM expects Russian Railways' network loading to fall by 4% this year
17:44 NYK conducts successful demonstration of new cargo hold monitoring system featuring IoT sensors
17:23 Sempra Infrastructure announces agreement with ENGIE for supply of U.S. LNG from Port Arthur LNG Phase 1
17:16 ASOP expects throughput of Russian seaports to grow by 3-5% in 2023
16:47 The major shipping lines post an operating profit of USD 122bn in Jan-Sept 2022 - Sea-Intelligence
16:30 Market players report idle time of ships in the Far East ports of Russia of up to three months
15:45 Oil exports from Russia in the first 11 months of 2022 increased by +11.2% to 199.4 mln tonnes
15:33 Throughput of Murmansk Sea Fish Port in November 2022 rose 1.8 times YoY
14:45 LR certifies DriX uncrewed surface vessel
14:31 Trade turnover between Russia and China in 11M’22 rose by 32% YoY to $172.41 billion
14:02 Russian coal exports up after EU loosens curbs - Bloomberg
13:34 GPA approves a plan to renovate the docks at the Port of Savannah’s Ocean Terminal
13:29 Container traffic on Russian Railways’ internal network in 11M’2022 rose by 3.4% YoY
13:04 OSR plan approved based on drill results in CPC Marine Terminal water area
12:40 Bunker sales at Vladivostok port in 11M’2022 fell by 25% YoY
12:17 Number of containers with Chinese goods delivered to Saint-Petersburg surged 12 times this year
12:13 Charleston Harbor becomes the deepest harbor on the U.S. East Coast at 52 feet
11:58 Dynamar forecasts that perishable export volumes to fall slightly in 2022
11:31 Viking Line chooses Finnish flag for Viking XPRS
11:13 Sredne-Nevsky Shipyard to launch two passenger catamarans of Project 04580, Kotlin, in spring 2023
11:08 WinGD wins engine diagnostics orders as ship owners look to reduce OPEX
10:35 EU sanctions on Russia cost Cyprus 20 pct of oil tanker fleet - Xinhua
10:15 Semakovskoye gas field enters operation on Yamal
09:24 CMA CGM to acquire flagship terminals in the Port of New York and New Jersey
09:21 Ship of Project NE-020.2 Anatoly Cherneyev registered with Korsakov (Sakhalin) as its homeport

2022 December 6

18:36 SCZONE receives an economic delegation from the European Union
18:06 Puerto Aguadulce handles largest-capacity vessel to dock in Colombia
17:57 RF Ministry of Transport addressed with a proposal to reduce fuel expenses of fishing ships operating in remote areas
17:46 Port of Belledune signs MOU with Port of Hamburg
17:26 Trafigura signs USD3 billion loan agreement guaranteed by the Federal Republic of Germany to secure gas supply