• 2021 January 14 16:18

    Bunker Outlook, Jan 14, 2020

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

    During the first two weeks of 2021, world bunker indices continued their moderate upward trend. Meantime, the most critical unknowns for the bunker market are still the coronavirus pandemic, the rate and effectiveness of vaccinations that have begun around the world, and how quickly this process will allow the global economy to recover.

    The World Bunker Index MABUX continued firm upward evolution over a week. The 380 HSFO index rose from 354.01 USD/MT to 366.94 USD/ MT (+12.93 USD), VLSFO gained 21.00 USD: from 439.00 USD/MT to 460.00 USD/MT while MGO added 16.66 USD and changed from 497.60 USD/MT up to 514.26 USD/MT. The Global Scrubber Spread (SS) (price difference between 380 HSFOs and VLSFOs) has also demonstrated slight widening trend: it has risen by 2.00 USD and averaged USD 88.56 (86.56 USD a week ago).



     

     

     

     

     

     

     

     

     

    SS Spread in Rotterdam has fluctuated during the week in a range of 68-79 USD (compared to USD 53 in October 2020). Average value of SS spread for the week has decreased by 1.00 USD from 76.00 USD last week to 75.00 USD. In Singapore SS Spread has risen during the week by 14 USD: from 90 USD to 104 USD (compared to 63 USD in October 2020). Average weekly SS Spread has gained 2.00 USD: from 93.00 USD last week up to 95.00 USD.



     

     

     

     

     

     

     

     

     

    Correlation of MBP Index (Market Bunker Prices) vs DBP Index (Digital Bunker Prices) in the four global largest hubs over the past week showed that 380 HSFO fuel remains undervalued slightly in Rotterdam (minus 7 USD), Singapore (minus 8 USD) and, for the first time, in Fujairah (minus 3 USD), while being still overcharged in Houston (plus 12 USD).  VLSFO fuel, according to DBP Index, was slightly overpriced in all selected ports ranging from plus 3 USD (Rotterdam) to plus 27 USD (Houston), except Singapore (minus 2 USD).  DBP Index also showed that MGO LS was undervalued in all ports ranging from minus 12 USD (Rotterdam) to minus 28 USD (Singapore), with the exception of Houston (overvalued by 13 USD).




     

     

     

    The UK government, though the UK Space Agency, is to fund a project that will use satellite analytics to track the greenhouse gas and pollution emissions of shipping fleets with a new approach to establish emission audits of shipping fleets and their individual vessels. The project builds upon previous work developing analytics solutions for ports and harbours, extending this to coastal and international waters.




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15:41 AD Ports Group announced the opening of Saadiyat Marina & Ferry Terminal and Rabdan Marina
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14:13 APM Terminals Moín handled six million TEU
13:48 ClassNK grants Innovation Endorsements for Products & Solutions to two innovative initiatives by MOL
13:37 Konecranes launches its flagship Konecranes X-series industrial crane
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12:26 Ocean Network Express announces Transpacific service
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10:42 Maersk transported more than 660,000 TEU using clean fuel in 2023
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2024 March 27

18:22 Bureau Veritas awards world’s first prototype certification for SolarDuck’s floating offshore solar solution
17:58 The recently converted Allseas's shallow water pipelay barge starts preparations for its first commercial project
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14:53 Ocean Installer secures yet another SLM contract with Equinor
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13:42 Carnival Cruise Line orders 5th Excel-class cruise ship
13:11 Maersk and MSC overcharging cargo owners for EU ETS, says T&E
12:52 The Port Authority of Valencia launches the ZAL project in the Port of Valencia
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11:42 Wan Hai Lines holds ship naming ceremony for new vessels
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10:49 Seaspan Shipyards receives long-term contracts for the pre-construction work of the the Canadian Coast Guard's first six multi-mission vessels
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2024 March 26

18:02 COSCO Shipping Lines introduces new Americas service
17:30 Davie awarded first contract for design of icebreaker fleet under Canada’s National Shipbuilding Strategy
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16:57 Terntank places an order for 1+1 additional wind/ methanol-ready hybrid tanker
16:28 BW LNG completes acquisition of two TFDE vessels from Stena Bulk
15:50 Hanwha Ocean develops VR-based special vehicle simulator
15:20 TotalEnergies and SINOPEC join forces to produce sustainable jet fuel at a SINOPEC's refinery
14:52 Wärtsilä Lifecycle Agreement to guarantee operational reliability of new wind farm installation vessel
14:23 Hudong-Zhonghua launches two LNG carriers
13:51 Cargo ship hits Baltimore’s Key Bridge
13:12 Final sanctioned tanker with Russian Sokol oil to reach China port - Reuters
12:42 Adani Ports acquires 95% of Odisha's Gopalpur Port from SP Group for $162 million
12:21 IHI and Yara Clean Ammonia agree to jointly assess clean ammonia business collaboration
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11:16 Wartsila and Royal Caribbean Group celebrate 15 years of collaboration on digital transformation
10:46 A global carbon tax on shipping is coming, says ABS Chairman and CEO
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2024 March 25

18:07 The Maritime and Port Authority of Singapore continues to investigate reports of oil spills off the port of Tuas
17:31 “K” Line, NIPPON HAKUYO and OPT Gate sign an agreement for a new fire detection system for car carriers
17:07 Greek merchant fleet recorded slight decline in January 2024
16:47 Hanwha Ocean Plans to develop green technology and naval ships
16:25 U-Ming Singapore and ITOCHU sign milestone MoU for the joint development of ammonia dual-fuel and de-carbonized vessels
15:34 Svitzer targets methanol-fuelled MAN 175DF-M engine for tug application
15:04 Wallenius Wilhelmsen signs contracts for four 9,300 CEU vessels with China Merchants Jinling Shipyard
14:40 Taiwan International Port to upgrade terminal facility at Kaohsiung
13:59 Сruise ship Carnival Freedom catches fire near Bahamas
12:59 Hanwha Ocean wins 2.4 tln-won order for 8 LNG ships
11:16 Inland Ports meet in Paris to talk about the innovation potential of inland ports
10:50 IMO agrees possible outline for maritime “net-zero framework”
10:24 Hapag-Lloyd to continue to avoid the Red Sea route
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2024 March 24

16:18 Inchgreen Marine Park upgraded as part of £11m investment
15:14 A ribbon-cutting ceremony for Solent Rail Terminal Rail was held at the Port of Southampton
14:08 ESNA and Strategic Marine join forces to offer Surface Effect Ship (“SES”) Crew Transfer Vessels (“CTV”) to the market
13:07 First LNG powered vessel calls at HIP
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09:25 Edda Wind announces the sale of Edda Passat