• 2021 February 11 18:16

    Bunker Weekly Outlook, Week 06

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

    The firm upward trend on global bunker market continues. As a result, MABUX World Bunker Index has been rising during the week. The 380 HSFO index has risen from 376.32 USD/MT to 387.67 USD/ MT (+11.35 USD), VLSFO has added 22.10 USD: from 476.90 USD/MT to 499.00 USD/MT while MGO has gained 19.86 USD and has risen from 529.39 USD/MT up to 549.25 USD/MT. Upward trend for Global Scrubber Spread (SS) (price difference between 380 HSFOs and VLSFOs) also continued: it widened by 7.96 USD and averaged 105.80 USD (97.84 USD a week ago), exceeding the 100 USD mark for the first time since March 2020.






     

     

     

     

     

     

     

     

    SS Spread in Rotterdam has widened over the past week from 92.00 USD up to 108 USD on Feb.14. Average value of SS spread for the week has risen by 9.17 USD from 89.50 USD last week to 98.67 USD. In Singapore SS Spread is well above 100 USD at the moment and has risen during the week by 11.00 USD: from 113 USD to 124 USD. Average weekly SS Spread in Singapore has gained 7.83 USD: from 112.50 USD last week up to 120.33 USD. The widening trend in SS Spread continues.






     

     

     

     

     

     

     

     

    Correlation between MBP (Market Bunker Prices) and DBP (MABUX Digital Benchmark) in four global largest hubs during the past week showed that the market is still in a situation where 380 HSFO and MGO LS grades remain undervalued in all selected ports. According to DBP Index, the 380 HSFO was underestimated in a range from minus $ 8 (Rotterdam and Fujairah) to minus $ 10 (Singapore and Houston), MGO LS was also undercharged from minus $ 3 (Houston) to minus 30 (Singapore). DBP Index also registered VLSFO as the only fuel which remains overvalued in all selected ports: an overcharging ranged from plus $ 7 (Houston) to plus $ 16 (Singapore). In general, MBP and DBP indices have recently significantly narrowed, which indicates that the global bunker market is in a fairly balanced mode currently and follows quite accurately the moves of oil futures.






     

     

     

    The Sustainable Shipping Initiative (SSI) sets out 13 sustainability issues and principles surrounding low and zero carbon marine fuels which are under consideration as part of shipping’s energy transition. The report, “Defining sustainability criteria for zero and low carbon marine fuels”, says attention must be paid to the lifecycle sustainability of bunker fuels, and its principles are intended to feed into the development of industry standards and third-party certification schemes ‘to assure and facilitate the selection of – and demand for –sustainable marine fuels’.




2024 April 18

15:50 Kongsberg Maritime secures contract to supply propeller systems to Damen Naval for four Anti-Submarine Warfare frigates
15:24 LR to class Torghatten Nord’s hydrogen-powered ferry duo for Arctic sailings
14:04 CMA CGM sells part of the foreign activities of Bolloré Logistics to the Balguerie Group
13:40 Methanol Institute and SEA-LNG unite against EU trade barriers to biomethane and biomethanol fuels
13:23 DP World launches a new Air Tracking feature to its SeaRates platform
12:31 Port of Los Angeles container volume increases 19% to 743,417 TEU in March 2024
12:16 MABUX: Bunker Outlook, Week 16, 2024
12:11 Coastal Sustainability Alliance boosts development and adoption of maritime biofuel in Singapore
11:43 Ocean Network Express launches reduced emissions shipping service
11:23 Wartsila cargo handling and fuel gas supply systems selected for three new Very Large Ethane Gas Carriers
10:45 Singapore plans production of biofuel blends up to B50 in grade
10:25 Maritime and Port Authority of Singapore and International Energy Agency сollaborate on maritime energy transition

2024 April 17

18:03 Australia and Singapore partner in a $20 million initiative to help reduce emissions in the maritime sector
17:38 EPS strengthens green collaboration with MPA with six Singapore-registered ammonia dual-fuel newbuilds
17:03 HD Hyundai, Scottish firms to cooperate on offshore wind power
16:16 Hanwha Ocean wins 176.4 bln-won order for 1 LPG carrier
15:46 Maritime Book and Claim System advances pilot study to support first movers in zero-emissions shipping
15:00 Port of Antwerp-Bruges cargo volumes up 2.4% to 70.4 million tonnes in Q1 2023
14:47 DOF Rederi AS sells PSV Skandi Gamma
14:24 PIL, CCS partner on alternative fuels and onboard carbon capture and storage
13:44 Total volume of bunker fuel sales at the port of Fujairah increases by 25.2% to 700,918 m3 in March 2023
12:11 Eureka Shipping announces construction of new cement carrier for Great Lakes trade
11:32 MOL to adopt new system to increase capacity and improve operational efficiency of car carriers
11:12 GTT receives an order for the tank design of eight new LNG carriers
10:43 Thailand's Department of Marine and Coastal Resources takes delivery of a new research vessel
10:27 The United States exported a record volume of natural gas in 2023
09:58 TECO 2030 raises NOK 43 million and partners up with Advait in India

2024 April 16

18:04 HD KSOE attains 73% of annual order target in 100 days
17:31 Anglo-Eastern buys Euronav ship manager
17:06 Navig8 takes delivery of the second of six newbuild MRs with emission reducing technology
16:38 IMO’s Facilitation Committee tackles digitalization and autonomous shipping
16:12 World’s largest car carriers ordered with MAN Energy Solutions propulsion package
15:46 Hapag-Lloyd and Seaspan to retrofit five vessels to methanol propulsion
14:13 Asyad Shipping and OQ8 successfully complete first-of-its-kind blended crude oil delivery from Mina Al Fahal to Duqm Refinery
13:54 Hapag-Lloyd unveils its new Strategy 2030
13:14 Singapore aims for over 1 mln tons of low-carbon methanol bunker supply by 2030
12:43 Trafigura to commercially deploy Daphne Technology’s PureMetrics on LNG carrier for precise MRV and optimisation of GHG emissions
12:15 All 12 people rescued from fire on board Tanzanian-flagged cargo ship in Singapore waters
11:49 Drydocks World steel cutting ceremony marks start of UK Norfolk Vanguard Offshore Wind Platforms project
11:23 North Pacific Green Corridor Consortium aims to decarbonize transportation corridor between Canada, Japan and South Korea
10:48 Wartsila offers new high-performance thruster and propulsion control solution package
10:25 Port of Long Beach container volume up 8.3% to 654,082 TEUs in March 2024
09:58 Kalypso Offshore Energy signs LOI with Royal IHC

2024 April 15

18:04 Container shipping costs of S. Korea-EU route surge 40 pct amid Red Sea crisis
17:21 HMM to expand container ship fleet by 2030
17:09 Singapore retains its position as the world's leading maritime city
16:47 Iran says MSC Aries vessel seized for 'violating maritime laws'
16:24 ICTSI gets PPA OK to operate Iloilo Port
15:21 DEME’s offshore installation vessel ‘Orion’ successfully completes the near 15 MW turbine foundation installation project in Scotland and heads to US
14:55 Meriaura orders two biofuel powered 6750 DWT cargo vessels from Royal Bodewes shipyard
14:35 Methanol-fuelled MAN 21/31DF-M GenSet secures first propulsion order
13:32 Port of Valencia export freights grow by 2.13% in March 2024
12:48 Seatrium and Shell inks MOU to further collaborate on floating production systems
12:24 Seaspan launches second LNG bunkering vessel to deliver low-carbon energy solutions to the West Coast
11:57 Japan's 1st coastal module carrier to transport offshore wind turbine foundation components
10:36 EST-Floattech to provide the battery system for the purpose-built electric-landing utility vessel

2024 April 14

16:02 Shanghai's ship exports see considerable growth in Jan-Feb
14:13 Stena Drilling secures 1-well firm programme with Energean for Stena Forth in Morocco
12:07 GSBN: Lack of digital processes in shipping complicates decarbonization game
10:22 Panama Canal expects return to normal transit capacity by 2025

2024 April 13

15:04 Subsea7 awarded contract in the Gulf of Mexico
13:51 Shanghai Electric’s 'ZHI ZHEN 100' excels thorough offshore equipment test
11:18 WSC: Updated version released of “Prevention of Pest Contamination of Containers: Joint Industry Guidelines for the Cleaning of Containers”
09:43 Financiers and insurers ready to support electrification of the domestic harbour craft sector

2024 April 12

18:02 The first LNG bunkering operation performed at Klaipeda Port
17:32 Nexans announces keel laying ceremony for the CLV vessel
17:19 Arctia to map offshore wind farm area in Norway
17:17 SBM Offshore to construct and install FPSO Jaguar
16:46 OOIL's revenue decreases by 9% in Q1 2024
16:13 Wan Hai Lines holds ship naming ceremony for new vessels