• 2021 February 25 20:19

    Bunker Weekly Outlook, Week 08, 2021

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

    Oil prices spiked to 13-month highs after the Texas Freeze, which knocked out as much as 4 million bpd of U.S. oil production and 6 million bpd of refining capacity. The production outages have created a tighter supply situation that has been absent for most of the pandemic.

    MABUX World Bunker Index has shown firm uptrend during the week. The 380 HSFO index has risen from 406.63 USD/MT to 416.90 USD/ MT (+10.27 USD), VLSFO has added 15.97 USD: from 509.70 USD/MT to 525.67 USD/MT while MGO has gained 24.94 USD and has risen from 566.52 USD/MT up to 591.46 USD/MT. The Global Scrubber Spread (SS) – the difference in price between 380 HSFO and VLSFO – has not had any drastic changes during the week and averaged 105.66 USD (105.87 USD last week).





     

     

     

     

     

     

     

     

     

    SS Spread in Rotterdam has narrowed during the week from 111.00 USD up to 108.00 USD (-3.00 USD), but the average SS spread for the week has increased by 1.67 USD from 108.83 to 110.50 USD. In Singapore, SS Spread has risen during the week by 7.00 USD: from 122.00 USD to 129.00 USD, however, the average weekly SS index has fallen unexpectedly by 17.00 USD: from 143.17 USD last week to 126.17 USD.  All in all, SS upward trend has been slowing down and could turn into downward correction in the short term.



     

     

     

     

     

     

     

     

     

     

    Correlation of MBP Index (Market Bunker Prices) vs DBP Index (MABUX Digital Benchmark) in the four global largest hubs during the past week showed that 380 HSFO and MGO LS fuels remain undervalued in all selected ports. According to DBP Index, 380 HSFO was undercharged on average from minus 5 USD in Houston to minus 23 USD in Rotterdam. The MGO LS was also underpriced ranging from minus 20 USD in Fujairah to minus 37 USD in Singapore. In Houston there was a 100% correlation between the MBP vs DBP indices for MGO LS grade. The only fuel, according to DBP Index, remain overvalued in all selected ports is VLSFO. The overcharge ranged from plus 2 USD in Singapore to plus 17 USD in Houston.





     

     

     

    The Coalition for Energy of the Future has unveiled its first seven projects aimed at accelerating the development of more environmentally friendly future energies and technologies for the transport and logistics sectors. The coalition comprises 14 companies from a range of industries. The seven concrete actions include a biofuel project which aims to test the first bio-crude oil dedicated to maritime and develop the use of third generation biofuels. The coalition will also seek to draw a pathway for bioLNG toward carbon neutrality, highlighting key issues to be addressed. Other projects will look at green hydrogen for trucks, green electricity, a digital ‘ecocalculator’ of the global supply chain and intermodal green hubs.

    Source: www.mabux.com




2021 April 11

15:32 Hagland orders environmental friendly newbuilds
14:17 Stena Bulk unveils decarbonisation plant to become net zero emissions business by 2050
13:48 Belships fleet expansion and share issue
12:17 USCG Cutter Kimball returns home from expeditionary patrol in the Pacific
11:38 Meyer Weft's new logistics center starts operation
10:56 Norwegian Coastal Administration: Eemslift Hendrika has been towed to safe harbour

2021 April 10

15:14 NAPA joins Finnish Clean Propulsion Technologies consortium to accelerate development of low-carbon solutions in shipping
14:27 The Valencia Containerised Freight Index (VCFI) increased by 17.48% in March
13:52 A.P. Moller-Maersk helps Amica taking to the rails
12:46 TORM announces capital increase in connection with delivery of vessel
11:03 Jan De Nul halfway through installation of 600MW Kriegers Flak Wind Farm
10:09 Strong 2020 cargo volumes show resiliency of the Port of Vancouver and port industries during a challenging year

2021 April 9

18:08 Everfuel signs MOU for hydrogen supply to new zero-emission ship concept
17:45 SASCO’s new ship SASCO ALDAN leaves for first voyage
17:16 CMA CGM announces PSS for reefer cargo from Ukraine, Romania, Russia (Black Sea), Georgia & Bulgaria to Asia, the Middle East Gulf & Red Sea
16:54 DCT Gdańsk achieves 15 million TEU milestone
16:37 30 countries join global initiative to tackle marine litter
16:26 Container terminal in Świnoujście to let using inland navigation as a method of hinterland transport
15:48 Port of Long Beach container volumes up by 62.3% to 840,387 TEU in March 2020
15:10 Aleksey Klyavin believes Russia’s current IWW fleet can transport twice as much cargo if infrastructure problems are solved
14:02 SEA-LNG welcomes Puget LNG to coalition
13:49 Port of Liepaja throughput in 3M’2021 declined by 1.3% Y-o-Y
13:14 New ICS Guidance on Maritime Security launched
12:51 Finnish Transport and Communications Agency published Year 2020 at Traficom review
12:14 The US has introduced new safety requirements in the maritime transportation system
11:22 Newly established Northern Dvina River Shipping Company commences operation in Arkhangelsk Region
11:14 GTT receives an order from Hyundai Heavy Industries for the tank design of two new Very Large Ethane Carriers
10:58 Stena Livia joins the Baltic Sea fleet
10:29 Aker Arctic completes full scale ice trials of icebreaking bow Saimaa and tug Calypso
09:55 RF Navy's frigate Admiral Kasatonov passed the Pas-de-Calais
09:33 Oil market sees mixed price movements
09:19 Baltic Dry Index as of April 8
08:20 CMA CGM launches the first low-carbon shipping offer by choosing biomethane

2021 April 8

18:41 The first ship affected by the blockage in the Suez Canal to arrive in Barcelona is operating normally
18:14 Port of Rotterdam reduced its total carbon emissions by 27% in 2016-2020
17:52 New Smiltynė Ferry Terminal ferry is about to be completed
17:25 Sea Port of Saint-Petersburg conducted transshipment of deep-submergence rescue vehicle
17:07 Bunker Weekly Outlook, Week 14, 2021
16:24 Throughput of Murmansk Sea Fishing Port in 3M’2021 climbed by 1% YoY
15:59 BIMCO supports global seabed mapping initiative
15:36 SAFEVUE.ai selected by Eaglestar as maritime shifts towards safety solutions centred around human factors
15:00 Damen delivers new LUV 1908 aquaculture support vessel to Organic Sea Harvest
14:48 KN announces market consultation on acquisition of FSRU
14:22 Port of Singapore to revise its port dues rates
13:21 Port of Ipswich expertly handles large rice vessel operation
13:03 Oboronlogistics meets requirements of ISM Code
12:21 MAN Energy Solutions starts ‘AmmoniaMot’ project
12:06 Revision in Port Dues Rates in the Port of Singapore
12:01 Wärtsilä collaborates with Finnish Border Guard in testing of Bio LNG fuel for reducing greenhouse gas emissions
11:24 Waterways of Saint-Petersburg to open for small-size ships on April 15
11:03 Port of Melbourne welcomes longest vessel to dock in Melbourne
10:35 Rosmorport set to complete dredging of KSK grain terminal’s operating water area this year
10:13 Rosmorport commences dredging on Volga-Caspian Sea Shipping Channel
10:07 Nor-Shipping gathers hydrogen leaders to map out fuel of the future at Ocean Now
09:51 Throughput of Yeisk port in 3M’21 rose by 22% YoY
09:28 Oil prices start decreasing
09:10 Baltic Dry Index as of April 7
08:09 DP World to invest £40M in the development of the Southampton terminal

2021 April 7

18:47 MISC takes delivery of its sixth very large ethane carrier
18:26 HMM Nuri fully laden on maiden voyage