• 2021 March 4 18:03

    Bunker Weekly Outlook, Week 09, 2021

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

    The main driver for bunker prices this week is the decision of OPEC+ alliance according further oil production cuts.

    MABUX World Bunker Index has shown firm downtrend during the week. The 380 HSFO index has declined from 418.58 USD/MT to 411.01 USD/ MT (-7.57 USD), VLSFO has lost 11.82 USD: from 527.73 USD/MT to 515.91 USD/MT. MGO LS also fell by 9.87 USD 592.37 USD/MT down to 582.50 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 105.27 USD (105.66 USD last week).

    SS Spread in Rotterdam has narrowed during the week from 108.00 USD down to 101.00 USD (-7.00 USD), the average SS spread for the week has decreased by 6.00 USD from 110.50 to 104.50 USD. In Singapore, SS Spread has declined during the week by 6.00 USD: from 129.00 USD to 123.00 USD, however, the average weekly SS index has fallen by 2.00 USD: from 126.17 USD last week to 124.17 USD. No it is visible, that SS turned 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 except of Houston where those kind of fuel are overcharged (+ 8 USD and +14 USD respectively). According to DBP Index, 380 HSFO was undercharged on average from minus 15 USD in Fujairah to minus 24 USD in Singapore. The MGO LS was also underpriced ranging from minus 13 USD in Fujairah to minus 41 USD in Singapore. VLSFO according to DBP Index, is overvalued in Rotterdam (+1 USD), Fujairah (+2 USD) and Houston (+21 USD) while it is undercharged in Singapore (-6 USD).




     

     

     

    OPEC and its allies will decide on Mar.04 whether to freeze oil output or raise it slightly from April as a recent price rally is clouded by concern over the fragility of economic recovery during the COVID-19 pandemic. It was expected the OPEC+ group of producers to ease supply cuts by about 500,000 barrels per day (bpd) from April. OPEC's de facto leader Saudi Arabia has also been expected to partially or fully end its voluntary production cut of an additional 1 million bpd. At the same time there are singes that some key members of the OPEC had suggested that output across the OPEC+ group should be kept unchanged for example, Russia has been insisting on raising output to avoid prices spiking any further and lending support to shale oil output from the United States, which is not part of OPEC+.
    Bunker Indexes were also supported U.S. official data that showed a record drop in domestic fuel inventories from the aftermath of a deep freeze that shuttered refineries in several states. U.S. gasoline inventories tumbled last week by the most since 1990 after a polar blast wiped out more than 5 million barrels a day of refining capacity in late February along the U.S. Gulf Coast. Crude stockpiles swelled with refineries still shut. Meanwhile, much of the crude production hit by the cold temperatures has been restored. Crude supplies grew by a record 21.56 million barrels, signaling weak demand from refiners at the time.

    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