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  • 2021 April 8 17:07

    Bunker Weekly Outlook, Week 14, 2021

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

    MABUX World Bunker Index has shown downward changes during the week. The 380 HSFO index has decreased from 414.21 USD/MT to 409.56 USD/ MT (-4.65 USD), VLSFO has lost 3.02 USD: from 500.59 USD/MT down to 497.57 USD/MT. MGO LS decreased by 0.72 USD from 572.99 USD/MT to 572.27 USD/MT.










    The Global Scrubber Spread (SS) – the difference in price between 380 HSFO and VLSFO – continued to decline during the week and averaged 87.54 USD (89.41 USD last week).

    SS Spread in Rotterdam has increased during the week from 95.00 USD up to 102.00 USD (+7.00 USD), the average SS spread for the week has also increased by 3.00 USD from 93.67 last week to 96.67 USD. In Singapore, SS Spread has also slightly increased during the week - by 5.00 USD: from 104.00 USD to 109.00 USD, while the average weekly SS index rose by 4.00 USD: from 104.17 USD last week to 108.17 USD.










    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 remain undervalued in three selected ports in a range from minus 10USD (Houston) to minus 31USD (Singapore). This kind of fuel is overcharged in Fujairah by 5USD. VLSFO according to DBP Index, is undervalued in a range from minus 13 USD (Rotterdam) to minus 27 USD (Singapore) in all selected ports except of Houston, where it is overpriced by +24 USD. MGO LS was also overvalued in Fujairah (+14USD) and Houston (+16USD). In Rotterdam and Singapore this type of fuel remained underpriced by minus 36USD and minus 39USD respectively.



    The percentage of VLSFO samples found to be non-compliant because of their sulfur content has more than doubled in 2021, according to testing company VPS. About 3% of the samples VPS received last year were found to be non-compliant on sulfur levels, and this rate has risen to about 7% so far in 2021. The majority of the non-compliance is coming from samples from Europe and the Americas.










    Supply of bunker fuels remains tight across most East of Suez ports, with lead times for VLSFO stems in Singapore stretching up to 11 days this week. Despite the weekly stockbuild, lead times for bunker fuels remain long in Singapore. The bunker hub’s demand seems to have picked up at the beginning of this week, adding further pressure on lead times. Fujairah’s low sulphur bunker availability is similar as last week. Lead times for VLSFO and LSMGO stems are unchanged on the week at six days in Fujairah, while lead times for HSFO380 has dropped from 12 days to 8 days now.

    Bunker fuels can be procured at a shorter notice in Zhoushan and Shanghai, which currently have the shortest lead times across East of Suez ports. Lead times for VLSFO and LSMGO stems now stand at 3 days in the two Chinese ports, up from two days last week. VLSFO and LSMGO stems remain tight in South Korea’s southern ports for another week. Lead times are steady on the week in Busan, stretching up to 9 days. Japanese HSFO inventories fell to six-week lows last week, as rising exports has drawn stocks.

    Low sulphur fuels continue to be readily available in major bunker locations across Europe and Africa, while HSFO380 availability has tightened further in the Canary Islands this week. VLSFO and LSMGO stems can be procured at short notice in ARA and other Northern European ports like Skaw and Hamburg. Prompt VLSFO and LSMGO deliveries are also in good availability in the Gibraltar Strait ports, in ports further east in the Mediterranean ( Piraeus, Istanbul and Malta), and in the Russian Black Sea port of Novorossiysk. HSFO380 availability has tightened further in the Canary Islands.

    South African ports continue to have limited HSFO180 volumes to supply, while VLSFO and LSMGO can be sourced with shorter lead times.

    Source: www.mabux.com

2022 May 25

18:15 Maersk Supply Service wins long-term marine services contract in Angola
17:58 The first ship with Ukrainian ore left the port of Swinoujscie
17:34 Methanol exports from Russia expected to surge six-fold by 2030
16:58 Krasnoye Sormovo shipyard launches sixth dry cargo carrier of Project RSD59
16:43 Global insurers take $1.3B in losses from the Russia's operation in Ukraine in Q1 - S&P Global Market Intelligence
16:35 Aker Solutions to provide subsea production system for the Halten East development
16:35 Maran Gas extends Optimised Maintenance Agreement with Wärtsilä by an additional five years
16:13 Middle East container ports are the most efficient in the world
16:03 OBE Organic collaborates with Maersk on sustainable ECO Delivery
15:35 Saudi ports record 24.28% increase in cargo throughput volumes in April 2022
15:04 Equinor exits all JV in Russia
14:34 WIND lands the cable storage for TenneT’s Dutch and German offshore grid connection systems
14:06 Eastern Pacific Shipping receives first of six VLECs powered by ethane
13:54 Volvo Trucks Ghent starts production of battery packs for electric HGVs in North Sea Port
13:17 Severnaya Verf shipyard launches yet another trawler for Norebo
12:21 Ports of Stockholm welcomes a new cruise shipping company
11:59 Throughput of CPC Marine Terminal in 2021 rose by almost 3% YoY
11:31 LUKOIL completes acquisition of Russian retail and lubricants assets of Shell
11:04 Stena RoRo delivers extended E-Flexer RoPax to Stena Line
10:30 Xycle to start construction of its first plastic recycling plant in the port of Rotterdam at the end of 2022
10:02 IMO Working Group finalizes carbon intensity measures guidance
09:55 Crude oil futures rise on US reserves data
09:34 Port of Long Beach, AWS collaborate to improve cargo data
09:20 Universal Handling Company expands its social programme
09:02 MABUX: Bunker prices may demonstrate irregular changes on May 25

2022 May 24

18:12 Vladimir Putin orders RF Prime Minister to take control over construction and modernization of checkpoints
17:49 RF Ministry of Industry and Trade expects delivery of hydrogen-powered prototype ship by 2024
17:26 NYK to invest in theDOCK’s Navigator II Fund
17:10 DP World is to combine its two multimodal operators in Europe
17:06 Tuula Liukko starts as CEO of Hamina LNG
16:50 Admiralteiskie Verfi shipyard reports successful completion of North Pole platform contractor sea trials
16:31 Sanmar adds another new build azimuth tractor tug to its fleet
16:12 TotalEnergies signs an agreement for the development of the Hackberry Carbon Sequestration project at Cameron LNG
15:56 Single window for ship data exchange to become mandatory - IMO
15:07 TotalEnergies signs LNG long-term sale contract with Hanwha Corporation
14:55 Royal Caribbean enters partnership with the Maersk Mc-Kinney Moller Center for Zero Carbon Shipping
14:18 Vladimir Putin suggests changing approach to designing of new transport infrastructure facilities
14:02 Rio Tinto and BP sign one-year trial of marine biofuels
13:32 Gothenburg takes delivery of fourth electric ferry powered by an EST-Floattech battery system
13:02 China ports container volume rises 1.7% from January to April of 2022, Ningbo Containerized Freight Index increase in May 2022
12:14 MacGregor has received a significant order to supply comprehensive RoRo equipment to three hybrid powered RoPax ferries
11:53 Over 150 hydraulic engineering facilities on Russia’s IWW to undergo reconstruction by 2025
11:25 IMO Secretary-General urges support for FSO Safer plan
11:02 Russian Chamber of Shipping supports Ship Repair, Modernization and Components Conference
10:51 Keppel O&M secures another two jackup rig charter contracts worth up to S$120m
10:40 RF President orders to formalize Rosatom’s powers on administering NSR and organizing navigation within its waters
09:39 Liftings return to pre-COVID levels as Maersk catches COSCO - Alphaliner
09:39 Icebreakers of FSUE Atomflot assisted 341 ship calls in winter navigation season of 2021-22
08:48 MABUX: Bunker prices may demonstrate slight upward changes on May 24

2022 May 23

18:28 Container terminal at Gangavaram Port to be ready by 2023 - The Hindu
17:26 Krasnoye Sormovo names newly built RSD59 dry cargo carrier after Nikolai Orlov
16:47 Russian companies can replace foreign manufacturers of navigation equipment - opinion
16:00 Prices for oil products in Russia to show downward correction – expert
15:29 Maersk Supply Service vessels will continue to support The Ocean Cleanup for another year
15:03 NYK and Nippon Yuka Kogyo develop new additive
14:38 Admiralteiskie Verfi shipyard commences sea trials of Severny Polyus platform
14:13 SCZONE will sign Green hydrogen contracts in November
13:35 Natural gas imports from Russia under Gasum’s supply contract has been halted
13:16 Fleet of Rosmorport’s Astrakhan branch expanded with dredger Kronshlot
12:57 NYK, IHI Power Systems and ClassNK conclude MoU with City of Yokohama for acceptance of ammonia-fueled tugboat