• 2021 May 20 15:18

    Bunker Weekly Outlook, Week 20, 2021

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

    During Week 20, MABUX World Bunker Index has turned into firm downward movement.  380 HSFO index decreased by 16.48 USD: from 431.90 USD/MT to 415.42 USD/MT, VLSFO Index declined by 14.56 USD: from 529.61 USD/MT to 515.05 USD/MT, while MGO Index lost 6.30 USD (from 616.29 USD/MT to 609.99 USD/MT).

    The MABUX ARA LNG Bunker Index, calculated as the average price of LNG as a marine fuel in the ARA region, has increased during the last 3 weeks from 516.80 USD/MT to 607.67 USD/MT (+90.87 USD). During the same period, MGO LS prices have added only 18 USD/MT. Since May 6, the price of LNG as a marine fuel in Rotterdam has consistently exceeded the price of MGO LS by average 45 USD. LNG bunker price indices, TTF, NBP and Henry Hub gas futures, LNG bunker market news and more are available in the new LNG Bunkering section at www.mabux.com.

    The average Global Scrubber Spread (SS) - the difference in price between 380 HSFO and VLSFO - increased to 99.99 USD (versus 97.95 USD last week, plus 2.04 USD), i.e., almost has reached the psychological level of 100 USD. SS Spread in Rotterdam declined slightly during the week (minus 1.00 USD), but its average increased by 3.33 USD to 108.33 USD (105.00 USD last week). In Singapore, the SS Spread rose by 3.00 USD, but its average value remained practically unchanged: 112.50 USD (plus 0.67 USD). SS Spread in both ports stays well above 100 USD. More information is available in a new section under the Differentials section of www.mabux.com.

    Correlation of MABUX MBP Index (Market Bunker Prices) vs MABUX DBP Index (MABUX Digital Benchmark) in the four global largest hubs showed this week that 380 HSFO fuel remained undercharged in all four selected ports ranging from minus 5 USD in Houston (versus minus 3 USD last week) and minus 24 USD in Fujairah (versus minus 14 USD) to minus 37 USD in Rotterdam (versus minus 30 USD) and minus 48 USD in Singapore (versus minus 40 USD). The size of underpricing in all four selected ports increased slightly.

    The underpricing margins of VLSFO, according to the MABUX DBP Index, also slightly increased: in Rotterdam, the registered undercharge was minus 21 USD (vs minus 18 USD last week), in Fujairah - minus 44 USD (vs minus 37 USD), in Singapore - minus 45 USD (vs minus 36 USD). In Houston, on the contrary, the margin of VLSFO overcharge rose to plus 10 USD (versus plus 6 USD last week).

    MABUX DBP Index also recorded an undercharge of MGO LS fuel at all selected ports ranging from minus 24 USD in Houston (versus minus 25 USD last week) to minus 43 USD in Rotterdam (vs minus 40 USD), minus 50 USD in Singapore (unchanged) and minus 58 USD in Fujairah (vs minus 52 USD). In general, there are no major changes on the global bunker market so far.

    A new report from the International Energy Agency (IEA) says there is a ‘viable pathway’ to achieving a global energy sector with net-zero emissions by 2050 but it is a narrow one, requiring ‘an unprecedented transformation of how energy is produced, transported and used globally’. As per Report, climate pledges made by governments to date, even if fully achieved, would fall ‘well short’ of what is needed to cut CO2 emissions to net zero by 2050 and offer ‘an even chance’ of keeping the global temperature increase to 1.5 °C. It also paints an energy landscape that will look very different by 2050. Global energy demand will be around 8% smaller than today, but it will serve an economy more than twice as large and a population with 2 billion more people.

    The report also envisages ammonia, hydrogen and bioenergy demand rising from 0% of the marine energy market in 2020 to 8%, 2% and 7% respectively by 2030, and 46%, 17% and 21% respectively by 2050. Fossil oil takes up just over 15% of marine demand by 2050 in the lEA's scenario, while fossil gas's share is consistently less than 5% over the next three decades and negligible by 2050.

    Source: www.mabux.com

2021 September 23

11:00 13th Annual Capital Link Shipping & Marine Services Forum took place with great success on September 13, 2021
11:00 Rolls-Royce and Sea Machines sign partnership to cooperate on smart ship and autonomous ship control solutions
10:34 APM Terminals partners with Siemens for energy optimisation and emission reduction at terminals
09:58 Torqeedo and Fassmer Shipyard announce the CIT-E Ferry - a passenger ferry for public transport
09:46 MABUX: Global Bunker Market may demonstrate firm upward evolution on Sept 23
09:29 Crude oil prices continue increasing
09:14 Baltic Dry Index as of September 22

2021 September 22

18:05 ClassNK joins as signatory to Call to Action for Shipping Decarbonization
17:47 Localization level of LK-60 icebreakers estimated at 92% in finance terms
17:20 Torvald Klaveness joins over 150 industry leaders and organizations in call for decisive government action to enable full decarbonization of international shipping by 2050
16:55 SC Zvezda counts on signing contracts for 10 tankers under Vostok Oil project in October 2021
16:31 Transition to unmanned navigation and navigation with reduced crews will be possible in Russia in three years
16:30 LR, HHI and KSOE sign MoU to develop digital twin technology for an LNG carrier
16:10 APM Terminals Pipavav marks 1,000 days of safe operations
15:39 Wärtsilä and SHI agree to collaborate on ammonia fuelled engines for future newbuilds
15:14 NAVTEK proves first zero-emissions tugboat performance
14:43 Additional EUR 90 million to be invested in Saimaa Canal infrastructure development
14:14 Valmet AB orders Agilon automated warehouse solution and overhead cranes from Konecranes
13:57 Northern Sea Route will be covered with satellite communication services – expert
13:16 ABB’s Eero Lehtovaara appointed Chair of EU association Waterborne Technology Platform
13:13 LNG bunker terminal construction begins in Bilbao
12:04 Big Data Exchange, National University of Singapore and Sembcorp Marine to explore development of sustainable ocean Data centres
11:31 Russia’s Inland Water Transport Development Concept aimed at raising IWW cargo traffic by 65%
11:08 Pier T Terminal in the Port of Long Beach begins pilot program for 24-hour cargo pickup
10:40 Vadim Shpityak appointed as General Manager of Moby Dik and Yanino Logistic Park
10:15 Tollerort to become preferred hub for COSCO services
09:57 More than 300 ships to be built by 2032 under subsidized leasing programmes
09:40 Crude oil prices increase on reduction of reserves
09:39 MABUX: No firm price trend on global bunker market on Sep 22
09:22 Baltic Dry Index as of September 21
09:13 Havyard Leirvik hands over the third and last of the ‘triplet ships’ for ESVAGT
08:35 KiwiRail gets world-first green loan certification for new ferries

2021 September 21

19:01 Grimaldi to launch the Civitavecchia-Arbatax-Cagliari service
18:05 RTCOMM and Konnect Russia agree to join hands in development of satellite communication services for sea and river ships
18:02 “K” LINE to procure 8 next-generation of environmentally friendly car carriers
18:01 Diana Shipping announces time charter contract for m/v Maera with ASL
17:54 ABS publishes guide to ammonia-fueled vessels
17:47 RTCOMM and Iridium join hands to develop mobile communication services to improve clients security in Russia’s hard-to-reach areas
17:37 AD Ports Group and the General Company for Ports of Iraq sign MoU to promote cooperation and investments
16:58 RTCOMM and KNS partner to expand ocean satellite communications services
15:36 Hydrographic survey vessel Gorizont returns from the Arctic expedition
15:11 MOL Group Adopts Car Carrier Operation Digital Transformation Promotion Project 'Mathematical Optimization': Part II
14:59 Wärtsilä signs five-year Optimised Maintenance agreement featuring latest digital innovations with STQ of Canada
14:07 New ESPO Green Guide 2021 outlines a vision for ports towards a green future
12:34 International Maritime Exhibition and Conference NEVA 2021 opens in St. Petersburg
12:12 AtoB@C Shipping orders six highly efficient 5,350 dwt hybrid vessels
11:52 Damen Shipyards Group set to develop its localization in Russia
11:31 Port Houston sets new record for containers in August 2021
11:05 ASD Tug 3010 Ice Arc4 series to be laid down for Atomflot in September 2021
10:58 Stena Line and Frederikshavn sign agreement for two fossil fuel free ferries by 2030
09:51 Average spot market price for Russian M100 product rose to RUB 25,185 pmt as of September 17
09:37 MABUX: Global bunker market turned into downward trend on Sep 21
09:33 Crude oil prices increase in expectation of Covid related restrictions to be eased
09:19 Baltic Dry Index as of September 20

2021 September 20

18:27 Strategic Marine announces new 42m Gen 4 Fast Crew Boat
18:07 FSG to build RoRo vessel with LNG propulsion for Australian company SeaRoad
17:45 Sovcomflot Board reviews Group’s results for H1 2021
17:26 Shell to build one of Europe’s biggest biofuels facilities at the Shell Energy and Chemicals Park Rotterdam
17:16 Maiden call of EMA service at Vado Ligure connecting Eastern Med with US East coast
17:00 Rosmorrechflot estimates Russia’s demand for technical ships in 2025-2030 at over 800 units