• 2021 June 3 16:09

    MABUX: Bunker Weekly Outlook, Week 22, 2021

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

    During Week 22, MABUX World Bunker Index continued its upward trend. 380 HSFO index increased by 17.22 USD: from 423.98 USD/MT to 441.20 USD/MT, VLSFO index rose by 22.80 USD: from 522.63 USD/MT to 545.43 USD/MT, while MGO index added 14.96 USD (from 617.27 USD/MT to 632.23 USD/MT).

    MABUX ARA LNG Bunker Index - the average price of LNG as a marine fuel in the ARA region, has fallen by 2.11 USD during the week from 600.69 USD/MT to 598.58 USD/MT. At the same time, the average value of the LNG Bunker Index also decreased by 4.94 USD. MGO LS prices have risen by 26 USD/MT during the same period. The price difference LNG Bunker Index vs. MGO LS in Rotterdam has narrowed significantly and is 33.58 USD now (versus 61.69 USD last week). 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 weekly Global Scrubber Spread (SS) - the difference in price between 380 HSFO and VLSFO - rose by $ 3.80 and surpassed the psychological mark of $ 100: $ 102.25 (versus $ 98.45 last week). At the same time, the average SS Spread in Rotterdam also increased by $ 1.66 and reached $ 109.83 ($ 108.17 last week). In Singapore, the average SS Spread also increased by $ 4.00 to 113.50 USD ($ 109.50 last week). Thus, the ongoing uptrend on the global bunker market is firmly keeping the average SS Spread above the $ 100 mark. More information is available in the Differentials section at 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 undervalued in all four selected ports ranging from minus $ 15 in Houston (versus minus $ 7 last week) and minus $ 18 in Fujairah (vs. minus $ 21) to minus $ 34 in Rotterdam (vs. minus $ 42) and minus $ 52 in Singapore (vs. minus $ 53). The most significant changes in underestimation ration were recorded in Houston (up $ 8) and Rotterdam (down $ 8).

    VLSFO fuel, according to MABUX DBP Index, was also underepriced in all four selected ports: in Houston the underestimation was minus $ 3 (plus $ 7 last week), in Rotterdam - minus $ 21 (versus minus $ 26), in Fujairah - minus $ 40 (versus minus $ 38), in Singapore - minus $ 47 (versus minus $ 50). In Houston, according to MABUX DBP Index, prices have returned to the underestimation segment again.

    As for MGO LS, MABUX DBP Index has registered an undercharge of this grade at all selected ports ranging from minus $ 27 (versus minus $ 23 last week) in Houston to minus $ 45 (versus minus $ 50) in Rotterdam, minus $ 49 (versus minus $ 48) in Singapore and minus $ 53 USD (versus minus $ 54) in Fujairah. There were no significant changes of underestimation margins.

    Meeting of the Intersessional Working Group on Greenhouse Gases (ISWG-GHG) failed to achieve agreement on the details of a draft efficiency regulation proposal for existing vessels, with resistance coming from a bloc of developed and developing nations which is pressing for more ambitious GHG emission reduction targets. The draft proposal has its critics who suggest that its adoption could see shipping’s emissions of 1 billion tonnes a year of CO2 rise by as much as 16% by 2030. The proposal was rejected by 27 states, including the United States, Pacific island nations, and European countries, who were pushing for tougher targets that would set shipping on a course that is closer to the 1.5 degree C goal of the Paris Agreement.

    Source: www.mabux.com


2024 May 24

18:00 MSC resumes Far East – Baltimore service
17:22 First LNG tugboat with hybrid system goes into operation in Singapore with mtu gas engines from Rolls-Royce
16:47 S. Korea slaps sanctions on 7 N. Koreans, 2 Russian ships for illegal trade with Russia
16:24 COSCO Shipping plans to build 120 ships worth $4.5 billion
15:46 LR award AiP to CMB.TECH and Damen for hydrogen tug solution
13:51 Kongsberg Maritime opens a new facility in Kochi, India
13:11 Wind Challenger to be installed on coal carrier for J-Power
12:41 India, Egypt top destinations for Russian seaborne fuel oil, VGO exports in April
12:21 Newbuilding contracts signed by Greek shipowners are up more than 50% this year to March
11:40 The port of Piraeus receives permission to continue dredging from the State Council
11:05 Eastern Shipbuilding Group awarded contract to construct Fisher Island Ferry
10:49 Huangpu Wenchong receives contract for up to eight methanol-fuelled bulkers
10:28 Cadeler signs installation vessel reservation agreement for upcoming wind farm installation projects
09:58 ScanOcean launches renewable biodiesel fuel
09:42 Uralkali fertilizer exports hit 7.6-million tonne mark by the end of 2023

2024 May 23

18:00 Cadeler places order to build its third A-class vessel
17:34 Van Oord successfully installs first monopile using KENC’s flange mounted upending tool
17:12 The fire engulfed approximately 600 square meters of metal waste on industrial premises at the port of Hamburg
16:57 Hapag-Lloyd resumes CGX service between China, West Africa and Germany
16:38 The world's first methanol-powered container ship now on weekly service to the Port of Gothenburg
15:32 Inmarsat launches combined VSAT, LEO and LTE managed connectivity service
14:52 Dominican Republic, Oman and Saudi Arabia join the International Transport Forum
14:21 Canada’s TMX pipeline expansion to boost Asian crude oil trade
13:44 Norwegian Cruise Line expands its presence across Asia Pacific, Australia and New Zealand with over 30 new itineraries
13:21 Canadian Coast Guard issues $15,000 fine for a hazardous vessel
13:18 MABUX: Bunker Outlook, Week 21, 2024
12:51 Dunkerque LNG launches a request for interest for its Small Scale LNG services
12:11 SITC signs a strategic cooperation framework agreement with Fujian Port Group
11:40 Wartsila to convert two Scandlines ferries to plug-in hybrid operation
11:03 Hapag-Lloyd upgrades sea shuttle service between Ukraine and Romania
10:30 Japanese companies complete the early stages of a cross-industry project to create a secure data exchange system between shipyards and shipowners
10:02 GTT Strategic Ventures and Engie New Ventures jointly invest in CryoCollect to support the development of a unique CO2 capture technology for biogas
09:25 NatPower Marine and Peel Ports Group announce plans for first ‘green shipping corridor’ between UK and Ireland

2024 May 22

18:01 Sea-Intelligence: Avg. minimum transit time up 39% on Asia-MED
17:46 Kongsberg Maritime announces energy-efficient upgrade for Solstad’s Normand Sentinel
17:23 FMC launches investigation of the impact of Canadian regulations on U.S.-flag carriers
16:59 Dataloy Systems launches groundbreaking widgets at Breakbulk Rotterdam
15:34 Pyxis Tankers announces JV agreement to acquire modern dry-bulk vessel
15:32 Vympel unveils two concepts of a universal dry bulk / container carrier of Project 00111 Belomorets
14:25 LR awards Approval in Principle to Seaspan Corporation for next generation feeder ship design
13:59 HD KSOE, SHI faces 1trn won contract delays
13:22 HD Hyundai Marine Solution builds ship smartcare center in Busan
12:42 BBC Chartering takes delivery of first “LakerMax” newbuilding, MV BBC LEER
12:16 Copenhagen Port of Malmo and Green2x enter into a partnership to design and operate a biofuel production plant
11:58 Aker BP extends Deepsea Nordkapp firm contract to end 2026
11:20 Echandia secures an order for the delivery of battery systems to a Northern European ferry operator
10:43 Asso.subsea and Nexans join forces on historic Celtic Interconnector Project
09:59 EST-Floattech supplies Octopus battery systems to Wight Shipyard for river Thames

2024 May 21

18:02 MOL holds completion ceremony for newly completed operation and maintenance training facility for offshore wind power generation in Kitakyushu
17:37 SAFEEN Group trials first electric tug in Middle East for Marine Services fleet
17:13 First vessel in new fleet of next generation Parramatta River ferries enters service
16:59 Port Houston container volumes up 5% to 324,177 TEUs in April 2024
16:25 The first prototype trials of the Blue Visby solution demonstrate significant savings of CO2 emissions
15:40 New Times Shipbuilding launches LNG dual-fuel bulker for Eastern Pacific Shipping
15:24 New container service to connect the Chinese port of Qingdao with Mexico
14:52 Astrakhan SRZ launches the Project 22870 Rescue Tug Mikhail Chekov
14:47 TFG Marine’s dual-fuel bunker vessel wraps up first refueling in Singapore
14:12 New Zealand’s Kotahi and Maersk sign a second long term freight agreement to December 2034
13:24 TotalEnergies launches the Kaminho deepwater project in Angola
12:04 Headway Methanol Fuel Supply System supports the successful FAT of China's first methanol dual-fuel low-speed engine
11:17 Alfa Laval receives over 100 orders for its low-flashpoint fuel supply system FCM Methanol
10:45 Port of Los Angeles container volume increases 12% to 770,337 TEU in April 2024

2024 May 20

18:00 ADNOC secures equity position and LNG offtake agreement in NextDecades Rio Grande LNG Project
17:31 EDGE Group and Fincantieri formalise MAESTRAL shipbuilding JV and announce 400 mln euro order for 10 naval vessels
17:02 Genevos awarded European Commission funding for hydrogen fishing vessel demonstrator in ‘H2-SEAS’ consortium
16:43 MAI to invest in ship investment fund managed by Navigare Capital Partners
16:29 Three year collaboration between EMEC and FloWave offers wave and tidal energy developers ‘try-before-you-buy’ site simulation capability
15:58 IndustriAll Europe and SEA Europe agree on joint priorities ahead of the 2024 EU elections
14:51 Fincantieri shipyard launches Logistic Support Ship ‘Atlante’ for the Italian Navy's fleet
13:24 MOL Cruises announces the six inaugural cruises of MITSUI OCEAN FUJI