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  • 2021 June 10 17:00

    MABUX: Bunker Weekly Outlook, Week 23, 2021

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

    During Week 23, MABUX World Bunker Index showed moderate irregular fluctuations. The 380 HSFO index has decreased by 1.70 USD: from 442.04 USD/MT to 440.34 USD/MT, the VLSFO index has fallen by 1.35 USD: from 546.43 USD/MT to 545.08 USD/MT, while the MGO index added 2.01 USD (from 628.68 USD/MT to 630.69 USD/MT).

    MABUX ARA LNG Bunker Index - the average price of LNG as a marine fuel in the ARA region, has risen sharply during the week by 37.02 USD from 598.58 USD/MT to 635.60 USD/MT. At the same time, the average value of LNG Bunker Index also increased by 17.03 USD. The average price for MGO LS for the same period has increased by 13.66 USD/MT. Accordingly, the average price difference between bunker LNG and MGO LS in Rotterdam has increased significantly and is at 48.30 USD (versus 33.58 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 - has risen by $ 3.59 during the week and is above the psychological mark of $ 100: $ 105.87 (versus $ 102.28 last week). At the same time, the average value of SS Spread in Rotterdam also has increased by $ 6.84 and reached $ 116.67 ($ 109.83 last week). In Singapore, the average SS Spread also has risen by $ 4.33 to 117.83 USD ($ 113.50 last week). Thus, the values of the SS Spread index in both ports are almost equal and are well above the $ 100 mark, which makes the installation of scrubbers even more cost-effective. More information is available in 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 during the past week showed that 380 HSFO fuel remained undervalued in all four selected ports ranging from average minus $ 23 in Houston (versus minus $ 15 last week) and minus $ 19 in Fujairah (vs. minus $ 18) to minus $ 37 in Rotterdam (vs. minus $ 34) and minus $ 46 in Singapore (vs. minus $ 52). The most significant changes in underestimation ratio were recorded in Houston (up $ 8) and Singapore (down $ 6).

    VLSFO fuel, according to MABUX DBP Index, was also underpriced in all four selected ports: in Houston the average underestimation was minus $ 7 (minus $ 3 last week), in Rotterdam - minus $ 21 (unchanged), in Fujairah - minus $ 41 (versus minus $ 40), in Singapore - minus $ 44 (versus minus $ 47). Undervalue margins in all ports have changed slightly.

    As for MGO LS, MABUX DBP Index has registered an undercharge of this grade at all selected ports ranging from minus $ 27 (unchanged from last week) in Houston to minus $ 45 (unchanged) in Rotterdam, minus $ 54 (vs. minus $ 49) in Singapore and minus $ 51 USD (versus minus $ 53) in Fujairah. Here, no significant changes in the underestimation ratio were registered either.

    Maersk has proposed a carbon tax on ship fuel of $450 per ton of fuel – equating to $150 a ton of CO2 – as a ‘levy to bridge the gap between the fossil fuels consumed by vessels today and greener alternatives that are currently more expensive’. As per Maersk, ‘Fossil fuels cannot keep being cheaper than green fuels. Action is required now. It is vital to consider all greenhouse gases, not just CO2, on a full life cycle analysis, otherwise we will not be able to truly decarbonize shipping by 2050 in line with the Paris Agreement’. The proposal sparked mostly positive reactions but one theme running through some of the responses was that such a tax could place a heavy burden on smaller players, and others said they prefer to see carbon trading rather than a carbon tax.

    Source: www.mabux.com




2021 October 25

15:23 Trafigura Group closes USD2.4 billion-equivalent syndicated revolving credit facility and term loan facilities
14:22 Sea Port of Saint Petersburg’s employees support package during COVID-19 pandemic
14:02 Svanehøj launches a new control system makes P&C offloading faster and easier
13:20 PIL launches new direct China to Gulf Service – Gulf China Service
12:15 Port of Hamburg honoured as ‘Best Seaport – Europe’
11:35 LR granted AiP to Samsung Heavy Industries for liquefied hydrogen carrier
11:12 Rosmorport updates Port of Ust-Luga data in the Register of Russia’s seaports
10:17 MABUX: Bunker prices may demonstrate upward changes on Oct 25
09:38 Russian Gov’t gives green light to imposing some port services tariffs in foreign currency
09:21 Baltic Dry Index as of Oct 22
09:17 Oil prices rise as crude stocks decline

2021 October 24

15:18 Carnival Cruise Line christens Mardi Gras
14:31 TenneT's Hollandse Kust (noord) jacket ready to set sail
13:48 Jonathan Lord MP visits Petrofac to discuss hydrogen technology in woking
13:24 CDWE signs ECA for the provision of pin piles with EEW for Hailong project
12:51 Prosafe SE: Prosafe awarded 2022 contract by TotalEnergies
12:31 FMD names Robert Starr Chief Financial Officer
11:08 Holland America Line's Rotterdam is on maiden voyage from Amsterdam to Florida for inaugural Caribbean season

2021 October 23

14:32 Viking begins sailing from Port Everglades for 2021-2022 winter season
13:12 Maritime NZ launches latest No Excuses on-water boating safety campaign
12:41 Governor Ron DeSantis: Florida’s seaports are open and ready to meet holiday demands
11:34 Ecochlor appoints Andrew Marshall as CEO
10:49 USCG interdicts 3 lanchas illegally fishing US waters

2021 October 22

18:01 RS provides the designers with a tool for automated check of hull structures
17:40 IADC supports 5th International Congress “Hydraulic Engineering Structures and Dredging” as its Partner
17:15 EXMAR and LATTICE announce joint development of CO2 carrier
16:27 Cargo traffic within Azov-Don Basin of Russia’s IWWs fell by 12% in 10M’21
16:04 COSCO SHIPPING Ports and Silk Road Fund agree to establish cooperative strategic relationship
15:12 Port of Salalah partners with Maersk to launch a new end-to-end logistics service to Yemen through the Al-Mazyunah free zone
14:58 Marine Recruiting Agency trained 38% more people in 9M'2021
14:22 North Sea Port makes up for pandemic losses step by step in the first nine months of 2021
13:22 Bollinger Shipyards delivers 46th fast response cutter ahead of schedule despite direct hit from hurricane Ida
12:32 Port of Los Angeles reduces net air pollution during pandemic year
12:28 Navigation season officially closed in Lena Basin of RF IWW
12:01 GTT is selected by Samsung Heavy Industries to design the fuel tanks for six new LNG-fueled mid-size container vessels
11:49 Austal Australia delivers 13th Guardian-class Patrol Boat
11:22 Hyundai Heavy Industries awards no objection letter to Gazpromneft Ocean oils
10:21 Singapore crowned as the “Best Global Seaport” for the first time and won "Best Seaport in Asia" for the 33rd time
10:11 Delegation of MOL shipbuilding company visits Rosmorport’s Murmansk Branch
09:49 MABUX: Bunker prices may demonstrate downward changes on Oct 22
09:27 Crude oil prices decrease following the growth
09:10 Baltic Dry Index as of October 21

2021 October 21

18:26 Mermaid contract awards in Thailand, Angola and Saudi Arabia total 120 million USD
18:02 Non-self-propelled dredgers of Project 4395 laid down in Gorodets for Russian IWW Basin Administrations
17:46 Magseis Fairfield enters strategic collaboration with PGS for the hybrid towed streamer and OBN market
17:31 HELCOM adopts the updated Baltic Sea Action Plan, charting a way forward for a healthy Baltic Sea
17:16 DP World launches CARGOES Logistics
16:30 Proman and Stena jointly develop methanol as the pathway to sustainable shipping
16:14 APM Terminals and ZPMC enter into strategic alliance
15:33 MPC Container Ships ASA secures new financing facility, agrees on sale of six vessels and provides update on charter fixtures
15:32 Okskaya Shipyard lays down lead ship of Project RSD71 for Volga Shipping Company
15:03 NYK and Japan Marine Science to introduce and promote new mooring system to Japan ports together with Trelleborg Marine Systems
14:45 MABUX: Bunker Weekly Outlook, Week 42, 2021
14:03 NYK delivers new LNG carrier LNG Endeavour to TotalEnergies
13:49 Global Ports Investments published its Q3 and 9m 2021 operational results
13:28 Seaspan Ferries to reduce greenhouse gas emissions through using carbon-neutral Renewable Natural Gas in LNG-powered vessels
13:18 Consolidated cargo turnover of NCSP Group for 8M 2021, year-over-year
12:34 Dmitry Pankov appointed as new CEO of Management Company Delo
12:11 Port of Los Angeles cargo volume exceeds 903,000 TEUs in September 2021
11:53 Hydrographic Company installs first buoys with AIS receivers on the Northern Sea Route