• 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




2024 June 17

18:16 Philippine supply ship bumped Chinese ship
17:49 Survitec secures JMSDF submarine escape suit contract
17:36 First mega cruise ship built for short cruises delivered to Royal Caribbean
17:14 Petroleum chemical product carriers drive order performance of Korea shipbuilding industry
16:37 MPA: Joint oil spill clean-up operations advance to next phase
16:23 Greek shipowners start investing in large new ships to transport ammonia
15:42 BV awards AiP to Antwerp-based Seafar for its remote vessel operation technology
14:31 USACE continues maintenance dredging at Markland Locks
14:29 Green Marine UK partners with C-Power to advance autonomous offshore power systems
13:17 Van Oord releases statement concering collision Vox Maxima with bunker vessel
12:04 Green Marine and Ocean Kinetics form JV Partnership to decomission OpenHydro tidal turbine in Scotland
11:52 ClassNK releases 2nd Edition “FAQs on the FuelEU Maritime”
11:07 Allision of dredger Vox Maxima was caused by a sudden loss in engine and steering control, MPA investigation showed
10:28 Sweden-Belgium Green Shipping Corridor expands ambition for the world's first green ammonia shipping corridor and welcomes new partner
09:23 APM Terminals calls first movers to join Innovators Program to enhance visibility and reliability for customers
09:11 Georgia Ports Authority sees 22% container growth

2024 June 16

16:18 Diana Shipping Inc. announces time charter contract for m/v Myrsini with Cobelfret S.A.
15:16 MPA: Joint oil spill clean-up operations in Singapore continue
14:27 Watershed moment for AMSA’s future maintenance on aids to navigation
14:07 Mammoet awarded construction upgrade of Hawaii dry dock
13:54 CMA CGM announces update on its IEX 2 service
12:31 Jan De Nul order first plug-in hybrid dredging vessel
10:26 Solstad announces contract extension for its CSV duo by Subsea 7

2024 June 15

14:15 VARD hosts a christening ceremony for third VARD 8 02 design stern trawler
12:03 TECO 2030, BLOM Maritime and Samskip receive ENOVA grant to retrofit Samskip LNG Vessel with fuel cells and hydrogen fuel
10:06 The 3rd of 12 plug-in hybrid vessel joins Swedish shortsea operator's fleet
09:51 S&P Global: Guangdong province's market-based power subsidy supports gas demand growth

2024 June 14

18:09 Strategic R&D alliance formed to standardize materials for LH2 carriers
17:44 BSEE conducts first offshore wind turbine inspection
17:23 Aker Artic completes ice-going SOV concept for offshore wind farms
17:19 Orsted completes construction of combined wind and solar project in Texas
16:57 MPA: Oil spill clean-up in progress at Pasir Panjang Terminal
15:37 ADNOC awards $5.5 billion of contracts for Ruwais LNG plant
15:11 Allseas awarded Troll extension pipeline
14:26 Havila Shipping inks deals for its three PSVs with Equinor
14:03 LR partners with COFCO International on fleet emissions reduction programme
13:18 Bulk carriers second-hand market overperforms
12:53 CMA CGM announces PSS from Spain (Med) to West Coast South America, Central America & the Caribbean
12:00 QatarEnergy enters 10-year naphtha supply agreement with India's HPL
11:46 ABS releases new notation that enables vessel operators to carry an additional tier of containers
11:33 Holland Shipyards announces successful convertion of an inland vessel into dredger
11:17 DNV joins technical cooperation programme for medical devices (TCP III)
10:42 TES and “K” LINE partner for sustainable maritime shipping solutions
10:11 CMA CGM announces Peak Season Surcharge for Middle East Gulf & Pakistan-West Africa trade
09:48 MOL and INDU establish JV with for self-operated warehouses in JAFZA Dubai

2024 June 13

18:07 Jan De Nul and partners start AquaForest project for construction of mangrove island in Ecuador
17:31 UECC: Biofuels boost puts the leading European shortsea carrier on course to beat emissions reduction target
17:23 MacGregor secures crane order for MMA Offshore
16:40 KR grants approval to HD HHI’s next generation K-Ammonia Storage & Powered PCTC
16:13 Damen Shipyards signs contract with UK’s Portland Harbour Authority at Seawork 2024 for the supply of one of its latest tugs
15:52 First 800m3/h multifunctional amphibious dredger successfully completed
15:07 French engineering firm Doris contracted by Mexican operator on its $4.5 billion oil project
14:51 Damen unveils fully electric FCS 3210
14:38 KR, Hanwha Ocean, Amogy and HanwhaAerospace team up for application of ammonia reformers and ammonia fuel cellsystems to ships
13:44 Seabourn's expedition ship Seabourn Pursuit sails into Australia for the first time
13:26 BIMCO: Newbuilding prices climb 3% to highest level in 16 years
12:31 MABUX: Bunker Outlook, Week 24, 2024
12:23 KR grants AiP for 150K ULAC and signs MoU with SHI for development of ammonia-fueled container ships
10:49 DNV leads global joint industry project to set standards for crucial CO2 flow meter traceability and accuracy in CCUS
10:18 Avantis and T.J. Giavridis join forces to enhance support for Greek shipowners
09:36 Berg secures Louis Dreyfus Armateurs propulsion package for wind-assisted Airbus Ro-Ro vessels

2024 June 12

16:47 Solstad bags multiple contract awards in Brazil
13:18 Panama Canal announces new increase in draft and daily transit
11:37 Port of Salalah expansion on track to further reduce port stay by year end
11:06 DP World wins four finance and sustainability awards
09:53 Record number of cruise ships call at Port of Southampton in May

2024 June 11

18:17 WSC releases containers lost at sea report
17:41 SLSMC Board of Directors names new President and CEO
17:24 Hanwha Ocean launches Korea’s first large offshore wind turbine installation vessel
17:16 Kalmar continues to drive decarbonisation of cargo handling with new electric empty container handler