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  • MABUX: Bunker Weekly Outlook, Week 25, 2021
  • 2021 June 24 12:14

    MABUX: Bunker Weekly Outlook, Week 25, 2021

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

    During Week 25, MABUX World Bunker Index continued slight upward trend. The 380 HSFO index has increased by USD 4.74: from 447.89 USD/MT to 452.63 USD/MT, the VLSFO index has risen by 4.25 USD: from 552.37 USD/MT to 556.62 USD/MT, while the MGO index has added 4.46 USD (from 644.69 USD/MT to 649.15 USD/MT).

    MABUX ARA LNG Bunker Index - the average price of LNG as a marine fuel in the ARA region, has increased by 39.28 USD during the week from 631.07 USD/MT to 670.35 USD/MT. At the same time, the average value of LNG Bunker Index has decreased by 0.67 USD versus last week. The average price for MGO LS in Rotterdam has risen by 4.67 USD/MT during the same period. Meantime, the average price difference between bunker LNG and MGO LS in Rotterdam has decreased slightly and is at 51.39 USD (versus 56.73 USD last week). More information is 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 fallen by $ 1.38 but is still above the psychological $ 100 mark: $ 103.30 (versus $ 104.68 last week). The average value of SS Spread in Rotterdam also decreased by $ 5.67 and reached $ 108.33 ($ 114.00 last week). On June 17, the SS Spread index in Rotterdam briefly dropped below the $ 100 mark. In Singapore, the average SS Spread also has dropped by $ 1.67: $ 116.50 versus $ 118.17 last week. The SS Spread averages at both ports remain 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 during the past week has shown that 380 HSFO fuel remained undervalued in all four selected ports ranging from minus $ 30 in Houston (unchanged compared to last week) and minus $ 21 in Fujairah (versus minus $ 20) to minus $ 39 in Rotterdam (unchanged) and minus $ 50 in Singapore (versus minus $ 52). In general, the 380 HSFO’s MBP Index has not had any significant changes.

    VLSFO fuel, according to the MABUX DBP Index, was also underestimated in all four selected ports: in Houston the underpricing was minus $ 19 (minus $ 11 last week), in Rotterdam - minus $ 34 (vs. minus $ 26), in Fujairah - minus $ 48 (versus minus $ 44), in Singapore - minus $ 50 (versus minus $ 49). The most significant changes of VLSFO underestimation margins were recorded in Houston and Rotterdam (up $ 8 in each port).

    As for MGO LS, MABUX DBP Index has registered an undercharge of this grade at all selected ports ranging from minus $ 20 (minus $ 22 compared to last week) in Houston to minus $ 49 (vs. minus $ 45) in Rotterdam, minus $ 61 (vs. minus $ 49) in Singapore and minus $ 58 (versus minus $ 44) in Fujairah. The most significant changes of MGO LS underpricing were recorded in Singapore (up $ 12) and Fujairah (up $ 14).

    Shipping organizations have welcomed the ‘growing momentum’ for a $5 billion R&D Fund for shipping at MEPC 76 - but called on governments to ‘act in line with their climate commitments’ and ‘not waste more time’ in moving forward with decisive action to support the decarbonisation of the industry. BIMCO, CLIA, INTERCARGO, INTERFERRY, International Chamber of Shipping INTERTANKO, IPTA and World Shipping Council noted that the world’s governments had agreed to continue work on the IMO-supervised R&D Fund programme, to be led by a new International Maritime Research and Development Board (IMRB). However, they also expressed their disappointment that ‘yet again we must wait for the next meeting before we can get going’. The $5 billion R&D Fund programme is designed to accelerate the development and introduction of zero-emission technologies and fuels for maritime transport.

    Source: www.mabux.com

2022 January 18

18:45 X-Press Feeders launches Germany Sweden X-Press
18:04 Crown Estate Scotland announces the outcome of the first Scottish offshore wind leasing round in over a decade
17:52 Throughput of Russian seaports in 2021 climbed by 1.7% (detalization)
17:34 Fugro secures cable route survey contract for Denmark’s Energy Islands development supporting the transition to renewable energy
17:04 MPC Capital secures new building slots for 5,500 TEU container ships
16:54 Incat Tasmania awarded a contract to build a 76 metre high speed catamaran for South Korea
16:40 Throughput of Taganrog port in 2021 fell by 1% Y-o-Y
16:24 NYK concludes long-term charter agreement for LNG carrier with EDF LNG Shipping
16:04 Ulstein and Sinoocean sign a framework agreement on spare parts and aftermarket services
15:44 DP World launches a single window digital solution for border authorities
15:24 KONGSBERG delivers innovative propulsion technology to VARD for vessel newbuilds
15:04 Knutsen and NYK establish new company for liquified CO2 Transportation and storage
14:35 NYK orders four LNG-fueled Capesize bulk carriers
14:14 GTT receives two orders for the tank design of new LNG carriers
13:37 Throughput of port Kavkaz in 2021 fell by 19% Y-o-Y
13:14 Unifeeder starts using carbon neutral towage services to boost decarbonization
12:50 Throughput of Kaliningrad port in 2021 rose by 2% Y-o-Y
12:25 Throughput of port Vyborg in 2021 rose by 60% Y-o-Y
12:01 Chinese refinery throughput falls in December
11:36 Port of Boston welcomes its biggest container ship ever
11:19 Fluxys launches 4 additional proposals for hydrogen and CO2 infrastructure in Belgium
10:28 Throughput of port Primorsk in 2021 rose by 7% Y-o-Y
10:03 The Nippon Foundation and Shin Nihonkai Ferry complete a demonstration test of the world’s first fully autonomous ship navigation systems on a large car ferry
10:02 MABUX: Bunker price may continue upward trend on Jan 18
09:49 Container throughput of Hong Kong port (China) in 2021 fell by 1.1%
09:31 Baltic Dry Index as of January 17
09:13 Brent futures exceeded $87 a barrel for the first time since October 2014

2022 January 17

19:02 Thyssenkrupp plans to spin off electrolyser business
18:16 Konecranes delivers three more Rail-Mounted Gantry cranes to Port of Virginia
18:00 Gazprom experts join editorial advisory board of PortNews’ magazine Hydrotechnika
17:46 ICTSI Subic welcomes Wan Hai’s consolidated service
17:33 Average spot market price for Russian M100 product rose to RUB 26,989 pmt
17:26 ICS and IRENA sign a Partnership Agreement to support the decarbonisation of the shipping sector
17:14 Concordia Maritime sells P-MAX vessel
16:51 Passenger Terminal Amsterdam expands business by adding river cruise under the new name Cruise Port Amsterdam
16:31 Ballastwater Equipment Manufacturers’ Association recognized by the IMO
16:04 Maersk Tankers to launch decarbonisation hub
16:04 ABP to construct a new ro-ro facility at the Port of Immingham
15:39 Throughput of port Vysotsk in 2021 fell by 9% Y-o-Y
15:14 The PAV and the València City Council collaborate in the installation of a pilot device for generating electricity from waves
14:57 Port of Ust-Luga throughput in 2021 rose by 7% Y-o-Y
14:40 BPA selects the Dongwon New Port Container Terminal Consortiaum to operate the Busan New Port’s West Container Terminal
14:13 TotalEnergies, Green Investment Group and RIDG secure ScotWind leasing rights to develop a 2 GW windfarm in Scotland
14:00 Throughput of Port St. Petersburg climbed by 4% in 2021
13:38 APM Terminals Aarhus adds reefer plugs to meet record volumes
13:25 FESCO vessel set sails to Antarctica to supply Indian scientific stations
12:52 HPA and DAKOSY receive funding for digital test bed at Port of Hamburg
12:18 MTG supports V International Congress “Hydraulic Engineering Structures and Dredging” as its Sponsor
12:02 Bloomberg: Italy’s ferry operator Moby files for Chapter 15 bankruptcy
11:56 Port of Antwerp cargo throughput up 3.8% to 240 million tons in 2021
11:49 Vostochny Port increased its throughput by 14.4% over five years
11:07 Optimarin expands global sales team in market push for BWT retrofits and newbuilds
10:54 MABUX: Bunker price may increase on Jan 17
10:24 Dual-fuel ferry for Ust-Luga-Baltiysk line to arrive at Baltiysk soon
09:56 IAA PortNews’ summary of previous week news
09:30 Crude oil market sees moderate increase of prices
09:12 Baltic Dry Index as of January 14

2022 January 16

16:03 Norwegian Cruise Line introduces Norwegian VIVA
14:17 SCHOTTEL to supply propulsion systems for new Italian LNG bunkering vessel
13:38 Wilhelmsen Ship Management takes a majority stake in Ahrenkiel Tankers to strengthen its position in the tanker market