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  • MABUX: Bunker Weekly Outlook, Week 26, 2021
  • 2021 July 1 13:02

    MABUX: Bunker Weekly Outlook, Week 26, 2021

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

    During Week 26, MABUX World Bunker Index did not show significant changes. The 380 HSFO index rose by 2.75 USD: from 454.61 USD/MT to 457.36 USD/MT, the VLSFO index lost 0.08 USD: from 558.89 USD/MT to 558.81 USD/MT, while the MGO index added 1.30 USD (from 650.06 USD/MT to 651.36 USD/MT).

    European gas market prices have rallied during last two weeks. Summer gas prices reached record levels on lower supply of gas and demand for storage injections. MABUX ARA LNG Bunker Index - the average price of LNG as a marine fuel in the ARA region, remained practically unchanged from June 23 to June 30: slightly down from 670.35 USD/MT to 670.01 USD/MT. At the same time, the average value of LNG Bunker Index rose by 39.34 USD compared to the previous week. The average price for MGO LS in Rotterdam has decreased by 9.00 USD/MT during the same period. Meantime, the average price difference between bunker LNG and MGO LS in Rotterdam increased by 33.67 USD and is at 85.06 USD (versus 51.39 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 not changed during the week and is still above the psychological mark of $ 100: $ 103.33 (versus $ 103.30 last week). At the same time, the average value of SS Spread in Rotterdam increased by $ 2.17 and reached $ 110.50 (vs. $ 108.33 last week). In Singapore, the average SS Spread has not changed and remained at USD 116.50. The SS Spread averages in 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 showed that 380 HSFO fuel remained undervalued in all four selected ports ranging from minus $ 28 in Houston (versus minus $ 30 a week ago) and minus $ 24 in Fujairah (versus minus $ 21) to minus $ 39 in Rotterdam (unchanged) and minus $ 44 in Singapore (versus minus $ 50). The most significant change in HSFO's MBP / DBP Index 380 was registered in Singapore (underpricing up $ 6).

    VLSFO fuel, according to the MABUX DBP Index, was also underestimated in all four selected ports: in Houston the underpricing was minus $ 18 (minus $ 19 last week), in Rotterdam - minus $ 34 (unchanged), in Fujairah - minus $ 49 (versus minus $ 48), in Singapore - minus $ 47 (versus minus $ 50). The VLSFO MBP / DBP Index for all selected ports remained virtually unchanged.

    As for MGO LS, MABUX DBP Index has registered an undercharge of this grade at all selected ports ranging from minus $ 20 (unchanged from last week) in Houston to minus $ 49 (unchanged) in Rotterdam, minus $ 58 (vs. minus $ 61) in Singapore and minus $ 58 (unchanged) in Fujairah. The MBP / DBP Index correlation for MGO LS fuel also remains stable.

    German environmental group NABU said, the results from a study on the potential of ammonia as bunkers show that ammonia as a marine fuel has a high potential for climate protection if nitrous oxide generated during the combustion is eliminated. The study found that, from an air pollution angle, ammonia is ‘recommendable’ if harmful nitrogen oxide emissions are also addressed, while from a safety perspective, ‘strict’ regulations are required to prevent leakage owing to the highly toxic nature of the fuel. The study also found that even if ammonia is not widely used as a fuel in shipping, investments in ammonia infrastructure will not be a stranded assets as ammonia will play an important role in the decarbonisation of other sectors in the hydrogen economy. The ‘timely’ financial and legal promotion of green ammonia production under the necessary environmental and safety requirements would therefore be a ‘no-regret decision’ for climate protection in contrast to today’s decisions for LNG use and infrastructure, NABU said.

    Source: www.mabux.com

2023 March 27

18:07 Navigator announces additional vessel acquisitions under 60/40 JV with Greater Bay Gas
17:58 Delo Group and Shandong Port Group agreed to set up a joint venture
17:40 ADNOC to collaborate with the Government of North Rhine-Westphalia and Currenta to establish the viability of ammonia as a fuel for steam and power generation
17:26 Orsted, Simply Blue Group and Subsea7 win Scottish floating wind lease
17:06 Purus Wind signs order with Damen Shipyards for eight, low-emission vessels for wind farm operations
16:49 Container ships under construction at USC’s Lotos shipyard for North-South ITC to become a series of 21 units
16:35 Jan De Nul completes capital dredging in Payra Port
16:15 Capital Ship Management takes delivery of M/T 'Avax'
15:56 RF Navy’s frigate Admiral Kasatonov completed long-range missions of 420-day campaign
15:40 DP World Antwerp Gateway introduces fingerprint scanning technology to improve container pick up security
15:24 Aker Solutions receives contract from Equinor to tie back the two gas fields
15:04 Neste and Terntank sign an agreement for two new lower-emission tankers to transport raw materials and products
14:57 Rosatom works towards accepting data from Chinese satellites to support NSR navigation — media
14:38 APM Terminals announces strategic partnership for a project to develop two new deep-water berths in Vietnam
14:34 MOL expands financing base through transition linked loan
13:59 Navigation season of 2023 opens in Azov-Don Basin of Russia’s IWW ahead of schedule
13:41 Uralhimmash shipped equipment for Rooppur NPP in Bangladesh
13:40 Port of Oakland February container volume down 23% in Feb 2023
13:12 SEA-LNG welcomes provisional FuelEU Maritime agreement
12:33 AD Ports Group launches new Ro-Ro shipping service to improve commercial connectivity with Kuwait via Khalifa Port
12:06 Russian seaports handled 842 million tonnes of cargo in 2022, up 0.8% YoY
11:34 Russia’s container market expected to grow by 3% this year
11:30 DNV awards first D-INF(S) type approvals to COSCO and SHI for standardized data infrastructure systems
11:10 Cosco Shipping Heavy Industry delivers three new ships on the same day
11:03 Container throughput fall in Russian seaports could not be offset yet — Rosmorrechflot
10:41 Port of Rotterdam Authority tests smart berth at ECT
10:40 RF Transport Ministry monitors the situation with the Crimean Bridge daily
10:17 DP World invested more than $10 billion in the global logistics sector since 2012
10:05 Shipment of containers from the Far East has normalized – Vitaly Savelyev
09:42 RF Transport Ministry expects transshipment volumes in Russian seaports to grow by 8 million tonnes
09:41 U-Ming holds a christening ceremony for Capesize bulk carrier
09:19 Inland water transport to carry 9.5 million passengers in 2023 – RF Transport Minister
02:00 Russian company MYContainers develops cooperation with international sea lines

2023 March 26

15:01 MSC brings new European container service to JAXPORT
14:17 WuHu Shipyard hosts steel-cutting ceremony for Orca series heavy lift vessel for Jumbo and SAL
13:37 Green light for transformational Celtic Freeport bid
12:31 Crowley names Mark Coplen Vice President of project management for Crowley Wind Services
11:54 Humber Freeport given the go-ahead
10:21 HII announces new VP and Chief Councel of Ingalls Shippbuilding
09:43 Estaleiro RIO Maguari (ERM) delivers first Ramparts 2300-ERM tug to Svitzer Brazil

2023 March 25

15:13 GTT secures contracts for its cutting-edge Sloshing Virtual Sensor solution with two major European LNG ship-owners
13:11 Korea’s No. 1 LNG Shipping company likely to see overseas buyer
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2023 March 24

18:28 IAA PortNews’ summary of past week news
18:05 Damen Maaskant offers future-proof solution for tropical shrimp fishermen
17:41 Stolthaven Terminals joins the Ammonia Energy Association
17:16 Silversea Cruises and MEYER WERFT celebrate the keel laying of Silver Ray
17:07 Sea terminal to be built in Novorossiysk under concession scheme
16:55 Ocean Thermal Energy Conversion demonstration project in Okinawa selected by Japan's Ministry of the Environment
16:34 Channel Ports and DFDS join forces to decarbonise cross-Channel transport
16:34 New ferry Stanislav Agapov to start operation in Ust-Kamchatsk in spring 2024
16:13 Annual capacity of ports Olya and Makhachkala to be increased by 5.6 million tonnes
15:49 WinGD to deliver methanol engines for COSCO SHIPPING Lines container vessels
15:25 Ministry of Energy reports 20-pct decrease of coal industry’s negative impact on water bodies over recent 5 years
15:03 Liberty Lines’ hybrid ferry order at Astilleros Armon expands to twelve
14:51 Nakhodka shipyard estimates readiness of crab catcher Kapitan Khazan of Project CCa5712LS at 86%
14:34 New hybrid ferry 'P&O Pioneer' docks at DP World Limassol for bunkering
14:13 China's Xinxing to invest $2 bln in Suez Canal Economic Zone
13:42 Port of Antwerp-Bruges and Port of Amsterdam join forces with Routescanner