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  • 2021 September 16 13:16

    MABUX: Bunker Weekly Outlook, Week 37, 2021

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

    On a Week 37, the MABUX World Bunker Index showed moderate growth. The 380 HSFO index rose by 10.95 USD: from 457.20 USD / MT to 468152 USD / MT, the VLSFO index increased by 12.38 USD: from 552.45 USD / MT to 564.83 USD / MT, while the MGO index added 8.31 USD (from 650.13 USD / MT up to 658.44 USD / MT).

    MABUX ARA LNG Bunker Index, calculated as the average price of LNG as a marine fuel in the ARA region, turned into a moderate decline over the Week 37 from 1062.42 USD / MT to 1058.30 USD / MT (minus 4.12 USD). At the same time, the average LNG Bunker Index increased by 21.85 USD compared to the previous week (1059.43 USD/MT versus 1037.58 USD/MT). The MGO LS average price in Rotterdam for the same period increased by 15.00 USD / MT, and the average price difference between bunker LNG and MGO LS in Rotterdam gained 17.85 USD, approaching the 500 USD mark: (472.10 USD/MT versus 454.25 USD/MT last week). Prices for LNG as a bunker fuel in the ARA region continue to rise amid uncertain prospects for the Nord Stream 2 pipeline, limited LNG supplies to Europe and limited pipeline gas supplies from Norway and Russia, and low gas storage levels in Northern Europe. LNG bunker price indices are available in the LNG Bunkering section on www.mabux.com.

    The average weekly Global Scrubber Spread (SS) - the price difference between 380 HSFO and VLSFO - remained virtually unchanged during the week at $ 95.00 (versus $ 94.43 last week). Meantime, the average value of SS Spread in Rotterdam stays stable above the $ 100 mark: $ 109.83 (vs. $ 108.00 last week, plus $ 1.83). Noteworthy is the continuing decline of average weekly SS Spread in Singapore: $ 83.67 versus $ 90.17 last week (minus $ 6.50).  More information is available in the Differentials section on the website www.mabux.com.

    Correlation of MABUX MBP Index (Market Bunker Prices) vs MABUX DBP Index (MABUX Digital Benchmark) in the four global largest hubs over the past week showed that 380 HSFO fuel grade was overvalued in all selected ports. The minimum overprice ratio was recorded in Rotterdam (plus $ 3) and Houston (plus $ 7), the highest – in Singapore (plus $ 46).

    VLSFO fuel, grade, according to the MABUX MBP / DBP Index, was also overcharged at all selected ports with trough levels in Houston (plus $ 7) and Rotterdam (plus $ 8). In Singapore and Fujairah, VLSFO overpricing was plus $ 17 and plus $ 18, respectively.

    MGO LS remains the only fuel grade that, according to MABUX MBP / DBP Index, was underpriced at all selected ports on Week 37: the minimum margin in Houston (minus $ 4) and the maximum - in Singapore (minus $ 30).

    A new report from Lloyd’s Register (LR) has called for ‘immediate action on maritime decarbonisation’ in order to prevent future supply chain interruptions and minimise disruption to the ‘backbone of world trade’.  LR pointed out that transition to zero-carbon shipping will be ‘among the most significant in the sector’s history’ and warned that a lack of regulatory certainty and support from policymakers could see a rushed and uncoordinated transition, potentially leading to significant supply chain disruption. The LR study found consensus among maritime experts that shipping companies, their customers, and governments, need to work together on global solutions before the urgency of the climate crisis forces the sector into disruptive and fragmented changes. The report also flagged up the importance of infrastructure and the availability of the new alternative shipping fuels.

    Source: www.mabux.com

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
11:32 Challenges and optimism: Mixed views from ports industry on business outlook
11:09 DP World is officially named Port Operator of the Year at 2021 Multimodal Award
10:39 Yara Marine’s FuelOpt offers IMO EEXI compliant Shaft Power Limitation solution
10:08 The Ocean Cleanup starts removal of plastic from Great Pacific Garbage Patch with System 002
09:52 MABUX: Bunker prices may demonstrate slight upward changes on Oct 21
09:50 Contract signed for Phase 2 of the Bagayevsky hydrosystem construction project
09:35 Crude oil market sees downward price correction
09:18 LR Digital Twin approval for Samsung Heavy Industries
09:09 Baltic Dry Index as of October 20
08:01 Aker Solutions wins FEED for Wisting FPSO

2021 October 20

18:51 Intellian and Inmarsat launch industry’s newest FleetBroadband terminals
18:31 Oceangate’s 2021 titanic survey expedition connected by Inmarsat satellite communications
18:11 P&O Ferries launches comprehensive Customs Clearance Service
17:46 Kongsberg launches new Kognifai Marketplace
17:06 Rolls-Royce plans to partner the Indian Navy for its ‘Fleet of the Future’
16:35 MAN Energy Solutions signs MoU with Mitsui E&S and Mitsui O.S.K.
16:23 “K” LINE successfully separates and captures CO2 from exhaust gas in world’s first CO2 capture plant on vessel
16:02 Seanergy Maritime announces acquisition of its 17th Capesize vessel
15:44 Rates for container transportation expected to decrease in 2022
15:25 ENI and Fincantieri sign an agreement for initiatives to support the energy transition
15:02 Wärtsilä and Solvang to collaborate on retrofitting carbon capture and storage system on Clipper Eos
14:20 Port of Rotterdam appoints Allard Castelein for a third term
13:52 Kawasaki Heavy Industries announces delivery of bulk carrier BBG GUILIN