• 2021 October 14 15:25

    MABUX: Bunker Weekly Outlook, Week 41, 2021

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

    On a Week 41, the MABUX World Bunker Index continued its firm upward trend, but in a bit slightly manner that the week before. The 380 HSFO index rose by 11.18 USD : from 522.50 USD / MT to 533.68 USD / MT. The VLSFO index increased by 17.69 USD: from 614.17 USD / MT to 631.86 USD / MT, while the MGO index added 19.15 USD (the rise from 736.98 USD / MT to 756.13 USD / MT).

    MABUX temporarily suspends publication of the MABUX ARA LNG Bunker Index as the LNG bunkering market has practically stalled due to falling demand caused by a sharp increase in gas prices in Europe. We believe the gas crisis is temporary and expect LNG bunkering operations to resume by the end of this year. The publication of the MABUX ARA LNG Bunker Index will resume as soon as the LNG bunker market recovers.

    The average weekly Global Scrubber Spread (SS) - the difference in price between 380 HSFO and VLSFO - continued a slight decline during the week and amounted to $ 92.65 (versus $ 93.35 last week). Meantime, the average weekly SS Spread in Rotterdam declined and now is a little below the $ 100 mark: $ 98.17 (against $ 110.33 last week, minus $ 12.16). The average SS Spread in Singapore, on the contrary, continued to decline and is well below the psychological mark of $ 100: $ 69.50 versus $ 71.33 last week (minus $ 1.33). 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 over the past week showed that 380 HSFO fuel was overvalued in all selected ports (except of Houston), where the Index recorded an underpricing of $ 14 (vs. minus $ 16 a week earlier). In other ports, 380 HSFO was overcharged: in Rotterdam - plus $ 25, in Singapore - plus $ 48 and in Fujairah - plus $ 29.

    VLSFO fuel grade, according to the MABUX MBP / DBP Index, was in the undervaluation zone in two out of four selected ports: in Singapore by minus $ 8, in Fujairah by minus $ 10. In Rotterdam and Houston this fuel grade was overvalued by $2 and $5 respectively.

    The MABUX MBP / DBP Index also recorded an undercharge of MGO LS fuel at all selected ports: minimum value in Houston (minus $ 4), maximum value in Fujairah (minus $ 50).

    Overall, MGO LS HSFO remains the only fuel type with undercharge status.

    A rapid replacement of fossil fuels with renewable fuels based on green hydrogen and advanced biofuels could enable to cut up to 80% of CO2 emissions attributed to international maritime shipping by mid-century, a new report by the International Renewable Energy Agency (IRENA) finds. Renewable fuels should contribute at least 70% of the sector’s energy mix in 2050, IRENA’s A Pathway to Decarbonise the Shipping Sector by 2050 shows, outlining a roadmap for the global shipping sector in line with the global 1.5°C climate goal.

    Source: www.mabux.com


2024 March 18

18:13 Brunvoll propulsion chosen for ESVAGT's growing fleet of SOVs
17:42 ADNOC signs second long-term Heads of Agreement for Ruwais LNG Project
17:37 Cemre Marin Endustri shipyard holds launching ceremony for CMAL's MV Isle of Islay
17:24 Fortescue successfully conducts world’s first use of ammonia as a marine fuel in a dual-fueled ammonia-powered vessel in the Port of Singapore
17:02 APL updates on European Union’s Import Control System 2
16:03 MED Marine contracted to build MED-A2575 series tug for SVS Maritime
15:31 Hanwha Ocean and BV join hands to develop a 270K LNG carrier
15:17 HD Korea Shipbuilding awarded contracts for three VLACs
14:18 Port of Skagen and Stillstrom partner to decarbonise anchorage zone with offshore charging solutions
13:22 Sanmar delivers 6th battery electric power tugboat to Norwegian operator
13:16 COSCO SHIPPING Lines announces the launch of OCEAN Alliance DAY 8 product this year
12:21 Dutch offshore wind farm approved by LR
11:39 ClassNK awards first-ever notation for improvements in living and working environment to Fuyo Kaiun's bulk carrier "ELETTRA"
11:31 Davie strengthens Québec’s shipbuilding industry by supporting the reorientation of AFCDC
10:44 Storylines and Brodosplit shipyard renew ship building contract to construct private residence ship
10:25 BOEM announces environmental review of proposed wind energy project offshore New Jersey
09:51 First ‘flying’ electric ferry to debut in New Zealand in 2025

2024 March 17

16:31 Norwegian Shipowners' Association names Harald Fotland as its President
15:22 ABS Wavesight Nautical Systems now supports fully digital, streamlined SIRE 2.0 inspections
14:15 TechnipFMC selected by NEP to deliver the first all-electric iEPCI for CCS
13:03 US sanctions shipping company, targeting Iran and Houthi rebels
11:01 The first hybrid electric vessel built in South America will use a Corvus battery system
09:47 Kalmar and Forterra sign JDA for autonomous terminal tractor

2024 March 16

16:24 The Netherlands selects Naval Group for its submarine replacement program
15:41 Equinor exercises options to extend four-year drilling contracts
14:17 GONDAN Shipbuilders hosts launching ceremony for Edda Wind's CSOV C503
13:47 Van Oord, Van Aalsburg partner to further develop circular fascine mattresses
12:13 Snam wins "A" raing in CDP's Suppliers Engagement Rating for efforts against climate change
10:54 ULSTEIN unveils new subsea vessel for offshore energy tasks

2024 March 15

18:07 DNV gives nod to Friede & Goldman BargeRack solution
18:02 New partnership enables faster offshore wind installations in the U.S.
17:53 First production line at ‘World’s Largest Monopile Factory’ to go live in July
17:21 Brunvoll DP2 upgrades for more Mokster vessels
16:55 CMA CGM to suspend its calls at Port au Prince, Haiti
16:03 GEFO's LNG DF chemical tanker Tosca gets Green Award
15:19 CEVA Logistics develops new vehicle logistics business at the Port of Dunkirk
14:11 MPA: SaR operation continues for a missing crew member of the Liberia-flagged UTOPIA
13:07 To develop the Far East it makes sense to build a new shipyard in the country’s eastern regions, President Putin said
12:48 World’s first use of ammonia as a marine fuel in a dual-fuelled ammonia-powered vessel in the Port of Singapore
11:39 COSCO Shipping calls Port of Genoa, Italy with 20,000 TEU vessels on regular basis
10:03 DMC contracted to supply rudder systems for the world’s largest PCTCs

2024 March 14

18:04 Shearwater awarded seismic survey for UK carbon capture and storage project
17:15 UAE, world leaders discuss maritime corridor for aid to Gaza
16:05 Marine fuel sales at Singapore drop to a three-month low in February
15:43 World Shipping Council selects NCB for liner shipping Cargo Safety Program
15:00 ZIM reports results for 2023
14:57 DP World announces 2023 results
14:29 HaiSea unveils new operations facility for the world’s greenest tugboat fleet
13:44 DEME awards KENC with engineering and fabrication scope on multiple offshore wind installation projects
13:25 MABUX: Bunker Outlook, Week 11, 2024
12:43 Wartsila Lifecycle Agreement to support optimised low-emission operations for two P&O Ferries vessels
11:35 Hapag-Lloyd transport volumes up by 0.5% to 11.9 million TEU in 2023
10:51 NYK and Astomos Energy christen new dual-fuel LPG carrier
10:25 Port of Long Beach container volume up 24.1% to 674,723 TEUs in Feb 2024

2024 March 13

18:02 Lebanese, French officials float a plan to rebuild Beirut port nearly 4 years after huge explosion
17:23 Ascenz Marorka obtains type approval for cyber-security from Bureau Veritas for its digital solutions
16:58 USDOT announces $500 mln for ports available through the Port Infrastructure Development Program
15:44 RINA wins contract to create global investment plan for cruise sector
15:23 Hede International Shipping enters the Transpacific container trade
14:43 Concordia Damen wins contract to deliver a CDS2410 River Pusher to Transporte Fluviales Frey Bentos
14:13 CMA CGM Group launches its first loyalty program SEA REWARD
13:13 Cargill posts results of the six-month test period of the world’s first wind-powered ocean vessel
12:24 Rotterdam's Gate Terminal sees need for more LNG bunkering capacity at Rotterdam
11:58 MOL announces delivery of LNG-fueled car carrier CERULEAN ACE
11:24 Panama Canal announces increase in daily slots at Panamax locks
10:25 thyssenkrupp Veerhaven plans the climate-friendly pusher tug

2024 March 12

18:04 Cosco Shipping installs Iridium Global Maritime Distress and Safety System on PCTC Cosco Tengfei
17:30 LR issues Project Certificate for CrossWind Hollandse Kust Noord wind farm
17:16 The shipping industry to need €3.7 trillion by 2050 to move towards a zero-pollution era
16:25 China Classification Society and MAN ES sign dual-fuel methanol engine agreement