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  • MABUX: Bunker Weekly Outlook, Week 42, 2021
  • 2021 October 21 14:45

    MABUX: Bunker Weekly Outlook, Week 42, 2021

    The Week Outlook was contributed to IAA PortNews by Marine Bunker Exchange (MABUX)

    On a Week 42, the MABUX World Bunker Index continued its firm upward trend. The 380 HSFO index rose by 8.88 USD : from 533.54 USD / MT to 542.42 USD / MT. The VLSFO index increased by 15.50 USD: from 632.43 USD / MT to 647.93 USD / MT, while the MGO index added 16.28 USD (the rise from 758.27 USD / MT to 774.55 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 - increased during the week and amounted to $ 103.05 (versus $ 92.65 last week). Meantime and reached $100 mark. The average weekly SS Spread in Rotterdam also increased and now is above the $ 100 mark: $ 109.33 (against $ 98.17 last week, plus $ 11.16). The average SS Spread in Singapore, also rose but still remains a little below the psychological mark of $ 100: $ 96.00 versus $ 69.50 last week ( $ 26.50). 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 $ 9 (vs. minus $ 14 a week earlier). In other ports, 380 HSFO was overcharged: in Rotterdam - plus $ 23, in Singapore - plus $ 33 and in Fujairah - plus $ 21.

    VLSFO fuel grade, according to the MABUX MBP / DBP Index, was in the overvaluation zone in three of four selected ports: In Rotterdam by plus $10, in Singapore by plus $ 4, in Houston by plus $ 4. In Fujairah MABUX MBP Index for this fuel grade 100% correlates to DBP Index.

    The MABUX MBP / DBP Index also recorded an undercharge of MGO LS fuel in all selected ports: minimum value in Houston (minus $ 1), maximum value in Rotterdam (minus $ 34).

    Data from China’s General Administration of Customs, as reported by Reuters, shows show that China’s very low sulphur fuel oil (VLSFO) exports totalled 1.45 million tonnes in September, a 16% increase on the same period in 2020. September volumes were also up on the 1.59 million tonnes registered in August this year, while exports for the period January to September rose 39% on the year before to reach 14.66 million tonnes. The Customs data released today (20 October) also indicated that fuel oil imports under general trade were 515,165 tonnes. These volumes were supported by demand from some independent refiners for use as a feedstock to process into fuels due to stricter crude oil import quotas. Imports into bonded storage, which includes high and low sulphur fuel oil, totalled 611,495 tonnes in September.

    Source: www.mabux.com




2022 November 26

15:16 Shanghai Port enters a new stage of green transformation
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2022 November 25

18:27 Valenciaport studyies the expansion of ro-ro and reefer traffic with northern Morocco
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17:55 Draft amendments into Rules for subsidizing of large ships construction published on ad hoc federal portal
17:27 China-U.S. joint venture unveils new fleet brand of cruise ships - Xinhua
17:00 Engine work completed for Port of Antwerp-Bruges methanol-fuelled tug retrofit - Ship & Bunker
16:59 FESCO set to open new shipping service from Alexandria port to Novorossiysk
16:35 Russia’s container market fell by 15.8%, year-on-year, to 4.5 million TEU
16:12 Jan De Nul successfully connects TenneT’s electricity network and signs contract for the acquisition of the offshore support vessel
15:48 MOL to build two ocean-going cruise ships
15:33 RUB 2 billion to be invested in new grain terminal within SEZ Lotos in Astrakhan Region
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14:18 A.P. Moller - Maersk flags off a new dedicated weekly rail service from NCR to APM Terminals Pipavav
13:45 TES and EWE to build 500MW electrolyser at Wilhelmshaven
13:40 Proman Stena Bulk officially names new methanol-fuelled tanker Stena Pro Patria
12:31 Ningbo Containerized Freight Index decease significantly in November 2022
12:14 China ports container volume rises 4.0% in January - October 2022
11:46 Tariff for some services changed in the seaport of Ust-Luga
11:42 ZeroNorth’s new Vessel Optimisation service delivers immediate emissions reductions
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10:35 China's Ningbo-Zhoushan Port launches sea-rail container transport for NEV exports - Xinhua
10:17 RF Government to provide RUB 3.88 billion for subsidizing of cargo shipping to/from Kaliningrad Region
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2022 November 24

18:03 MEPSEAS South-East Asian marine protection project concludes
17:58 Nimofast signed a partnership with Kanfer Shipping to sell and deliver LNG via small-scale LNG
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16:59 James Fisher's first LNG dual-fuel tanker enters service
16:11 PetroChina completes first STS bunkering of LNG-powered ship in Shenzhen - S&P Global
15:34 Green NortH2 Energy receives EUR 2.3 million in R&D funding from Business Finland for the development of green hydrogen and ammonia production
14:58 Keppel O&M delivers first of three jackup rigs novated by Borr Driling to ADNOC Drilling
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10:51 ABS publishes detailed requirements for composite repairs
10:34 SMTU opens R&E Centre Digital Technologies for the Design and Construction of Marine Facilities SMTU-ASCON
10:14 Gunvor secures USD 1.645 billion credit facility
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2022 November 23

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17:20 The President of Mozambique Filipe Nyusi inaugurates Coral-Sul FLNG installation
17:06 Seapeak orders five LNG newbuilds against long-term charters
16:42 Suriname to construct a deep-water port
16:16 First floating LNG terminal arrives at German port - AP
16:06 Port of Hamburg sets a new record with 280 calls from 20 cruise lines
15:47 Allianz Global Corporate & Specialty reveales top causes of marine insurance claims
15:37 Delo Group proposed major container operators to jointly solve unloading issues of the Eastern polygon