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  • 2021 November 25 13:55

    MABUX: Bunker Weekly Outlook, Week 47, 2021

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

    On a Week 47, the MABUX World Bunker Index continued to drift lower. Index 380 HSFO decreased by 6.05 USD: from 501.67 USD / MT to 495.62 USD / MT. The VLSFO index lost 4.52 USD: from 638.10 USD / MT to 633.58 USD / MT, while the MGO index lost 13.58 USD (from 759.82 USD / MT to 746.24 USD / MT).

    The weekly average Global Scrubber Spread (SS) - the difference in price between 380 HSFO and VLSFO - remained virtually unchanged during the week, having declined by only $ 0.26 ($ 135.66 versus $ 135.92 last week). At the same time, the average SS Spread in Rotterdam also remained stable: $ 133.33 versus $ 134.00 (minus $ 0.67 versus last week), while the average SS Spread in Singapore decreased by $ 3.84 to $ 157.53 versus $ 161.67 last week. We believe that the suspension of upward trend in the SS Spread index is temporary at the moment. More information is available in the Differentials section of the website www.mabux.com.

    Gas prices in Europe remain volatile. On November 24, another increase in prices for LNG as bunker fuel was recorded at the port of Sines (Portugal) to 2050 USD / MT (versus 1931 USD / MT two weeks ago). The current price of LNG is 1328 USD up the price of MGO LS (722 USD / MT as of November 24).

    Correlation 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 undervalued in three out of four ports: Rotterdam (minus $ 15), in Singapore (minus $ 19) and Fujairah (minus $ 13). Only in Houston the MABUX MBP / DBP Index recorded an overcharge by $ 12.

    VLSFO fuel grade, according to the MABUX MBP / DBP Index, was undervalued in only one port - in Rotterdam by minus $ 5. At all other ports, the overpricing was registered as plus $ 27 in Singapore, plus $ 33 in Fujairah and plus $ 1 in Houston. The trend towards the transition of VLSFO fuel grade to the overcharge segment continues.

    As for the MGO LS, the MABUX MBP / DBP Index continued to register an overpricing only in Fujairah by plus $ 31. In all other ports, according to the MABUX MBP / DBP Index, MGO LS was underestimated: in Rotterdam - minus $ 39, in Singapore - minus $ 20 and in Houston - minus 1.

    Research made by FuelTrust has revealed that the energy density of different batches of the same bunker fuel can vary by up to 3%, offering buyers the opportunity to reap cost savings when purchasing bunkers. FuelTrust analysed 14 million barrels of very low sulphur fuel oil (VLSFO) across 28 batches and found that different batches could provide higher energy. For a fully laden Panamax container ship, for example, this could equate to a 50 metric tonne (mt) saving of fuel on a voyage from Vancouver, Canada to Portsmouth in the UK, or the equivalent of up to 469 nautical miles of additional sailing distance. FuelTrust’s research also indicates that differences in energy intensity will be matched by differences in emissions, and this could also have a financial impact in light of the proposed introduction of carbon taxes and emissions trading schemes.

    Source: www.mabux.com

2021 December 4

15:21 MOL and Flotation Energy to explore offshore floating wind in Japan
14:51 Sembcorp Marine's LMG Marin to design world’s first zero-emission fuel tanker
13:09 USCG, royal Turks and Caicos Islands Police Force sign MOU
12:34 The Hurtigruten terminal has been renamed Jektevik terminal
11:02 Port of Rotterdam Authority embarks on partnerships with three promising maritime companies

2021 December 3

18:26 Hydrographic Company set to establish Center of Engineering and Technical Expertise
18:07 ABP Humber complete oil spill incident management exercise
17:52 Wärtsilä OPTI-DP Engagement Tool supporting the marine industry to configure optimised propulsion arrangements for DP vessels
17:45 Ocean Network Express conducts a joint crisis management drill with Seaspan Corporation
17:40 Transport Strategy of Russia until 2030 with forecast until 2035 published on official portal
17:22 MSC adds Hamburg to its feeder service „Baltic Loop 3“
17:02 Vyborg Shipyard launches KMT01 trawler named Kara Sea
16:32 South African minister visits Port of Rotterdam to discuss hydrogen exports
16:05 PD Ports contracts Konecranes to convert four RTGs to electric
15:31 Four Jones Act CTVs built to ABS Class to support U.S. offshore wind development
15:17 ABS, NYK, MTI and WinGD team-up to verify design with modeling and simulation
14:03 Jurong Port joins the Castor Initiative
13:30 ABS awards sustainability notations to two Harvey Gulf vessels
13:04 Kapitan Dranitsyn and Admiral Makarov icebreakers reinforced icebreaker group on NSR
12:57 Royal IHC delivers key components for “R.B. Weeks” to Weeks Marine
12:42 Icebreaker assistance season begins in White Sea waters
12:17 Sailing practice of 2021 on Mir sailing ship successfully completed
11:21 NCSP Group's consolidated revenue for 9M’2021 rose by 9.3%
10:53 Foreign contractors can be involved to build LNG-powered icebreakers for Arctic
10:38 MABUX: Bunker prices may demonstrate multidirectional changes with tendency to grow on Dec 3
10:29 The Korean Register publishes guidance for containers loading on bulk carriers
10:20 MSU-1 to perform reconstruction of Gorodetsky hydrosystem locks
09:57 Annual repair dredging in Gulf of Ob from 2023 estimated at 5 million cbm
09:35 Crude oil prices rise on OPEC+ decision to keep oil output increase in January
09:18 Baltic Dry Index as of December 2

2021 December 2

18:36 NRP buys handysize drybulk carrier
18:06 2M Alliance’s Far East liner service „AE 7/Condor“ calls at Hamburg again
17:54 Icebreaker assistance season starts in Big Port St. Petersburg on December 7
17:36 Vitol is first customer to approve completely digital inspection of cargo tanks
17:15 BIMCO launches new contract for employment of security escort vessels
16:45 GTT will design the tanks of four new LNG carriers ordered by Daewoo Shipbuilding & Marine Engineering to operate in Arctic waters
16:25 MOL announces delivery of next-generation coal carrier 'EeneX' series
16:05 PSA & ONE launch environmentally friendly barge service at Jurong Island Terminal
15:42 “K” Line conducts trial use of marine biofuel for decarbonization on car carrier
15:38 Wärtsilä wins order to supply cargo handling system for second LNG bunker vessel being built by Fincantieri Bay Shipbuilding
15:23 Verifavia launches industry’s first real-time carbon intensity indicator dashboard
14:55 Two more LK-60 icebreakers needed for regular year-round navigation on Northern Sea Route
14:28 Equinor and SSE reach financial close on the third phase of the world's biggest offshore wind farm
14:04 Nuclear-powered icebreaker Sibir to commence operation in Kara Sea in early January 2022 – Vyacheslav Ruksha
13:42 MABUX: Bunker Weekly Outlook, Week 48, 2021
13:02 European shipowners call for further action in the Gulf of Guinea
12:40 Rolls-Royce to supply eight mtu engines for new Svitzer tugs in Brazil
12:01 Throughput of Azov port in 11M’2021 climbed by 1% YoY
12:00 NORDEN simplifies business unit structure
11:36 Norway’s Eksfin tops NOK 10bn in offshore wind financing as Dogger Bank C reaches financial close
11:34 Annual throughput of Severnaya Zvezda project on Taimyr peninsula to exceed 7 million tonnes from 2026
11:10 MABUX: Uncertainty on Global bunker market to continue on Dec 02
10:00 Digital Twin Conference 2022 to be held virtually on 11-12 May 2022
09:33 Crude oil prices are rising in expectation of OPEC+ meeting
09:19 Baltic Dry Index as of December 1

2021 December 1

19:15 PortNews to hold Ship Repair, Modernization and Components Conference on 20 September 2022 in Saint-Petersburg
18:31 DP World celebrates 2,000 members of the Digital Freight Alliance
18:07 CMA CGM and Shell perform first Bio-LNG bunkering operation in Rotterdam
17:42 8 new fuel-efficient ships to join the X-Press Feeders fleet
17:26 Danish Smyril Lines Cargo starts second service between Iceland, the Faroe Islands and Rotterdam