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  • MABUX: Bunker Weekly Outlook, Week 49, 2021
  • 2021 December 9 13:35

    MABUX: Bunker Weekly Outlook, Week 49, 2021

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

    On a Week 49, the MABUX World Bunker Index resumed correctional upward trend. Index 380 HSFO increased by 12.61 USD: from 463.91 USD / MT to 476.52 USD / MT. The VLSFO index rose by 14.72 USD: from 598.93 USD / MT to 613.65 USD / MT, while the MGO index added 17.28 USD (from 708.14 USD / MT to 725.42 USD / MT).

    The weekly average Global Scrubber Spread (SS) - the difference in price between 380 HSFO and VLSFO - rose by $ 2.10 ($ 136.61 versus $ 134.51 last week). At the same time, the average weekly SS Spread in Rotterdam reached $ 138.17 vs. $ 135.50 (plus $ 2.67). However, the fastest growing weekly average SS Spread was registered in Singapore - by $ 14.50 to $ 188.17 versus $ 173.67 last week. The gradual recovery of the global bunker market has returned the trend of widening price spread between major bunker fuels. More information is available in the Differentials section of the www.mabux.com website.

    Expectations of milder weather in many parts of Europe this week, as well as stable pipeline gas supply from Russia and more LNG cargoes set to arrive in the region, have dragged down the key natural gas prices in recent days. As a result, the price of LNG as a marine fuel at the port of Sines (Portugal) on December 6 decreased by 241 USD and reached 2155 USD / MT (vs. 2396 USD / MT a week ago). The LNG price exceeds the price of MGO LS in the port by 1481 USD (664 USD / MT as of 06.12), which still leaves LNG unattractive for the shipowners planning to switch to alternative bunker fuels.

    On a Week 49, there were significant changes in the correlation between the MABUX MBP Index (Market Bunker Prices) and the MABUX DBP Index (MABUX Digital Bunker Price benchmark). As a result, all fuel grades showed fairly high overcharge margins in almost all four world largest hubs. In particular, 380 HSFO fuel was overvalued in three out of four ports: in Rotterdam - plus $ 1, in Fujairah - plus $ 10 and in Houston - plus $ 49. The only port where the MABUX MBP / DBP Index continues to register underpricing is Singapore - minus $ 5.

    VLSFO fuel grade, according to the MABUX MBP / DBP Index, was significantly overpriced in all selected ports: plus $ 33 in Rotterdam, plus $ 83 in Singapore, plus $ 67 in Fujairah and plus $ 30 in Houston. While in Fujairah and Houston, the overpricing ratio increased by 12 and plus 9 points, respectively, in Rotterdam the Index surged by 24 points and in Singapore - by 27 points.

    Regarding MGO LS, the MABUX MBP / DBP Index recorded an overcharge of this fuel grade in two out of four ports selected: in Fujairah - plus $ 52 and in Houston - plus $ 20. In all other ports, MGO LS grade was underestimated: in Rotterdam - minus $ 42 and in Singapore - minus $ 14. The most significant change was the increase in the overcharge ratio in Fujairah by 21 points.

    Marine fuel volumes at the Port of Rotterdam in Q3 2021 increased by 9.8% year-on-year to reach 2.44 million metric tonnes (mt), with sales of high sulphur fuel oil (HSFO) showing a strong 15.8% y-o-y rise. In total, sales of conventional bunker fuel (HSFO/MGO/MDO) grew by 4.1% quarter-on-quarter, while sales for the first nine months of 2021 totalled 5.75 million mt, a 4.1% upswing on the same period last year. LNG volumes continue to show strong and consistent growth, with sales of 213,250 cubic metres (cbm) in Q3, a 35.8% quarterly rise and a 338.5% y-o-y increase. Sales of LNG for Q3 alone also exceeded sales for the whole of 2020 by some 2,919 cbm. Meantime, no sales of methanol were recorded during Q3. In Q2, a single 250 mt stem of this bunker fuel was registered.

    Source: www.mabux.com




2022 January 22

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10:54 Indian Register of Shipping strengthens focus on safety of Inland Waterways

2022 January 21

19:15 PortNews’ week updates and insights summary
18:20 More than 600 boxships stay off ports waiting for berth space, Seaexplorer disruption indicator shows
18:07 Green Innovation Fund adopts joint project on “Mass-production and Cost Reduction of Floating Offshore Wind Installation”
17:44 The new Stena Baltica has debuted on Stena Line’s Baltic Sea route from Ventspils to Nynäshamn
17:16 Port of Los Angeles breaks cargo record in 2021
17:06 Finnlines strengthens Germany-Sweden route with a fourth ship
16:36 Maersk opens its logistics center for South Western Europe at port of Barcelona
16:03 Dublin Port sees a small reduction in volumes in 2021
15:24 Kongsberg Digital joins the NorthWind project to develop digital twin technology for offshore wind
14:03 ClassNK issues Approval in Principle for ammonia-fueled Panamax bulk carrier developed by Planning and Design Center for Greener Ships (GSC)
14:02 TGE Marine announces completion of largest LNG Bi-Lobe Type C Tanks
13:23 Samskip adds 150 new sustainable reefer containers to its fleet
13:01 Icebreakers remain busy assisting shipping of the Gulf of Finland eastern part
12:13 Freight volumes increase at the Port of Gothenburg in 2021
12:12 Nippon Paint Marine’s new fastar antifouling earmarked for Cosco Shipping VLCC fleet
11:42 RZD invested heavily in its rolling stock upgrade in 2021
11:31 DP World launches a premium barge service between the Upper Rhine region and Rotterdam World Gateway
11:03 Israel orders three new submarines from thyssenkrupp Marine Systems
10:31 Port of Oakland import volume hit new record in 2021
10:11 Crude oil prices drop on US oil reserves growth
09:32 MABUX: Global bunker prices may slide down on Jan. 21
09:21 Baltic Dry Index as of Jan 20

2022 January 20

18:35 EuroDry announces agreement to acquire a 2014-built Supramax bulker
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17:15 The U.S. Army gets $22.81 billion in supplemental funding of studies, projects and programs
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16:50 Cargo traffic on IWW of Russia in 2021 rose by 1.2% to 110.3 million tonnes
16:35 Uber Boat by Thames Clippers builds the UK’s first hybrid high speed passenger ferries
16:15 American Cruise Lines unveils Project Blue
16:05 TGE Marine announces the completion of the tank building phase for two large LNG cargo tanks
15:31 Hafnia plans to acquire 12 modern LR1 tankers
15:25 Holland Shipyards Group develops new tug EDDY 24-50 E
15:05 ZIM announces new chartering agreement for three 7,000 TEU LNG dual-fuel container vessels
14:40 Exports of LNG and gas condensate from port Sabetta exceeded 19 million tonnes in 2021
14:11 Stena Line and Associated British Ports sign £100M deal for new ferry terminal at the Port of Immingham
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11:51 Port of Long Beach sets annual record with 9.38 million TEUs
10:46 Global Ports' consolidated marine container throughput increased by 2.8% y-o-y in 2021
10:10 Increase of cargo predicted for the Port of Riga this year
09:33 MABUX: Global bunker prices may turn over downward correction in the end of the day
09:25 Crude oil market sees downward price correction
09:08 Baltic Dry Index as of January 19

2022 January 19

18:20 New SGMF publication provides expansive and highly relevant guidelines on safe bunkering of LNG
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