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  • 2022 March 17 15:52

    MABUX: Bunker Weekly Outlook, Week 11, 2022

    The Bunker Review was contributed by Marine Bunker Exchange (MABUX)

    The progress in Russia-Ukrainian talks eased concerns of a possible shortage on the bunker market and pushed the prices down on a Week 11. The 380 HSFO Index fell by 75.93 USD: from 761.79 USD/MT to 685.86 USD/MT. The VLSFO Index declined by 136.70 USD: from 1032.68 USD/MT to 895.98 USD/MT. The MGO index showed the most significant decrease: by 159.01 USD (from 1270.94 USD/MT to 1111.93 USD/MT). Bunker indices continue demonstrating high volatility.

    The Global Scrubber Spread (SS) weekly average - the difference in price between 380 HSFO and VLSFO – didn’t show significant changes over the week: plus $0.09 ($238.00 vs. $237.91 last week). On March 16 Global SS Spread declined from $270.89 to $210.12 (down by $60.77). In Rotterdam, the SS Spread weekly average rose from $222.17 to $267.67 (up $45.50 from last week). On March 16, SS Spread in Rotterdam showed $ 260.00 (down $29 from last week). In Singapore, the average SS Spread declined: minus $17.66 from $278.84 to $261.17. More information is available in the Price Differences section of mabux.com.

    Over the Week 11, the average correlation of MABUX MBP Index (market bunker prices) vs MABUX DBP Index (MABUX digital bunker benchmark) showed that 380 HSFO fuel was overpriced at three out of four selected ports: in Rotterdam - plus $50, in Singapore – plus $58 and in Houston - plus $95. In Fujairah, the MABUX MBP/DBP Index registered 380 HSFO’s underpricing by minus $1. The most significant changes were registered in Singapore where the undercharge level increased by 81 points and this fuel grade became overcharged.

    VLSFO fuel grade, according to the MABUX MBP/DBP Index, remains overpriced in all selected ports: plus $144 in Rotterdam, plus $93 in Singapore, plus $117 in Fujairah and plus $100 in Houston. The most weekly significant was the rise of VLSFO’s overcharge margin at the port of Rotterdam (by 94 points) and Houston (by 93 points).

    As for MGO LS, the MABUX MBP/DBP Index recorded an overpricing of this fuel grade in three of the four selected ports: in Rotterdam - by plus $29, in Fujairah - by plus $40 and in Houston – by plus $189. The only underpriced port, according to the MABUX MBP/DBP Index, was Singapore - minus $ 30. The most significant change was a sharp increase of the underprice ratio in Fujairah (by 154 points) and the increase of overcharge level in Houston (by 165 points).

    Bunker fuel sales in Singapore slipped 13.2% on the month, or 15% lower on the year, to 3.502 million mt in February, according to preliminary data by the Maritime and Port Authority of Singapore March 13. Sales of all bunker grades in February marked double-digit declines from the previous month, the MPA data also showed, amid relatively subdued demand. Sales of the International Maritime Organization-compliant grades, which include 100 CST, 180 CST, 380 CST and 500 CST bunker fuel, slipped 10.7% on the month to 2.287 million mt in February, lowest monthly sales since the IMO2020 mandate was instated.

    The tensions between Russia and Ukraine continues to be the main driver in the global bunker market. We expect bunker prices may rise next week.

    By Anastasia Pervova, MABUX

2022 June 27

18:07 Boskalis vessels switch to green shore power facility in Rotterdam in co-development with Port of Rotterdam Authority and Eneco
17:58 Rosmorport provides continuous ferry traffic on the Ust-Luga - Baltiysk line
17:30 FSRU contract Höegh LNG with AIE in Australia confirmed
17:02 Investigation into ammonia leak on Spanish tuna vessel begins in Seychelles - Seychelles News Agency
16:27 World’s first climate-neutral container handling facility recertified
15:58 Russia, India, China, Brazil and RSA to sign agreement on cooperation in customs area
15:45 Inmarsat and Thetius report explores human element in maritime digitalisation
15:45 Asia coal prices hit record on hot global competition for fuel - Bloomberg
15:21 Vestdavit to deliver telescopic davit for Danish Navy
14:27 Nuclear-powered container ship Sevmorput leaves for its first subsidized coastwise voyage to Petropavlovsk-Kamchatsky
14:06 Bureau Veritas completes new study on ammonia as fuel
14:02 BW LPG completes dual-fuel retrofits
13:33 Hydrographic Company holds tender for dredging of Utrenny terminal’s water area
13:15 Nakilat and Keppel to provide after-sales technical support for ballast water treatment systems in Qatar
12:30 Matson signs contract for ME-GI retrofit
12:14 International taskforce established to drive forward the development of Clean Energy Marine Hubs
12:01 Port Tanjung Pelepas turns to AI-powered management system
11:29 Seanergy Maritime acquires a modern Capesize vessel
11:02 Chernomorneftegaz platform in Black Sea shelled by Ukrainian troops
10:29 Sevmash lays down manned underwater vehicle of Project 03660 Jason
10:29 Dongwon Global Terminal selects CyberLogitec’s terminal operating system
10:03 The Getting to Zero Coalition convenes to develop action plan for maritime decarbonization
09:43 Metal structures and general cargo to be delivered by MV Kholmogory on its first voyage to Kaliningrad Region
09:21 Oil prices decrease after a growth on June 24
08:58 MABUX: Bunker prices may increase on June 27

2022 June 26

15:18 BW LPG carriers completed DF retrofits at Yiu Lian Dockyards in Shenzhen, China
13:42 Aegean Shipping accepts delivery of its first of four Aframax tankers
12:14 Large-scale offshore tender sets TenneT on course to deliver 2030 offshore expansion targets
11:03 KHI delivers bulk carrier PHILHOKUSAI

2022 June 25

15:07 The Getting to Zero Coalition convenes to develop action plan for maritime decarbonization
14:31 Manor Marine to build two Hybrid CTVs for Manor Renewable Energy with Chartwell Marine
13:04 ČEZ Group becomes first Czech company to have climate targets validated
10:13 FSL Trust agrees to sell one chemical tanker

2022 June 24

18:37 OneSea Energy B.V. and Subsea 7 conclude an MOU on collaboration in offshore hydrogen production
18:06 HJSC wins a bid to build two dual-fuel LNG 7,700 TEU-class container ships
17:57 PortNews’ week headlines summary
17:06 MOL, Tsuneishi Shipbuilding and Mitsui E&S Shipbuilding start joint development on net zero emission ammonia-fueled ocean-going liquefied gas carrier
16:51 Samsung Heavy Industries lands orders for 14 LNG carriers - Businesskorea
16:01 Expert says Russia’s Far Eastern seaports set for handling up to 1.5 million TEUs of exports
15:46 Alicat secures £2 million contract to build further two new vessels for North Star’s renewables fleet
14:55 CMA CGM and Port Authority of Singapore sign MoU
14:30 Gazprom Dobycha Nadym to start reclamation project for the development of the Yamal’s Kruzenshternskoye field
14:03 Chevron Marine Lubricants white paper assesses future cylinder oil needs
13:21 Bureau Veritas delivers AiP to the MANTA, an innovative clean up vessel
12:42 Sea Port of St.Petersburg beefs up its crane fleet
12:35 DP World and PCFC to modernise Romania’s Constanta Port with new RO-RO terminal
12:29 Sber CIB expects oil price to hit $100 a barrel by year-end
12:09 Successful completion of CNF19M ferry "General Chernyakhovsky" sea trials
12:09 Crowley, ESVAGT strengthen venture for U.S. offshore wind vessels
11:52 Port of Corpus Christi sets new tonnage and revenue records in first four months of 2022
11:35 Samskip and Ocean Infinity secure funds to drive forward hydrogen-fuelled SeaShuttle container ship
11:33 Oil prices show weak growth, mixed changes
11:25 “Viking Saturn” floated out in Ancona
10:53 HYPORT Coordination Company signs second land reservation agreement for a green hydrogen and ammonia production plant with OPAZ
10:41 Chinese shipbuilders delivered the largest container ship ever
10:30 Baltic Enabler transferred to the WALLENIUS SOL shipping line
10:12 Wilhelmsen enters into agreement to acquire Stromme to join forces on cargo hold cleaning
08:58 MABUX: Bunker prices may demonstrate irregular changes on June 24

2022 June 23

18:35 Emanuele Grimaldi appointed ICS Chairman
17:51 Ports of Stockholm opens new quay at Frihamnen Port