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  • 2022 September 30 08:34

    MABUX: Bunker Weekly Outlook, Week 39, 2022

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

    Over the Week 38, MABUX global bunker indices continued moderate sliding downward. The 380 HSFO index fell by another 22.39 USD: from 518.76USD/MT last week to 496.37 USD/MT. The VLSFO index, in turn, fell by 37.03 USD: from 785.84 USD/MT to 748.81 USD/MT. The MGO index lost 39.70 USD (from 1114.70 USD/MT to 1075.00 USD/MT) and crossed the 1100 USD mark.

    The Global Scrubber Spread (SS) weekly average - the price differential between 380 HSFO and VLSFO –declined over the Week 39 - minus $8.43 ($258.21 vs. $266.64 last week). In Rotterdam, the average SS Spread continued to decline: $214.33 vs. $241.00 (down $26.67). In Singapore, the average weekly price differential of 380 HSFO/VLSFO also decreased – by minus $2.50 ($284.33 vs. $286.83 last week). The indicators of the Global SS Spread and the values of SS Spread in the largest hubs are still very close to each other. More information is available in the Price Differences section of mabux.com.

    Three unexplained gas leaks detected on September 26 in the Nord Stream 1 and 2 pipelines from Russia to Germany have prompted the European Union and Russia to point at sabotage. On September 29 Sweden's coastguard said it had discovered a fourth gas. It means that the link, which has been shut over the past month, won’t bring any fuel to Europe for a long time. Price for LNG as a bunker fuel at the port of Sines (Portugal) fell on September 26 by another 733 USD/MT to 2591.00 USD/MT (versus 3324 USD/MT a week earlier).  Spread between LNG price and price for MGO is now reduced: LNG prices are about 2.5 times higher than the most expensive type of traditional bunker fuel: the price of MGO LS at the port of Sines was quoted on September 28 at 1062.00 USD/MT.

    Over the Week 39, the MDI index (comparison of MABUX MBP Index (market bunker prices) vs MABUX DBP Index (MABUX digital bunker benchmark)) showed an underpricing of 380 HSFO fuel grade in all four selected ports. The underestimation margins declined during the week in all port except of Houston and amounted for: Rotterdam - minus $91, Singapore - minus $144, Fujairah - minus $141 and Houston - minus $64.

    VLSFO fuel grade, according to MDI, remained, overpriced in all selected ports: plus $8 in Rotterdam, plus $51 in Singapore, plus $60 in Fujairah and plus $48 in Houston. In this fuel segment, the MDI index still does not have any firm dynamics: the overprice premium in up in most of selected port.

    In the MGO LS segment, MDI registered underpricing in three ports out of four selected over the Week 39: Rotterdam – minus $37, in Singapore – minus $87, and Houston – minus $1. MGO LS fuel remained overvalued in Fujairah - plus $ 198. MDI level decreased for all selected ports.

    The meeting of the IMO’s Sub-Committee on Carriage of Cargoes and Containers (CCC 8), held on 14-23 September, agreed guidelines for LPG as a marine fuel and also progressed the discussion on hydrogen and ammonia. A working group at the Sub-Committee has also further developed draft interim guidelines for ships using hydrogen as fuel and initiated discussion on the development of interim guidelines for the safety of ships using ammonia as fuel. At this week’s meeting, the Sub-Committee also invited interested member states and international organizations to develop guidance for LPG bunkering to assist crews, bunker suppliers and ports in delivering LPG fuel to ships.

    The global bunker market is still in a state of high volatility. We expect that downward trend may continue in Global bunker market.

    By Anastasia Pervova, Marketing analytic, MABUX

2022 December 9

12:45 FuelEU Maritime can do more to accelerate early action for shipping decarbonisation - World Shipping Council
12:44 Norebo to have Arctic krill vessel built abroad
12:19 MacGregor receives two large orders for heavy-duty cranes and electric transloading cranes
11:35 ZIM starts new feeder service between Poti Port and Istanbul
11:30 Russia’s largest floating dock arrives at Shipbuilding Complex Zvezda
10:58 DP World and Puntland Government sign construction agreement to upgrade Port of Bosaso
10:21 Transocean announces $1.04 bln in contract awards for two ultra-deepwater drillships
10:06 Programme for construction of ships under Baimsky GOK project to be approved in mid-2023
10:01 Maersk Tankers’ Intermediate pool attracts new partner
09:45 Prosafe signs contract with Petrobras for the provision of the Safe Zephyrus semi-submersible vessel
09:28 RF Government allocates RUB 37.7 billion for the comprehensive development of Murmansk Transport Hub

2022 December 8

18:37 Port of Melbourne reaches next stage in remediation of Swanson Dock West
18:07 APM Terminals in Nigeria announces management changes
18:00 Contracts for construction of 5th and 6th icebreakers of Project 22220 may be signed in December 2022 – Vyacheslav Ruksha
17:44 Hyundai Heavy Industries to develop ammonia FSRU - BusinessKorea
17:39 Academy of Industry Markets welcomes to LNG Market online course
17:34 CMA CGM may double methanol-fuelled boxship order - Ship & Bunker
17:22 Stockholm Norvik Port starts new train service
17:16 Freeport of Ventspils cargo turnover in 11M'2022 increased by 32% YoY to 13.3 million tonnes
16:50 NSR fleet of icebreakers to number 17 units by 2030 and 22 units by 2035 – Vyacheslav Ruksha
16:47 Terminal operators upgrade rail-shortsea connection at Rotterdam
16:27 Plan for NSR development until 2035 foresees creation of container shipping fleet numbering 9 containerships of Russian transit operator
16:05 OOCL presents 2023 OCEAN Alliance products
15:28 Oil tankers with P&I club insurance piled up at The Bosphorus Strait
15:25 Oboronlogistics to continue acting as cargo agent for two ferries operating on Ust-Luga-Baltiysk line
14:46 Total dividends paid by CPC-R this year to exceed RUB 66 billion
14:23 TAQA, ADNOC, and Mubadala complete transaction for stake in Masdar Clean Energy Powerhouse
14:03 BCG and ABS combine expertise to support marine and offshore decarbonization
13:43 Tallink takes delivery of ferry MyStar
13:28 SCZONE signs 7 MoUs for green fuel production
13:02 Shekou Container Terminals implements Portchain Connect
12:43 Equinor wins commercial-scale offshore wind lease in California
12:31 MABUX: Bunker Weekly Outlook, Week 49, 2022
11:58 Sevmorput is about to complete its second subsidized voyage from the Far East to Saint-Petersburg with 46-pct loading
10:55 Eurochem is ready to transfer its ammonia shipment terminal from Estonia to Russia
10:09 INTERCARGO issues statement on IMO decarbonisation measures
09:42 ADNOC creates Low Carbon Solutions & International Growth vertical
09:30 New anchorage in Ust-Luga seaport is intended for ship-to-ship transshipment of fuel
09:22 AD Ports signs collaboration agreement with Africa Finance Corporation
08:27 CMA CGM to upgrade its Zanzibar Feeder service

2022 December 7

18:27 SBTi launches world-first roadmap for net-zero shipping by 2040
18:09 IPEM expects Russian Railways' network loading to fall by 4% this year
17:44 NYK conducts successful demonstration of new cargo hold monitoring system featuring IoT sensors
17:23 Sempra Infrastructure announces agreement with ENGIE for supply of U.S. LNG from Port Arthur LNG Phase 1
17:16 ASOP expects throughput of Russian seaports to grow by 3-5% in 2023
16:47 The major shipping lines post an operating profit of USD 122bn in Jan-Sept 2022 - Sea-Intelligence
16:30 Market players report idle time of ships in the Far East ports of Russia of up to three months
15:45 Oil exports from Russia in the first 11 months of 2022 increased by +11.2% to 199.4 mln tonnes
15:33 Throughput of Murmansk Sea Fish Port in November 2022 rose 1.8 times YoY
14:45 LR certifies DriX uncrewed surface vessel
14:31 Trade turnover between Russia and China in 11M’22 rose by 32% YoY to $172.41 billion
14:02 Russian coal exports up after EU loosens curbs - Bloomberg
13:34 GPA approves a plan to renovate the docks at the Port of Savannah’s Ocean Terminal
13:29 Container traffic on Russian Railways’ internal network in 11M’2022 rose by 3.4% YoY
13:04 OSR plan approved based on drill results in CPC Marine Terminal water area
12:40 Bunker sales at Vladivostok port in 11M’2022 fell by 25% YoY
12:17 Number of containers with Chinese goods delivered to Saint-Petersburg surged 12 times this year
12:13 Charleston Harbor becomes the deepest harbor on the U.S. East Coast at 52 feet
11:58 Dynamar forecasts that perishable export volumes to fall slightly in 2022
11:31 Viking Line chooses Finnish flag for Viking XPRS