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  • 2022 October 6 13:41

    MABUX: Bunker Weekly Outlook, Week 40, 2022

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

    Over the Week 40, MABUX global bunker indices turned to upward evolution. The 380 HSFO index increased by 7.14 USD: from 495.41USD/MT last week to 502.55 USD/MT. The VLSFO index, in turn, rose by 38.46 USD: from 747.92 USD/MT to 786.38 USD/MT. The MGO index added 69.21 USD (from 1074.89 USD/MT to 1144.10 USD/MT).

    The Global Scrubber Spread (SS) weekly average - the price differential between 380 HSFO and VLSFO –increased over the Week 40 - plus $6.98 ($265.19 vs. $258.21 last week). In Rotterdam, the average SS Spread continued to decline: $203.17 vs. $214.33 (down $11.16). In Singapore, the average weekly price differential of 380 HSFO/VLSFO contrariwise, increased – by plus $10.17 ($294.50 vs. $284.33 last week). The indicators of the Global SS Spread and the values of SS Spread in the largest hubs spread out from each other. More information is available in the Price Differences section of mabux.com.

    The European Commission is considering versions of a gas price cap including a possible temporary "flexible" limit on the Dutch Title Transfer Facility price, the EU's head of energy policy said on Tuesday. Such a measure would be temporary, while the EU works on an alternative price index to the TTF. A broad price cap on wholesale gas prices comes with risks, and any market intervention would need to be coupled with measures to ensure gas demand did not rise as a result.
    Price for LNG as a bunker fuel at the port of Sines (Portugal) increased on Oct 03 by 460.00 USD/MT to 3051.00 USD/MT (versus 2591.00 USD/MT a week earlier). Spread between LNG price and price for MGO is wider again: LNG prices are more, than 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 Oct 05 at 1149.00 USD/MT.

    Over the Week 40, 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 increased during the week in all ports except of Rotterdam, where the underpricing stayed at the same level of minus $91. In other ports underestimation amounted for: Singapore - minus $147, Fujairah - minus $145 and Houston - minus $79.

    VLSFO fuel grade, according to MDI, remained, overpriced in three out of four selected ports: minus $5 in Rotterdam, plus $57 in Singapore, plus $63 in Fujairah and plus $20 in Houston. In this fuel segment, the MDI index still does not have any firm dynamics: MDI level is up in half of selected port.

    In the MGO LS segment, MDI registered underpricing in three ports out of four selected over the Week 40: Rotterdam – minus $84, in Singapore – minus $125, and Houston – minus $17. MGO LS fuel remained overvalued in Fujairah - plus $ 143. MDI level decreased for all selected ports.

    Work is to begin on the decarbonisation of the shipping corridor between Halifax, on Canada’s east coast, and Hamburg, along Germany’s northwest coast, with a focus on the development of a supply chain for green hydrogen and port infrastructure for bunkering. A Memorandum of Understanding between the two ports was signed in Hamburg on 29 September. One of the intentions of the agreement is to encourage collaboration between value chain partners, shipping lines and other interests to advance the use of green energy on the corridor. Green hydrogen would be exported from Halifax to Hamburg and the partners says they will work towards creating ‘favourable conditions for decarbonisation’, including by ‘lobbying for aligned regulatory measures, financial incentives, and safety regulations, as well as working with local communities.’

    High volatility still prevails on the global bunker market. We expect that irregular changes to continue during the next week.

    By Anastasia Pervova, Marketing analytic, MABUX

2022 December 3

15:49 Schedule reliability continues on its upwards trend - Sea-Intelligence
13:07 Concordia Maritime announces delivery of sold vessel and continued review of its fleet
11:18 Trinidad and Tobago targets 4 Mtpa green hydrogen by 2065
09:34 SITC accepts delivery of M/V “SITC CHENMING”

2022 December 2

18:25 Queues to pass through Bosporus Strait worse than past year - Lloyd's List Intelligence
18:07 e1 Marine, NAVTEK partner to develop hydrogen-powered car carrier vessel - H2 View
17:59 IAA PortNews’ summary of past week news
17:40 MacGregor introduces an electric transloading crane to complete the electric crane series
17:21 Wartsila to act as system integrator for Binary Marine Installation Solution
17:00 Nuclear-powered icebreaker Ural of Project 22220 leaves Murmansk for the first operational voyage
16:52 The ports in Szczecin and Swinoujscie cargo transshipments up by 9.4 percent in Jan-Nov 2022
16:24 GTT receives two orders from Samsung Heavy Industries for the tank design of seven new LNG сarriers
15:53 15 empty containers at Keppel Terminal in the port of Singapore fall into the water due to squall 
15:46 Krasnoye Sormovo may be contracted for building river/sea class ships for Belarussian companies
15:29 Hyundai Heavy Industries Group to present 'ocean transformation' plans at CES 2023
15:07 Demand for Eastern Polygon traffic to exceed capacity by 70-80 million tonnes after 2025 - expert
14:58 Deal to resume Russian ammonia exports via Ukraine close – Reuters
14:24 Freeport LNG delays restart target to end of year amid US regulatory hurdles - S&P Global
13:55 FSUE Rosmorport supports 6th Hydraulic Engineering and Dredging Congress as its General Partner
13:13 Giant wave kills passenger and injures four on new Viking cruise ship - TradeWinds
12:56 Aker BP’s Board approves field development projects
12:31 Waiting list for civil ship repair in Arkhangelsk Region is 2‒3.5 years long
11:52 Indian port operator orders three Generation 6 Konecranes Gottwald Mobile Harbor Cranes to electrify bulk handling
11:35 LR authorised to carry out certification activities for non-SOLAS ships in Italy
11:26 A batch of reefer containers delivered to Vladivostok Sea Fishing Port
11:03 Singapore and Netherlands accept IMO Convention amendments
10:58 Accelleron launches new all-inclusive service agreement for auxiliary engine turbochargers
10:35 Sempra announces sale and purchase agreement with INEOS for Port Arthur LNG Phase 1
09:44 Winter-spring navigation season begins on the Northern Sea Route
09:40 NYK concludes investment and strategic partnership agreements with Pertamina
09:15 Rosmorport receives new certificate of conformity of Novorossiysk VTS

2022 December 1

18:07 Plans for increased gas extraction from Oseberg approved
17:56 Court confiscates FESCO shares owned by Ziyavudin Magomedov
17:23 ClassNK issues AiP for a dual fuel generator engine using hydrogen gas as fuel
16:57 New supply chain R&D project aims to revolutionise zero-emissions shipbuilding
16:35 KSOE wins 399.9 bln-won order for 2 ethane carriers - Yonhap
16:27 Eurochem held public hearings on engineering communications project for methanol plant in Leningrad Region
15:03 Unionized workers at the three shipbuilders of Hyundai Heavy Industries to go on joint strike - BusinessKorea
14:39 Adjustment is planned for construction schedule and cost of CNF11CPD ferries for Vanino-Kholmsk line
14:15 Road access to Brazil's busiest Paranagua port cut off by landslide - Reuters
14:08 MABUX: Bunker Weekly Outlook, Week 48, 2022
14:03 Anemoi renews Rotor Sail testing base with Port of Blyth
13:36 ESL Shipping sells agency business in Sweden to GAC
13:18 Oboronlogistics’ ships start operating on Kaliningrad – Great Port of Saint-Petersburg line
13:12 ONE to launch a new weekly service between India and the UAE
12:56 A new first regular train connection launched from the Croatian port of Rijeka and Enns in Austria
11:50 Russian Railways' network loading in 11M’2022 fell by 3.6%, year-on-year, to 1.13 billion tonnes
11:42 King Abdulaziz Port welcomes first ever Grimaldi RoRo vessel
11:13 Shell signs agreement with Alfa Laval to develop a Gas Combustion Unit for hydrogen boil-off gas
10:34 Singapore accepts amendments to the International Maritime Organization Convention
10:13 Stena Line chooses Nowhere Networks's solution for 32 of its ships
09:39 Draft law on transportation of Russian cargo by domestic ship owners can be temporarily withdrawn from consideration

2022 November 30

18:11 duisport and VITRONIC present solution for automatic detection of containers
17:54 New report identifies pathway for £75bn for UK shipping's energy transition
17:37 RF Federation Council approved amendments into Federal Law regulating passage of foreign warships across NSR
17:23 A.P. Moller - Maersk opens integrated logistics park at Port Qasim in Pakistan
17:02 European shipowners welcome the provisional agreement on the EU ETS maritime
16:53 ABS launches a new maritime software company dedicated to fleet operations
16:28 WinGD becomes the first marine engine designer to gain cybersecurity type approval for its engine control system
16:06 Russian-Chinese trade may reach $160 billion by December - Federal Customs Service