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Friday, 08 July 22
BUNKER PRICES EXPECTED TO RECOVER LOST GROUND NEXT WEEK - SERGEY IVANOV, MABUX
 Over the Week 27, the world bunker indices showed a sharp decline, primarily due to the fall in oil prices on July 05. The 380 HSFO index fell by 52.10 USD: from 734.52 USD/MT to 682.42 USD/MT. The VLSFO index, in turn, decreased by 33.17 USD: from 1069.54 USD/MT to 1036.37 USD/MT. The MGO Index suffered the most significant losses: minus 80.29 USD (from 1378.31 USD/MT to 1298.02 USD/MT), dropping below 1300 USD.
Despite the decline in fuel prices, the Global Scrubber Spread (SS) weekly average – the price difference between 380 HSFO and VLSFO – continued to increase over the week – plus $ 14.70 ($ 348.90 vs. $ 334.20 last week). In Rotterdam, the average SS Spread also rose: $324.50 vs. $307.00 (up $17.50 from last week). The most significant growth in the average weekly 380 HSFO/VLSFO price difference was registered in Singapore: plus $ 51.67, breaking the $ 500 mark: $ 541.50 versus $ 489.83 last week. For more information, please visit the Price Difference section on mabux.com.
Tight supply and energy security uncertainty pushed natural gas prices to record highs over the week. The price of LNG as bunker fuel in the port of Sines (Portugal) rose on July 4 by 193 USD, exceeding 3000 USD mark: 3156 USD/MT (versus 2963 USD/MT a week earlier). LNG prices are more than double those of traditional bunker fuels: MGO LS at the port of Sines was quoted on July 06 at 1426 USD/MT.
Over the Week 27, the MDI index (comparison of MABUX MBP Index (market bunker prices) vs MABUX DBP Index (MABUX digital bunker benchmark)) continued to register an underestimation of 380 HSFO fuel in three out of four ports selected: Rotterdam – minus $ 72, Singapore – minus $ 105 and Fujairah – minus $71. Houston remains the only overpriced port – plus $ 20. The underprice premium rose in all three ports. In Houston, the overcharge margin continued to decline, approaching 100-percent correlation’s mark.
VLSFO fuel grade, according to MDI, remained overpriced in all four selected ports: plus $75 in Rotterdam, plus $261 in Singapore, plus $281 in Fujairah and plus $66 in Houston. Here, the MDI index did not have a firm trend: the overprice premium increased in Rotterdam, Singapore and Fujairah, but decreased in Houston. VLSFO fuel remains the most overvalued segment in the global bunker market.
As for MGO LS grade, MDI registered an overcharge of this fuel in all selected ports: in Rotterdam – plus $ 20, in Singapore – plus $ 29, in Fujairah – plus $ 223 and in Houston – plus $ 112. The most significant changes were in Fujairah – plus 76 points and Houston – plus 63 points. In Rotterdam and Singapore, over the week, overcharge premium decreased, while in Fujairah and Houston it rose.
DNV reported there were just six vessels added to DNV’s database in June but in spite of a quiet month for contracting, Q2 2022 was the strongest ever quarter for LNG-fuelled tonnage orders, with 83 vessels added to the tally. Meantime, while six orders were placed last month, an adjustment to a previously reported containership booking meant that net growth in June was actually only two additional vessels. Looking ahead to the next few months, however, the LNG bunkering market looks set to witness a ‘ketchup-bottle effect’, with LOIs in the pipeline and reports of ‘numerous’ container vessel and car carrier orders. DNV also highlighted growing momentum in methanol-fuelled vessel orders, with two offshore construction vessels added to its database in June.
We expect next week the global bunker market to pass into upward correction after a sharp fall this week.
Source: By Sergey Ivanov, Director, MABUX
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Wednesday, 29 June 22
LNG MARKET REMAINS TIGHT - INTERMODAL
LNG market remains tight currently, mainly driven by the US LNG outage from the recent fire in Freeport LNG terminal together with the recent fall ...
Wednesday, 29 June 22
CHINA'S NEW PLAN FOR RENEWABLE ENERGY DEVELOPMENT FOCUSES ON CONSUMPTION - FITCH RATINGS
China’s focus on consumption penetration for renewable energy development in its recently released 14th five-year plan – 2021 to 2025 & ...
Wednesday, 29 June 22
APAC CORPORATE SECTOR OUTLOOKS SHIFT AMID GLOBAL SHOCKS - FITCH RATINGS’
Fitch Ratings’ mid-2022 corporate sector outlook review revealed that the Asia-Pacific (APAC) region saw the largest number of sector outlook ...
Thursday, 16 June 22
MARKET INSIGHT - INTERMODAL
Picking up from my last insight in March, on the early days of the invasion, it's worth pointing out the way that the fast-paced working enviro ...
Saturday, 11 June 22
AIMTEK INTERNATIONAL CONFERENCE AND AWARDS
Press Release: The prestigious AIMTEK International Conference and Awards concluded successfully on June 7th, 2022 at Radisson Blu, Yas Island Abu ...
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- Oldendorff Carriers - Singapore
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- Global Business Power Corporation, Philippines
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- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
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- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Bhatia International Limited - India
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- The Treasury - Australian Government
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- IEA Clean Coal Centre - UK
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- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
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- Chamber of Mines of South Africa
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- San Jose City I Power Corp, Philippines
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- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Georgia Ports Authority, United States
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- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
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- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
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- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
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- Planning Commission, India
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Kumho Petrochemical, South Korea
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