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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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Thursday, 26 May 22
MARKET INSIGHT - INTERMODAL
The newbuilding market activity has been significantly positive from a dry bulk owner perspective during the first half of 2022. Indeed, the contra ...
Wednesday, 18 May 22
INDONESIAN COAL PRICE REFERENCE DROPPED 4.42% IN MAY
COALspot.com: Indonesian Coal Price Reference for May delivery drops 4.42 per cent month on month.
The Indonesian Coal Price Referen ...
Thursday, 12 May 22
MARKET INSIGHT - INTERMODAL
Almost through half of the year, the overall shipping market continues to show signs of healthiness, after plenty of festivities and holidays that ...
Wednesday, 27 April 22
EUROPEAN UNION'S LNG IMPORTS - BANCHERO COSTA
In 2021, the European Union (27) was the third largest seaborne importer of LNG in the world, with a 15.8% share.
It followed Mainla ...
Tuesday, 26 April 22
CHINA'S APPETITE FOR BAUXITE HITS NEW RECORD AS Q1 IMPORTS JUMP 15.4% Y/Y - BIMCO
Bauxite shipments arriving in China hit new record levels in the first quarter of 2022 and grew at an average annual rate of 12.8% between 2017 and ...
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- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
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