During the first two weeks of 2021, world bunker indices continued their moderate upward trend, according to Marine Bunker Exchange (MABUX).
[s2If is_user_logged_in()]Meantime, the most critical unknowns for the bunker market are still the coronavirus pandemic, the rate and effectiveness of vaccinations that have begun around the world, and how quickly this process will allow the global economy to recover.
The World Bunker Index MABUX has retained its firm upward evolution over the past week with the 380 HSFO index rose to US$366.94/mt, VLSFO increased to US$460/mt while MGO climbed to US$514.26/mt.
In addition, the Global Scrubber Spread (SS) (price difference between 380 HSFOs and VLSFOs) also demonstrated a slight widening trend, as it increased US$2 and averaged US$88.56.
The spread in Rotterdam has fluctuated during the week in a range of US$68-79, compared to US$53 in October 2020. At the same time, the average value of the spread for the week has decreased to US$75. In Singapore, the spread rose during the week by US$14 to US$104, while average weekly spread gained US$2, reaching US$95.
The correlation of MBP Index (Market Bunker Prices) vs DBP Index (Digital Bunker Prices) in the four global largest hubs over the past week showed that 380 HSFO fuel remains undervalued slightly in Rotterdam, Singapore and, for the first time, in Fujairah, and is still being overcharged in Houston.
VLSFO fuel, according to DBP Index, was slightly overpriced in all selected ports ranging from +US$3 inRotterdam to+US$27 in Houston, except in Singapore (-US$2).
DBP Index also showed that MGO LS was undervalued in all ports ranging from -US$12 in Rotterdam to -US$28 in Singapore, with the exception of Houston (+US$13).
The UK government, through the UK Space Agency, is to fund a project that will use satellite analytics to track greenhouse gas and pollution emissions of shipping fleets with a new approach to establish emission audits of fleets and their individual vessels. MABUX said the project builds upon previous work developing analytics solutions for ports and harbours, extending this to coastal and international waters.
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