9.5 C
Thursday, November 26, 2020
Home The Weekly MABUX Bunker Index Fuel demand slow recovery wakes bunker market

Fuel demand slow recovery wakes bunker market

Fuel demand around the world is recovering as lockdowns ease, according to MABUX with the World Bunker Index showing an uptrend in June for all major types of bunker fuel.

Prices have risen fairly evenly, demonstrating a gradual recovery in demand on the global fuel market. The 380 HSFO index rose from US$254/tonne to US$288/tonne, VLSFO from US$295/tonne to US$342/tonne and MGO from US$371/tonne to US$415/tonne.

The spread between 380 HSFOs and VLSFOs (the so-called Scrubber Spread [SS]) averaged US$48.95 in June, which shows a slight rise, "but it is still not enough to stimulate the process of scrubbers installation," said a MABUX spokesperson.

In the first half of the year world bunker indices showed a firm decline until the end of April, however, from May there has been a gradual stabilisation of the market, and world bunker prices have entered a phase of moderate upward trend.

Meantime, it is still difficult to justify significant upside in bunker prices in the near term due to the high levels of inventory, demand slow recovery and the fear over a severe second wave of Covid-19. All-in-all, it looks like global bunker market will continue to consolidate around current levels.

Meanwhile, the Italian marine fuel supplier Bunker Energy is seeking to expand in Italy after one of its affiliates merged with another barge operator, according to Ship & Bunker. In particular, barge operators Anapo and Rimorchiatoria have agreed to join forces and trade under the new name Maritime Bunkers, stated Bunker Energy.

- Advertisment -Port Montreal advertisment
- Advertisment - LR Sustainability Decarbonisation Digital Adverts

Latest Posts

Titan offers a window to LNG power

Liquified natural gas (LNG) supplier Titan LNG has launched a price overview of LNG as a marine fuel looking at prices in the key...

Klinge Corp plans to ramp up reefer production

US based reefer container specialist the Klinge Corporation to ramp up production as demand for specialist low temperature containers is expected to grow with...

Stevedore’s action in Bilbao inflates APMT Gijon container traffic

A dockers strike in the Port of Bilbao has caused a significant increase in volumes that APM Terminals Gijon receives, exceeding its capacity and...

NWSA to open its upgraded container terminal in the next year

The Port of Seattle will complete the first phase of a modernised international maritime shipping facility at Terminal 5, a project funded jointly by...

Updated: Grounded vessel in Suez Canal refloated

Hapag-Lloyd confirmed that the Al-Muraykh ran aground this morning in the SUez Canal while on, however the vessel has now been refloated and the...

We have introduced a voluntary registration system which will help us to understand our customers better and offer them an improved service.

From 1 January, 2021 registration will be required but news content access will remain free of charge.