14.2 C
Hamburg
Wednesday, May 18, 2022

shipsgo - container tracking platform

shipsgo - container tracking platform

Home The Weekly MABUX Bunker Index MABUX expects no firm trend in the global bunker market in the...

MABUX expects no firm trend in the global bunker market in the next weeks

The global bunker indices showed a moderate decline during the 19th week, according to the latest Marine Bunker Exchange (MABUX).

The 380 HSFO Index fell to US$722.70/mt, the VLSFO Index dropped to US$926.89/mt and the MGO Index decreased to US$1,276.79/mt.

"The market still does not have a firm trend amid persistently high volatility," said Sergey Ivanov, director at MAUX.

Meanwhile, the Global Scrubber Spread (SS) weekly average, the price difference between 380 HSFO and VLSFO, unexpectedly increased over the week for the first time in the last three weeks (US$210.47 vs. US$201.83 last week).

At the same time, in Rotterdam, the SS Spread’s average value, showed a significant decrease, falling to US$184.83.

"This is the first drop of SS Spread in Rotterdam in the last five weeks," pointed out Ivanov.

In Singapore, the average price difference of 380 HSFO/VLSFO showed growth, reaching US$121.83 with Ivanov noting that SS Spread values do not have any firm dynamics.

Furthermore, gas prices in Europe remain at record levels amid the ongoing escalation of the conflict in Ukraine and concerns about the possible ban on Russian gas imports. The price for LNG as bunker fuel in the port of Sines, Portugal on 9 May was at the level of US$2,009/mt. LNG prices are still significantly higher than those of traditional bunker fuels. The MGO LS price at the same port on 9 May was quoted at US$1,367/mt.

Over Week 19, the average correlation trend of MABUX MBP Index (market bunker prices) vs MABUX DBP Index (digital bunker benchmark) did not change. All major bunker fuel grades are in the overcharge zone in all selected ports.

Thus, 380 HSFO fuel’s overcharge margins in a week were: in Rotterdam - plus US$29, in Singapore - plus US$114, in Fujairah - plus US$107 and in Houston, plus US$102. In the 380 HSFO segment, MABUX MBP/DBP Index (MBI) did not have a single trend: in Rotterdam, Singapore and Houston, the overprice premium dropped, while in Fujairah rose.

VLSFO fuel grade was also overpriced at all selected ports: plus US$42 in Rotterdam, plus US$51 in Singapore, plus US$66 in Fujairah and plus US$50 in Houston. Here MBI also did not have a firm trend: the overcharge decreased in Rotterdam and Houston but increased in Singapore and Fujairah.

As for MGO LS, MBI also registered an overpricing of this type of fuel over the week in all four selected ports: Rotterdam - plus US$75, Singapore - plus US$26, Fujairah - plus US$126 and Houston - plus US$155. In the MGO segment, MBI also changed irregularly: growth in Rotterdam and Singapore but decline in Fujairah and Houston.

Ivanov noted he does not expect any firm trend in the global bunker market in the near-term outlook. "Next week, bunker indices are likely to continue irregular fluctuations," he said.

Latest Posts

Port of Savannah achieves box volume records amid major expansion projects

The Port of Savannah in Georgia, US has handled 4.75 million TEU in the ten months of the fiscal year 2022 (July 2021 -...

Port of Barcelona presents its innovative aspirations through a new plan

Port of Barcelona has launched an innovation Plan in order to coordinate the promotion, under the same umbrella, of the various projects that change the...

Maersk introduces new Middle Corridor rail service

A.P. Moller - Maersk has decided to launch a new service linking China and Europe via Kazakhstan, Azerbaijan, Georgia, and Romania in about 40...

India to link 27 additional ports through rail network

India has now planned to connect 27 more ports through rail connection for faster transportation of cargoes. In this regard, Indian Railways will lay...

Euroseas announces US$85 million order of two new boxships

The Greek vessel owner Euroseas has chosen to exercise its option to proceed with the construction of two additional eco design fuel efficient container...