4.7 C
Monday, March 8, 2021
Home The Weekly MABUX Bunker Index Narrow spreads stall scrubber retrofits

Narrow spreads stall scrubber retrofits

Last week bunker prices continued to rise slightly. MABUX Global Bunker Index for 380 HSFO rose from US$274/tonne on 4 June up to US$287/tonne today, 11 June (plus US$13), VLSFO – from US$314/tonne to US$335/tonne (plus US$21), MGO LS – from US$387/tonne to US$409/tonne (plus US$22).

Bunker indexes followed the general trend of the global oil market which was also on the rise as the Oil Producing and Exporting Countries (OPEC+) and other oil producers agreed to a one-month extension of its oil production cuts (9.6 million barrels per day) and adopted a stricter approach to ensuring members compliance.

The average VLSFO-HSFO global spread (so called Scrubber Spread (SS)) has been steady over the last seven days and stands at US$42.47 (+US$1.42 for index a week ago). In Rotterdam weekly SS index is 42.33 USD (down US$ 0.17).

The highest SS index was registered in Singapore this week: US$87.17 (up US$17.84), while in Fujairah it fell to US$76.50 from US$102.17 a week ago (down US$25.67).

The 380 HSFO-VLSFO spreads are still rather narrow. As a result, scrubber prospects have received a setback and installations are getting delayed globally.

Latest Posts

SITC profit up 60% in 2020

SITC International continued its profitable streak as container rates spiked in 2020 with the Hong Kong-listed parent of the Chinese intra-Asia carrier SITC Container...

DP World and partners to build Indonesian container port

DP World alongside its partner Caisse de dépôt et placement du Québec (CDPQ), a global investment group, have signed a long-term agreement with Indonesia’s...

PhilaPort breaks ground on new distribution centre

The new PhilaPort Distribution Center will fuel the next phase of development for one of the fastest-growing ports in America, according to a company...

Danes take another step toward methanol as a marine fuel

Danish marine technology company Alfa Laval has announced that it will begin large-scale tests with methanol as a marine fuel with its partners at...

Brazilian port gets green light to handle larger vessels

The Port of Santos has received approval from the Brazilian Navy to receive 366m container vessels with a capacity of 14,000TEU, which are the...