MABUX World Bunker Index has shown irregular changes during the week. The 380 HSFO index has declined from 431.14 USD/MT to 428.88 USD/ MT (-2.26 USD), VLSFO has lost 2.80 USD: from 535.43 USD/MT to 532.63 USD/MT. MGO LS increased by 3.10 USD 601.79 USD/MT to 604.89 USD/MT.
The Global Scrubber Spread (SS) – the difference in price between 380 HSFO and VLSFO – has not had any drastic changes during the week and averaged 104.27 USD (105.65 USD last week).
SS Spread in Rotterdam has narrowed during the week from 106.00 USD down to 91.00 USD (-15.00 USD), the average SS spread for the week has decreased by 2.67 USD from 102.00 last week to 99.33 USD. In Singapore, SS Spread has slightly declined during the week by 4.00 USD: from 113.00 USD to 109.00 USD, however, the average weekly SS index fell by 1.33 USD: from 113.33 USD last week to 112.00 USD.
Correlation of MBP Index (Market Bunker Prices) vs DBP Index (MABUX Digital Benchmark) in the four global largest hubs during the past week showed that 380 HSFO remain undervalued in all selected ports in a range from minus 4USD (Houston) to minus 26USD (Rotterdam). VLSFO according to DBP Index, is undervalued in a range from 6 USD (Fujairah) to 24 USD (Singapore) in all selected ports except of Houston, where it is overpriced by +20 USD. The MGO LS was also overvalued in Fujairah (+4USD) and Houston (+12USD). In Rotterdam and Singapore this type of fuel was underpriced by minus 36USD and minus 39USD respectively.
After extensive research and development to explore how Carbon Capture and Storage (CCS) can be developed and scaled in maritime, Wärtsilä Exhaust Treatment announced that technological advances could soon enable manufacturers to design and upgrade scrubbers to capture carbon at the point of exhaust. To further accelerate development, Wärtsilä is installing a 1MW pilot plant at its test facility in Moss, Norway, which will allow the company to test its CCS technologies in a range of scenarios and conditions.
German energy trader Uniper’s one of two crude processing units at Fujairah came back online on March 12 after an unexpected outage early in the week ended March 13. The outage, which has crimped product availability at the port, has however led marine fuel premium at the port to reach multi-month highs in the recent days.
Source: MABUX
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