Global Maritime Hub
No Result
View All Result
  • Login
  • Premium Content
    • All
    • Economic Impact
    • Emissions, Fuel Technology & Environment
    • Financing
    • Hinterland & Intermodal
    • Offshore Vessels Market
    • Piracy & Security
    • Port Environmental Impact
    • Ports & Terminals
    • Ship Building
    • Shipping Economic Trends & Regions
    • Shipping Workforce Issues
  • Blog
  • Events
  • Industry Links
    • Broker
    • Certification
    • Consultant
    • Industry Association
    • Institute & Think Tank
    • Legal Experts
    • Official Institution / Body
    • Port & Port Authority
    • Recruitment Specialist
    • Research & Market Data
    • Shipping Company
    • Industry Blog
    • Trade Media
    • Training & Education
  • Newsletter
  • Videos
  • Other Hubs
    • GLOBAL LNG HUB
    • EUROPEAN GAS HUB
    • THE COAL HUB
  • Subscribe
  • My account
  • Login
SUBSCRIBE
  • Premium Content
    • All
    • Economic Impact
    • Emissions, Fuel Technology & Environment
    • Financing
    • Hinterland & Intermodal
    • Offshore Vessels Market
    • Piracy & Security
    • Port Environmental Impact
    • Ports & Terminals
    • Ship Building
    • Shipping Economic Trends & Regions
    • Shipping Workforce Issues
  • Blog
  • Events
  • Industry Links
    • Broker
    • Certification
    • Consultant
    • Industry Association
    • Institute & Think Tank
    • Legal Experts
    • Official Institution / Body
    • Port & Port Authority
    • Recruitment Specialist
    • Research & Market Data
    • Shipping Company
    • Industry Blog
    • Trade Media
    • Training & Education
  • Newsletter
  • Videos
  • Other Hubs
    • GLOBAL LNG HUB
    • EUROPEAN GAS HUB
    • THE COAL HUB
  • Subscribe
  • My account
  • Login
Global Maritime Hub
No Result
View All Result
Home Bunker Fuel

Global Bunker Fuel Report – Week 3

Editor by Editor
2 years ago
min read3 min
bunker fuel prices
Share on FacebookShare on TwitterShare on Linkedin

The COVID-19 pandemic’s spread is taking center stage again and markets are getting increasingly worried about the long duration of European lockdown and about the new restrictions in China. Border closures, social distancing measures and shutdowns will continue to constrain fuel demand until vaccines are more widely distributed.

RELATED POSTS

Bunker-Weekly-Outlook

MABUX: Bunker Weekly Outlook, Week 04, 2023

4 days ago
Bunker-Weekly-Outlook

MABUX: Bunker Weekly Outlook, Week 03, 2023.

2 weeks ago
Bunker-Weekly-Outlook

MABUX: Bunker Weekly Outlook, Week 02, 2023

2 weeks ago

Bunker fuel outlook

The World Bunker Index MABUX displayed irregular fluctuations over a week. As a result, the 380 HSFO index fell from 367.25 USD/MT to 365.95 USD/ MT (-1.30 USD), VLSFO added 1.00 USD: from 461.00 USD/MT to 462.00 USD/MT while MGO gained 2.25 USD and changed from 515.58 USD/MT up to 517.83 USD/MT. The Global Scrubber Spread (SS) (price difference between 380 HSFOs and VLSFOs) continue firm widening trend: it has risen by 6.40 USD and averaged USD 94.96 (88.56 USD a week ago).

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 in two ports: Rotterdam – by 9 USD and Singapore – by 10 USD, while being slightly overcharged in Fujairah and Houston by 1 and 12 UDSD respectively. VLSFO fuel, according to DBP Index, was still slightly overpriced in all selected ports ranging from plus 6 USD (Singapore) to plus 25 USD (Houston). DBP Index also showed that MGO LS was undervalued in all ports ranging from minus 19 USD (Rotterdam) to minus 34 USD (Singapore), with the exception of Houston (overvalued by 8 USD).

Mabux bunker prices

Despite the continued moderate growth in bunker prices in early 2021, this trend is largely hampered by the high rate of coronavirus pandemic and related concerns about a recovery in energy demand. Pressed by this factor, the MABUX long-term forecast until January 2023 for the port of Rotterdam (based on active oil-futures contracts as of Jan.20, 2021) shows a possible reversal of the 380 HSFO and VLSFO indices into a moderate downward trend, while prices for MGO LS remain quite stable. Thus, it is too early to speak about a sustainable recovery on the bunker market.

Mabux bunker fuel prices

We expect that in 2021 VLSFO and MGO LS will remain the main types of bunker fuel with a fairly stable demand. Despite concerns regarding the availability of the new conventional VLSFO fuel in the first half of 2020, this problem has now been completely resolved in the vast majority of ports worldwide. Also, by the end of 2020, quality issues of the VLSFO were mainly resolved.

Traditional high-sulfur fuel 380 HSFO will retain its segment in the market in 2021. The gradual rise in the SS index again added to the attractiveness of using scrubbers in combination with the 380 HSFO. However, in the medium term, one should hardly expect an increase in demand for this type of fuel, both in terms of the further availability of 380 HSFOs and in view of the likely tightening of restrictions to use non-ecological fuels, discussions on which have already entered into an active phase.

As for alternative types of bunkering fuel, primarily LNG, despite the significant results achieved in 2020 in creating the infrastructure for LNG bunkering (at the end of 2020, LNG bunkering was available in 96 ports of the world, and in 55 ports LNG bunkering terminals were under construction), it is still premature to talk about a significant growth in this segment of the global bunker market in 2021. According to DNV GL, there was no significant growth of the LNG fleet in 2020: 305 vessels versus 276 vessels in 2019. In 2021, the LNG fleet is expected to grow to 445 vessels, but this only amounts to about 1% of the world’s total commercial fleet.

Overall, we expect better results for the global bunker market in 2021, as the roll-out of coronavirus vaccination programs could stimulate global economic activity, which in turn could ultimately lead to higher refinery runs and growing demand for all types of fuels, including marine fuels.

Source: Mabux

Follow on Twitter

Tweets by "MabuxAB"
Tags: bunker fuelFujairah bunker pricesGlobal Scrubber SpreadHSFOMABUXVLSFO
Editor

Editor

Related Posts

Bunker-Weekly-Outlook
Bunker Fuel

MABUX: Bunker Weekly Outlook, Week 04, 2023

4 days ago
Bunker-Weekly-Outlook
Bunker Fuel

MABUX: Bunker Weekly Outlook, Week 03, 2023.

2 weeks ago
Bunker-Weekly-Outlook
Bunker Fuel

MABUX: Bunker Weekly Outlook, Week 02, 2023

2 weeks ago
Bunker-Weekly-Outlook
Bunker Fuel

MABUX: Bunker Weekly Outlook, Week 01, 2023

4 weeks ago
Bunker-Weekly-Outlook
Bunker Fuel

Weekly bunker indices outlook – Week 51

1 month ago
Bunker-Weekly-Outlook
Bunker Fuel

MABUX: Bunker Weekly Outlook, Week 50, 2022

2 months ago

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

No Result
View All Result

Trending Posts

Containership-demolition-sales

Containership demolition sales fall to 17-year low in 2022

January 26, 2023
Bunker-Weekly-Outlook

MABUX: Bunker Weekly Outlook, Week 01, 2023

January 5, 2023
Asia-Europe-sailings

Asia-Europe: 27% of sailings axed in first seven weeks of 2023

January 19, 2023

Recent Post

Bunker-Weekly-Outlook

MABUX: Bunker Weekly Outlook, Week 04, 2023

January 26, 2023
Containership-demolition-sales

Containership demolition sales fall to 17-year low in 2022

January 26, 2023
Asia-Europe-sailings

Asia-Europe: 27% of sailings axed in first seven weeks of 2023

January 19, 2023
Bunker-Weekly-Outlook

MABUX: Bunker Weekly Outlook, Week 03, 2023.

January 19, 2023
Bunker-Weekly-Outlook

MABUX: Bunker Weekly Outlook, Week 02, 2023

January 13, 2023
Boxship-Sale-and-Purchase

Boxship Sale and Purchase market shrinks by 50% in 2022

January 12, 2023

Online platform for sharing information & analysis on trade, shipping, ports and the maritime business more info

Categories

  • Shipping Economic Trends & Regions
  • Ports & Terminals
  • Piracy & Security
  • Emissions, Fuel Technology & Environment
  • Economic Impact
  • Financing
  • Ship Building
  • Hinterland & Intermodal
  • Offshore Vessels
  • Port Environmental Impact
  • Shipping Workforce

Recent Posts

MABUX: Bunker Weekly Outlook, Week 04, 2023

Containership demolition sales fall to 17-year low in 2022

Asia-Europe: 27% of sailings axed in first seven weeks of 2023

Weekly Updates

Sign up to receive our weekly newsletter (each Thursday) with new shipping industry market reports, presentations & analysis.

By signing up, I agree to our TOS and Privacy Policy.

© 2020 GlobalMaritimeHub | All Rights Reserved

No Result
View All Result
  • Premium Content
    • All
    • Economic Impact
    • Emissions, Fuel Technology & Environment
    • Financing
    • Hinterland & Intermodal
    • Offshore Vessels Market
    • Piracy & Security
    • Port Environmental Impact
    • Ports & Terminals
    • Ship Building
    • Shipping Economic Trends & Regions
    • Shipping Workforce Issues
  • Blog
  • Events
  • Industry Links
    • Broker
    • Certification
    • Consultant
    • Industry Association
    • Institute & Think Tank
    • Legal Experts
    • Official Institution / Body
    • Port & Port Authority
    • Recruitment Specialist
    • Research & Market Data
    • Shipping Company
    • Industry Blog
    • Trade Media
    • Training & Education
  • Newsletter
  • Videos
  • Other Hubs
    • GLOBAL LNG HUB
    • EUROPEAN GAS HUB
    • THE COAL HUB
  • Subscribe
  • My account
  • Login

© 2020 GlobalMaritimeHub | All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Cookie settingsACCEPT
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Non-necessary
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
SAVE & ACCEPT

Brighten Up Your Thursday!

SIGN UP to receive our free weekly newsletter with new shipping market reports, presentations & analysis! EVERY THURSDAY!