Global Maritime Hub Logo
No Result
View All Result
  • Login
  • Premium Content
  • 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
  • Other Hubs
    • GLOBAL LNG HUB
    • EUROPEAN GAS HUB
    • THE COAL HUB
    • GLOBAL HYDROGEN HUB
    • CRITICAL MINERALS HUB
  • FREE TRIAL
  • My account
  • Login
Cart / €0.00

No products in the cart.

  • Premium Content
  • 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
  • Other Hubs
    • GLOBAL LNG HUB
    • EUROPEAN GAS HUB
    • THE COAL HUB
    • GLOBAL HYDROGEN HUB
    • CRITICAL MINERALS HUB
  • FREE TRIAL
  • My account
  • Login
Global Maritime Hub
No Result
View All Result
Home Bunker Fuel

MABUX: Bunker Weekly Outlook, Week 11, 2023.

Editor by Editor
2 years ago
Reading Time: 4 mins read
Bunker-Weekly-Outlook
Share on FacebookShare on TwitterShare on Linkedin

Over the Week 11, MABUX global bunker indices reverted to a firm downtrend. The 380 HSFO index fell by 17.46 USD: from 489.07 USD/MT last week to 471.61 USD/MT. The VLSFO index decreased by 26.64 USD (641.41 USD/MT versus 668.05 USD/MT last week). The MGO index also lost 30.95 USD (from 946.20 USD/MT last week to 915.25 USD/MT), coming close to 900 USD mark. At the time of writing, the market was still in a downtrend.

RELATED POSTS

MABUX-Index-W-25

Bunker fuel outlook, Week 25

20 hours ago
MABUX-Index-W-24

Bunker fuel outlook, Week 24

1 week ago
MABUX-Index-W-2

Bunker fuel outlook, Week 23

2 weeks ago

Bunker-Weekly-OutlookThe Global Scrubber Spread (SS) – the price differential between 380 HSFO and VLSFO – showed a firm decline in a Week 11 – minus $9.16 ($169.80 vs. $178.89 last week). At the same time, the weekly average also decreased by $8.90. In Rotterdam, the SS Spread fell by $17.00 to $145.00 (vs. $162.00 last week), while the weekly average lost $8.67. In Singapore, the 380 HSFO/VLSFO price difference also continued to decrease: minus $ 8, dropping to $ 139 (the weekly average weekly lost $ 2.50). We expect SS Spread to continue downtrend next week. More information is available in the “Differentials” section of mabux.com.

Bunker-Weekly-OutlookAs per the International Energy Agency (IEA), natural gas demand in the European Union fell in 2022 by 55 bcm, or 13%, its steepest drop in history. The IEA said that the milder winter temperatures ‘certainly played a role’, as it noted that Heating Degree Days (a measure of how much energy is required to heat a building due to colder weather) across the European Union (EU) were 12% lower on average in 2022 than in 2021. ‘Production curtailment’ in ‘energy-intensive industries’ played a major part in the natural gas demand drop, as ‘several plants reduced production, and in some cases imported finished products from outside the EU instead of manufacturing them domestically at higher cost’. Other significant factors including ‘fuel switching’ and ‘behavioural changes’ (i.e. households turning the thermostat down and using less hot water) in response to the higher natural gas prices. In terms of fuel switching, the IEA estimated that ‘around 7 bcm of gas-to-oil switching occurred in the industrial sector’.

Despite the general downward trend in natural gas indices, the price of LNG as a bunker fuel at the port of Sines (Portugal) increased and reached 1161 USD/MT on March 13 (plus 99 USD compared to the previous week). The price difference between LNG and conventional fuel also widened on March 13 to 272 USD: MGO LS at the port of Sines was quoted at 989 USD/MT that day. However, we do not expect LNG prices to continue their upward trend in the near term. More information is available in the LNG Bunkering section of mabux.com.

Bunker-Weekly-OutlookOver the Week 11, the MDI index (correlation of MABUX market bunker prices (MBP Index) vs MABUX digital bunker benchmark (DBP Index)) registered undervaluation of 380 HSFO fuel in all four selected ports. The weekly average showed a reduction at all ports. The most significant was MDI decline at Rotterdam: minus 76 points at once reaching minus $31 mark. In Singapore, Fujairah and Houston, MDI showed minus $74, minus $98 and minus $53, respectively.

In the VLSFO segment, according to MDI, the three selected ports – Rotterdam, Singapore and Fujairah – remain undervalued by minus $5, minus $15 and minus $21, respectively. The underestimation weekly average moderately narrowed. Houston remained the only overvalued port in this fuel segment with a plus $27, the overpricing level slightly increased.

There are still three ports in the MGO LS segment: Rotterdam, Singapore and Houston. The weekly average underpricing premium rose moderately in Rotterdam and Singapore to $94 and $101 respectively but decreased in Houston to $54. Fujairah remained the only overvalued port – plus $155. In general, the MDI changes in this fuel segment were insignificant.

There are three underpriced ports in the MGO LS segment: Rotterdam, Singapore and Houston. Average weekly undercharge ratio slightly declined at Rotterdam and Houston to $58 and $48 respectively but rose to $104 in Singapore. Fujairah remains the only overvalued port – plus $143. In general, there is gradual narrowing of undervaluation margins registered in all fuel segments.

Bunker-Weekly-OutlookMore information on the correlation between market prices and MABUX digital benchmark is available in the “Digital Bunker Prices” section at mabux.com.

The 3,794,300 metric tonnes (mt) of marine fuel sales in the Port of Singapore last month was 8.3% up on the 3,504,000 mt recorded in February 2022. However, last month’s total marked a 13.3% decrease on the 4,376,900 mt registered in January, Sales of very low sulphur fuel oil 380 cSt stood at 1,938,500 mt for the month – 11.8% up on the 1,733,500 mt recorded in February 2022 but 15.7% down on January’s total. For a ninth successive month, sales of high sulphur fuel oil 380 cSt (1,105,600 mt) surpassed the 1 million tonne mark. The 297,000 mt of low sulphur marine gasoil sales represented a 5.9% year-on-year (y-o-y) increase but a 5.3% decrease on the 313,700 mt recorded in January. Over the first two months of the year a total of 8,171,200 mt of marine fuel was sold in Singapore compared to 7,533,000 during the same period in 2022.

Global bunker market retreated to downtrend following crude oil as the collapse of Silicon Valley Bank and problems with Credit Suisse sparked fears of a fresh financial crisis that could reduce future oil and fuel demand. We expect bunker indices to keep falling next week.

Source: www.mabux.com


RELATED POSTS

MABUX-Index-W-25

Bunker fuel outlook, Week 25

20 hours ago
MABUX-Index-W-24

Bunker fuel outlook, Week 24

1 week ago
MABUX-Index-W-2

Bunker fuel outlook, Week 23

2 weeks ago
Tags: bunker fuel pricesMABUXshipping emissions
Editor

Editor

Related Posts

MABUX-Index-W-25
Bunker Fuel

Bunker fuel outlook, Week 25

20 hours ago
MABUX-Index-W-24
Bunker Fuel

Bunker fuel outlook, Week 24

1 week ago
MABUX-Index-W-2
Bunker Fuel

Bunker fuel outlook, Week 23

2 weeks ago
MABUX-Index-W-21
Bunker Fuel

Bunker fuel outlook, Week 21

4 weeks ago
LNG-fueled-Container- Ships
Bunker Fuel

LNG-fueled Container Ships make up over half of the entire orderbook

1 month ago
MABUX-Index-W-20
Bunker Fuel

Bunker fuel outlook, Week 20

1 month ago

Leave a Reply Cancel reply

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

No Result
View All Result

Trending Posts

'large-cap'-valuation

Six public container carriers hit ‘large-cap’ valuation in May

June 12, 2025
Average-operating- margin

Average operating margin falls to lowest level in a year

May 29, 2025
LNG-series

ZCIS delivers first of LNG series to MSC

May 29, 2025

Recent Post

Charter-market

Charter market maintains robust trajectory

June 19, 2025
alliance-fleets

Carriers assign up to 80%of their capacity to alliance fleets

June 19, 2025
MABUX-Index-W-25

Bunker fuel outlook, Week 25

June 19, 2025
Global-Maritime-Hub- Logo

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

Charter market maintains robust trajectory

Carriers assign up to 80%of their capacity to alliance fleets

Bunker fuel outlook, Week 25

Weekly Updates

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

Your subscription could not be saved. Please try again.
Your subscription has been successful.

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

© 2020 GlobalMaritimeHub | All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

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

Log In
No Result
View All Result
  • Premium Content
  • 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
  • Other Hubs
    • GLOBAL LNG HUB
    • EUROPEAN GAS HUB
    • THE COAL HUB
    • GLOBAL HYDROGEN HUB
    • CRITICAL MINERALS HUB
  • FREE TRIAL
  • My account
  • Login

© 2020 GlobalMaritimeHub | All Rights Reserved

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.

Brighten Up Your Thursday!

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