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Friday, 08 July 22
BUNKER PRICES EXPECTED TO RECOVER LOST GROUND NEXT WEEK - SERGEY IVANOV, MABUX
 Over the Week 27, the world bunker indices showed a sharp decline, primarily due to the fall in oil prices on July 05. The 380 HSFO index fell by 52.10 USD: from 734.52 USD/MT to 682.42 USD/MT. The VLSFO index, in turn, decreased by 33.17 USD: from 1069.54 USD/MT to 1036.37 USD/MT. The MGO Index suffered the most significant losses: minus 80.29 USD (from 1378.31 USD/MT to 1298.02 USD/MT), dropping below 1300 USD.
Despite the decline in fuel prices, the Global Scrubber Spread (SS) weekly average – the price difference between 380 HSFO and VLSFO – continued to increase over the week – plus $ 14.70 ($ 348.90 vs. $ 334.20 last week). In Rotterdam, the average SS Spread also rose: $324.50 vs. $307.00 (up $17.50 from last week). The most significant growth in the average weekly 380 HSFO/VLSFO price difference was registered in Singapore: plus $ 51.67, breaking the $ 500 mark: $ 541.50 versus $ 489.83 last week. For more information, please visit the Price Difference section on mabux.com.
Tight supply and energy security uncertainty pushed natural gas prices to record highs over the week. The price of LNG as bunker fuel in the port of Sines (Portugal) rose on July 4 by 193 USD, exceeding 3000 USD mark: 3156 USD/MT (versus 2963 USD/MT a week earlier). LNG prices are more than double those of traditional bunker fuels: MGO LS at the port of Sines was quoted on July 06 at 1426 USD/MT.
Over the Week 27, the MDI index (comparison of MABUX MBP Index (market bunker prices) vs MABUX DBP Index (MABUX digital bunker benchmark)) continued to register an underestimation of 380 HSFO fuel in three out of four ports selected: Rotterdam – minus $ 72, Singapore – minus $ 105 and Fujairah – minus $71. Houston remains the only overpriced port – plus $ 20. The underprice premium rose in all three ports. In Houston, the overcharge margin continued to decline, approaching 100-percent correlation’s mark.
VLSFO fuel grade, according to MDI, remained overpriced in all four selected ports: plus $75 in Rotterdam, plus $261 in Singapore, plus $281 in Fujairah and plus $66 in Houston. Here, the MDI index did not have a firm trend: the overprice premium increased in Rotterdam, Singapore and Fujairah, but decreased in Houston. VLSFO fuel remains the most overvalued segment in the global bunker market.
As for MGO LS grade, MDI registered an overcharge of this fuel in all selected ports: in Rotterdam – plus $ 20, in Singapore – plus $ 29, in Fujairah – plus $ 223 and in Houston – plus $ 112. The most significant changes were in Fujairah – plus 76 points and Houston – plus 63 points. In Rotterdam and Singapore, over the week, overcharge premium decreased, while in Fujairah and Houston it rose.
DNV reported there were just six vessels added to DNV’s database in June but in spite of a quiet month for contracting, Q2 2022 was the strongest ever quarter for LNG-fuelled tonnage orders, with 83 vessels added to the tally. Meantime, while six orders were placed last month, an adjustment to a previously reported containership booking meant that net growth in June was actually only two additional vessels. Looking ahead to the next few months, however, the LNG bunkering market looks set to witness a ‘ketchup-bottle effect’, with LOIs in the pipeline and reports of ‘numerous’ container vessel and car carrier orders. DNV also highlighted growing momentum in methanol-fuelled vessel orders, with two offshore construction vessels added to its database in June.
We expect next week the global bunker market to pass into upward correction after a sharp fall this week.
Source: By Sergey Ivanov, Director, MABUX
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Wednesday, 10 August 22
THE FUTURE OF COAL: EIGHT KEY THEMES FROM THE GLOBAL COAL FORUM - WOOD MACKENZIE
Coal investors face a multi-layered and unavoidable challenge: markets distorted by war, trade constraints and the existential threat of the energy ...
Saturday, 06 August 22
SUMITOMO Q1 PROFIT RISES 45% ON STRONGER PRICES OF COAL, NICKEL - REUTERS
Japanese trading house Sumitomo Corp 8053.T said on Wednesday its net profit for the April-June quarter rose 45% to a record thanks to higher price ...
Saturday, 06 August 22
GERMANY'S ENERGY U-TURN: COAL INSTEAD OF GAS - DEUTSCHE WELLE
Berlin has realized it will never again import as much energy from Russia as before the Ukraine war. So the challenge is to wean Germany off its de ...
Saturday, 30 July 22
NUANCES OF FORCE MAJEURE CLAUSE - BALTIC EXCHANGE
Knowledge to Elevate
In NKD Maritime Limited v. Bart Maritime (No 2) Inc (Shagang Giant) [2022] EWHC 1615 (Comm), Bart Maritime (No 2) Inc (th ...
Saturday, 30 July 22
AEMO URGES QUICKER SHIFT TO RENEWABLES AMID COAL FAILURES AND SOARING FOSSIL FUEL COSTS
The Australian Energy Market Operator has called for an accelerated shift to wind and solar, backed up by batteries and other storage, as a devasta ...
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- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- PTC India Limited - India
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- Planning Commission, India
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- The University of Queensland
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
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