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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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Tuesday, 26 July 22
CAP RUSSIA'S OIL PRICE NOW - PROJECT SYNDICATE
Though the price of oil has declined in recent weeks, it is still through the roof, filtering through to gasoline prices, and causing economic and ...
Tuesday, 26 July 22
WILL SOUTH AMERICA’S WINTER DEMAND DRAW LNG CARGOES AWAY FROM EUROPE? - ICIS
South America is now in the middle of its winter demand season. Last year the region increased its share of global LNG imports in winter, with Braz ...
Monday, 25 July 22
GLOBAL 2021 COAL-FIRED ELECTRICITY GENERATION SURGES TO RECORD HIGH - REUTERS
By contrast, mine output was still fractionally below the record set between 2012 and 2014 because older and less efficient coal generators have be ...
Saturday, 23 July 22
THE EU HAS BEEN REDUCING IMPORTS OF RUSSIAN REFINED OIL PRODUCTS SINCE MARCH - BANCHERO COSTA
The European Union could now ban the import and transit of fuel oil from Russia around six months ahead of the planned deadline, an EU official and ...
Saturday, 23 July 22
INDONESIA CONSIDERING SCRAPPING DOMESTIC SALES RULE FOR PALM OIL EXPORTS - REUTERS
Indonesia is considering removing a domestic sales requirement for palm oil exports because high inventories of the vegetable oil have been holding ...
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- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Planning Commission, India
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
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