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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, 06 July 22
MARKET INSIGHT - INTERMODAL
Following the 3rd Decarbonizing Shipping Forum, held in Hamburg on June 2022, there has been a meaningful resurgence of discussions within the ship ...
Tuesday, 05 July 22
WHY ARE VLSFO PRICES SO HIGH, ESPECIALLY IN SINGAPORE? - STEVE CHRISTY, INTEGR8 FUELS
Tightness in products still trumps talks of recession
Last month we wrote about the fears of recession versus the tightness in product markets ...
Tuesday, 05 July 22
ADANI ENTERPRISES LOWEST BIDDER IN COAL INDIA'S IMPORT TENDER: REPORT - BUSINESS STANDARD
Coal India Ltd floated its first import tender on behalf of power companies, where Adani Enterprises Ltd came out to be the lowest bidder, a report ...
Tuesday, 05 July 22
CHINA POLICY KEY FOR IRON ORE OUTLOOK - ING
China’s covid lockdowns and recessionary risks hit iron ore
Iron ore prices have fallen significantly from their year-to-date high of US$ ...
Monday, 04 July 22
INDONESIAN COAL PRICE REFERENCE SLIGHTLY DOWN IN JULY
COALspot.com: Indonesian Coal Price Reference for July delivery drops 1.52 per cent month on month.
The Indonesian Coal Price Refere ...
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- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
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