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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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- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
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