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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, 29 June 22
LNG MARKET REMAINS TIGHT - INTERMODAL
LNG market remains tight currently, mainly driven by the US LNG outage from the recent fire in Freeport LNG terminal together with the recent fall ...
Wednesday, 29 June 22
CHINA'S NEW PLAN FOR RENEWABLE ENERGY DEVELOPMENT FOCUSES ON CONSUMPTION - FITCH RATINGS
China’s focus on consumption penetration for renewable energy development in its recently released 14th five-year plan – 2021 to 2025 & ...
Wednesday, 29 June 22
APAC CORPORATE SECTOR OUTLOOKS SHIFT AMID GLOBAL SHOCKS - FITCH RATINGS’
Fitch Ratings’ mid-2022 corporate sector outlook review revealed that the Asia-Pacific (APAC) region saw the largest number of sector outlook ...
Thursday, 16 June 22
MARKET INSIGHT - INTERMODAL
Picking up from my last insight in March, on the early days of the invasion, it's worth pointing out the way that the fast-paced working enviro ...
Saturday, 11 June 22
AIMTEK INTERNATIONAL CONFERENCE AND AWARDS
Press Release: The prestigious AIMTEK International Conference and Awards concluded successfully on June 7th, 2022 at Radisson Blu, Yas Island Abu ...
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- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- MS Steel International - UAE
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
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