BUNKER INDEX

Sustainable Uptrend To Continue In Global Bunker Market On August 28.

Credit: Venti Views/ Unsplash

MABUX World Bunker Index (as index calculated on current prices for 380 HSFO, VLSFO and MGO) turned to slight uptrend on Aug. 25:

380 HSFO – USD/MT – 558.35 (+2.02)

VLSFO – USD/MT – 660.70 (+3.87)

MGO – USD/MT – 974.04 (+6.44)

As of Aug. 25, the MABUX MBP/DBP Index (MDI) (the correlation between market bunker prices (MBP) and the MABUX digital bunker price benchmark (DBP)), recorded the following changes in four selected ports: Rotterdam, Singapore, Fujairah and Houston:

https://mfame.guru/sustainable-uptrend-to-continue-in-global-bunker-market-on-august-28/

Downward Trend To Continue In Global Bunker Market On Aug.17

Credit: Shaah Shahidh/ unsplash

MABUX World Bunker Index Sees Fluctuations Across 380 HSFO, VLSFO, and MGO Categories on August 16th

380 HSFO – USD/MT – 560.55 (-7.06)

VLSFO – USD/MT – 665.45 (-5.05)

MGO – USD/MT – 947.94 (+4.38)

HSFO Segment Varied

As of Aug. 16, the MABUX MBP/DBP Index (MDI) (the correlation between market bunker prices (MBP) and the MABUX digital bunker price benchmark (DBP)), recorded the following alterations in four selected ports: Rotterdam, Singapore, Fujairah and Houston:

–...

https://mfame.guru/downward-trend-to-continue-in-global-bunker-market-on-aug-17/

Sinopec sees increased bunker sales in China

Domestic very low sulphur fuel oil (VLSFO) production has seen growth in China leading to increased bunker sales by the leading supplier Sinopec at the country’s ports, according to S&P Global Platts.

Sinopec’s bunker sales at Chinese ports are close to 4.8 million tonnes/year, while the company increased its share of the China bunker market to 40%, of the 1 million tonnes/month traded at Chinese ports, reported Platts.

The Asian giant has applied a long-awaited rebate on value added tax on fuel...

https://container-news.com/sinopec-sees-increased-bunker-sales-in-china/

EU funds renewable fuels research project

A consortium led by the Eindhoven University of Technology (TU/e) known as IDEALFUEL will develop new, efficient and low-cost methods of producing low-sulphur heavy fuel oils (HFO) from wood-based non-food biomass.

The project has received a €5 million (US$5.4 million) grant from the European Union’s Horizon2020 programme and officially started on 1 May 2020. The timeline for the project is 4 years, it is officially scheduled to finish on 30 April 2024.

Due to environmental concerns and national...

https://container-news.com/eu-funds-renewable-fuels-research-project/

Lytton refinery shutdowns due to poor fuels demand

Caltex Australia has shutdown the Lytton refinery in Brisbane, according to Ship&Bunker. The Australian refinery will remain closed until market conditions improve. Caltex had announced, in April, that it will bring forward “planned maintenance at Lytton refinery”.

The significant fall in world fuel demand, caused by the Covid-19 crisis, led the Australian petroleum company to that important decision.

“Bringing forward our maintenance programme at the Lytton refinery in a planned way will protect...

https://container-news.com/lytton-refinery-shutdowns-due-to-poor-fuels-demand/

VLSFO price hits record low

The cost of VLSFO bunkers in the four main bunkering hubs of Singapore, Fujairah, Rotterdam, and Houston has continued to fall, hitting a record low on Tuesday US$180/tonne, according to Ship & Bunker’s Global 4 Ports (G4) index.

This is the lowest level of bunker costs since April 2019, when the G4 index for IFO380 was US$179/tonne.

The courtesy of MABUX

The current global level of VLSFO is US$230/tonne with the largest decline of US$22.5/tonne in Central America and the biggest gain of...

https://container-news.com/vlsfo-price-hits-record-low/

MABUX bunker index – 8 April

Global fuel prices continue to fluctuate among the key regions today, as uncertainty caused by the Coronavirus has made the market difficult to predict.

Although the overall situation is too blurry, the upcoming meeting between OPEC members and producers and their non-OPEC counterparts, scheduled for 9 April, could boost the bunker market if an agreement is reached, particularly between Saudi Arabia and Russia.

“Bunker prices globally do not have any firm trend at the moment,” said the MABUX...

https://container-news.com/mabux-bunker-index-8-april/

MABUX bunker index – 7 April

Kuwait’s Mina Al-Ahmadi oil refinery has accomplished a biofuels expansion project with two additional production units coming on-stream, the state-run Kuwait News Agency reported, citing the Kuwait National Petroleum Corp (KNPC).

The two new coal and naphtha hydro treating units will produce 37,000 and 8,400 barrels per day (bpd) of oil equivalent respectively, Waleed al-Badr, KNPC chief executive officer said, according to Reuters.

The introduction of biofuels will have an increasingly...

https://container-news.com/mabux-bunker-index-7-april/

MABUX bunker index – 6 April

OPEC and Russia have postponed a meeting set for today to discuss supply cuts and ending a brutal price war, according to CNN.  The meeting is re-scheduled for April 9.

The meeting comes after US President Trump suggested that massive production cuts could be on the way and Saudi Arabia called for an “urgent” effort to restore “balance” to the oil market, CNN reports.

Saudi Arabia and Russia have been locked in an intense price war since early March when the OPEC+ oil alliance cracked, flooding...

https://container-news.com/mabux-bunker-index-6-april/

MABUX bunker index – 27 March

GP Global has announced ambitious plans to strengthen its international bunkering business with the addition of a new supporting infrastructure.

With the goal of expanding the Group’s marine fuel business while getting ready to supply IMO2020 compliant fuel to its customers, GP Global is leveraging its international network to ramp up its bunkering business and gear up to meet the International Maritime Organization’s global 0.5% fuel sulfur content.

Key bunkering activities that GP Global will...

https://container-news.com/mabux-bunker-index-27-march/

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