Viswa Lab’s ‘True Worth Index (TWI)’ For Bunker Fuels – November 2015!

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Viswa Lab has recently released True worth Index of Bunker fuels for the month of November 2015.

The best fuel in THE MIDDLE EAST has a TWI of  66 and the worst fuel in SINGAPORE has a TWI of 52. If the fuel cost in SINGAPORE  is $ 202.00/MT, it should sell in THE MIDDLE EAST for $ 233.00 – 243.00/ MT (by applying a price spread of 17.76 %) not taking in account any other logistics cost.

Proportions EFN* ECN** CV TWI
Region 0.4 0.4 0.2  
Japan/Korea 57 22 40.25 59
Middle East 65 25 40.46 66
ARA – high 65 11 40.64 58
ARA – low 55 18 40.36 56
Singapore – high 55 22 40.27 58
Singapore – low 51 15 40.27 52
U.S. Gulf – high 54 20 40.26 56
U.S. Gulf – low 55 13 40.43 53
Durban 65 16 40.62 61
U.S. Northwest 65 24 40.99 66
U.S. Southeast 60 13 40.77 56

 

EFN – Engine Friendliness Number

ECN – Estimated Cetane Number

CV – Calorific Value

Region TWI Bunker Price/ MT – 7th Dec
Middle East – Fujairah 66 192.5
Singapore 52 202.5

The latest True Worth Index (TWI) values from Viswa Lab suggest that the difference between the best and worst regional fuels it tested in November should equate to a price difference of $36 between the top scoring fuels and the lowest scoring products.

Viswa Lab said to MFAME that if the fuel cost Singapore was $202.5 per metric tonne (7th December 2015) “it should sell in the Middle East” for $233 to 243 per metric tonne not taking in account any other logistics cost.

* EFN can jump from very high values to very low values. Both these extremities are unusual and occasional and should be considered as outliers in a statistical analysis.  Therefore considering a mean of EFN (calculated by us over 1000 of sample of 58) we have determined that any value below 50 will be treated as 50 and any value above 65 will be treated as 65.

** On a similar basis, the ECN values below 10 will be treated as 10 and above 25 will be treated as 25.  This is based on the average ECN of 18 over 100’s of samples.

For latest bunker prices – please visit MFAME Bunker Fuel Prices

Source: Viswa Lab

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