The Week 46 report by MABUX Global Bunker Index for the maritime industry shows mixed movements in fuel price and market movement. The report reviews the changes in HSFO, VLSFO, MGO, and SS-HSCF/VLSFO in the global space.
Fuel Price Movements
- The price of 380 HSFO increased by $7.82 to $538.18/MT.
- VLSFO went up to 678.27 USD/MT at +$9.86 USD.
- The MGO dropped by USD 1.04 to $931.56.
Global Scrubber Spread
- SS increased and reached USD 140.09.
- The price of SS in Rotterdam climbed up to $99.00 and almost touched the magic figure of $100.
- Singapore’s 380 HSFO/VLSFO differential increased to USD 226.00.
Market Insights
- Possible tightening of the global LNG and gas market due to expected increase in European natural gas demand.
- The LNG bunker fuel price at Sines went up by 6 dollars per ton and stood at 907 dollars per ton on average.
- According to the studies undertaken, the MDI index points at underpriced in 380 HSFO and MGO LS areas of ports being considered.
Singapore Marine Fuel Sales
- Incorporation of marine fuel sales up to a record-breaking level of 4,401,500 mt within Singapore.
- They include VLSFO which accounted for the sale of 2,521,700mt.
- MoM decline is minimal for HSFO, while YoY increases substantially.
Outlook
The bunker market shows modest growth, despite high volatility and forecasts for a slight upturn next week.
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Source: LINKEDIN
