The Weekly Outlook was contributed by Marine Bunker Exchange (MABUX)

On a Week 33, MABUX World Bunker Index continued its moderate decline. The 380 HSFO index decreased by USD 4.78: from 444.79 USD/MT to 440.01 USD/MT, the VLSFO index fell the most – by USD 13.02 – from 546.39 USD/MT to 533.37 USD/MT, while the MGO Index lost 2.75 USD (from 636.21 USD/MT to 633.46 USD/MT).

MABUX ARA LNG Bunker Index, calculated as the average price of LNG as a marine fuel in the ARA region, surged in the period from 11 to 18 August: from 916.19 USD/MT to 982.31 USD/MT (plus 66.12 USD). At the same time, the average value of the ARA LNG Bunker Index increased by 11.34 USD compared to the previous week. The average price of MGO LS in Rotterdam for the same period decreased by 10.00 USD/MT. The average price difference between bunker LNG and MGO LS in Rotterdam increased by 12.85 USD and still exceeds the 300 USD mark: 370.76 USD (versus 357.91 USD last week). LNG bunker price indices are available in the MABUX LNG Bunkering section at www.mabux.com.

The average weekly Global Scrubber Spread (SS) – the difference in price between 380 HSFO and VLSFO – during the week fell below the psychological mark of $ 100 for the first time since May 31 to $ 95.79 (versus $ 100.13 last week). At the same time, the average value of SS Spread in Rotterdam also decreased by $ 4.50 and stopped at $ 100 ($ 104.50 last week). In Singapore, the average SS Spread also fell by $ 3.16 to $ 112.17 ($ 115.33 last week). As of the end of the week, SS Spread remained above the $ 100 mark only in Singapore. More information is available in the MABUX Differentials section at www.mabux.com.

Correlation of MABUX MBP Index (Market Bunker Prices) vs MABUX DBP Index (MABUX Digital Benchmark) in the four global largest hubs over the past week showed that 380 HSFO fuel remained undervalued in all selected ports, except Fujairah, where this fuel grade was overvalued by $ 11 average (versus minus $ 8 last week). In other ports, the average underestimation was minus $ 15 in Houston (minus $ 13 last week), minus $ 31 in Rotterdam (minus $ 30) and minus $ 38 in Singapore (vs. minus $ 35). Overall, the MABUX MBP/DBP Index for 380 HSFO fuel remains stable in all selected ports.

VLSFO fuel grade, according to the MABUX MBP/DBP Index, was also underestimated in all four selected ports: in Houston, the average underpricing was minus $ 11 (minus $ 5 last week), in Rotterdam – minus $ 28 (minus $ 24), in Fujairah – minus $ 35 (versus minus $ 23), in Singapore – minus $ 37 (versus minus $ 32). The most significant change of the MABUX MBP/DBP Index was registered in Fujairah: plus $ 12.

As for MGO LS, on Week 33 the MABUX MBP/DBP Index registered an undercharge of this fuel grade at all selected ports ranging from minus $ 24 (minus $ 17 last week) in Houston to minus $ 61 (unchanged) in Rotterdam, minus $ 78 (vs. $ 72) in Singapore and minus $ 57 (minus $ 55) in Fujairah. Changes of the MABUX MBP/DBP Index for MGO LS fuel were minor in all selected ports.

The International Organization for Standardization (ISO) has published a new standard – ISO 24060 – for a ship software logging system to be used for operational technology onboard ships. The new standard follows on from BIMCO and the Comité International Radio-Maritime (CIRM) taking the concept of the onboard software log to ISO. As per BIMCO, with the new ISO standard, ‘each ship will be able to keep track of information about thousands of different software installations’. The ship software logging system requires an initial log entry for equipment and includes a repository of electronic service reports associated with log entries.

Source: www.mabux.com