World News
Scrubber Manufacturer Clean Marine Ramps Up Production on Wider Price Spreads
Scrubber manufacturer Clean Marine is increasing its production of the emissions-cleaning systems on the expectation of wider VLSFO-HSFO price spreads driving demand higher.
The firm expects the spreads -- a measure of how much scrubber-equipped ships can save by burning cheaper HSFO -- to remain 'lucrative' next year, it said in a statement on its website on Thursday.
"We are now ramping up our scrubber installations fully because we believe momentum is building," Nicholas Hvide Macleod, a sales executive at Clean Marine, said in the statement.
"Hi5 spreads look very lucrative going forward."
Ship & Bunker's G20-VLSFO Index of average prices across 20 leading bunkering ports has stood at an average premium to the G20-HSFO Index of $244/mt this year, compared with an average premium of $111.50/mt in 2021.
In Singapore the average VLSFO-HSFO premium has been $283.50/mt, up from $117.50/mt the previous year, according to Ship & Bunker data.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 602.50 | 13.50 | 676.00 | 10.00 |
| Rotterdam | 540.50 | 6.50 | 665.50 | 18.00 |
| Houston | 552.50 | 21.50 | 685.50 | 25.00 |
| Fujairah | 592.50 | 17.50 | 783.00 | 10.00 |
| Global 20 Ports Average | 615.00 | 12.00 | 757.00 | 15.00 |
| Global 4 Ports Average | 572.00 | 14.50 | 702.50 | 16.00 |
| Global Average Bunker Price | 653.00 | 9.50 | 824.50 | 9.50 |
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