Maritime market update: Risavika LNG index down 5.4 % week on week

Risavika LNG index is at 98.65 EUR/MWh for November contracts and down 5.4 % week on week, first time during this season. October has been a month of high volatility in the European gas markets with price spikes still possible during November. Gas supply to the market remains quite tight for the upcoming month, but reduction in demand from flexible consumers has contributed to price adjusting lower at this time. Price movements will highly depend on news about Nord Stream 2 certification development, weather in Northwest Europe and wind production.

Oil product prices were up week on week, the market is retreating from its high levels as inventories showed build in ARA region. Fuel oil 3.5 (FO 3.5) price was down 0.3 % to 458.5 USD/t, while low sulphur oil (MFO 0.5) and marine gasoil (MGO 0.1) gained 1.6 % and 0.6 % to 586.1 USD/t and 724.1 USD/t respectively. However, oil prices are anticipated to remain at high levels due to demand recovery while supply remains tight amid only gradual increase of supply from OPEC+.

Front Month Price index
LNG Risavika*	LBG blend Risavika**	FO 3.5 FOB Rdam	MFO 0.5 FOB Rdam	MGO 0.1 FOB ARA	ULSD FOB ARA	Unit
98.65	101.65	32.87	40.24	49.72	52.40	EUR/MWh
1671.11	1721.93	458.49	586.08	724.14	730.88	USD/t

LNG Risavika - LNG FOB Risavika

LBG Risavika 10 % - 10 % blend of Liquified Biogas

FO 3.5 FOB Rdam – European 3.5% Fuel Oil Barges FOB Rdam (Platts) Futures Quotes

MFO 0.5 FOB Rdam - European FOB Rdam Marine Fuel 0.5% Barges (Platts) Futures Quotes

MGO 0.1 FOB ARA - Gasoil 0.1% Barges FOB ARA (Platts) Futures Quotes

ULSD FOB ARA - European Diesel 10 ppm Barges FOB ARA (Platts) Futures Quotes

Source: CME Group, Gasum, Reuters, Oil price

*An estimate for LNG FOB Risavika

** An estimate for 10 % LBG blend FOB Risavika