• 2019 November 14 10:16

    MABUX: Bunker market this morning, Nov 14

    The Bunker Review was contributed by Marine Bunker Exchange (MABUX)

    MABUX World Bunker Index (consists of a range of prices for 380 HSFO, 180 HSFO and MGO (Gasoil) in the main world hubs) slightly decreased on Nov.13:

    380 HSFO - USD/MT – 342.15 (-2.93)
    180 HSFO - USD/MT – 386.39 (-1.00)
    MGO - USD/MT – 661.33 (-1.57)


    Meantime, world oil indexes turned into moderate upward movement on Nov.13 after OPEC said it saw no signs of global recession and rival U.S. shale oil production could grow by much less than expected in 2020.

    Brent for January settlement increased by $0.31 to $62.37 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for December delivery rose by $0.32 to $57.12 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $5.25 to WTI. Gasoil for November delivery gained $0.25.

    Today morning oil indexes continue slight upward trend.

    The Secretary General of the Organization of the Petroleum Exporting Countries, Mohammad Barkindo, said global economic fundamentals remained strong and that he was still confident the United States and China would reach a trade deal. He also said some U.S. companies were now saying U.S. oil production would grow by just 0.3-0.4 million barrels per day next year - or less than half of previous expectations - reducing the risk of an oil glut next year.

    U.S. President Donald Trump said on Nov.13 that the U.S. and China were close to finalizing a trade deal, but he fell short of providing a date or venue for the signing ceremony.

    As per the IEA report, until about 2025 global oil demand will expand by about 1 percent annually, exceeding 100 million bpd and reaching 105.4 million bpd. After that growth will shrink substantially and demand will reach a plateau at less than 110 million bpd—106.4 million bpd. Also, according to IEA, natural depletion will shrink oil supply and lead to an increase in prices. These, the agency said, could average $90 a barrel in 2030 and $103 a barrel in 2040. Agency also said that even as production growth in the United States slows from breakneck pace of recent years, the world's top oil producer will still account for 85% of the increase in global oil production to 2030, and for 30% of the increase in gas. The higher U.S. output pushes down the share of OPEC members and Russia in total oil production, which is expected to fall to 47% in 2030 from 55% in the mid-2000s.

    France, Germany, Britain, Russia, China, Iran as well as the US discussed a new framework at the UN General Assembly in late September. The proposed new deal would have Iran permanently abjuring nuclear weapons, conforming to a long-term framework of peaceful nuclear technology, and contributing to regional stability and noninterference in return for the US lifting sanctions. Restricting the Islamic Republic’s ballistic missiles was set aside for future discussion. There is no any visible reaction from Iran so far.  

    In the United States, crude oil inventories were forecast to have risen for a third straight week last week, while refined products inventories likely declined. The forecast expects that crude inventories rose by around 1.6 million barrels in the week to Nov. 8.

    The Power of Siberia gas pipeline that will bring Russian natural gas to China, and will start operations in December. The Power of Siberia, one of the largest natural gas pipeline projects in the world, will transport natural gas from the Irkutsk and Yakutia production centers to consumers in Russia’s Far East and to China. Gazprom is dominating gas supplies to many European markets, while it also vies to meet rising Chinese natural gas demand as the country is in the middle of a massive switch from coal-fired to gas-fired heating in millions of homes. Gazprom expects its market share in China to grow from zero to more than 25 percent of Chinese gas imports and to account for 13 percent of China’s gas consumption by 2035. By that year, Gazprom vies to be the number one gas supplier to both Europe and China.

    The American Petroleum Institute (API) has estimated a crude oil inventory draw of 500,000 barrels for the week ending November 7, compared to analyst expectations of a 1.649-million-barrel build. Last week saw a build in crude oil inventories of 4.26 million barrels, according to API data. The EIA’s estimates, however, reported a build of 7.9-million barrels for that week. US crude oil production as estimated by the Energy Information Administration showed that production for the week ending November 1 stayed at the all-time high of 12.6 million bpd for the fifth week in a row.

    We expect bunker prices may rise today in a range of plus 1-4 USD.




2019 December 16

11:09 CMA CGM announces FAK rates from Asia to North Europe
10:52 Port of HaminaKotka throughput in Jan-Nov’2019 grew by 11% Y-o-Y to 16.53 million tonnes
10:31 Bunker sales at the port of Singapore in Jan-Nov’2019 fell by 5.5% Y-o-Y to 43 million tonnes
10:10 Port of Singapore throughput in Jan-Nov’2019 declined by 0.5% to 572.73 million tonnes
10:09 Keppel delivers another jackup rig to Grupo R with sale and leaseback deal
09:47 Brent Crude futures price is down 0.35% to $64.98, Light Sweet Crude – down 0.38% to $59.75
09:29 Baltic Dry Index is down to 1,355 points
09:18 CMA CGM announces partnership with Shell to supply marine biofuel to its fleet

2019 December 15

16:41 Coast Guard reopens La Quinta Channel near Ingleside, Texas
15:22 Total moves forward on two deepwater projects in the U.S. Gulf of Mexico
14:05 SAL Heavy Lift becomes world’s first to equip vessels with new hydrogen / methanol injection technology
13:16 Nauticor’s "Kairos" received the first LNG bunker license in the Port of Rostock Hamburg
12:01 USCG begins ice breaking operations in western Great Lakes
11:48 Iridium continues GMDSS readiness with announcement of launch partners
10:41 Farid Salem honored by the Lloyd’s List Lifetime Achievement Award

2019 December 14

15:48 USCG returns majority of New York Waterway ferries to service
14:31 SK Telecom and SHI successfully verified 5G-powered autonomous and remote control navigation test platform using a test ship
13:19 Mitsubishi Corporation participates in FPSO project in Brazil
11:54 SEA\LNG's study underlines LNG as a compelling investment solution for VLCCs on the Arabian Gulf to China trade route
10:46 GTT Training receives the ‘LNG World Shipping Safety Award 2019’
08:55 Draft strategy for development of Russia’s Arctic through 2035 to be presented to Vladimir Putin by year end

2019 December 13

18:17 New ecological equipment enters berths of Multipurpose Reloading Complex in Ust-Luga
17:22 Total's Mozambique LNG Project gets $400 mln loan from African Development Bank
17:03 Port of Los Angeles and Indonesia Port Corporation sign cooperative agreement
16:33 ABB wins contract to power Genting’s next-generation cruise vessels
16:12 ABB completes delivery for the world's most advanced icebreaking LNG carrier fleet
16:03 Windermere Lake Cruises new vessel launched in Damen Technical Cooperation project
15:33 MacGregor deck handling solution supports China’s Xue Long 2 icebreaker operation
15:12 Polarcus awarded 10-month acquisition program offshore Brazil
14:32 Rotterdam Port Fund invests in Fleet Cleaner
14:11 Subsea 7 awarded contract offshore Norway
13:43 Moín Container Terminal reaches 1 million TEUs
13:31 New container terminal opens in northern Italy
13:05 Aker Solutions to provide subsea production system for phase two of Aker BP's Ærfugl
12:30 Jifmar Offshore Services acquires Delta Marine
12:04 SBM Offshore signs FPSO Sepetiba contracts
11:30 Abu Dhabi Ports announces AED 4Bn expansion projects at Khalifa Port on its 7th Anniversary
11:27 Damen signs contract with Cotecmar for DTC hydrographic research vessel
11:12 WMU and EMSA cooperate on capacity building and research
11:03 SAL Heavy Lift becomes world’s first to equip vessels with new hydrogen / methanol injection technology
10:48 Murmansk Sea Fishing Port handled 245,000 tonnes of cargo in 11M’2019, down 20.7% Y-o-Y
10:34 Overseas Shipholding Group and American Shipping Company jointly announce extension of tanker charters
10:24 WMU President reports to the IMO Assembly
09:59 Kawasaki Heavy Industries launches the world's first liquefied hydrogen carrier
09:43 MABUX: Bunker market this morning, December 13
09:29 Brent Crude futures price is up 0.65% to $64.62, Light Sweet Crude – up 0.52% to $59.49
09:13 Baltic Dry Index is down to 1,388 points

2019 December 12

18:36 EBRD finances Tekirdag port on Turkey’s Sea of Marmara
18:05 Dutch Drone Delta established with Port of Rotterdam Authority support
17:51 Port of Southampton continues infrastructure investment with £3m crane
17:30 Baltic Workboats shipyard delivers 19 WP Oilrec workboat
17:05 The European Federation of Inland Ports welcomes the Green Deal for Europe
16:46 MOL orders 2 next-generation 'EeneX' coal carriers
16:43 Throughput of port Kaliningrad in Jan-Nov’2019 fell by 21% Y-o-Y to 10.20 million tonnes
16:26 Klaipėda LNG terminal welcomed three large and four small LNG vessels in November
16:05 Air quality sensor in the Port of Rotterdam checks sulphur emissions from shipping
15:57 Throughput of port Vyborg in Jan-Nov’2019 fell by 35% Y-o-Y to 1.12 million tonnes
15:34 Alewijnse wins electrical contracts for two additional Combi Freighters at Damen Yichang Shipyard
15:00 Throughput of port Vysotsk in Jan-Nov'2019 climbed by 6% Y-o-Y to 17.90 million tonnes
14:36 Krasnoye Sormovo shipyard launches dry cargo carrier Pola Anastasia of Project RSD59