• 2019 November 15 09:39

    MABUX: Bunker market this morning, Nov 15

    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) demonstrated irregular changes on Nov 14:

    380 HSFO - USD/MT 337.89 (-4.26)
    180 HSFO - USD/MT – 381.42 (-4.97)
    MGO - USD/MT – 663.21 (+1.88)


    Meantime, world oil indexes also demonstrated multidirectional changes after the Energy Information Administration reported a crude oil inventory increase for the last week.

    Brent for January settlement decreased by $0.09 to $62.28 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for December delivery fell by $0.35 to $56.77 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $5.51 to WTI. Gasoil for December delivery increased by $5.50.

    Today morning oil indexes rise as OPEC's outlook for oil demand next year added hopes that the producer group and its associates will keep a lid on supply when they meet to discuss policy on output next month.

    The Organization of the Petroleum Exporting Countries (OPEC) said on Thursday it expected demand for its oil to fall in 2020.OPEC on Nov.14 pointed to a smaller surplus in the oil market next year. In a monthly report, OPEC said demand for its crude will average 29.58 million bpd next year, 1.12 million bpd less than in 2019. The drop in demand could press the case for the Organization of the Petroleum Exporting Countries and its allies to maintain supply curbs at a meeting on Dec. 5-6. Still, the report kept its 2020 economic and oil demand growth forecasts steady.

    According to the Energy Information Administration U.S. oil inventories rose by 2.2 million barrels for the week ended Nov. 8, compared with expectations for a build of 1.65 million barrels. Gasoline inventories rose by nearly 1.9 million barrels, versus expectations for a drop of 1.17 million barrels. Distillate stockpiles fell by about 2.5 million barrels, compared with forecasts for a decline of 950,000 barrels. Crude production rose by 200,000 barrels per day (bpd) to a weekly record of 12.8 million bpd, the data showed. The inventory numbers were released a day later due to Monday’s federal holiday for Veterans Day.

    Moreover, U.S. crude oil output will grow more than expected in 2019 and 2020, the U.S. Energy Information Administration forecasted this week. U.S. oil production is expected to rise to 12.29 million barrels per day this year, 30,000 bpd more than the EIA forecast last month. U.S. oil output is expected to rise an additional million bpd to 13.29 million bpd in 2020.

    The agency increased its forecast for U.S. demand for petroleum and other liquid fuels this year to 20.58 million bpd, reflecting an annual demand increase of 80,000 bpd compared with last month’s forecast for 40,000 bpd. Petroleum and liquid fuels demand is expected to rise 170,000 bpd to 20.75 million bpd in 2020, the agency said.

    On a positive note, signs of improving trade relations between the U.S. and China, a potential agreement on Brexit after the UK's general election, and a stabilization of the downward slope in major emerging economies could stabilize growth at the current forecast level.
    OPEC’s Secretary General Mohammad Barkindo, commented, that the outlook in 2020 could surprise to the upside, citing prospects for a resolution of the trade dispute and lower non-OPEC supply.

    Optimism that the United States and China could soon sign an agreement to end their trade war also seeped into the market after White House economic adviser Larry Kudlow said a deal was "getting close", citing what he called very constructive discussions with Beijing.

    We expect bunker prices may demonstrate irregular changes today: US$ 1-3 down for IFO, US$ 3-5 up for MGO.




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