• 2019 November 21 09:39

    MABUX: Bunker market this morning, Nov 21

    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 downward changes on Nov 21:

    380 HSFO: USD/MT – 332.73 (-5.56)
    180 HSFO: USD/MT – 377.13 (-5.61)
    MGO: USD/MT – 656.27 (-4.24)


    Meantime, world oil indexes increased on Nov.20 as U.S. stocks raised less, then expected.

    Brent for January settlement increased by $1.49 to $62.40 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for January delivery rose by $1.90 to $57.05 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $5.29 to WTI. Gasoil for December delivery increased by $6.25.

    Today morning oil indexes fell retreating after gaining more than 2% in the previous session.

    The Energy Information Administration reported that U.S. crude stockpiles rose by 1.38 million barrels last week. The market was expecting a build of about 1.54 million barrels

    The main drivers on the market are still uncertainty over the trade talks and what Russia’s and OPEC’s plan concerning the production cut deal.

    U.S. President Donald Trump said on Nov.20 the United States is continuing to talk to China but gave no other details, as both sides tried to hammer out a phase one trade deal ahead of looming U.S. tariffs due next month. Trump last month announced an agreement for an initial trade deal with Beijing but no formal agreement has been released. The pact had initially been expected to be signed by mid-November, but now it is likely to be delayed to the next year as Beijing presses for more extensive tariff rollbacks, and the Trump administration counters with heightened demands of its own.

    Some said Trump wants deeper concessions from China in order to roll back existing tariffs and cancel additional tariffs on some $156 billion in Chinese consumer goods scheduled to take effect Dec. 15. On Nov.19, Trump also threatened to raise tariffs if no deal is reached with Beijing.

    At the same time, the Federal Reserve indicating in its October meeting released that it might be done with rate cuts for this year. That also supported oil indications.

    Russian President Vladimir Putin’s declared that Moscow will support OPEC in whatever way necessary on production cuts when the cartel holds its meeting next month. Russia is part of the OPEC+ alliance, formed with the 14-member Organization of the Petroleum Exporting Countries, which has committed to keeping 1.2 million barrels per day of supply off the market for price support.

    The views of the three big oil forecasting agencies on changes in inventory levels next year have diverged over the past month, as the outlook from two of them becomes slightly more positive for producers. The International Energy Agency (IEA), the U.S. Energy Information Administration (EIA) and the Organization of Petroleum Exporting Countries (OPEC) all still see global oil inventories building in the first half of 2020, if OPEC+ producers continue pumping as they have been, but the EIA and OPEC have both cut the size of the build. They have also become a little more positive for the second half of 2020. All three still see inventories growing over 2020 as a whole, but the build seen by OPEC is now negligible, at just 60,000 bpd, while that seen by the EIA has been trimmed to 300,000 bbl from last month’s 340,000 bbl.

    Russian energy minister Alexander Novak said on Nov.20 he wants new volumes of gas condensate to be excluded from Russia’s quota as part of its oil output pact with OPEC. Novak’s remarks come as Russia’s output of condensate — a potentially high-value petroleum liquid — is expected to grow strongly in coming years as it expands its output of liquefied natural gas from new giant projects in the Arctic Circle. He thinks this should be discussed with OPEC+, since gas condensate is not being exported, we think it shouldn’t be included.

    We expect bunker prices may demonstrate upward changes today: US$ 5-7 up for IFO, US$ 5-7 up for MGO.




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
14:12 CMA CGM announces FAK Reefer Rates from North Europe to Asia and Middle East
13:53 Bunker market sees mixed price movements at the Far East ports of Russia (graph)
13:31 NLNG signs sales deal with Vitol SA
13:12 Austal USA delivers USNS Puerto Rico to U.S. NAVY
12:49 Throughput of port Primorsk in Jan-Nov’2019 grew by 16% Y-o-Y to 56.25 million tonnes
12:24 Lead nuclear-powered icebreaker of Project 22220, Arktika, left for sea trials
12:00 ABS publishes Fuel Cell Guidance to support industry decarbonization objectives
11:38 Port of Ust-Luga handled 95.31 million tonnes in 11M’18, up 6% Y-o-Y
11:13 Throughput of Port St. Petersburg in 11M'2019 grew by 2% to 55.01 million tonnes
11:10 Verifavia Shipping undertakes IHM services for 29 Attica Group vessels
10:56 Wärtsilä to divest its ELAC Nautik business
10:49 Throughput of port Riga (Latvia) in 11M’2019 fell by 9.4% Y-o-Y to 30 million tonnes
10:26 TransContainer dispatched test train from Korea to Poland
10:05 MABUX: Bunker market this morning, Dec 12
09:47 Brent Crude futures price is up 0.41% to $63.98, Light Sweet Crude – up 0.14% to $58.84