• 2019 December 5 12:17

    MABUX: Bunker market this morning, Dec 05

    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 December 04:

    380 HSFO: USD/MT – 335.42 (-0.20)
    180 HSFO: USD/MT – 380.04 (+0.62)
    MGO: USD/MT – 665.58 (-0.78)


    Meantime, world oil indexes jumped on Dec.04. on expectations that OPEC and allied producers would extend production curbs, and as U.S. government data showed a large drop in domestic crude stockpiles

    Brent for February settlement increased by $2.18 to $63.00 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for January delivery rose by $2.33 to $58.42 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $4.57 to WTI. Gasoil for December delivery added $13.23.

    Today morning oil indexes deep ahead of OPEC talks in Vienna later today.

    The Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia could approve deeper crude output cuts when they meet in Vienna this week. Iraqi oil minister Thamer Ghadhban told that a deeper cut is being preferred by a number of key members. He added he would support at least extending existing cuts to end-2020 from March. However, some remained skeptical of whether OPEC+ will deepen cuts, though many expect an extension of the existing supply pact. OPEC members meet today, with the OPEC+ group meeting the following day. OPEC+ has been curbing supply since 2017 and is expected to keep the cuts in place to balance out record production in the United States. Prices briefly dipped after a report that Saudi Arabia is threatening to boost oil production unilaterally if some OPEC nations continue to defy the group’s output curbs. Saudi Arabia has been bearing the brunt of the cuts, while some members, like Russia, Nigeria and Iraq, are still not in complete compliance

    The J.P. Morgan forecasts that the deal will be for cuts of 1.5 million barrels a day, extended through June. The ongoing agreement between OPEC, Russia and other non-OPEC producers is for a 1.2 million barrel a day reduction. Larger cuts should make the market tighter and help boost prices. U.S. shale production has surged to 12.9 million barrels a day, while OPEC and its partners have held oil off the market. Goldman Sachs oil analysts expect OPEC plus to keep its production cut at current levels and to extend them through June, when the OPEC plus group is next scheduled to meet. The Goldman analysts expect oil prices to be choppy around this week’s meeting because there is so much uncertainty about what the producers will do. At the same time, Fitch Solutions said oil prices are likely to fall next year as oil supplies keep rising, outweighing any pickup in growth. It predicted Brent crude will drop to an average of $62 a barrel in 2020 and $58 in 2021, from a $64 average this year.

    According to the Energy Information Administration said U.S. crude stocks fell by 4.9 million barrels in the week to Nov. 29 as refineries hiked output. It was expected a decrease of 1.7 million barrels. Crude stocks at the Cushing, Oklahoma, delivery hub fell by 302,000 barrels, EIA said.

    AT the same time refinery crude runs rose by 464,000 barrels per day, EIA data showed. Refinery utilization rates rose by 2.6 percentage points. Gasoline stocks rose by 3.4 million barrels, compared with expectations for a 1.8 million-barrel gain. Distillate stockpiles, which include diesel and heating oil, rose by 3.1 million barrels, versus expectations for a 1.1 million-barrel increase. Net U.S. crude imports rose last week by 144,000 barrels per day. The U.S. four-week average for commercial crude oil imports fell to its lowest since 1992.

    The uncertainty over prospects for a trade deal between the United States and China still remain. The dispute between the world’s two biggest economies has weakened the global economy and limited oil demand growth. U.S. President Donald Trump said on Dec.04 that trade talks with China were going “very well,” sounding more positive than he did a day earlier when he said a deal may have to wait until after the 2020 election.

    We expect bunker prices may demonstrate upward changes today: 6-8 USD up for IFO, 6-9 USD up for MGO.




2020 January 28

18:05 Cheniere Energy celebrates 1000th LNG cargo milestone
17:40 NYK establishes first exclusive RORO terminal in Egypt
17:30 Global Ports Holding’s JV buys remaining shares of Malaga Cruise Port concession
15:43 Severnaya Verf starts cutting metal for fifth processing trawler of Project 170701 ordered by NOREBO Group
15:02 Hyundai's Engine Machinery Division announces the completion of the first shop test for the first of six ME-GI engines for container ships for Eastern Pacific Shipping
14:38 Metal Shark delivers patrol boat to Puerto Rico customer
14:16 Bunker prices are stable at the Far East ports of Russia following the recent growth (graph)
14:02 CMA CGM has announced FAK rates from Middle East Gulf and Pakistan to North Europe and the Mediterranean
13:27 Cheniere Energy celebrates 1000th LNG cargo milestone
13:02 Diversification of Poland’s natural gas supply sources and directions is progressing
12:35 Vostochnaya Stevedoring Company starts shipping trains to Elektrougli of Moscow Railways
12:01 Carisbrooke takes D.I.Y approach to BWT compliance with Optimarin for huge savings, efficiency and on-schedule operations
12:00 IMO and WISTA to promote greater diversity in the maritime sector
11:41 New video highlights benefits of working with IMO
11:19 Damen develops new concept vessel – the Offshore Support Vessel (OSV) 9020
11:07 Rainmaking partners maritime giants with tech startups to energise innovation
10:39 Tallink and Silja Line to establish annual summer cruise to Saint-Petersburg
10:16 Ships of RF Navy's Baltic Fleet assisted the crew of a foreign yacht in the Gulf of Aden
10:02 MABUX: Bunker market this morning, Jan 28
09:54 Dredging and Hydraulic Engineering Structures Congress will feature engineering ships buyers subordinate to Rosmorrechflot
09:33 Brent Crude futures price is down 0.41% to $58.34, Light Sweet Crude – down 0.28% to $52.99
09:18 Baltic Dry Index is down to 546 points

2020 January 27

18:07 Port of Oostende, DEME Concessions and PMV announce exclusive partnership for green hydrogen plant in Ostend
17:35 Fincantieri announces the launching ceremony of the "Emilio Bianchi" frigate
17:19 Semco Maritime wins rig order for Seadrill
17:02 Baltic Workboats’ PILOT 15 WP wins Small Pilot Boat Award for 2019
16:39 Port of King’s Lynn seals new deal with leading recycling specialist
15:57 Two main engines loaded onto lead chemical carrier of Project 00216М named PortNews
15:04 Seaspan closes purchase of a fleet of six containerships
14:48 Average wholesale prices for М-100 HFO up to RUB 10,737 in RF spot market
14:24 Royal Navy to present exclusive updates on NavyX at Unmanned Maritime Systems Technology 2020
14:01 High Speed Transfers takes delivery of fourth Damen Fast Crew Supplier 2710 in 18 months
13:35 Northern Fleet detachment leaves Mediterranean sea
13:13 Baltic Fleet guard ship Yaroslav Mudryi calls at the port of Oman
12:51 Klaipėda Port remains an important centre-line of the national economics
12:26 Largest ports of Latvia change their focus and intend to make investments to improve their competitiveness
11:10 Vladivostok Sea Fishing Port handled 4.59 million tonnes of cargo in 2019, up 1.5% Y-o-Y
09:59 Victor Golomolzin takes the helm of Oktyabrskaya Railway
09:37 Brent Crude futures price is down 3.41% to $58.62, Light Sweet Crude – down 2.29% to $52.95
09:37 MABUX: Bunker market this morning, Jan 27
09:18 Baltic Dry Index is down to 557 points
09:06 CMA CGM cancelled PSS for cargo from Asia to North Africa
08:33 Port of Gothenburg container volumes up three per cent to 772,000 TEUs in 2019

2020 January 26

16:34 Harley Marine Services changes name to Centerline Logistics Corp
15:13 Island Class ferries move to Point Hope Maritime in Victoria
14:16 Wärtsilä integrated solutions will deliver efficiency and sustainability to three new short-sea vessels
13:32 USCG suspends search for missing person near Dauphin Island
12:03 Fincantieri strengthens the strategic partnership with Qatar
11:39 New LINKSPAN 7 arrives in Dublin Port
10:47 DOF Subsea awarded contracts in Australia

2020 January 25

16:11 “Flower Power” from Sanmar and Robert Allan Ltd. – 200 Tugs and Counting
15:27 USCG Cutter Polar Star arrives in Antarctica
13:11 TORM orders two scrubber-fitted LR2 newbuildings
12:47 USCG opens Blue Technology Center of Expertise
10:47 Hamburg Süd’s COO Frank Smet to step down
08:31 NORDEN signs charter for more women in shipping

2020 January 24

18:07 Port of Hamburg not expecting reduction in container throughput caused by liner service changes announced by Ocean Alliance and Maersk
17:42 First ship-to-ship LNG bunkering operation in the Port of Rostock
17:40 Engineering troops to develop a plant for desalination of water in the Arctic
17:16 Gasum completes 200th ship-to-ship LNG bunkering