• 2020 January 2 11:57

    MABUX: Bunker market this morning, Jan 02

    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 insignificant changes in the end of  2019:

    380 HSFO: USD/MT – 378.01 (-0.19)
    VLSFO: USD/MT – 655.00 (0.00)
    MGO: USD/MT – 713.01 (+0.94)


    On January 1, 2020, emission limits came into force (IMO 2020). The situation in various regions of the world remains not entirely clear in terms of the availability of new 0.5% fuels, as well as in terms of prices for new fuel. In some ports there is a situation that the price of VLSFO is higher than traditional MGO. This situation may last for the next few weeks (months?) until the market comes to a balanced state.

    Meantime, world oil indexes dropped on Dec.31, but notched the biggest annual gain in three years, supported by a thaw in the prolonged U.S.-China trade war and ongoing supply cuts from major oil producers.

    Brent for March settlement dropped by $2.44 to $66.00 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for February decreased by $0.62 to $61.06 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $4.94 to WTI. Gasoil for January delivery lost $9.00.

    Today morning global oil indexes demonstrate slight upward trend.

    Brent gained about 23% in 2019 and WTI rose 34%, their biggest yearly gains in three years, backed by the recent breakthrough in the trade talks and output cuts pledged by the Organization of the Petroleum Exporting Countries (OPEC) and its allies. Forecasters do not expect oil prices to move sharply in either direction next year. Brent crude is expected to hover around $63 a barrel, down modestly from current levels, as OPEC production cuts offset weaker demand.

    U.S. President Donald Trump said the Phase 1 trade deal with China would be signed on Jan. 15 at the White House. Signs of progress on the deal had boosted China’s factory output and manufacturing activity in the country expanded for a second straight month.

    The Iranian Offshore Oil Company (IOOC) is currently implementing US$2.6 billion worth of projects expected to boost Iran’s offshore oil production by 85,000 barrels per day (bpd). The Iranian state-held offshore oil firm has awarded various projects to Iranian service contractors. The contracts include work on drilling, completion, and repair of 40 wells, as well as the construction and installation of wellhead equipment and five offshore platforms. Work is being done to boost oil production at the Siri field in the Persian Gulf under a contract with an Iranian company. Iran continues to export oil, especially to China, but it has drastically increased the secrecy of how it ships that oil abroad and says that it is using every means possible to export its crude.

    China issued the first batch of oil product export quotas for 2020 and they are 53 percent higher than this year’s. At 28 million tons, the oil product export quotas will likely deepen an already serious glut of oil products on Asian markets that have eaten into refiner’s bottom lines. The quotas were issued to five state oil companies. It will be up to each of the companies to decide which fuels make what portion of their total quota, unlike in previous years. There has been mounting concern among refiners in other Asian countries during most of this year that surplus fuel production in China would spill into neighboring countries, undermining the profit margins of local refiners.

    Gazprom and Ukraine’s Naftogaz finally reached a deal on the transit of Russian natural gas through Ukraine to Europe. There was concern in Europe that the two may fail to reach an agreement that would affect Russian gas deliveries to Europe given the tense political relations—and legal disputes—between the neighbors but, once again, pragmatism seems to have prevailed. The good news for Ukraine, for whom gas transit fees are vitally important, is that the agreement includes stipulations about guaranteed volumes of gas that Gazprom will send across Ukraine. These are 65 billion cubic meters for 2020, falling to 40 billion cubic meters for the period between 2021 and 2024. Gazprom has a 36-percent share of the European natural gas market, with European exports outside the former Soviet Union averaging 200 billion cubic meters. Of this, 86.8 billion cubic meters were transited through Ukraine last year.

    Late Tuesday, the American Petroleum Institute (API) reported crude oil supplies fell by 7.8 million barrels for the week-ended December 27, to 436 million barrels.  Traders were looking for a draw of 3.2 million barrels. Crude stocks at the Cushing, Oklahoma, futures delivery hub fell by 1.4 million barrels, and refinery crude runs rose by 74,000 barrels per day, the API data showed. U.S. crude imports fell last week by 447,000 barrels per day to 5.97 million bpd.

    We expect bunker prices may start the year with a downward trend in a range of minus 3-9 USD.




2020 February 25

15:49 RF Navy’s Baltic Fleet starts preparing for "Sea Cup" competition
14:58 Gazprom Neft’s net profit exceeds RUB400 billion in 2019
14:33 World Bank presents results of its study on prospects for strengthening Ukraine’s port sector governance
14:05 Marakeb Technologies and Fincantieri sign MOU for unmanned technology collaboration
13:27 THE Alliance announces details of 2020 Middle East service network
12:42 Container Terminal Saint-Petersburg upgrades its fleet of production equipment
12:17 COSCO SHIPPING Lines maintains logistics chain for international trade
12:01 KSS Line adds one new VLGC model after four vessels in 2019
11:25 DP World acquires the largest multi-purpose deep-sea marine terminal on the West Coast of North America
11:16 PPA scores big in latest survey, continues to veer away from 'corruption' tag
10:43 World Maritime University signs MoU with Maritime Academy of Asia and the Pacific
10:15 Logistics specialist leases Newport Docks warehouse
10:14 CMA CGM announces PSS from Europe, Scandinavia, Black Sea & West Med to Reunion, Mauritius, Mayotte, Comoros, Seychelles & Madagascar
10:09 MABUX: Bunker market this morning, Feb 25
09:51 Throughput of port Shanghai (China) in Jan’20 fell by 13.2% to 41.75 million tonnes
09:30 Brent Crude futures price is up 0.3% to $55.94, Light Sweet Crude – up 0.39% to $51.63
09:12 Baltic Dry Index is up to 506 points

2020 February 24

16:43 MOL and DSME sign joint development agreement for environmental friendly FSRU technology
15:06 Wilhelmsen Group's fourth-generation owner Wilhelm Wilhelmsen dies
14:53 MABUX Digest: Top events on global bunker market. Week 08
12:54 Milaha participates in ‘Made in Qatar 2020’ Exhibition as a Gold Sponsor
10:45 MABUX: Bunker market this morning, Feb 24
10:11 DOF Subsea posts Q4 operating income of NOK 1,349 million

2020 February 23

15:01 Great Lakes reports record full year results
14:32 AAM completes 80’ patrol vessel for the Texas Parks and Wildlife Dep't
13:37 EDS HV Group completes scope of work at Vattenfall’s HR3 wind farm
12:23 Ingeteam signs the contract with Yantai CIMC Raffles Offshore for hybrid electric propulsion system delivery of two Ro-Ro vessels
11:21 USCG, other agencies to conduct search and rescue exercise near Perdido Bay

2020 February 22

17:14 First Subsea provide Cable Protection Systems for NnG
14:48 Med Marine: Turkish-built tug equipped with SCHOTTEL bestseller
13:41 CSBA study finds U.S. dredging industry a critical component of national security
11:39 USCG Cutter Legare returns home after interdicting over 3,300 pounds of drugs
10:47 Ray Fitzgerald to rejoin Crowley as COO

2020 February 21

18:12 Digitization of KN: paper is no longer used in the operation of Klaipėda LNG terminal
17:48 NIBULON Shipyard is about to launch second non-self-propelled open type vessel
17:17 CMA CGM announces Emergency Space Surcharge from North Europe, Scandinavia & Poland to West Med, East Med, Adriatic & North Africa
16:59 New roll trailers put into operation at Bronka port
16:04 AS Tallink Grupp’s wholly-owned subsidiary AS Hansatee Cargo merged with Group’s wholly-owned subsidiary AS Tallink
15:25 Russia's Main Department of State Expertise approved adjusted design documentation under Nord Stream 2 project
15:02 OCEAN Industries orders MAN Propulsion Packages for Royal Canadian Navy tugs
14:13 Diana Shipping announces time charter contract for m/v Coronis with Koch and cancellation of the sale of a Capesize dry bulk vessel
13:01 COSCO SHIPPING Lines provides water and rail transport services
12:40 Wärtsilä LPG Fuel Supply System the first ever to undergo engine testing
12:12 ABS to class world’s largest B-Tank VLECs by Jiangnan
11:30 Coronavirus disease 2019 – IMO urges no unnecessary delays to ships
11:09 World’s first LPG-retrofit order exercises option for four additional engines
10:44 MABUX: Bunker market this morning, Feb 21
10:43 Biofouling demands collective, urgent and ‘proactive’ approach, stresses Bellona
10:09 Cod farming set for rebound as savvy investors rush to back Norcod
09:55 Bunker prices are slightly down at the port of Saint-Petersburg, Russia
09:43 GTT acquires Icelandic company Marorka, an expert in Smart Shipping
09:35 BlueWater Reporting closely monitoring blanked sailings amid coronavirus outbreak
09:34 Brent Crude futures price is down 0.73% to $58.88, Light Sweet Crude – down 0.61% to $53.55
09:16 Baltic Dry Index is up to 480 points

2020 February 20

18:27 SMOOTH PORTS Partners met and discussed in Livorno
18:07 UNIIQ invests in Tetrahedron’s innovative crane for next-gen wind turbines
17:52 RF Navy’s Admiral Kasatonov frigate left for Barents Sea to continue testing
17:30 Evergreen issues notice for reefer cargo to Shanghai、Ningbo and Xingang, China
17:17 Tersan Shipyard (Turkey) delivers lead crab catching and processing ship of Project ST184
17:00 West Africa Container Terminal to commence Phase 2 upgrade