• 2020 January 17 10:36

    MABUX: Bunker market this morning, Jan 17

    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 January 16:

    380 HSFO: USD/MT 383.83 (-1.68)
    VLSFO: USD/MT – 635.00 (-4.00)
    MGO: USD/MT – 677.87 (-3.08)


    Meantime, world oil indexes increased on Jan.16 buoyed by the long-anticipated signing of an initial Sino-U.S. trade deal that sets the stage for a jump in Chinese purchases of American energy products, while U.S. crude inventories fell more than expected.

    Brent for March settlement increased by $0.62 to $64.62 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for February rose by $0.71 to $58.52 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $6.10 to WTI. Gasoil for February delivery increased by $0.25.

    Today morning oil indexes slight down.

    Under the so-called Phase 1 deal to call a truce in a trade war between the world's two biggest economies, China committed to buying over $50 billion more of U.S. oil, liquefied natural gas and other energy products over two years. At the same time, some said China could struggle to meet the target and gains in oil are likely to be limited ahead of more detail on how the commitments will be achieved.

    Official U.S. data showed a much bigger than expected drop in crude oil inventories, which also helped to underpin prices. According to the Energy Information Administration (EIA), oil inventories fell by 2.5 million barrels, compared with analyst expectations of a drop of 500,000 barrels. Gasoline stocks rose by 6.7 million barrels and distillate stocks were up by 8.2 million barrels. U.S. crude production also rose to a record 13 million barrels per day.

    Oil prices are returning to range trading as the threat of conflict between Iran and the U.S. receded further after they traded missile and drone attacks earlier this month. In a reassuring note to the market, the International Energy Agency (IEA) said surging oil production from non-OPEC countries along with abundant global stocks will help the market weather political shocks such as the U.S.-Iran stand-off.

    In its monthly report, the IEA said it expected production to outstrip demand for crude from the OPEC even if members comply fully with a pact with Russia and other non-OPEC allies to curb output. US oil production growth will slow to 1.06 million b/d this year and drop further to 410,000 b/d in 2021 as rig counts remain low, but efficiency and well-level productivity both continue to rise. At the same time, EIA estimates US oil production averaging 13.3 million b/d in 2020 and 13.71 million b/d in 2021in its first Short-Term Energy Outlook with 2021 predictions.

    According to IEA, crude supplies from Iraq, the Middle East’s second-biggest producer, are “potentially vulnerable", amid rising political risks in the country and the broader region. Iraq’s oil exports have doubled during the last decade to reach 4 million barrels a day. Iraq’s fragile security situation may limit its plans to expand oil-production capacity in the medium-term, making it difficult for the global industry to meet rising demand in the second half of the decade. The IEA left its global demand forecast for this year unchanged, a day after OPEC cut its forecast by a modest 50,000 barrels a day.

    Key OPEC Gulf member the United Arab Emirates and the group’s ally Russia said on Jan. 15 they were still committed to meeting in March to decide on future production policies. Earlier it was said, that OPEC+ have started consultations on extending the current output-cutting deal until June without holding a meeting in March. The energy minister of de facto OPEC leader Saudi Arabia, Prince Abdulaziz bin Salman, also said that OPEC+ will meet in March and it was too early to say what decision it would take. Some say, it would be very unusual, if not unprecedented, for OPEC to extend production cuts without holding a meeting, three OPEC sources said.

    We expect bunker prices to demonstrate slight upward changes: 2-4 USD up for IFO, 1-3 USD up for MGO.




2020 February 18

14:07 Volga Shipping Company to convert three tankers into dry cargo carriers in 2020
13:24 DP World to delist from Nasdaq Dubai
12:48 Bunker prices go down at the Far East ports of Russia (graph)
12:10 E.ON, Rotterdam Port Authority and DeltaPort Niederrheinhäfen agree to develop an infrastructure for freight and passenger ships
11:04 GTT receives two orders from Hyundai Samho Heavy Industries and Hyundai Heavy Industries
10:52 Average wholesale prices for М-100 HFO grew to RUB 10,253 in RF spot market
10:21 MABUX: Bunker market this morning, Feb 18
10:19 Linkspan connection/disconnection service tariff changed at Ust-Luga ferry terminal
09:54 Divers of RF Navy's Black Sea Fleet started preparing for "Depth-2020" competition
09:33 Brent Crude futures price is down 1.13% to $57.02, Light Sweet Crude – down 0.76% to $51.92
09:15 Baltic Dry Index is up to 434 points

2020 February 17

18:37 CMA CGM announces FAK rates from Middle East Gulf & Pakistan to North Europe, the Mediterranean and Red Sea & Red Sea
18:06 European Shipping Week 2020 opens with the latest figures on European shipping
17:50 Gazprom Neft’s supplies of low-sulphur marine fuel to domestic market to exceed 1.5 million tonnes in 2020
17:36 SCHOTTEL secures contract to provide propulsion units for a newly built harbour tug
17:18 BlueWater Reporting issues ISC-North America trade report
17:05 Saga Subsea receives new contract
16:30 IMO’s Sub-Committee on Pollution Prevention and Response meets this week
16:05 Reach Subsea awarded several contracts and call-offs under frame agreements for 2020 execution
15:54 Wärtsilä to supply customized Hybrid Scrubber solution to two Norwegian Cruise Line ships
15:06 Sea Port of Saint-Petersburg's allocations under its social programme totaled RUB 47 million in 2019
14:42 Container throughput of Hong Kong port (China) fell by 20.4% to 1.35 million TEUs in Jan’2020
14:17 Damen holds keel-laying ceremony for Nigerian Navy landing craft
13:38 WFW advices BPER BANCA on Marittima Emiliana financing
13:35 RusHydro and Kemerovo Region Government sign cooperation agreement to complete construction of Krapivinskiy hydroelectric complex
12:09 CMA CGM announces implementation of Panama Canal Adjustment Factor
11:05 Sea Port of Saint-Petersburg took part in Kirovsky District exhibition
10:31 Bunker sales at the port of Singapore in Jan’2020 grew by 7.5% Y-o-Y to 4.51 million tonnes
10:17 Diana Shipping Inc. announces cancellation of the sale of a panamax dry bulk vessel, the M/V Calipso
10:03 MABUX: Bunker market this morning, Feb 17
09:50 Port of Singapore throughput in Jan’2020 declined by 2.1% to 50.88 million tonnes
09:36 Brent Crude futures price is down 0.28% to $57.16, Light Sweet Crude – down 0.1% to $52.27
09:34 CMA CGM announces FAK rates from India and Sri Lanka to North Europe and the Mediterranean
09:19 Fincantieri delivers “Scarlet Lady”, the first Virgin Voyages ship
09:18 Baltic Dry Index is up to 425 points
09:04 Works starts on new Rolls-Royce Peterborough facility to support the Canadian surface combatant program
07:15 IAA PortNews congratulates Vyacheslav Ruksha, Deputy Director of Rosatom - Director of Rosatom’s NSR Directorate, on his birthday!

2020 February 16

16:15 Two new oceanographic vessels will join the NOAA fleet
15:13 TenneT develops first 2GW offshore grid connection with suppliers
14:52 USCG issues Captain of the Port Orders to Bouchard Transportation Vessels
13:12 Siemens builds Germany’s largest “power outlet” for ships for Port of Kiel
12:34 Naval Group presents its industrial and academic cooperation plan with Greece
11:16 MARAD announces more than $280 million in grants for US coastal seaports

2020 February 15

14:51 Holland Shipyards holds keel-laying ceremony for new electric ferry
13:27 USCG takes delivery of Cutter Edgar Culbertson
12:43 Virgin Voyages celebrates delivery of Scarlet Lady
11:15 European Commission working visit in the context of Military Mobility

2020 February 14

18:37 OOCL updates Trans-Pacific services
18:07 Canada plans to support ban on heavy fuel oil in Arctic shipping
17:49 Rates of transport security dues approved for Rosmorport’s Azov-Black Sea Basin
17:26 Reconstruction of the historic FG levee completed at the Port of Riga
17:05 Vado Gateway terminal commences operations
16:51 Commissioning ceremony of Offshore Patrol Vessel PNS YARMOOK
16:35 PIL to exit Transpacific market to focus on North-South trade
16:08 Keel of Wasaline’s new ferry was laid at Rauma shipyard
15:44 Rauma Marine Constructions to partner with Aalto University looking to cut emissions and increase safety in seafaring
15:19 Nauticor, Fassmer start LNG cooperation with Atair bunkering
14:21 Global Ports launches Ust-Luga – Moscow rail container service
13:57 Zvezda shipyard starts building yet another Aframax tanker for Rosnefteflot
13:35 Port of Ipswich celebrates tonnage-handling record for largest independent producer of sand and gravel in the UK