• 2020 January 29 09:49

    MABUX: Bunker market this morning, Jan 29

    The Bunker Review was contributed by Marine Bunker Exchange (MABUX)

    MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO (Gasoil) in the main world hubs continued to decline on January 28:

    380 HSFO: USD/MT – 372.55 (-5.59)
    VLSFO: USD/MT – 591.00 (-8.00)
    MGO: USD/MT – 634.83 (-9.99)


    Meantime, world oil indexes rose on Jan.28 gaining support from talk that OPEC and its allies might tighten the market amid fears the coronavirus could weigh on oil demand.

    Brent for March settlement increased by $0.19 to $59.51 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for March rose by $0.34 to $53.48 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $6.03 to WTI. Gasoil for February delivery added $13.50.

    Today morning oil indexes continue slight upward evolution on talk that OPEC could extend oil cuts and data showing a decline in U.S. stockpiles. The main driver that weights oil indexes is a virus in China. However, the output outages in Libya and OPEC comments calmed the market.

    OPEC wants to extend oil production cuts until at least June from March, and may deepen the reductions should demand for oil in China be significantly reduced by the spread of the virus. As the oil price fell below that seen during a December meeting of the OPEC+, Saudi Arabia said that the group could respond to any changes in demand. Saudi and other OPEC producers, however, sought to downplay demand concerns resulting from the virus outbreak.

    The remarks followed a statement on Jan.27 from Saudi Arabia’s oil minister, Prince Abdulaziz bin Salman, aimed at calming the market after crude dropped below $59/b amid fears of a wider economic impact of the virus. He said, the kingdom has the capability and flexibility needed to respond to any developments, by taking the necessary actions to support oil market stability, if the situation so requires.

    The United States and other countries warned against travel to China as the coronavirus death toll rose to more than 100 and after the virus was detected in more than a dozen countries outside China. There are some concerns that travel advisories, other restrictions and any sizable impact on growth in China and elsewhere will dampen demand for crude and related products against a backdrop of plentiful supply.

    China’s already weakening economy is set to take another hit with businesses across the country remaining shut for an extended public holiday and tourism grinding to a halt, as authorities struggle to contain the pneumonia like coronavirus that has spread across the nation.

    In Libya the output is down by nearly 75% to just below 300,000 bpd amid the most extensive oil blockade for years. Some say, OPEC probably does not need to do anything as long as Libya continues to be shut.

    According to the American Petroleum Institute, stockpiles of U.S. crude fell sharply last week by 4.3 million, compared with build of 1.6 million reported last week. The Energy Information Administration reports the official government numbers later today.

    We expect bunker prices may increase today: 1-3 USD up for IFO, 10-13 USD up for MGO.




2020 February 29

12:27 Huntington Ingalls reaches important milestone in construction of CVN 79
11:47 USCG conducts operation at U.S. Virgin Islands ferry terminals
10:51 Sanmar delivers Robert Allan-designed ASD tug to Rimorchiatori Riuniti
08:07 BW LPG declares option for additional LPG dual-fuel engines, bringing total investment to twelve
07:03 CMA CGM announces FAK rates from Asia to North Europe

2020 February 28

18:17 CMA CGM announces FAK rates from North Europe to Canada
18:12 Onezhsky Shipyard launches second hybrid workboat for Rosmorport
17:30 COSCO SHIPPING successfully completes the first bauxite shipping mission for CHINALCO’s project in Guinea
17:06 CMA CGM announces FAK rates from North Europe to USEC, USGULF and USWC
16:54 Glavgosexpertiza approved construction of Arctic LNG 2 facilities
16:52 ICHCA International, the International Cargo Handling Coordination Association, and the Association of Bulk Terminal Operators sign MOU
16:11 Shipbuilding and Shiprepair Yard RIF conducted sea trials for its HDP boat of Project Rif-75 PKZ
15:47 LNG fuelled ore carrier proves to be commercially viable, SEA-LNG study shows
15:20 FESCO Board expanded to nine members
14:16 Panahon presence boosts PISR in the Far East
13:49 Norwegian Shipowners' Association issued sustainability reporting guidelines for shipping and offshore industries
13:13 Johan Röstin steps down as CEO of ForSea
12:36 RF Navy's ship Admiral Vladimirsky completed oceanographic research in Bellingshausen Sea
12:10 Polskie LNG launches Open Season Process for Świnoujście LNG Terminal
11:47 Port of Antwerp launches Bulkchain collaboration platform
11:02 Diana Shipping announces the sale of a Capesize dry bulk vessel, the m/v Norfolk
10:41 IMO developed guidelines for taking onboard samples of fuel from ships
10:18 Fincantieri launches the first corvette for Qatar
10:07 Pathways to achieve IMO's Initial GHG Strategy goals discussed at dedicated workshop hosted by WMU
09:40 Brent Crude futures price is down 2.51% to $50.43, Light Sweet Crude – down 2.68% to $45.83
09:29 The construction of new deepwater berths of cruise terminal at Piraeus Port starts
09:21 MABUX: Bunker market this morning, Feb 28
09:14 Baltic Dry Index is down to 529 points
08:32 CMA CGM announces PSS for cargo from North Europe to Asia

2020 February 27

18:05 European yards specify Thordon System as standard for deck machinery
17:48 IMO's GloFouling Partnership project tackles problem of invasive aquatic species in Sri Lanka
17:29 Tallink Grupp reports nearly 25% higher net profit for the full financial year 2019
17:05 AquaTerra acquires Subsea Engineering and Technical Services
16:51 Zelenodolsk Shipyard named after A.M. Gorky laid down passenger ship Chaika LNG
16:35 Vale clarifies incident with contracted vessel
16:04 NYK Cruises to cancel cruises due to coronavirus
15:30 Average physical depreciation of Rosmorport’s berthing facilities is 24%
15:07 National Association of Shipping Agencies addresses FAS over plans on multiple increase of port dues in Russia
14:56 Arbitration award related to purchase options for four VLCCs on charter to Okeanis ECO Tankers
14:43 ASCO strengthened preventive measures against coronavirus
14:19 ASCO takes necessary precautionary measures to prevent environmental damage
13:55 Rotterdam to host ACI’s 24th Ballast Water Management Conference on 7-8 April 2020
13:53 Ørsted signs 20-year lease with Port of Taichung for Greater Changhua offshore wind farms
13:34 Vysotsk VTS obtains Certificate of Conformity
13:12 Xeneta container rates alert: long-term contracted rates hold despite Coronavirus chaos
12:56 Certificate of Conformity obtained for Ust-Luga VTS
12:33 Finnlines published its 2019 Financial Statements and Financial Review
12:10 A.P. Moller - Maersk links new $5.0bn revolving credit facility to its CO2 performance
11:52 Port of Gdynia seeks opportunities for further development
11:28 Rosmorport’s Murmansk Branch performed pilotage of Capesize vessel
11:04 Rosmorport to complete dredging under NOVATEK’s project in Petropavlovsk-Kamchatsky by April 2021
10:41 3rd Technical Conference "Modern Solutions for Hydraulic Engineering" kicks off in Moscow
10:35 Ships of RF Navy’s Baltic Fleet continue performing planned training as part of its long-distance campaign
10:16 Port of Oakland debt ratings affirmed by Fitch
10:13 Brent Crude futures price is down 1.52% to $51.99, Light Sweet Crude – fell to 1.54% to $47.98
09:56 Hydrographic Department to dredge about 20 million cbm of material on Sabetta’s seaway canal in 2020
09:34 Marine Recruiting Agency LLC trained 1,957 specialists in 2019, up 2.6% YoY
09:32 MABUX: Bunker market this morning, Feb 27
09:15 Baltic Dry Index is up to 517 points

2020 February 26

18:37 Royal IHC to supply integrated power cablelay spread