• 2020 February 20 10:24

    MABUX: Bunker market this morning, Feb 20

    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 demonstrated irregular changes on February 19:

    380 HSFO: USD/MT 364.61 (+1.96)
    VLSFO: USD/MT 533.00 (-2.00)
    MGO: USD/MT 594.74 (-2.19)


    Meantime, world oil indexes increased on Feb. 19 amid broad optimism as new coronavirus cases fell for a second day in China and concerns rose over supply after a U.S. move to cut more Venezuelan crude from the market.

    Brent for April settlement increased by $1.37 to $59.12 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for April rose by $1.24 to $53.29 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $5.83 to WTI. Gasoil for March delivery added $13.00.

    Today morning oil indexes continue to rise as the market shifted focus to supply disruptions, while demand concerns eased after a sharp drop in new coronavirus cases at the epicenter of the outbreak.

    China is still struggling to get manufacturing going again in the world's second-largest economy, after imposing stringent city lockdowns and travel restrictions to contain the virus that has now killed more than 2,000 people, but the market remains optimistic that the economic fallout may be short-lived. Official data showed that new cases in China fell for a second straight day, although the World Health Organization has cautioned there is not enough data to know if the epidemic was being contained.

    Oil indexes were also supported by a U.S. decision on Feb.18 to blacklist a trading subsidiary of Russia's Rosneft. The United States slapped sanctions on Rosneft Trading SA, the Geneva-based unit. The restrictions come with a three-month wind-down period that expires May, 20. Washington said Rosneft have maintained ties with Venezuela’s Nicolas Maduro and its state-run oil company, while the Russian producer called the sanctions illegal and ungrounded.

    Also, there are still hopes that the Organization of the Petroleum Exporting Countries (OPEC) and its allies will deepen supply cuts. The groupe, known as OPEC+, has been withholding supply to support prices and meets next month to decide a response to the downturn in demand resulting from the coronavirus epidemic. OPEC+ members are due to meet in Vienna on March 5-6 to discuss next steps on supporting the market from the impact of Covid-19.

    But in the U.S., which is not party to any supply cut agreements, crude oil production has been rising as shale output grows. Shale production in the U.S. is expected to rise to a record 9.2 million barrels a day next month, according to the Energy Information Administration.

    Escalating tensions in Libya threatened global crude supply. Libya’s oil output is down to less than 125,000 b/d, a drop of more than 90% since the Libyan National Army imposed a blockade on the country’s five export terminals on January 18. The total cumulative loss amounts to 29.4 million barrels, or $1.74 billion. NOC Chairman Mustafa Sanalla has warned that output would plummet to just 72,000 b/d “very soon” if the LNA blockade continued. The self-styled LNA has been jostling for power with the UN-backed Government of National Accord. NOC has declared force majeure on exports from five key export terminals that were shut by the LNA, which controls Libya’s oil and gas infrastructure but lacks control over the sale and distribution of revenue.

    Meanwhile, U.S. industry data showing a bigger-than-expected build in crude oil inventories helped to cap the price gains. U.S. crude stocks rose by 4.16 million barrels last week, compared with analyst expectations for a build of 2.5 million barrels, according to the American Petroleum Institute.

    We expect bunker prices may rise today: 4-6 USD up for IFO, 10-13 USD up for MGO.




2020 April 8

11:30 IAPH Tokyo secretariat transited to remote work from home
11:05 SAFEEN acquires its largest service vessel to date
11:02 BC Ferries adjusted service levels due to Covid-19 pandemic
10:39 ABB increases remote support for ships to help customers during the COVID-19 outbreak
10:38 Port of Gdansk actively supports fight against coronavirus
10:16 Tallink Grupp’s vessels Megastar, Galaxy and Baltic Princess suspend passenger transport to Finland
09:53 MABUX: Bunker market this morning, Apr 08
09:40 Bunker prices start going up at the port of Saint-Petersburg, Russia
09:19 Baltic Dry Index is down to 596 points
08:47 Golden Ocean announces appointment of Ulrik Uhrenfeldt Andersen as CEO

2020 April 7

18:38 RF Government makes big decision to quit transshipment of NOVATEK’s LNG in Norway
17:27 BashVolgotanker opens navigation with first tanker leaving Samara for Kavkaz
17:03 IADC moves its seminar and course to 2nd half of 2020
16:49 RF Navy’s oceanographic research vessel "Admiral Vladimirsky" arrived in the Durville Sea
16:05 ECSA and ETF launch joint project WESS
15:51 Bunker prices are flat at the Far East ports of Russia (graph)
15:43 Port of Rotterdam adds Boxinsider to Portbase
15:28 Dredging works at LNG terminal in Klaipeda Seaport completed ahead of schedule
15:04 VTT to assess bio- and waste-based oils suitable for power plants and ships
14:43 Nordic Investment Bank is sponsoring expansion of Klaipeda Seaport
14:20 AET and TOTAL agree time charter for two LNG dual-fuel VLCCs
13:52 Rosmorport changed tariffs on crew boats services rendered in seaports of Eysk and Temryuk
13:29 Krasnoye Sormovo shipyard introduced short-time operation till 30 April 2020
12:54 Rosmorport announces tender to reconstruct coastal facilities of Vanino-Kholmsk ferry service
12:26 Rosmorport announces tender to build and reconstruct port infrastructure in Nikolskoye settlement
11:47 Hydrographic vessel of RF Navy’s Pacific Fleet continues its long-distance cruise to Antarctica
11:09 Hurtigruten temporarily suspends operations
10:25 Brent Crude futures price is up 3% to $34.04, Light Sweet Crude – up 3.53% to $27
10:08 Stena Line to furlough 600 employees and make 150 redundant in UK and the Republic of Ireland due to COVID-19
09:53 Extraordinary security measures undertaken by PORT FLEET operating in Big Port St. Petersburg
09:34 Nuclear-powered container carrier Sevmorput unloaded cargo for Arctic LNG 2 project
09:16 Baltic Dry Index is down to 604 points
09:02 Austria's overseas traffic via Hamburg remains stable
08:46 MABUX: Bunker market this morning, Apr 07
08:19 LR chosen for LNG Canada export terminal project in Kitimat

2020 April 6

18:37 Okeanis Eco Tankers announces three year VLCC time charter
18:06 Bureau Veritas helps to manage risk thanks to digitalized inspection services
17:45 Turnover of DeloPorts terminals in January-March of 2020 reached 2.6 mln tonnes, up 44% YoY
17:39 The production of Tallink’s new car and passenger ferry MyStar has started at Rauma shipyard
17:12 Maersk Container Industry signs first Star Cool milestone contract with Evergreen
17:06 Lloyd’s Register completes six-day, three-person audit for marine and offshore component and equipment business Whittaker Engineering
16:30 8,800 cbm of material dredged in Korsakov seaport
16:08 MABUX Digest: Top events on global bunker market: Week 14
16:06 CMA CGM cancels PSS for cargo from East Africa to Asia
15:59 The Korean Register releases the latest updated version of KR-CON
14:50 DNV GL’s new MMC unlocks unprecedented machinery efficiencies and insights
13:57 Technical fleet of Moscow Canal to begin navigation season on April 24
13:33 Construction of Tallink Grupp’s newest eco-friendly LNG-powered shuttle ferry to begin at RMC shipyard in Rauma
12:46 World Ports Covid19 Information Portal established
12:22 IMO issues guidance for delays in newbuild vessel deliveries due to COVID-19
12:00 Nanjing Jinling Shipyard launches the second of G5GG ro-ro vessels for Grimaldi Group
11:18 Average wholesale prices for М-100 HFO fell to RUB 6,299 in RF spot market
11:00 Port of Singapore remains open amidst additional precautionary measures
10:21 Brent Crude futures price is down 1.61% to $33.56, Light Sweet Crude – down 3.18% to $27.43
10:09 NovaAlgoma Short Sea Carriers takes delivery of new mini-bulker
09:50 CIMC Raffles cuts first steel for largest Ice Class ro-ro
09:34 MABUX: Bunker market this morning, Apr 06
09:32 RF Government approves draft Energy Strategy until 2035
09:15 Baltic Dry Index is down to 616 points

2020 April 5

17:08 USCG oversees disembarkation of 250,000 from cruise ships