• 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.




2024 March 19

12:41 Wartsila Lifecycle Agreement provides operational support and cost savings for Korean container vessels
12:10 MOL, Idemitsu, HIF team up to develop e-fuel/e-methanol supply chain
11:42 MAN CEON digital platform receives Cyber Security Product Design Assessment certification from ABS
11:23 “K” Lline begins participating in joint study on liquefied CO2 marine transportation
10:48 Port of Los Angeles container volume increases 60% in Feb 2024
10:24 PortXL signs a partnership agreement with MINDbase
09:47 IMO to open regional office in Fiji to serve the Pacific

2024 March 18

18:13 Brunvoll propulsion chosen for ESVAGT's growing fleet of SOVs
17:42 ADNOC signs second long-term Heads of Agreement for Ruwais LNG Project
17:37 Cemre Marin Endustri shipyard holds launching ceremony for CMAL's MV Isle of Islay
17:24 Fortescue successfully conducts world’s first use of ammonia as a marine fuel in a dual-fueled ammonia-powered vessel in the Port of Singapore
17:02 APL updates on European Union’s Import Control System 2
16:03 MED Marine contracted to build MED-A2575 series tug for SVS Maritime
15:31 Hanwha Ocean and BV join hands to develop a 270K LNG carrier
15:17 HD Korea Shipbuilding awarded contracts for three VLACs
14:18 Port of Skagen and Stillstrom partner to decarbonise anchorage zone with offshore charging solutions
13:22 Sanmar delivers 6th battery electric power tugboat to Norwegian operator
13:16 COSCO SHIPPING Lines announces the launch of OCEAN Alliance DAY 8 product this year
12:21 Dutch offshore wind farm approved by LR
11:39 ClassNK awards first-ever notation for improvements in living and working environment to Fuyo Kaiun's bulk carrier "ELETTRA"
11:31 Davie strengthens Québec’s shipbuilding industry by supporting the reorientation of AFCDC
10:44 Storylines and Brodosplit shipyard renew ship building contract to construct private residence ship
10:25 BOEM announces environmental review of proposed wind energy project offshore New Jersey
09:51 First ‘flying’ electric ferry to debut in New Zealand in 2025

2024 March 17

16:31 Norwegian Shipowners' Association names Harald Fotland as its President
15:22 ABS Wavesight Nautical Systems now supports fully digital, streamlined SIRE 2.0 inspections
14:15 TechnipFMC selected by NEP to deliver the first all-electric iEPCI for CCS
13:03 US sanctions shipping company, targeting Iran and Houthi rebels
11:01 The first hybrid electric vessel built in South America will use a Corvus battery system
09:47 Kalmar and Forterra sign JDA for autonomous terminal tractor

2024 March 16

16:24 The Netherlands selects Naval Group for its submarine replacement program
15:41 Equinor exercises options to extend four-year drilling contracts
14:17 GONDAN Shipbuilders hosts launching ceremony for Edda Wind's CSOV C503
13:47 Van Oord, Van Aalsburg partner to further develop circular fascine mattresses
12:13 Snam wins "A" raing in CDP's Suppliers Engagement Rating for efforts against climate change
10:54 ULSTEIN unveils new subsea vessel for offshore energy tasks

2024 March 15

18:07 DNV gives nod to Friede & Goldman BargeRack solution
18:02 New partnership enables faster offshore wind installations in the U.S.
17:53 First production line at ‘World’s Largest Monopile Factory’ to go live in July
17:21 Brunvoll DP2 upgrades for more Mokster vessels
16:55 CMA CGM to suspend its calls at Port au Prince, Haiti
16:03 GEFO's LNG DF chemical tanker Tosca gets Green Award
15:19 CEVA Logistics develops new vehicle logistics business at the Port of Dunkirk
14:11 MPA: SaR operation continues for a missing crew member of the Liberia-flagged UTOPIA
13:07 To develop the Far East it makes sense to build a new shipyard in the country’s eastern regions, President Putin said
12:48 World’s first use of ammonia as a marine fuel in a dual-fuelled ammonia-powered vessel in the Port of Singapore
11:39 COSCO Shipping calls Port of Genoa, Italy with 20,000 TEU vessels on regular basis
10:03 DMC contracted to supply rudder systems for the world’s largest PCTCs

2024 March 14

18:04 Shearwater awarded seismic survey for UK carbon capture and storage project
17:15 UAE, world leaders discuss maritime corridor for aid to Gaza
16:05 Marine fuel sales at Singapore drop to a three-month low in February
15:43 World Shipping Council selects NCB for liner shipping Cargo Safety Program
15:00 ZIM reports results for 2023
14:57 DP World announces 2023 results
14:29 HaiSea unveils new operations facility for the world’s greenest tugboat fleet
13:44 DEME awards KENC with engineering and fabrication scope on multiple offshore wind installation projects
13:25 MABUX: Bunker Outlook, Week 11, 2024
12:43 Wartsila Lifecycle Agreement to support optimised low-emission operations for two P&O Ferries vessels
11:35 Hapag-Lloyd transport volumes up by 0.5% to 11.9 million TEU in 2023
10:51 NYK and Astomos Energy christen new dual-fuel LPG carrier
10:25 Port of Long Beach container volume up 24.1% to 674,723 TEUs in Feb 2024

2024 March 13

18:02 Lebanese, French officials float a plan to rebuild Beirut port nearly 4 years after huge explosion
17:23 Ascenz Marorka obtains type approval for cyber-security from Bureau Veritas for its digital solutions
16:58 USDOT announces $500 mln for ports available through the Port Infrastructure Development Program
15:44 RINA wins contract to create global investment plan for cruise sector
15:23 Hede International Shipping enters the Transpacific container trade
14:43 Concordia Damen wins contract to deliver a CDS2410 River Pusher to Transporte Fluviales Frey Bentos
14:13 CMA CGM Group launches its first loyalty program SEA REWARD
13:13 Cargill posts results of the six-month test period of the world’s first wind-powered ocean vessel
12:24 Rotterdam's Gate Terminal sees need for more LNG bunkering capacity at Rotterdam