• 2020 February 24 10:45

    MABUX: Bunker market this morning, Feb 24

    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 downward changes on February 21:

    380 HSFO: USD/MT 367.18 (-0.49)
    VLSFO: USD/MT 538.00 (0.00)
    MGO: USD/MT 599.07 (-1.17)


    Meantime, world oil indexes decreased on Feb.21 as OPEC+ decided not to move its March meeting forward while Russia indicated that it currently has no intentions to cut production further.

    Brent for April settlement decreased by $0.81 to $58.50 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for April fell by $0.50 to $53.38 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $5.12 to WTI. Gasoil for March delivery lost $10.50.

    Today morning oil indexes continue downward trend as concerns about the impact of the coronavirus grew, with the number of infections jumping in South Korea, Italy and Iran.

    Beijing, which already had a death toll of more than 2,000 and more than 45,000 infections from Covid-19, reported 118 new deaths and 1,109 new cases on Feb.21. South Korea's government put the country on high alert after the number of infections surged to over 700 with seven deaths, while in Italy, officials said a third person infected with the virus had died, as the number of cases jumped to above 150 from just three before Friday. Iran said it had confirmed 43 cases and eight deaths, with most of the infections in the Shi'ite Muslim holy city of Qom. Saudi Arabia, Kuwait, Iraq, Turkey and Afghanistan imposed travel and immigration restrictions on the Islamic Republic. In Japan, more than 80 people tested positive for the virus on Feb.21.

    Factory activity in Japan also registered its steepest contraction in seven years in February, hurt by fallout from the outbreak.

    The prospect of a falling out between the Saudi-led OPEC and Moscow, which represents the interests of Russia's state and independent oil producers, also weight on oil indexes. At an emergency meeting earlier in February, Russia rejected a Saudi push to deepen the alliance’s existing oil production curbs by 600,000 barrels a day.

    Russia is in no rush to announce its position on additional cuts proposed by OPEC, as nothing urgent is happening in the oil market and there are two more weeks until the scheduled OPEC, non-OPEC ministerial meeting. At the same time, despite the partial recovery, oil prices are still far below the level many OPEC members need for their budgets to balance.

    Saudi Arabia, Kuwait and the United Arab Emirates — which collectively represent over half of OPEC’s production capacity — have decided to go it alone without Russia on the cuts. They are holding talks to discuss a possible joint output cut of as much as 300,000 bpd. OPEC and its allies are next scheduled to meet in Vienna on March 5-6 to decide on the future of their agreement on production cuts that expires in April.

    Libya’s oil output continues to fall. Libya’s National Oil Corporation (NOC) said on Feb.20 its crude output dropped to 122,424 barrels per day. Oil output in Libya has fallen sharply since Jan. 18 because of a blockade of ports and oil fields by groups loyal to eastern-based commander Khalifa Haftar. NOC said in its statement that total losses because of the blockade exceeded $1.8 billion.

    According Baker Hughes, the number of active U.S. oil rigs rose by one to 679 last week. That followed modest increases in each of the last two weeks. The total active U.S. rig count, also climbed by 1 to 791.

    We expect bunker prices may fall today: 3-5 USD down for IFO, 7-10 USD down 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