• 2020 February 26 10:17

    MABUX: Bunker market this morning, Feb 26

    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 downward changes on Feb. 25:

    380 HSFO - USD/MT 356.51 (-4.31)
    VLSFO - USD/MT 517.00 (-13.00)
    MGO - USD/MT 577.98 (-12.77)


    Meantime, world oil indexes demonstrated irregular changes on Feb.25 amid the growing coronavirus contagion.

    Brent for April settlement decreased by $1.35 to $54.95 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for April fell by $1.53 to $49.90 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $5.05 to WTI. Gasoil for March delivery added $0.25.

    Today morning oil indexes rise slowly amid correction.

    Fears of coronavirus pandemic escalated after the coronavirus spread to more countries, while Iran's virus death toll rose to 16, the highest outside China, and infections worsened in South Korea and Italy. The U.S. Centers for Disease Control and Prevention said a spread of Covid-19 in the U.S. was "inevitable" and warned Americans to prepare for disruptions in their daily lives, leading another mass selling of stocks and buying of bonds. South Korea aims to test more than 200,000 members of a church at the center of a surge in coronavirus cases. The virus is also in the Middle East.

    The head of the International Energy Agency (IEA) said on Feb.25, that the coronavirus outbreak could hit global oil demand growth more than currently expected, adding that the agency could additionally trim its oil demand growth projections. Earlier this month, the IEA said in its Oil Market Report (OMR) that the coronavirus outbreak would lead to the first quarterly contraction in global oil demand in more than 10 years. The IEA slashed its 2020 oil demand growth forecast by 365,000 bpd to just 825,000 bpd—which would be the lowest oil demand growth since 2011. Now, according to the IEA’s Birol, even this lowered projection could be further revised downwards due to the coronavirus outbreak.

    Earlier this month, OPEC also slashed its global oil demand growth forecast for 2020, expecting the coronavirus outbreak to weigh heavily on fuel demand in the world’s oil demand growth driver, China. OPEC slashed its oil demand growth estimate by 230,000 bpd from last month’s assessment and now sees global oil demand growth at just below 1 million bpd this year—at 990,000 bpd.

    Concern about the demand impact from the virus has pushed oil indexes down despite the shutdown of most of Libya's output and a supply pact between the Organization of the Petroleum Exporting Countries (OPEC) and allies. Prices received further support as lawmakers based in areas of eastern Libya on Feb.24 said that they would not participate for now in peace talks.

    Potential support for prices could also come from OPEC and allies including Russia, which are considering whether to curb output further. However, scepticism is growing about the chance of further action. Producers are due to meet in Vienna over March 5-6 to decide policy. Saudi Arabia's energy minister on Feb.25 said OPEC+ should not be complacent about the coronavirus. But Russia has yet to announce its position on further curbs.

    U.S. President Donald Trump has decided to step up a sanctions campaign on Venezuela’s oil sector and will be more aggressive in punishing people and companies that violate it, the top U.S. envoy to the Latin American country said. The United States imposed sanctions to choke off Venezuela’s oil exports in the aftermath of Maduro’s 2018 re-election, which was widely described as fraudulent. But customers in China, India and elsewhere continued importing, so Venezuelan state-oil company PDVSA’s exports only fell by about a third. Washington had not followed through on threats to extend the sanctions on any foreign company doing business with PDVSA – until last week, when it blacklisted Rosneft Trading, a subsidiary of Russian energy giant Rosneft, to pressure Moscow. U.S. Special Representative for Venezuela Elliott Abrams said, that there will be more sanctions as Washington plans to go after continued customers of Venezuelan oil, including those in Asia, and target intermediaries helping Caracas hide the origin of its oil.

    The American Petroleum Institute (API) estimated on Feb.25 a smaller than anticipated crude oil inventory build of 1.3 million barrels for the week ending February 21, compared to expectations of a 2.467-million-barrel  build.

    We expect bunker prices may demonstrate irregular changes today: 5-8 USD down for IFO, Prices for MGO may change in a range of plus/minus 1-3 USD.




2020 March 30

18:30 Ecochlor announces collaboration with Horizon Air Freight to expand shipping services
18:15 Inmarsat takes founding role in first Decarbonising Shipping programme for Asian start-ups
18:05 Start of cruise season in Kiel to be postponed until end of April
17:57 Globaltrans’ profit for 2019 climbed 16% YoY to RUB 22.7 billion
17:03 CMA CGM announces PSS from Romania to the Mediterranean
16:35 OOCL announces Transpacific product update
16:20 About 40 small- and mid-size ships to be built for Russia’s Far East by 2025
16:03 ClassNK releases Guidelines for Non-destructive Inspection by Phased Array Ultrasonic Testing
15:45 Gasum to supply Preem with renewable maritime fuel
15:24 Two ferries operate between seaports of Kaliningrad and Ust-Luga
15:03 NuStar extends Svitzer contract in Point Tupper, Canada, by five years
14:58 5G innovation put to a practical use in the Port of Zeebrugge
14:46 Global Ports terminals add new transit intermodal service from Europe to Asia via Russia
14:28 BPO and BTJ prepared overview of measures introduced in ports and shipping lines within Baltic Sea region
14:02 Port Houston posts cargo volume results for Feb 2020
13:51 Average wholesale prices for М-100 HFO fell to RUB 8,177 in RF spot market
13:20 Wärtsilä signs agreement with Kuribayashi Steamship in Japan for deployment of innovative gate rudder technology
13:10 Maersk’s first intercontinental train from Europe to Asia dispatched from St. Petersburg
13:03 Tianjin Port Development announces 2019 unaudited annual results
12:29 United Shipbuilding Corporation establishes center for prevention of Covid-19 spread
12:02 Ports of Bremen fully functioning
11:37 Abu Dhabi, UAE to host ADIPEC 2020 on November 9-12
11:12 MABUX Digest: Top events on global bunker market. Week 13
11:02 First-stage land usage permit issued to APM Terminals Poti
10:50 KN moves its LNG Terminal from its normal location due to cleaning work
10:28 Port of Riga reports no significant changes in cargo handling
10:21 Panama Canal backs efforts to expedite return home of the passengers and crew on Holland America’s Zaandam
10:04 NCSP Group published its consolidated financial results for 12 months 2019
09:41 MABUX: Bunker market this morning, Mar 30
09:26 RF Government limits crossing of state border checkpoints
09:09 Baltic Dry Index is down to 556 points

2020 March 29

16:29 Coast Guard and a salvage towing company rescued three people near Key Largo
14:35 AAM to complete construction of the first hydrogen fuel cell vessel in the U.S.
13:17 Fischer Panda UK introduces standardised FP Control across new models
12:03 USCG responds to grounded container vessel in Mississippi River
11:52 Stena Bulk performs a test running an MR tanker on 100% biofuel

2020 March 28

15:13 Belov Engenharia Ltda to operate Robert Allan designed DSV for Petrobras
13:42 Valaris received a termination notice for the drilling contract for VALARIS DS-8
12:47 SCHOTTEL wins propulsion contract to equip U.S. Navy vessels
11:31 VT Halter Marine to execrise an option for forth APL(S)
10:53 USCG Cutter Polar Star returns home from Operation Deep Freeze 2020

2020 March 27

18:37 Kim Heng Marine & Oilfield incorporates JV Bridgewater Marine (Taiwan)
18:14 Port of Antwerp Covid-19 Taskforce: supply chains still working
17:52 Oboronlogistics delivers materials and equipment for construction of medical center in Kaliningrad Region
17:29 Exercise involving three frigates of RF Navy’s Black Sea Fleet took place in Mediterranean Sea
17:05 Philippine Ports Authority imposes entry protocol in offices, ports in fight against COVID-19
16:43 Admiralteiskie Verfi launches lead freezing trawler of Project СТ-192 built for Russian Fishery Company
16:21 Arthur Sedov appointed as Managing Director of Rosterminalugol
16:05 Cosco Shipping Ports announces full year results for 2019
15:58 Gazpromneft Ocean marine oils are available in South Korea
15:44 The world's most powerful semi-submersible crane vessel receives the largest LNG bunkering in the Port of Rotterdam
15:27 Navigation on middle Volga and Volga-Baltic Canal to be opened ahead of schedule
15:04 Maritime and Port Authority of Singapore to provide economic relief to passenger vessel owners and operators
14:40 Severnaya Verf lays down fifth processing trawler of Project 170701 ordered by NOREBO Group
14:16 VPower Group is new distributor for Rolls-Royce’s MTU solutions in China
13:55 Russia’s foreign trade cargo to be completely redirected to domestic ports by 2022-2023 - Rosmorrechflot
13:06 Russian bunkering market meets demand for low-sulphur fuel – RF Transport Ministry
12:28 Port of Gdansk is fully operational
11:33 Rosmorport's Arkhangelsk Branch takes measures to prevent COVID-2019 spread
11:09 Diana Shipping announces time charter contract for m/v P. S. Palios with C Transport