• 2020 March 25 10:32

    MABUX: Bunker market this morning, Mar 25

    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 March 24:

    380 HSFO: USD/MT 258.95 (+0.10)
    VLSFO: USD/MT 329.00 (-1.00)
    MGO: USD/MT 416.83 (-2.36)


    Meantime, world oil indexes increased on Mar. 24 as the U.S. indicated the possibility of an alliance with Saudi Arabia to stabilize prices.

    Brent for May settlement increased by $0.12 to $27.15 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for May rose by $0.65 to $24.01 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $3.14 to WTI. Gasoil for April delivery increased by $17.25.

    Today morning oil indexes continue to rise after the American Petroleum Institute (API) reported a drop in the U.S. crude oil supply.

    According to the American Petroleum Institute U.S. oil inventories fell last week, by 1.25 million barrels. That is about 421,000 down the week before. U.S. distillate stockpiles fell by 1.9 million barrels, while gasoline dropped by 2.6 million barrels.

    U.S. Energy Secretary Dan Brouillette hinted on Mar.23 that a U.S.-Saudi oil alliance was one option to stabilize prices as the COVID-19 pandemic continues to shrink demand and the price war between Saudi Arabia and Russia shows no sign of abating.

    At the same time, oil indexes were also supported by steps by the U.S. Federal Reserve to bolster the economy and hopes the United States will soon reach a deal on a $2 trillion coronavirus aid package. The Fed rolled out an array of programmes including backing for the first time corporate bond purchases on Mar.23. U.S. Treasury Secretary Steven Mnuchin voiced confidence that a deal on the aid package would be reached soon. The expected stimulus pushed the U.S. dollar lower against other currencies. A weaker dollar tends to support the price of oil and other dollar-denominated commodities.

    Still, the oil prices are hit by the demand shock caused by the coronavirus outbreak and government restrictions to contain it, and the sudden removal of measures by OPEC and other nations to limit supply. British Prime Minister Boris Johnson ordered Britons on Mar.23 to stay at home to halt the spread of coronavirus, imposing curbs on everyday life without precedent in peacetime.

    Saudi Arabia now plans to boost exports, although flows have yet to increase in March. That means that global oil supply will rise significantly in the next two months

    Wood Mackenzie’s latest analysis reveals that China’s crude stock (including strategic and commercial petroleum reserves) could reach 1.15 billion barrels in 2020, equivalent to 83 days of oil demand. At the same time China is expected to continue importing crude to fill its reserves taking advantage of lower oil prices. But this time, China could build its crude reserves by up to 300,000 barrels per day (b/d) from March 2020 to the end of 2020, due to limitations in storage capacity, as storage capacity utilisation reaches 90% this year. This fill rate is also less than half of what we have seen in the last two years, hence providing less support to oil prices than usual this time

    We expect bunker prices to increase today: 1-3 USD up for IFO, 15-17 USD up for MGO.




2020 April 8

18:36 CMA CGM announces FAK rates from West Med, Adriatic, Black Sea and East Med to the Middle East Gulf & Red Sea
18:06 The Maritime Union of Australia condemn Government for treatment of cruise ship crews
17:36 Estimated March imports at major U.S. retail container ports hit five-year low, declines expected to continue amid pandemic
17:05 PD Ports continues investment in environmentally sustainable technology
16:36 CMA CGM announces FAK rates from West Med, Adriatic, Black Sea & East Med to Far East
16:35 SCHOTTEL EcoPeller deployed in modernization project for first time
16:13 Port of Tallinn reports its 2020 Q1 passenger and cargo flows
16:05 Gimi receives force majeure claim for FLNG from BP Mauritania
15:44 Allseas wins removal contract for multiple North Sea installations
15:40 KMG Inseneriehituse AS to build bridge for Port of Tallinn
15:04 THE Alliance announces COVID-19 response measures for May and June 2020
14:36 Vyborg Shipyard holds steel cutting ceremony for trawler of Project KMT02
14:02 The Kings of Spain check the maintenance of the supply chain in the port of Valencia
13:43 Lotos shipyard to build four dredgers for Russia’s inland water ways
13:21 Port Kolomna signs agreement with RF Ministry of Industry and Trade for ship srapping grant
13:02 North Carolina Ports completes Turning Basin Expansion Project at the Port of Wilmington
12:42 Shipping credit outlook revised to negative: cash crunch worsens as Covid-19 disrupts trade
12:05 Inland terminals at the Port of Hamburg hit by the corona crises differently
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