• 2020 July 3 09:20

    MABUX: Bunker market this morning, July 03

    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 increased on July 02:

    380 HSFO - USD/MT 291.01 (+2.32)
    VLSFO - USD/MT 348.00 (+3.00)
    MGO - USD/MT 421.33 (+3.39)


    Meantime, world oil indexes also demonstrated upward changes on July 02, supported by a drop in U.S. unemployment and a drawdown in crude inventories, but the spike in U.S. coronavirus infections fanned concerns that economic activity will weaken in coming weeks.

    Brent for September settlement increased by $1.11 to $43.14 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for August rose by $0.83 to $40.65 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $2.39 to WTI. Gasoil for July delivery added $5.50.

    Today morning oil indexes decrease on the back of a resurgence of COVID-19 globally. Spikes recorded in 37 U.S. states further hindered fuel demand recovery in the U.S., the world’s largest oil consumer.

    New COVID-19 cases in the United States rose by nearly 50,000 on Jul.02, the biggest one-day spike since the start of the pandemic. Numerous states are advising citizens to restrict movements and closing bars and restaurants again, which is expected to hamper further job growth. Data shows that some 2.8 million Americans have already been infected by the Covid-19, with a death toll exceeding 131,000.  A new model by the University of Washington also predicts 200,000 coronavirus deaths in the United States by Oct. 1, casting further doubts on economic reopening from lockdowns. As a sign of how seriously the world was viewing the U.S. outbreak, the European Union reopened its borders to visitors from 15 countries earlier this week, but excluded Americans.

    At the same time, prices were supported by the U.S. economic data. U.S. non-farm payrolls increased by 4.8 million in June, the Labor Department reported, beating expectations, even as permanent job losses rose. The upbeat jobs numbers for June garnered much of the attention across markets. But continuing weekly jobless claims increased, suggesting a large part of the labor market still hasn't come back.

    U.S. Energy Information Administration data showed, that crude inventories fell 7.2 million barrels from a record high last week (far more than analysts had expected) as refiners ramped up production and imports eased. Gasoline stockpiles were higher, however, and the spike in COVID-19 cases in heavily populated U.S. Sun Belt states (Alabama, Arizona, Florida, Georgia, Louisiana, Mississippi, New Mexico, South Carolina, Texas, roughly two-thirds of California), among the country's biggest consumers of gasoline, could hit fuel demand headed into the July 4 holiday weekend, often a busy period for road travel. Crude production, meanwhile, remained unflinching at an estimated 11 million barrels per day.

    Baker Hughes reported on Jul.02 that the number of oil and gas rigs in the US fell again this week, by 2, to 263, showing the second small loss in the number of active rigs in as many weeks after a long streak of major losses. The total oil and gas rigs is now 700 fewer than this time last year. The number of active oil and gas rigs in the United States has continued to decline over the last seventeen weeks. At the same time, The number of oil rigs decreased for the week by 3 rigs, bringing the total to 185—compared to 788 active rigs this time last year. The total number of active gas rigs in the United States rose this week by a single rig, landing at 76 total rigs. This compares to 174 rigs a year ago.

    We expect bunker prices may demonstrate upward changes today: 5-8 USD up for IFO, 3-5 USD up for MGO.




2024 May 15

18:07 MOL holds naming ceremony for newbuilding LNG carrier Greenergy Ocean to serve China National Offshore Oil Corporation
17:30 ClassNK and StormGeo mark significant collaboration to advance maritime decarbonization
17:02 Newly certified methanol valves to improve dual-fuel shipbuilding
16:45 HD KSOE to lease Subic shipyard in Philippines
16:25 Eidsvaag receives two forage carrier vessels designed and equipped by Kongsberg Maritime
15:58 ADNOC delivers first ever bulk shipment of CCS-enabled certified low-carbon ammonia to Japan
15:35 World's 1st wind challenger-equipped coal carrier achieves fuel savings of 17%
14:57 LR to support the retrofit of two Stena Line ferries to methanol
13:52 Port of Los Angeles nets record $58 million for harbor maintenance
13:32 CMA CGM to launch MCX - West Coast Central America
12:51 Port of Long Beach cargo volumes up 14.4% in April
12:21 First Ro-Pax vessel receives DNV Silent notation following successful sea trials with Wartsila propellers
11:41 Hapag-Lloyd transport volumes increased by 6.8 percent to 3 million TEU in Q1 2024
11:10 Cavotec signs two-year service agreement with Port of Salalah
10:41 China overtakes Korea in global shipbuilding competitiveness
09:58 The ports of Rotterdam and Delft join the CLARION project

2024 May 14

18:02 ICTSI to invest in new Southern Luzon gateway
17:31 ACL, BG Freight Line and Peel Ports Group start container service between Ireland and North America
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16:31 Port of Gothenburg launches the platform "Digital Port Call"
16:18 NS United, NSY, Imabari Shipbuilding and Japan Marine United Corporation sign MOU for the construction of Cape-size bulk carriers using dual methanol fuel
15:56 Port of Antwerp-Bruges launches the world's first methanol-powered tugboat
15:29 The Ports of Barcelona and Shanghai will work together on innovation and decarbonisation projects
13:55 AD Ports Group announces Q1 results
12:58 NYK, NBP, TSUNEISHI SHIPBUILDING and Drax sign MOU to develop ‘bioship’ technology and plans to construct the world’s first biomass-fuelled ship
11:30 Maris Fiducia team up with HAV Hydrogen, Norwegian Hydrogen and Ankerbeer for zero emission bulk shipping
11:05 ABS and HD Hyundai Group sign MOU to advance medium-voltage power systems on ships
10:43 Finnlines’ new freight-passenger Superstar-class vessel Finnsirius awarded by Shippax
10:23 Kongsberg Maritime to design and equip two new salmon farm forage carrier vessels for Norwegian coastal cargo carrier Eidsvaag AS
09:48 Yara International and Kongsberg Digital enter collaboration on digital twin technology

2024 May 13

18:00 Capital dredging commences for Lowestoft Eastern Energy Facility
17:06 Berlin’s oldest passenger vessel enters a new green era powered by Torqeedo
16:22 Russia’s seaborne diesel trading partners shifted after Feb 2023 sanctions
16:18 Denis Manturov: Russian shipyards to deliver more than 110 civil ships this year
16:05 CMA CGM and China’s Contemporary Amperex Technology plan to set up joint venture
15:39 Yara Clean Ammonia and AM Green sign term sheet for sale of renewable ammonia from India to Yara Clean Ammonia’s global market
15:23 Maersk suspends methanol ship order to Chinese shipbuilder
14:59 Hamad Port сontainer volumes up 30% in 2023
14:04 Hanwha buys S’pore Dyna-Mac’s stake for $73.8 mn from Keppel
13:41 The EU plans to allocate more than $220 million to combat drug trafficking in ports
13:08 Subsea Integration Alliance awarded contract offshore Turkey
11:46 India to sign 10-year Chabahar port pact with Iran
10:22 QatarEnergy to acquire two new exploration blocks offshore Egypt
09:51 IMO promotes safe ship recycling in Bangladesh

2024 May 12

16:09 Yang Ming reports net profit of US$ 298.42 million for Q1 2024
15:13 Drydocks World unveils major propeller repair enhancements and new facilities
14:06 NYK launches trial to utilize 3D models in design of new LPG tanker
13:29 GCMD and NYK Line team up to address concerns of long-term, continuous biofuels use on vessel operations
12:13 State-of-the-art ammonia reforming technology from Amogy verified by ABS
11:41 MABUX: Bunker Outlook, Week 19, 2024
11:38 MOL joins project to develop frozen and refrigerated warehouse in Singapore
10:52 Jan De Nul EBITDA rose 39% to 610 million euro in 2023

2024 May 11

18:01 Drewry: Investments surge on strong demand outlook for LNG bunkering
17:19 Seatrium signs multi-year technology collaboration agreement with ABS to accelerate decarbonisation and energy transition
16:49 Kotug Canada holds keel laying ceremony for two RAsalvor 4400 DFM methanol fuelled tugs
15:47 Two RAmparts 3500 ASD tugs enter service at Tianjin Port
13:17 TotalEnergies announces first oil production on Eldfisk North
11:02 Petramina welcomes VLGC duo in its tanker fleet
10:38 Fairplay Towage Group places order for two additional Damen ASD tugs

2024 May 10

15:37 MITSUI E&S production volume of large marine engines reaches 155 units in FY2023
13:51 Fincantieri: Vard to build a hybrid Ocean Energy Construction Vessel for the norwegian shipping group Island Offshore
11:46 Med Marine selects Kongsberg Maritime thrusters for six stern-drive tugs for Tunisian port authority
09:52 Seatrium signs multi-year technology collaboration agreement with ABS to accelerate decarbonisation and energy transition

2024 May 9

16:04 Wallenius Wilhelmsen announces another solid quarter
14:23 Stena Line to increase cargo capacity by 30% on Stena Forerunner and Stena Foreteller
12:06 ClassNK releases report “ClassNK Alternative Fuels Insight”
10:13 Sea-Intelligence: Improved vessel delays may release more capacity

2024 May 8

18:00 ADNOC signs third long-term Heads of Agreement for Ruwais LNG project
17:11 VARD picks TMC to equip newbuild cable laying vessel
16:47 QatarEnergy and Nakilat enter long-term agreement to charter and operate nine “QC-Max” class LNG vessels