• 2013 February 21 18:03

    Bunker Review W.08, 2013

    The Bunker Review is contributed by Marine Bunker Exchange

    U.S. shale boom deepened a glut at Cushing, Oklahoma, America’s biggest storage hub and the delivery point for the New York contract. Operational snags on Seaway line, which carries crude oil from Cushing to the Gulf Coast refining region, had restricted flows, allowing inventories to build up and pressure futures prices on the New York Mercantile Exchange. As per API data released on Feb.20, crude supplies at Cushing increased 546,000 barrels to 50.8 million. So the expansion of the Seaway pipeline from 180,000 barrels a day last month to average 295,000 barrels a day from February to May may have some potential to relieve the pressure on oil futures.

     In Asia, the economic outlook in Japan, the world's third-largest oil consumer, is brightening. The country's expansive policies, which have driven down the yen, escaped direct criticism in a G20 meeting, and this week Japanese shares rallied and the yen continued to fall.

     Disappointing euro zone data revived concerns about the troubled region. The European Central Bank (ECB) described the economic outlook of the euro zone as weak in the near term. The ECB forecasts the region's economy will shrink 0.3% in 2013. Meanwhile political developments in two of the region's struggling economies have also heightened investor concerns. In Spain, charges of bribery have put pressure on Prime Minister Mariano Rajoy to resign. Political uncertainty in Italy could also add to woes in the eurozone and raise questions about oil demand. Italy is the eurozone’s third-biggest economy and if election results at the weekend threaten its economic reforms, that could darken the outlook for a region that is already in a deeper than forecast recession.

     Saudi Arabia's move to cut output sharply by about 700,000 barrels per day (bpd) in the last two months of 2012 had helped tighten supply and supported oil prices. The situation has changed recently when Saudi Arabia stated it expects to raise its output in the second quarter to satisfy higher demand from China and drive economic recovery elsewhere, although the exact rise in volume was still unclear.

     Geo-political tensions added to the support. Talks between Iran and the United Nations appear to have failed, as its inspectors returned last week from Teheran with no deal on reviving a nuclear investigation, no date for a new meeting and no signal of hope for big power diplomacy aimed at averting a war. Now investors are watching the next round of nuclear talks between major powers and Iran next week. Major powers planned to offer an easing of sanctions on trading gold and other precious metals with Iran, in return for Iranian steps to shut down the nation's newly expanded Fordow uranium enrichment plant. However it’s hard to expect any breakthrough until after Iran's elections in June.

    For the coming week expect marine bunker prices to go sideways.

     

     Product

    380 cSt HSFO

    380 cSt LSFO

     

     

     

    Rotterdam 2013-02-21

    618

    660

    Rotterdam 2012-02-21

    685

    720

     

     

     

    Gibraltar 2013-02-21

    653

    712

    Gibraltar 2012-02-21

    717

    787

     

     

     

    St Petersburg 2013-02-21

    545

    605

    St Petersburg 2012-02-21

    460

    540

     

     

     

    Panama Canal 2013-02-21

    645

    725

    Panama Canal 2012-02-21

    731

    -

     

     

     

    Busan 2013-02-21

    664

    852

    Busan 2012-02-21

    745

    -

     

     

     

    Fujairah 2013-02-21

    655

    770

    Fujairah 2012-02-21

    735

    -

     

    All prices stated in USD / Mton

     

    All time high Brent = $147.50 (July 11, 2008)

    All time high Light crude (WTI) = $147.27 (July 11, 2008)

     

    Product

    Close Feb. 20

    Light Crude Oil (WTI)

    $95.22

    Brent Crude Oil

    $115.60

     




2021 November 28

15:17 PGS awarded 4D contract in the North Sea
14:08 Cruises return to the Port of New Orleans with 285 ship calls estimated for 2022
13:54 Kalmar to deliver significant order of Straddle Carriers to MPET and PSA in Antwerp
12:41 Skipper ordered to pay reparation of $10,400 after collision with kayaker on the Whanganui River, NZ
12:17 Port of San Diego extends public review period for Draft EIR for PMPU
11:57 HAROPA PORT elected “Best Green Seaport 2021”
11:33 Contract award for MPSV Siem Dorado
10:48 Port of Dunkerque announces new appointments to its Executive Board

2021 November 27

14:38 Liquid Wind secures SEK 151 million for production of fossil free fuel
13:21 TECO 2030 receives NOK 50 million in government support for fuel cell development
11:09 Inmarsat offers future-proof remote control connectivity for latest sea-kit uncrewed surface vessel trials
10:54 J.P. Morgan and Havfram AS announce a series of next generation wind turbine installation vessels

2021 November 26

18:17 TECO 2030 is leading a project group that will build a hydrogen-powered high-speed vessel for the Port of Narvik
18:00 TransContainer’s IFRS-based net profit in 9M'2021 increased by 51% to RUB 14.8 bln
17:35 Royal Niestern Sander signs contract for walk to work vessel conversion
17:26 PortNews offers final edition of its magazine for 2021
17:15 Konecranes and Cargotec note CMA’s announced Provisional Findings regarding the planned merger of Konecranes and Cargotec
17:03 IMO appoints Special Advisor on Maritime Security
16:55 Nord Stream 2 delay weighs on gas prices - Gasum
16:40 Nevsky Shipyard lays down two research vessels of Project 17050
16:25 BIMCO calls for continued naval support in Gulf of Guinea after piracy incident
16:05 Alfa Laval and Orcan Energy sign a cooperation agreement for the marine market
15:43 Wärtsilä launches power limitation solutions for EEXI compliance
15:25 Hiab launches HIAB iQ.1188 HiPro loader crane with new control system
14:47 RF Government approves Transport Strategy of Russia until 2030 with forecast until 2035
13:59 Sredne-Nevsky Shipyard launches Anatoly Shlemov minesweeper of Project 12700
13:11 The Port of València hosts a rescue drill for a crane operator
12:10 GTT obtains tank design order for three new LNG Carriers from Hyundai Heavy Industries and Hyundai Samho Heavy Industries
11:54 Phase 2 of Bagayevsky hydrosystem construction begins
11:52 Ardmore moderates COP26 ‘ShipZero’ panels, discussing the realities of zero emission ships
11:17 ClassNK signs MOU on cybersecurity with Panama Maritime Authority (PMA)
10:51 MSC starts new In-Transit Cargo service
10:32 MABUX: Global bunker market to keep slight irregular fluctuations with no firm trend on Nov 26
10:22 Oboronlogistics' Ambal ferry obtaines certificate on safety management from RS
09:48 MPA and maritime partners maintain cybersecurity readiness through inaugural exercise
09:33 Baltic Dry Index as of November 25
09:17 Oil prices decrease on concerns over reduction of demand

2021 November 25

18:06 Rolls-Royce and Zhenjiang Shipyard to jointly promote tugs and workboats with mtu engines in China
17:44 Delo Group presented own Digitalization Strategy
17:16 Keppel awarded FSRU conversion and FPSO integration work worth around S$200 million
16:25 Cargo traffic within Azov-Don Basin of Russia’s IWWs fell by 14% in 2021
16:03 Great Lakes Dredge & Dock announces receipt of $92.5 mln Houston Ship Channel widening and improvement project 11 award
15:59 Damen Shipyards achieves official EU Stage V certification for its Emission Reduction system
15:30 RF State Duma ratifies Nairobi Wreck Removal Convention, 2007
15:02 Navigator Holdings announces approval in principle for new CO2 carrier designs for its Dan-Unity CO2 joint venture with Evergas
14:59 RINA, ABB, Helbio, the Liberian Registry, Wärtsilä and an Energy Major enter in proposal with hydrogen as fuel to meet IMO2050 targets
14:44 Rosterminalugol shipped 21 million tonnes of export coal over 10M’2021
14:21 BAE Systems launches next-generation power and propulsion system to help marine operators reach zero emissions
13:55 MABUX: Bunker Weekly Outlook, Week 47, 2021
13:12 Kongsberg Maritime and Norsepower MoU agreement facilitates Rotor Sail integration for shipowners
12:31 Sea Port of Saint-Petersburg allocated over RUB 21 million for implementation of its environmental programme
12:06 Port of Kiel describes path to climate neutrality by 2030
11:06 Third Finnlines hybrid ro-ro launched in China Merchants Jinling Shipyard
10:35 Mitsubishi Heavy Industries receives a major turbomachinery order for Ust-Luga LNG export plant
10:31 MABUX: Bunker prices may demonstrate slight upward changes on Nov 25
10:30 Navigation season closed on Volga-Baltic Waterways
10:06 Port of Long Beach named the best West Coast Seaport in North America
09:41 Oil market sees mixed price movements
09:22 Baltic Dry Index as of November 24
09:08 The second of Damen’s new Shoalbuster 2711 class handed over to Ports of Jersey in christening ceremony