• 2013 February 28 17:01

    Bunker Review W.09, 2013

    The Bunker Review is contributed by Marine Bunker Exchange

    Uncertainty over fuel indexes trends on US financial crisis and situation in euro-zone.

      There is the sixth straight weekly rise in U.S. crude oil stockpiles by 1.1 million barrels in the week to Feb. 22. Stocks at 377.5 million barrels are the highest since last July and are the most on record for this time of year since EIA data began in 1982. Increasing refinery operations could signal rising demand for crude to turn into gasoline and other fuels.

     Losses were limited this week by U.S. Federal Reserve Chairman Ben Bernanke's defense of the central bank's bond-buying stimulus program in Congressional testimony on Feb.26. Bernanke's testimony was seen as supporting the economic recovery, which is tied to oil demand.

     Meanwhile, investor attention is shifting back to the impending spending cuts in the United States as Republicans and the White House fail to reach an agreement. Republicans want to replace the across-the-board sequester cuts by finding other more-targeted spending reductions. But congressional Democrats have put forward a $110 billion plan that includes not only spending cuts but also tax increases, which are opposed by Republicans. If the U.S. Congress doesn't act before a March 1 deadline, automatic spending cuts known as sequestration will take effect. These concerns still weighed on oil and equity markets.

     China, the world's second-biggest oil consumer after the U.S., is sending mixed signals. China's crude oil imports rose in January by a healthy 7.4% from a year earlier, but early indications show manufacturing activity dropped in February to a level that barely indicates a growing economy.

     In Europe, uncertainty over the outcome of Italy's election created doubts about prospects for economic reforms. Elections haven't offered any group a clear majority in the country's senate. Italian party chiefs began jockeying to forge a coalition of rivals and head off a second vote. A political stalemate in the country could halt reforms needed to spur growth and help Italy cut its massive 2 trillion euro debt pile, dragging oil and other industrial commodities lower.

     One of the most important geopolitical factors this week was talks in Kazakhstan between world powers and Iran. World powers are seeking a deal to curb the country's nuclear program, which they say may have a secret military dimension, in return for the removal of economic sanctions imposed to punish Iran for illicit atomic work. However, two days of talks ended without agreement on the issue. It is expected that technical talks will be held further in Istanbul on March 18, and political discussions with international negotiators will resume in Almaty on April 5-6.  Lingering concerns over a supply disruption from the Middle East will continue supporting oil indexes.

     All in all, oil markets are still tied to the global economic outlook, as weak growth results in sagging demand for oil products worldwide.

    For the coming week expect marine bunker prices to be irregular.

     

     Product

    380 cSt HSFO

    380 cSt LSFO

     

     

     

    Rotterdam 2013-02-28

    606

    637

    Rotterdam 2012-02-28

    700

    745

     

     

     

    Gibraltar 2013-02-28

    636

    687

    Gibraltar 2012-02-28

    730

    779

     

     

     

    St Petersburg 2013-02-28

    550

    610

    St Petersburg 2012-02-28

    465

    645

     

     

     

    Panama Canal 2013-02-28

    632

    717

    Panama Canal 2012-02-28

    740

    -

     

     

     

    Busan 2013-02-28

    659

    848

    Busan 2012-02-28

    759

    -

     

     

     

    Fujairah 2013-02-28

    640

    760

    Fujairah 2012-02-28

    745

    -

     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. 27 

    Light Crude Oil (WTI)

    $92.76

    Brent Crude Oil

    $111.87

     

     




2021 December 9

16:12 Trafigura and Nyrstar announce a joint investment in new green hydrogen project at Port Pirie, South Australia
15:55 8th Port Planning & Development Asia Summit 2022 to be held live online on 21-24 March 2022
15:54 Port of Melbourne breaks new ground on rail project
15:42 Port of Antwerp, Indaver, Fluvius and Woonhaven work together on the first open access heat network in Belgium
15:21 LR launches ‘First movers in Shipping’s Decarbonisation – a framework for getting started’
14:54 Intense operation of nuclear-powered icebreakers over complete cycle is cheaper compared to diesel and gas fueled ones
14:50 Aker Solutions to deliver subsea compression module for Åsgard
14:30 Volvo Penta and Danfoss Power Solutions partner to boost electrification in the marine sector
13:58 Four new ports to be built in Perm Territory by 2030
13:35 MABUX: Bunker Weekly Outlook, Week 49, 2021
13:31 Rotterdam port agrees tariffs through 2024
13:13 Electric watercraft maker Candela secures €24M investment from EQT Ventures to scale production of foiling vessels
13:02 Xeneta and Compass Financial Technologies partner to launch the industry’s most in-depth daily container freight index
12:44 NUTEP Container terminal set a record for simultaneous processing of vessels
12:12 CMA CGM acquires Ingram Micro’s Commerce & Lifecycle Services business
11:13 Samus Shipbuilding and Repair Yard lays down 10 barges for Yenisey River Shipping Company
10:42 FESCO launches a regular intermodal service from countries of the Asia-Pacific region to Europe via Vladivostok and Kaliningrad
10:19 MABUX: Bunker prices may slightly increase on Dec.9
09:50 FESCO acquires a universal marine terminal in the Far East
09:28 Crude oil prices rise as concerns over omicron decrease
09:11 Baltic Dry Index as of December 8
08:07 Topeka’s hydrogen vessels one step closer to reality
07:56 BIMCO publishes EEXI Transition Clause ahead of IMO efficiency regulation

2021 December 8

18:39 A robotic system intended to clean litter from the seafloor has passed its first real-life tests in Croatia
18:10 Arctic LNG 2 signs loan agreements with international banks
17:55 Eagle Bulk Shipping partners with sustainability pioneer GoodFuels to take on first biofuels
17:49 Russian Railways: Loading of export cargo bound for domestic ports grew by 7% in 11M’21
17:26 European shipowners call on Transport ministers to fix enforcement loopholes in FuelEU Maritime
17:06 Sewage from cargo ships may be legally discharged into the Baltic Sea - Gasum
16:42 Nordic Engineering supports Ship Repair, Modernization and Components Conference as its Partner
16:25 Wärtsilä thrusters to provide optimal propulsion performance for new Wind Turbine Installation Vessel
15:43 Zelenodolsk Shipyard named after A.M. Gorky lays down three sea-going tugboats of Project Т3150-ZD
15:14 Crowley announces 2050 net-zero commitment and activates key partnerships
14:55 Results of Atomflot’s summer-autumn navigation season rose from 66 to 111 icebreaker escort operations YoY
14:31 ICTSI continues to invest in Manila flagship
14:22 Parker altair® Neptune filtration system selected to provide reliable operation of Italian and US Navy vessels
13:47 Single-window concept applied at Ust-Luga – Baltiysk ferry line
13:21 Port of Long Beach opens survey on multimillion-dollar community grants
12:56 AS Tallink Grupp published its statistics for November 2021
12:32 Rosatomflot completed operation to escort ships out of the Northern Sea Route area
12:30 "K" Line and Shin Kurushima Dock get joint AIP for the concept design of Ammonia Fueled Car Carrier from ClassNK
12:09 APM Terminals Elizabeth targeting intermodal cargo
11:03 VRT Finland acquires Satamatieto Oy
10:29 ABP opens Vancouver Timber Terminal at the Port of Kings Lynn
10:10 Sea Port of Saint-Petersburg introduced unified digital system of production control
09:59 The Georgia Ports Authority to expedite 1.6M TEUs of on-terminal capacity by June
09:46 MABUX: Bunker prices may continue upward changes on Dec.8
09:28 Baltic Dry Index as of December 7
09:11 Crude oil market sees downward price correction

2021 December 7

18:15 Ernst Russ AG to acquire further shares in a Fleet Holding Company
17:59 Kuzey Star Shipyard holds steel cutting ceremony for Atomflot’s new floating dock
17:36 Stena Line expands and launches new route between Stockholm Norvik and Hanko
17:15 Boskalis consortium secures EUR 24 million research grant to advance emission-free shipping
16:45 New report highlights regional economic importance of Ports of Stockholm
16:33 LAS Admiral Panteleev of RF Navy’s Pacific Fleet started transition to Vladivostok from Indonesia after participation in ARNEX-2021
16:15 Angola starts CLOV Phase 2 project
15:50 Rosneft signed contract with Indian Oil for supplying up to 2 mln tons of crude oil to India
15:45 Strategic Marine wins additional order for new 42m Fast Crew Boat from Centus Marine
15:27 Ships of RF Navy and Egypt Navy start naval phase of Bridge of Friendship 2021 joint exercise
15:03 Wärtsilä partners with Microsoft to strengthen their Edge platform and industrialise Marine IoT