• 2013 March 14 20:32

    Bunker Review W.11, 2013

    The Bunker Review is contributed by Marine Bunker Exchange

    Fuel indexes go sideways on the concerns about global oil demand.

    During the week fuel prices have been under pressure by a larger-than-expected increase in U.S. crude inventories, updated demand forecast from the International Energy Agency and a stronger dollar.

     Stockpiles of crude in the United States have risen for an eighth straight week and are at the highest level ever for this time of year. As per the U.S. Energy Information Administration (EIA) report, oil stocks rose 2.62 million barrels last week. At the same time a sharp drop in crude oil stocks at Cushing, Oklahoma, delivery point for the U.S. light sweet crude contract, helped narrow the spread between Brent and U.S. crude futures. Elevated stockpiles, production in the U.S. and slack demand there applied pressure to oil prices.

     A gloomier outlook on global oil demand also helped weigh on prices. China’s net crude imports fell to the lowest level in five months. Chinese data showing inflation at a 10-month high in February, weaker factory output and consumer spending stoked worries that the economy may need policy tightening before industrial output and retail sales regain momentum.

     EIA decreased its 2013 world oil demand forecast slightly in its monthly report and said U.S. crude oil production gains would be enough to protect against most shocks from potential supply interruptions. OPEC in its monthly report (released almost at the same time) pointed out that world oil demand growth could fall short of 2013 forecasts due to economic weakness and that U.S. supply would hit its highest in three decades. OPEC also warned that risks to the U.S. and euro zone's economic growth could dampen the demand increase.

     Prices are also under pressure from a stronger dollar which grew up against other major currencies after a remarkable growth in U.S. employment, and weighs on dollar-denominated commodities such as oil. U.S. employers added a greater-than-expected 236,000 workers to their payrolls in February and the jobless rate fell to a four-year low.

     Meanwhile oil indexes have received some support from renewed geopolitical worries in the Middle East. Syrian rebels broke through government lines to ease a siege of their positions in the strategic central city of Homs. In spite of Syria isn't a key to the oil market, investors have worried the unrest may spread to other major oil exporters. Iran for its part saw signals that the other side - China, Germany, France, Russia, the U.K. and the U.S. - is acting in good faith in talks about its uranium enrichment program last month. Both sides are scheduled to meet March 18 in Istanbul and on April 5-6 in Almaty. As per IEA, Iran’s crude output in January was the lowest in three decades due to economic sanctions.

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



    380 cSt HSFO

    380 cSt LSFO




    Rotterdam 2013-03-14



    Rotterdam 2012-03-14






    Gibraltar 2013-03-14



    Gibraltar 2012-03-14






    St Petersburg 2013-03-14



    St Petersburg 2012-03-14






    Panama Canal 2013-03-14



    Panama Canal 2012-03-14






    Busan 2013-03-14



    Busan 2012-03-14






    Fujairah 2013-03-14



    Fujairah 2012-03-14




    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)



    Close Mar.13

    Light Crude Oil (WTI)


    Brent Crude Oil



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
14:41 NOVATEK and RWE sign MOU on decarbonization and LNG
14:23 ABS grants Alfa Laval the marine industry’s first approval in principle for firing boilers with methanol
14:08 Nonius Engineering supports International Congress “Hydraulic Engineering Structures and Dredging” as its Sponsor
13:50 Cox Marine collaborates with clean maritime consortium to demonstrate world-first diesel-hydrogen outboard
13:22 The leading Russian supertrawler for the Russian Fishery Company has successfully inclined
12:36 Throughput of Rostov-on-Don port in 11M’2021 fell by 15%, year-on-year
12:14 Stena Line to open new daily route to Finland
11:49 Russia joins the Nairobi International Convention on the Removal of Wrecks
11:12 Exports of Sibanthracite Group to India in 2021 to total 3.5 million tonnes of coal and anthracite
11:00 Long Beach and Los Angeles keep ‘Container Dwell Fee’ on hold until Dec. 13
10:51 DSV launches Green Logistics to accelerate the green transition of the industry
10:47 Throughput of Taganrog port in 11M’2021 fell by 2% Y-o-Y
10:24 Average spot market price for Russian M100 product fell to RUB 25,252 pmt
10:06 Flag-raising ceremony held on Norvezhskoye More trawler, first serial factory ship of KMT01 design
09:45 MABUX: Global bunker indexes to turn to firm upward trend on Dec. 07
09:28 Baltic Dry Index as of December 3
09:13 Crude oil prices continue rising

2021 December 6

18:37 The Port of Bergen changes the name of the Hurtigruten terminal
18:22 Preliminary results of Volga Basin cargo traffic – 41.39 million tonnes
18:14 Equinor invests in battery storage company
17:55 ENGIE and Masdar form US$5 billion strategic alliance to drive UAE’s green hydrogen economy
17:38 Moody’s upgrades Global Ports’ rating to Ba1 with stable outlook
17:16 Solstad Offshore announces long-term contracts in Brazil