• 2013 March 21 17:18

    Bunker Review W.12, 2013

    The Bunker Review is contributed by Marine Bunker Exchange

    Fuel indexes will continue irregular trend on the uncertainty of geopolitical situation.

    U.S. inventories fell by 1.3 million barrels for the first week since Jan. 11 while total petroleum consumption dropped 4.5 percent in the week ended March 15, the weakest level since Jan. 4.  As new pipelines begin bringing oil from the middle of the U.S. to refineries along the Gulf Coast, stockpiles in Cushing, a transport hub, are slipping. Recent progress in relieving the supply glut is starting to translate into a shift in oil futures, and further fall in crude stocks could strengthen West Texas Intermediate (WTI) prices against Brent.

     Meanwhile the expectations of a steady revival in demand growth in the United States are still rather supportive to the oil indexes. Almost all U.S. states began 2013 with lower unemployment rates than they had at the start of 2012. U.S. Federal Reserve signalled recently it would continue its stimulus programs and keep up $85 billion in monthly purchases. It is also expected that Fed will take into account risks posed by its policies and how much progress it was making lowering unemployment.

     Uncertainty over a bailout for Cyprus intensified concerns about the euro zone debt crisis this week. Cyprus was seeking a new loan from Russia after the island's parliament rejected the terms of a European Union bailout, raising the risk of default and a bank crash. On its part the European Central Bank is likely to delay a vote on emergency support for Cyprus giving the government and euro-area officials more days to forge a deal after a banking-tax measure was defeated. It is clear that the ECB has no interest in forcing a collapse before a political decision has been taken, and the market gives optimistic sings that Europe will come up with some solutions. At the same time fresh trouble in European economies would further cut weak oil demand, while a stronger dollar means crude-oil futures become pricier for investors using some foreign currencies.

     Oil output by the Organization of Petroleum Exporting Countries may rise by 850,000 barrels a day from April to June, signaling a gain in prices as spare production capacity is reduced. OPEC will pump more as refineries end maintenance and utilities in Saudi Arabia and Japan increase the use of crude and fuel oil for electricity generation.

     Iran nuclear program is still a supportive factor for the world oil market. Last week President Barack Obama said military force remained an option if sanctions and diplomacy failed to thwart Iran's nuclear ambitions. Iran had been the second-biggest oil producer in the Organization of the Petroleum Exporting Countries, but international sanctions over its nuclear program have cut flows to their lowest level in 30 years. Worries that further confrontation between the West and Iran over the Islamic Republic's controversial nuclear programme may escalate and disrupt oil supplies will continue supporting oil indexes.

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

     




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