• 2013 May 2 18:01

    Bunker Review W.18, 2013

    The Bunker Review is contributed by Marine Bunker Exchange

    Weak demand outlook on the concerns of global economic slowdown.

     A string of disappointing reports in recent weeks from the United States and China have stoked fears of global economic slowdown and weakened the demand outlook.

     A weaker-than-expected report on the U.S. economy provided the fuel for a decline. The U.S. Commerce Department reported the world's largest economy grew at an annual rate of 2.5 percent in the first-quarter (below expectations of 3 percent). It is signaling the potential for another year of sluggish growth that threatens to weigh on fuel demand.

     Crude inventories weakened the demand outlook as well. Data from the Energy Information Administration showed crude stocks in the United States rose by 6.7 million barrels last week to their highest level on record at 395.28 million barrels. The week's steep increase in stockpiles was due largely to an increase in U.S. oil imports to the Gulf Coast, and to the restart of several Gulf-area refineries. The rate of oil imports to the U.S. still remains low, with last week's figure down 7.4% from a year earlier.

     A sluggish economic recovery and a slowdown in inflation pushed U.S. Federal Reserve to maintain its stimulus policy to support an economic recovery that is nearly four years old. The Fed said recently it will keep buying $85 billion in bonds each month to keep interest rates low and spur growth, but added it could lift this pace of purchases depending on the economy's path.

     Oil extended declines after China Federation of Logistics and Purchasing, an industry group, released data on May 01 showing that manufacturing grew at a slower pace in April and that export orders had been declining steadily. Purchasing Managers' Index fell to 50.6 in April from 50.9 in March, ,raising fresh doubts about the strength of the economy after a disappointing first quarter.

     Meanwhile, Crude prices may increase through May 3 on speculation that the European Central Bank will cut its key interest rate to a record low of 0.5 percent after data on Apr.30 showed inflation in the euro zone has fallen to a three-year low and unemployment had hit a record of 12.1 percent. However, this step is seen doing little to pull the euro zone out of a recession.

     On the supply side, more oil is coming to the world market. OPEC crude production climbed in April to a five-month high, led by gains in Saudi Arabia, the United Arab Emirates and Kuwait. The output rebounded from its lowest monthly level in more than a year due to the resolution of export disruptions in Iraq and Libya and a rise in Iranian sales. The 12-member producer group is due to meet on May 31 in Vienna to review its output target.

     For the coming week expect marine bunker prices to go slightly upwards.

     Product

    380 cSt HSFO

    380 cSt LSFO

     

     

     

    Rotterdam 2013-05-02

    573

    589

    Rotterdam 2012-05-02

    697

    742

     

     

     

    Gibraltar 2013-05-02

    600

    620

    Gibraltar 2012-05-02

    718

    785

     

     

     

    St Petersburg 2013-05-02

    530

    550

    St Petersburg 2012-05-02

    435

    525

     

     

     

    Panama Canal 2013-05-02

    619

    697

    Panama Canal 2012-05-02

    715

    -

     

     

     

    Busan 2013-05-02

    632

    792

    Busan 2012-05-02

    740

    -

     

     

     

    Fujairah 2013-05-02

    614

    730

    Fujairah 2012-05-02

    722

    -

     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 May 02

    Light Crude Oil (WTI)

    $91,03

    Brent Crude Oil

    $99,95




2021 December 9

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
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