• 2019 October 7 09:09

    MABUX: Bunker market this morning, Oct 07

    The Bunker Review was contributed by Marine Bunker Exchange (MABUX)

    MABUX World Bunker Index (consists of a range of prices for 380 HSFO, 180 HSFO and MGO (Gasoil) in the main world hubs) demonstrated slight downward movement on Oct.04:

    380 HSFO - USD/MT – 392.36 (-2.40)
    180 HSFO - USD/MT – 431.49 (-1.77)
    MGO - USD/MT – 654.64 (-4.53)

    Meantime, world oil indexes rose on Oct.04, although remained on track for a second consecutive weekly loss, as an increase in U.S. jobs eased financial market concerns.

    Brent for December settlement increased by $0.66 to $58.37 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for November delivery rose by $0.36 to $52.81 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $5.56 to WTI. Gasoil for October gained $13.50.

    Today morning oil indexes do not have any firm trend so far.

    The labor market report showed that the U.S. economy had created more jobs than thought in August and that, while hiring slowed in September, it didn’t fall as some had expected after reading business surveys from the Institute of Supply Management last week.
    The ISM’s manufacturing purchasing managers’ index fell to a 10-year low, while its non-manufacturing PMI fell to the lowest in three years.

    Meantime, U.S. crude oil exports jumped by nearly 1 million bpd in the first half of 2019 from the same period in 2018 to average 2.9 million bpd between January and June this year. Canada stayed the top foreign destination of U.S. crude oil, with U.S. exports rising by 3 percent year on year in H1 2019. U.S. exports to Asia and Oceania jumped by 58 percent, with exports to South Korea, India, and Taiwan more than doubling. A notable exception from the rising trend of U.S. crude sales in Asia was China— U.S. crude oil exports to China averaged 248,000 bpd in the first half of 2019, down by 64 percent from the same period last year, as Chinese buyers have been reluctant to buy U.S. crude oil amid the U.S.-China trade war.

    Market is also watching for further developments on tensions between the United States and Iran. France said Iran and the United States have one month to get to the negotiating table, suggesting that Tehran’s plan to increase its nuclear activities in November would spark renewed tension in the region.

    Russia’s largest oil company Rosneft has set the euro as the default currency for all new exports of crude oil and refined products, as the state-controlled giant looks to switch as many sales as possible from U.S. dollars to euros in order to avoid further U.S. sanctions against it. In the latest tender for a spot sale of 100,000 tons of Urals blend loading from the port of Primorsk at the end of October, Rosneft specifies that the default currency in the payment should be in euros. The United States has not ruled out imposing sanctions on Rosneft over its involvement in trading oil from Venezuela and reselling it to buyers in China and India. Rosneft’s move was seen by traders as a future hedge against potential new U.S. sanctions on Russia and/or its oil industry.

    India, which relies on oil imports to meet 80 percent of its demand, aims to cut that reliance by signing deals with Russia in the energy sector in recent months and years. Indian companies reaffirmed their interest in participating in developing oil and gas projects in Russia, while Rosneft, in a consortium with other foreign investors, is considering investments in doubling the refining throughput of the Vadinar Refinery in India and expanding the retail presence in India of Rosneft-participated Nayara Energy.  Apart from cooperation in the energy sector, Russia’s Rosneft also aims to boost its oil supplies to India.

    U.S. energy companies last week reduced the number of oil rigs operating for a seventh week in a row. Drillers cut 3 oil rigs in the week to Oct. 4, bringing the total count down to 710, the lowest since May 2017.

    Japanese refiner Fuji Oil has started supplying 0.5% sulfur bunker fuel oil this month at its sole 143,000 b/d Sodegaura refinery in Tokyo Bay as it gets ready for the International Maritime Organization’s mandate. Fuji Oil’s start of IMO-compliant fuel oil supply is the latest in growing supplies of 0.5% sulfur bunker fuel oil in Japan, where the country’s top three refiners JXTG Nippon Oil & Energy, Idemitsu Kosan and Cosmo Oil have also started their supplies across the country on Oct.01. For Fuji Oil, the start of 0.5% sulfur bunker fuel oil supply would mean an increased need to deal with high sulfur fuel oil and residual oil. Research showed that Japanese refiners could be burdened with surplus HSFO amounting to around 4.80 million kl/year (30.19 million barrels/year) if they blend export-grade gasoil with HSFO to make the IMO-compliant fuel.

    We expect bunker prices may turn into slight upward trend today in a range of plus 4-10 USD.




2021 April 23

18:05 WinGD & CSPI collaborate for X40DF engine
17:55 Diana Shipping announces time charter contract for m/v Philadelphia with Classic Maritime
17:26 NOVATEK’s AGM approves 2020 dividends
17:04 Production capacity of Russian ports to grow by 155.93 million tonnes per year between 2021 and 2023
16:58 Damen delivers Multi Cat to Leask Marine in record time
16:45 Grimaldi christened hybrid ro-ro unit Eco Savona at the port of Savona
16:15 South Florida Container Terminal ready for gateway growth
16:00 Sergey Ivanov considers it reasonable to build cruise ships for the Far East and Kamchatka
15:51 Port of Antwerp container throughput up by 0.6% to 2.3% TEUs in Q1 2021
15:31 The Wilhelmsen and thyssenkrupp JV digitize, print, test and deliver a cooling water pipe connector
14:48 35 crab catching ships worth RUB 60 billion to be built in Russia by 2024
14:26 World Maritime University contributes to Second World Ocean Assessment
14:02 A.P. Moller - Maersk’s block train transports COVID-19 antigen self-test kits from China to UK
13:35 Operation of Klaipėda LNG terminal temporarily suspended due to scheduled maintenance works
13:02 Lloyd’s Market Association advices underwriters of poised situation in Ukraine
12:57 North Sea Port posts results for Q1 2021
12:14 BC Ferries marks Earth Day with the launch of its sixth battery electric-hybrid vessel
11:33 FESCO and Globus to develop transportation of containerized timber from Siberia and the Far East to China
11:33 Tsuneishi Shipbuilding receives AiP for its Kamsarmax LNG dual-fuel vessel
10:29 Icebreaker Vladivostok provides assistance at Franz Josef Land and Novaya Zemlya archipelagos in difficult ice conditions
10:10 ICTSI Ecuador unveils special economic zone at the Port of Guayaquil
10:05 Fleet of Rosmorport’s Far Eastern Basin Branch expanded with icebreaker Moskva
09:41 Oil prices show a correction increase
09:22 Baltic Dry Index as of April 22

2021 April 22

18:05 Xeneta launches public Xeneta Shipping Index for short-term market, unlocking daily rate tracking
18:04 Cargo navigation begins on the Upper Volga
17:53 Genco Shipping & Trading to acquire fuel-efficient Ultramax vessel
17:15 Port of Kapellskär cargo volume up to 3000 metric tons in Q1 2021
16:45 Maersk’s Destination Cargo Management program reduces demurrage and detention exposure by 50%
16:23 Pavel Leonov ferry completed its sea trials on the Ladoga Lake
16:05 Rolls-Royce delivers 16-cylinder version of mtu Series 8000 for the first time
15:41 Bunker Weekly Outlook, Week 16, 2021
15:24 ABS publishes analysis of the greenhouse gas footprint of the leading alternative marine fuels
15:04 Samskip enters into new formal agreement with sustainable cargo initiative GoodShipping
14:48 Icebreaker assistance period ends at the port of Ust-Luga
14:31 Plug and Play launches maritime innovation platform in Antwerp
14:13 ABS Consulting and Verifavia Shipping partner to deliver turnkey IHM solution to maritime industry
13:51 Volgotrans successfully completes e-document flow tests
13:35 Icebreaker assistance period ends at the port of Primorsk
13:12 MPA and SMF step up efforts for maritime workforce transformation
12:34 Rosmorport tests e-Navigation system in the seaport of Sabetta
12:30 DNV awards first merchant vessel SILENT-E notation
12:12 Aker Solutions completes first phase of the Hywind Tampen Construction
11:39 Russian Maritime Register of Shipping takes part in NEFTEGAZ 2021
11:17 Wan Hai Lines to launch independent TVT2 service
10:46 Russian Fishery Company starts supplying surimi to the domestic market
10:20 FESCO refinanced its obligations to VTB
09:33 Oil prices decrease as COVID-19 cases grow in India and Japan
09:11 Baltic Dry Index as of April 21
06:57 The first batch of the next generation of electric boats arrives in New York

2021 April 21

18:44 Russian President suggests providing federal infrastructure loans
18:35 MAN Energy Solutions to partner on world’s largest liquid-air energy-storage (LAES) project
18:05 Port of Dampier sets sail with 10-year roadmap
17:35 Port of Amsterdam postpones the implementation date of the Green Award requirement for river cruise ships for a year
17:33 First Candela C-7 hydrofoil delivered to customers on the US East coast
17:15 Maersk launches rail service between Gurugram and APM Terminals Pipavav Port
16:35 Wärtsilä seeks breakthrough in clean propulsion as part of Finnish consortium
16:15 BIMCO asks the IMO to improve the ballast water record book
15:14 Russian container transport giant RUSCON opens its office in the Netherlands
14:41 Shipping bodies call on world leaders to bring forward discussions on global market-based measures