• 2019 October 9 08:29

    MABUX: Bunker Market this morning Oct 09

    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 upward changes on Oct.8

    380 HSFO - USD/MT 392.71 (+0.54)
    180 HSFO - USD/MT 430.27 (+0.04)
    MGO - USD/MT 661.50 (+3.23)

    Meantime, world oil indexes also demonstrated downward changes on Oct.8. as tensions rose between China and the United States ahead of high-level trade talks.

    Brent for December settlement decreased by $0.12 to $58.24 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for November delivery fell by $0.12 to $52.63 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $5.61 to WTI. Gasoil for October delivery decreased by $10.00.

    Today indexes slight down as prospect of the United States and China striking a trade deal in talks this week is unlikely, that raise uncertainties for global economic growth and oil demand.

    The Trump Administration was moving ahead with efforts to limit capital flows into China and the inclusion of more Chinese firms in a blacklist. Washington widened its trade blacklist to include some of China’s top artificial intelligence start-ups, punishing Beijing for its treatment of Muslim minorities and ratcheting up tensions ahead of trade talks in Washington this week. A South China Morning Post report that said China had toned down expectations ahead of high-level trade talks between the two countries that are to resume on Thursday, after being stalled since May. The report said the Chinese delegation could depart Washington a day earlier than scheduled. An increase in U.S. tariffs to 30% from 25% on $250 billion worth of Chinese goods is scheduled for Oct. 15. Prospects for progress dimmed after U.S. President Donald Trump said a quick trade deal was unlikely.

    According to the American Petroleum Institute crude inventories rose by 4.1 million, with gasoline supplies down by 5.9 million barrels for the week ended Oct. 4. It is expected that the Energy Information Administration will report a build of 1.4 million barrels on its petroleum data today later.

     Oil prices were also pressured by weak economic data after U.S. producer prices fell unexpectedly in September, weighed down by lower costs of goods and services, which could give the Federal Reserve room to cut interest rates again this month.

    The U.S. Energy Information Administration (EIA) on Oct.8 cut its 2020 world oil demand growth forecast by 100,000 barrels per day (bpd) to 1.30 million. The EIA also said U.S. crude production is expected to rise by 1.27 million bpd in 2019 to a record 12.26 million bpd, slightly above its previous forecast for a rise of 1.25 million. International Monetary Fund Managing Director Kristalina Georgieva at the same time warned of a risk of complacency among countries. Without action to resolve trade conflicts and support growth, global economic deceleration could turn into “a more massive slowdown,” she said.

    However, protests in OPEC members Iraq and Ecuador threatened to disrupt their oil output and supported prices. In Iraq, protests resumed overnight in Baghdad’s Sadr City district, though much of the country appeared quieter than it has been for a week. Potential attacks by Turkey on Kurdish forces in northeast Syria could take place close to the Iraqi border, leading to the crisis that puts pressures on Kurdistan’s economy. Turkey said it had completed preparations for a military operation in northeast Syria after the United States began pulling back troops.

    Ecuador’s energy ministry said protests against austerity could reduce its oil output by 59,450 bpd.

    We expect bunker prices to demonstrate slight downward changes today: 1-3 USD down for IFO, 7-10 USD down for MGO.




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
14:18 Volvo Penta is now taking orders on its full Stage V marine engine range
14:13 DEME wins first floating offshore wind EPCI contract for the Leucate wind farm
13:02 S&P affirmed DeloPorts rating at B+ based on the results of 2020 with stable outlook
12:15 Korean Register launches latest ‘SeaTrust-HullScan’
11:30 MPA inks collaborations with partners to advance decarbonisation efforts
11:07 IAP on Maritime Decarbonisation unveils nine pathways to support decarbonisation in the maritime industry
10:37 European first for UK firm pioneering technology to transform shipping industry
10:27 Europe’s first Maritime value chain project for Liquid Hydrogen is short-listed as Norwegian candidate for IPCEI Hydrogen
09:51 Icebreaker assistance period ends at Passenger Port of St. Petersburg from April 21
09:30 Oil prices decrease amid returning COVID-19 risks
09:12 Baltic Dry Index as of April 20

2021 April 20

18:19 China's Sinopec successfully starts up two Dupont™ STRATCO® alkylation technology units
18:05 MINT Fund grant scheme to provide maritime technology start-ups in Singapore
17:25 MPA launches Singapore’s first Maritime Drone Estate
17:15 SEA-LNG warns against delay in addressing shipping decarbonisation
17:08 Launch of Singapore’s MDE as test bed for drone technologies
16:44 RF President signs law on long-term agreements for providing services involving nuclear-powered icebreakers
16:15 ONE launches Green Strategy Department
15:43 Solstad Offshore signs long-term contract for PSV in UK
15:20 ABS and Rainmaking to support Singapore’s decarbonization entrepreneurs
15:05 Icebreaker assistance period ends at the port of Vysotsk in the Leningrad Region
14:26 Budget allocations for construction of LNG terminal in Kamchatka Territory to exceed RUB 21 billion
14:02 Hiab to supply 37 loader cranes in Spain to maintain railway infrastructure
13:23 Alfa Laval starts testing methanol fuel cell systems for sustainable marine power supply