• 2019 October 10 09:02

    MABUX: Bunker market this morning, Oct 10

    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.09:

    380 HSFO - USD/MT – 391.62 (-1.09)
    180 HSFO - USD/MT – 429.00 (-1.27)
    MGO - USD/MT – 659.04 (-2.46)


    Meantime, world oil indexes changed irregular on Oct.09, following media reports that China was open to agreeing a partial trade deal with the United States, while unrest in OPEC members Iraq and Ecuador also supported prices.

    Brent for December settlement increased by $0.08 to $58.32 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for November delivery fell by $0.04 to $52.59 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $5.73 to WTI. Gasoil for October gained $12.50.

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

    Negotiators from China and the United States will meet in Washington on Oct.10-11 in the latest effort to settle a deal aimed at ending a long-running trade dispute that has slowed global economic growth. But tensions between China and the U.S. rose this week after the United States imposed visa restrictions on Chinese officials for the detention or abuse of Muslim minorities, while a row escalated over comments by a leading U.S. National Basketball Association official in support of protests in Hong Kong.  The issues have set markets on a risk-aversion course, even though the global oil market remains in a supply deficit which should in theory support prices at above $60 a barrel.

    The EIA has revised downward again its oil price forecast in October’s Outlook (STEO), shaving another $5 per barrel off its forecast compared to last month’s STEO. The reason for the downward adjustment to oil predictions, which it now expects will be fall to $57 per barrel by the second quarter of 2020, is due to the rise of global oil inventories during the first half of 2020. Brent spot prices averaged $63 per barrel in September. While the EIA acknowledges the greater risk of oil supply disruptions as of late, it remarks that this risk is more than offset by “increasing uncertainty about economic and oil demand growth in the coming quarters.”

    Iran is upping its defenses around key oil and petrochemical facilities, as Iran prepares for a retaliatory act just weeks after Saudi Aramco’s oil facilities were struck by missiles. The areas that will be covered under this increased defense will be air traffic in the south, over the Persian Gulf as well as over the Strait of Hormuz and the Sea of Oman, and will cover area of critical importance to the gas and petrochemical industries such as Assaluyeh and Kharg island.

    Turkey said its forces would cross the Syrian border shortly, launching attacks that could impact the economy of the oil-producing Kurdistan region in Iraq, and energy prices. Anti-government protests also threatened oil production in Ecuador and Iraq, members of the Organization of the Petroleum Exporting Countries.

    The IMO 2020 sulphur regulation will force ocean carriers to use more expensive, cleaner fuel, or install expensive scrubbers: it means that their operating costs will be higher. To offset costs, shipping companies are going to deploy larger vessels, since an increase in ship size does not mean an equal increase in fuel consumption. As a result, it is expected a shift from the 10,000 TEU to the 14,000-18,000 TEU size. Currently, most cargo ships are in the 10,000 – 14,000 TEU (Twenty foot Equivalent Unit – corresponding to the size of a standard 20ft shipping container) range, with larger ships ranging from 18,000 to 23,500 TEU. One 20,000 TEU ship does not use as much fuel as two 10,000 TEU vessels. On the water side, most large U.S., European and Asian ports are ready to receive 14,000-plus TEU vessels. However, the question is how well they can handle these vessels on the land side.

    Russia’s liquefied natural gas (LNG) producer Novatek is in talks to tranship its Yamal cargoes in Norway or Russia’s Murmansk because it is unsure of the impact of U.S. sanctions on the Chinese COSCO tankers it uses. The United States imposed sanctions on Sept. 25 on state-owned COSCO for allegedly ferrying Iranian crude. Novatek had a deal with Norwegian shipping company Tschudi to reload Yamal cargoes in Norway’s Honningsvag between November 2018 and June 2019. This allowed the company to export the Yamal volumes that came from trains launched ahead of the schedule, while not all Arc7 ships designed to export those were as yet available.

    U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 2.9 million barrels from the previous week. At 425.6 million barrels, U.S. crude oil inventories are at the five year average for this time of year. That comes after three weeks of inventory increases, with the latest, for the last week of September, at 3.1 million barrels. The authority also reported gasoline inventories had shed 1.2 million barrels last week, versus a 200,000-barrel draw in these a week earlier. In distillate fuels, the EIA reported a decline of 3.9 million barrels, after a week earlier it estimated these had gone down by 2.4 million barrels.

    We expect bunker prices for IFO may change irregular today in a range of plus-minus 1-3 USD. MGO prices may rise by 5-10 USD.




2020 August 5

18:57 Valenciaport triples air quality control cabins
18:16 U.S. Coast Guard suspends search for missing spearfisher off Maui
18:04 Port of Helsinki turnover decreased by 26.7% to EUR 33.4 million in January–June 2020
17:35 A delegation of the Port of Gdansk visits Klaipeda
17:06 Voluntary ship slowdown through Swiftsure Bank begins August 1
16:49 Mississippi River will get deeper
16:39 MOL introduces FOCUS Project Part Ⅲ: Virtual Ship Visit Application 'Fleet Tour'
16:29 Admiralty Shipyards starts building fourth CT-192 series trawler the Kapitan Martynov
15:27 Solstad secures contract from BP for three vessels in Australia
14:38 ABS to class first Taiwan-built offshore installation vessel
13:22 Hurtigruten temporarily suspends all expedition cruises
13:18 Krasnoye Sormovo to launch the MS Pola Marina cargo ship on August 7
13:12 The Vostochnaya Stevedoring Company completes the upgrade of more than 18,000m2 of storage yard
13:08 Concept of a modular composite fishing boat gets the thumbs up from MARINET
12:39 Scorpio Bulkers to build Wind Turbine Installation Vessel (WTIV) at DEME
12:01 Fincantieri and Saipem sign deep-seabed mining agreement
11:58 MARINET expects draft amendments on autonomous shipping to Russia’s MSC to be submitted by the end of the month
11:13 Future 12th expeditionary fast transport (EPF 12) for US Navy successfully completes acceptance trials
11:06 SEA-KIT bags two USV orders from Fugro
10:51 Indian Register of Shipping launches vessel for Unichart Navigation
10:23 Baltic Dry Index as of Aug 4
10:18 Crude futures prices remain nearly flat
09:51 MABUX: Bunker market this morning, Aug 05
09:07 EMSA, ECDC release guidance on resuming safe cruise operations in EU

2020 August 4

18:36 UK publishes Guidance on financial sanctions for Maritime Industry
18:21 Avance Gas sells 2003-built VLGC Avance
17:45 Klaveness Combination Carriers takes delivery of the fourth CLEANBU vessel
17:03 Tallink Grupp publishes July 2020 passenger and cargo statistics
16:58 ADNOC L&S and Wanhua Chemical Group form Strategic Shipping Joint Venture
16:33 Dredging of Utrenny LNG terminal’s basin kicked off
16:02 MHI-MME receives generator turbine and VOC firing auxiliary boiler orders for shuttle tankers
15:51 Flag, coastal and port authorities from eight countries come together to encourage development of maritime autonomous surface ships
15:43 Port of Ust-Luga MRC’ priority is taking care of employees
14:50 NOVATEK’s transshipment terminal in Port of Ust-Luga undergoes overhaul
14:02 Stena Line starts new service Liepaja - Karlskrona - Travemünde
13:26 MRA sets its sights on distance training
13:12 DEME repatriates 75 Philippine crew members from 12 vessels worldwide by charter flight from Brussels South to Manila
12:15 Evergreen joins the Ship Recycling Transparency Initiative
11:07 The port of Kiel starts the Cruise Season 2020
10:22 Bunker sales in Vladivostok in Jan-Jul plummet 30%
09:36 Baltic Dry Index as of Aug 3
09:30 Crude oil futures become cheaper
09:23 MABUX: Bunker market this morning, Aug 04

2020 August 3

18:43 CMA CGM announces Peak Season Surcharge rates from North Europe to Indian Subcontinent
18:06 Total seven-month cargo traffic in Azov-Don basin in Jan-Jul down 6%
17:55 Inmarsat, Thetius and Shell Shipping and Maritime launch 'Crew Welfare Open Innovation Challenge'
17:25 The PV300 MS Mustai Karim leaves Krasnoye Sormovo Shipyard basin, sets sail for St. Petersburg
16:42 Spot market price for Russian M100 product ended week higher
16:06 Russian Gov’t approves regulation on crab boats construction incentives
15:32 Kalmar delivers four medium and heavy forklifts to support Yizheng Port in meeting safety and environmental requirements
15:26 RZD seven-month loaded freight down 4.4%
14:18 Ust-Luga Company wins the Ust-Luga Cup 2020
13:24 Borr Drilling Limited enters into a new contract and LOIs for three rigs
13:08 Long-awaited project of Kalmykia’s Lagan Port becomes part of the federal transport territorial planning
12:46 MSC Cruises and Palumbo Group form joint venture to operate the Palumbo Malta Shipyard
12:23 OHT wins contract for transport and installation of foundations at Dogger Bank
12:20 RZD to resume traffic via new rail bridge across the Kola as of October 1
11:46 Eagle Bulk reports the successful resolution of security incident onboard vessel
11:10 Buyan-class corvette Grayvoron departs for Novorossiysk sea trials base
09:48 Crude futures prices edge down