• 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.




2021 April 20

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
13:01 Bollinger Shipyards acquires Gulf Island Fabrication’s shipyard facilities
12:57 Icebreaker assistance period ends at Big Port St. Petersburg from April 21
12:30 Port of Helsinki cargo traffic up 3.6% in Q1 2021
12:11 Port of Antwerp expands its fleet with energy-efficient tugs
11:59 Investments at the Port of Gdynia – earlier than planned
11:18 Crowley completes first U.S. design for fully electric tug with autonomous technology
11:06 Admiralteiskie Verfi shipyard commences mooring trials of diesel-electric submarine named Magadan
10:35 Northern Dvina Basin Administration opens navigation season of 2021
10:07 SMW 2021: Maritime innovation in Singapore receives boost
09:48 KN and AFRY sign agreement on long-term capacity allocation and pricing model study of Lithuanian LNG terminal
09:29 Oil prices rise on OPEC+ expectations
09:12 Baltic Dry Index as of April 19

2021 April 19

18:47 550 industry leaders discussed navigating maritime industry transformation through collaboration
18:30 Offshore International joins forces with Mammoet to deliver turnkey logistical solutions
18:16 Industry collaboration to develop guidance on the safe use of Ammonia as a fuel
17:57 RFC to provide personal scholarships to naval cadets
17:36 Milaha and Schlumberger commence well stimulation vessel operations in Qatar
17:16 CMA CGM launches SERENITY deductible guarantee
17:06 Dublin Port volumes down by 15% in Q1 2021
16:49 Rosmorport continues ensuring safe pilotage of gas tankers arriving from Russian Arctic to LNG handling facility
16:30 BAR Technologies and Yara Marine partner to bring WindWings to global shipping market
16:03 4th Advanced Maritime Leaders’ Programme to focus on leadership in times of global crisis
15:37 Average spot market price for Russian M100 product fell to RUB 22,219 pmt
15:36 Wärtsilä navigation systems to secure safe and efficient operation for 10 LNG gas carriers in Arctic operations
15:15 Throughput of Port Vanino in 3M’21 rose by 7%
14:48 Ten companies and one individual recognised for contributions to Maritime Singapore at Singapore International Maritime Awards 2021
14:22 BLRT Group builds unique Launch and Recovery System for Namibian offshore diamond recovery vessel
13:43 Economic effect of Sea Port of Saint-Petersburg’s production system project exceeded RUB 100 million
13:21 Equinor reveales the deviation in quality of welding and inspection of the Johan Castberg production vessel
12:46 Resilience, digitalisation, decarbonisation and talent take centre stage at Singapore Maritime Week 2021
12:12 DP World, UAE Region is the first in the region to explore the Quantum Computing technology
12:02 RF Government approves roadmap on implementation of Arctic Development Strategy
11:41 Samskip to participate in new Norwest Baltic Route
11:10 Klaveness Combination Carriers offers low-carbon freight to the growing Australian lithium industry
10:50 Freeport of Riga took part in international logistics exhibition “TRANSRUSSIA”
10:13 Container throughput of Hong Kong port (China) in January-March 2021 rose by 2.4%
09:45 Port of Helsinki throughput in January-March 2021 rose by 3.6% YoY
09:26 Oil prices are slightly down
09:09 Baltic Dry Index as of April 16

2021 April 18

16:18 USCG says two crewmembers recovered from capsized lift boat
14:27 Port Canaveral to host commercial vessels for U.S. reflag conversion process
13:48 ABP expands customer offer at Port of Garston
13:11 Suez Canal Authority permitted two personnel of the crew members of the Panamanian vessel to leave for urgent personal circumstances
12:34 IACS announces Incoming Council Chair
11:33 Maritime NZ welcomes new Chief Executive
11:03 RMC and TT-Line ink contract for car and passenger ferry duo
10:25 Local start-up Machine Eye wins £75k in funding from Techstart Ventures and Belfast Harbour
09:41 Logistics services in Dunkerque-Port are expanding with innovative solutions
09:17 USCG recovered one crew member Thursday night from missing lift boat crew

2021 April 17

15:41 BW LPG sells VLGC "BW Empress"
14:23 USCG continues search for missing people from capsized vessel
13:19 Silverstream Technologies and Shell successfully complete trials of the Silverstream® System onboard the LNG carrier Methane Patricia Camila