• 2019 October 25 09:13

    MABUX: Bunker market this morning, Oct 25

    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 trend on Oct.24:

    380 HSFO - USD/MT – 358.90 (+3.66)
    180 HSFO - USD/MT – 399.89 (+2.91)
    MGO - USD/MT – 666.65 (+0.94)


    Meantime, world oil indexes also rose on Oct.24 amid a surprise drop in U.S. crude inventories and the prospect of further action by OPEC and its allies to support the market.

    Brent for December settlement added $0.50 to $61.67 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for December delivery rose by $0.26 to $56.23 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $5.44 to WTI. Gasoil for November gained $8.25.

    Today morning oil indexes turned into slight downward evolution again.

    Although trade talks over the first phase of a partial trade deal between the United States and China are progressing well, the market does not feel an agreement between the two economic powerhouses will have much of a positive impact on demand until the tariffs are lifted. Meantime, the market is currently being supported by the prospect of additional production cuts by OPEC and its allies. However, traders may not know for certain if this will happen until producers meet to review policy on December 5-6.

    Goldman lowered its forecast for U.S. oil production growth to 0.7 million barrels per day (bpd) in 2020, down sharply from its 1 million bpd forecast previously. Goldman attributed the downward revision not just to a slowdown in drilling, but also to “updated longer-term decline rates to be consistent with play-to-date results,” which could be interpreted as shale wells are not performing as well as previously anticipated. In the short run, Goldman predicts oil prices are languishing below $60 per barrel, and little will change.

    The U.S. Energy Information Administration reported a 1.7-million-barrel crude inventory drop last week, versus expectations for a build of 2.2 million barrels. The surprise draw was caused by a significant drop in crude imports. Despite being the world’s largest producer of light crude, the United States still buys significant volumes of heavy grade crude each week from Middle East and other producers.

    A report from Germany reinforced the view of a global slowdown after the IHS Markit flash German manufacturing PMI inched up to 41.9 in October from September’s decade-worst 41.7, which is still a reading that shows the factory segment of the country’s economy in dire straits. Readings below 50 indicate contraction.

    Sweden, the leader in the share of renewable energy use in the European Union (EU), targets to eliminate subsidies for onshore wind farms by the end of 2021, at around the same time as neighboring Norway. Sweden generates more than 54 percent of its electricity from renewable sources on a sustainable basis. As early as in 2012, the Scandinavian country reached its 2020 target to have 50 percent of energy use from renewables. The country is targeting 100 percent renewable electricity generation by 2040. Hydropower and bioenergy are the top sources of renewable energy in Sweden, but wind generation has soared over the past decade and a half.

    Russia’s largest oil company Rosneft has already completed the switch away from the U.S. dollar to euros in its export contracts to minimize risks from potential new U.S. sanctions. Rosneft is the biggest oil exporter from Russia, selling around 2.4 million barrels per day (bpd) of oil. According to Rosneft, the Chinese yuan could become a much more important global currency in the future, because of Chinese economic growth. The share of the U.S. dollar in the global oil and oil products trade is around 90 percent currently,  but in ten years’ time, due to the Chinese economy, the yuan could raise its share from the current 2 to 5 percent.

    We expect bunker prices may rise today slightly in a range of plus 2-7 USD.




2020 June 2

10:29 “Zigh” Ship Repair and Construction Yard completes high-quality overhaul of “Nakhchivan” ferry vessel
09:58 Oil prices rise within $1
09:40 RS specifies requirements to roadster and harbor craft
09:23 MABUX: Bunker market this morning, June 02
09:12 Baltic Dry Index on June 1

2020 June 1

18:37 KIZAD breaks ground on largest rest, refuelling facility in region
18:21 Christophe de Margerie completes eastbound transit of NSR two months earlier than usual
18:13 Tallink Grupp to reroute its vessel Isabelle to operate on the Paldiski-Kapellskär route from 7 June 2020
18:07 ZIM starts eCommerce Xpress
17:52 Tallink to provide weekly sailings to Mariehamn in June and July 2020
17:29 Tallink adds more departures and additional vessel to Tallinn-Helsinki route
17:05 CMA CGM has announced FAK rates from North Europe to Mexico East Coast, USEC and USGULF & USWC
16:48 Throughput of port Azov in 5M’2020 fell by 9% YoY
16:30 Speakers announced for webinar “River fleet of the USA and Europe. What is useful for us or how do they make profit?”
16:05 MV Barracuda makes the first switch from dry cargo to jet fuel
15:26 Oil shipments via CPC Marine Terminal in 5M’20 climbed by 8.3% YoY
15:01 CMA CGM announces FAK rates from the Mediterranean to USEC, USGULF, Mexico East Coast and Canada East Coast
14:57 CANDEN Marine Fuel Services joins Glander International Bunkering Group
14:55 Average wholesale prices for М-100 HFO rose to RUB 6,641 in RF spot market
14:33 Northern Sea Route cargo traffic in 5M’2020 rose by 2.95%
14:10 Bollinger Quick Repair takes delivery of new dry-dock – “MR. Eddie”
13:52 Shuttle tanker Mikhail Ulyanov loads 200th crude oil cargo for Prirazlomnoye project
13:10 Neptune Energy welcomes DEME as a partner in the PosHYdon offshore green hydrogen pilot
12:46 Russian Railways' network loading fell by 4.5% in 5M’ 2020
12:10 Tanger Med partners with the initiative of the largest world ports to guarantee the continuity of international supply chains
11:57 Vladimir Putin approved a list of instructions following a meeting on transport sector development
11:31 CMA CGM ends PSS for exports from East Russia
11:05 Van Oord develops Green loan framework
10:30 CMA CGM announces PSS for Reefer Exports from Europe to West Africa (Nigeria excepted)
10:03 Oil prices decrease by about $1
09:46 Royal IHC to deliver design package and key components for new TSHD of Weeks Marine
09:42 Shipbuilding and Ship Repair Yard named after Lenin launched crane ship built for RF Navy
09:20 Baltic Dry Index on May 29
08:39 MABUX: Bunker market this morning, June 1

2020 May 31

16:57 RINA: shareholders’ meeting approves the financial statement for 31 December 2019 and appoints a new Board of Directors
15:31 Board appoints non-executive director at V.Group
14:48 MM&P seeks help from Congress in battle to repatriate offshore crews
13:24 Svitzer A/S names new CEO
12:31 Subsea 7 announces cost reduction measures
10:52 Drydocks World begins second project for the Hollandse Kust Zuid Windfarm

2020 May 30

16:23 APL England master faces charges over shipping container loss
15:27 Xeneta Container Rates alert: continued global uncertainty hits rates, but worst fears yet to be realised
14:32 EC approves €600 million Finnish guarantee scheme to support maritime companies affected by the coronavirus outbreak
13:12 Bollinger Quick Repair takes delivery of new dry-dock “Mr. Eddie”
11:47 Sanmar and Svitzer deliver power and performance to Port of Sohar
10:58 Coast Guard Cutter James seizes 3,350 lbs of marijuana off Central American

2020 May 29

18:36 Port of Marseille Fos to constuct a new international ferry terminal
18:20 Sea Port of Saint-Petersburg boosts its infrastructure investments by 40%
18:06 PIL starts a new India Service - China India Express (CIX)
17:51 Petrotrans takes delivery of lead ship of Project RSD59
17:36 Rolls-Royce seals major contract covering complete MTU propulsion systems for Royal Navy Type 31 frigates
17:14 United Shipbuilding Corporation developed its own cargo ship design
17:06 ECSA welcomes TRAN opinion on future EU-UK partnership and urges rapid advancement of the talks in view of the looming deadline
16:15 Port Authorities pledging support to keep ports open during COVID-19 more than doubles within a month
15:52 Market of seaborne cargo transportation for wind farms is stable and expected to grow
15:46 Viking Line starts a passenger service from June 1
15:05 KiwiRail orders two new ferries
14:49 Admiral Makarov University introduced new GMDSS simulator class
14:05 Bollinger Shipyards delivers the USCGC MYRTLE HAZARD to the U.S. Coast Guard
13:41 Smart Delta Resources launches project to substantially reduce CO2 emissions in Scheldt-Delta region