• 2019 October 28 10:23

    MABUX: Bunker Market this morning, Oct 28

    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) slightly increased on Oct.25

    380 HSFO - USD/MT 361.33 (+2.43)
    180 HSFO - USD/MT 401.79 (+1.90)
    MGO - USD/MT 669.35 (+2.70)


    Meantime, world oil indexes demonstrated irregular changes on Oct.25 as gloomy economic growth forecasts renewed concerns over the outlook for demand

    Brent for December settlement increased by $0.35 to $62.02 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for December delivery rose by 0.43 to $56.66 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $5.36 to WTI. Gasoil for November delivery declined by $1.25.

    Today indexes decline as data released in China reinforced signs that its economy is slowing, though progress in China-U.S. trade talks has supported prices.

    Profits at Chinese industrial companies fell for the second straight month in September as producer prices continued their slide, highlighting the toll a slowing economy and protracted U.S. trade war are having on corporate financial results. At the same time, there are signs of progress in China-U.S. trade talks.

    The Office of the U.S. Trade Representative (USTR) said on Oct.25 that Beijing and Washington are close to signing a partial trade deal. U.S. President Donald Trump said on the same day that negotiations between the two sides “are doing very well.” The two sides issued a statement on Oct.25 saying they are close to finalizing some parts of a trade agreement.

    U.S. energy companies also reduced the number of oil rigs operating this week, leading to a record 11-month decline as producers follow through on plans to cut spending on new drilling. The US oil and gas rig count fell sharply this week, according to Baker Hughes, with a drop of 25 rigs for the week. This week marks nine decreases out of the last ten weeks. The total oil and gas rig count now stands at 830, or 238 down from this time last year. The total number of active oil rigs in the United States decreased by 17 according to the report, reaching 696. That marks the first time since April 2017 that the oil rig count has fallen below 700. The number of active gas rigs decreased by 4 to reach 133. At the same time, production has grown from 11.7 million bpd at the beginning of the year to 12.6 million bpd for week ending October 18—a growth of almost 1 million bpd in less than a year.

    Russia's energy ministry said on Oct.25 it is continuing close cooperation with Saudi Arabia and the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC oil producers to enhance market stability and predictability. The statement came a day after Igor Sechin, CEO of Russian oil producer, Rosneft, said the September attacks on Saudi oil assets created doubts over its reliability as a supplier. The attacks temporarily shut down around half of the kingdom's oil output. OPEC+, an alliance of OPEC members and other major producers including Russia, has since January implemented a deal to cut output by 1.2 million bpd to support the market. The pact runs to March 2020 and the producers meet to review policy on Dec. 5-6.

    Adding further support to prices, officials at OPEC said extended supply curbs are an option to offset the weaker demand outlook in 2020. Saudi Arabia, OPEC’s de facto leader, wants to focus first on boosting adherence to the group’s production-reduction pact with Russia and other non-members, an alliance known as OPEC+, before committing to more cuts.

    Elsewhere, a suggestion by U.S. President Donald Trump that Exxon Mobil or another U.S. oil company could operate Syrian oil fields drew rebukes from legal and energy experts.

    A surprise decline in U.S. inventories of crude also supported oil indexes. The U.S Energy Information Administration surprised the market on Oct.23 by announcing a 1.7-million-barrel drop in domestic crude stockpiles, versus analysts’ expectations for a 2.2-million-barrel build.

    Bunker prices are expected to demonstrate slight irregular changes today: 1-3 USD up for IFO, 1-3 USD down for MGO.




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