• 2019 October 29 10:47

    MABUX: Bunker market this morning, Oct 29

    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.28:

    380 HSFO - USD/MT – 363.54 (+2.21)
    180 HSFO - USD/MT – 405.27 (+3.48)
    MGO - USD/MT – 670.31 (+0.96)


    Meantime, world oil indexes fell on Oct.28 as expectations U.S. crude stockpiles will rise and worries about weak Chinese industrial data offset hopes oil demand will increase if talks progress on a Sino-American trade deal.

    Brent for December settlement decreased by $0.45 to $61.57 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for December delivery fell by $0.85 to $55.81 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $5.76 to WTI. Gasoil for November delivery lost $6.00.

    Today morning oil indexes have started in the phase of slight downward evolution again.

    After building for three weeks in a row, U.S. crude oil stockpiles at the Cushing, Oklahoma, delivery point for WTI, have risen by about 1.5 million barrels in the week through Oct. 25, (as per data from market intelligence firm Genscape). Total U.S. crude inventories were forecast to have increased by around 700,000 barrels last week.

    Russia said that OPEC and its oil-exporting allies would factor in the slowdown of U.S. oil output growth when they meet to discuss their output agreement in December. It was also noted that it is too premature to talk about deeper production cuts. A shale boom, led by output increases in Texas and North Dakota, helped make the United States the biggest oil producer in the world, above Saudi Arabia and Russia. However, the rate of growth has slowed this year as U.S. energy firms have reduced the number of oil rigs as producers follow through on plans to cut spending on new drilling this year.

    Top U.S. and Chinese trade negotiators have discussed a plan in which China would buy more farm products in exchange for the U.S. removing some tariffs. The outlines of the partial deal are striking since they would essentially attempt to take the trading relationship back to where it was before the trade war. Even still, there is a long way to go – for now, President Trump has only agreed to cancel the October 15 tariff increase on $250 billion worth of goods. China is offering more purchases, but also wants the planned December tariffs scrapped.

    Meantime, data released in China reinforced signs that its economy is slowing. 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 balance sheets.

    IMF predicted that Iran would need oil priced at $194.6 a barrel to balance its budget next year. Hurt by tighter U.S. sanctions, Iran is expected to have a fiscal deficit of 4.5% this year and 5.1% next year. Iran’s economy is expected to shrink by 9.5% this year, compared to a prior estimate of a 6% contraction, but real gross domestic product (GDP) growth is expected to be flat next year. The IMF forecast Iran’s exports of goods and services to drop to $60.3 billion this year from $103.2 billion last year, and to fall further to $55.5 billion in 2020.

    India, one of the drivers of oil demand growth in Asia and the world, has just seen its oil imports drop to three-year lows and fuel processing rates plunge to a 15-year low, as slowing economic growth is taking its toll on demand. Refinery runs in September were at their lowest in 15 years, amid waning demand for fuels. Crude oil processing in India dropped by 6.9 percent on the year in September, which was the largest annual decline since June this year. Some refineries were shut for maintenance and others for fuel upgrades because India is getting ready to migrate in April next year to less polluting fuels in order to cut emissions. It is expected that India’s economic growth is set to slow down in the near future, and this could further impact India’s fuel demand.

    We expect bunker prices may demonstrate slight downward evolution today in a range of minus 2-5 USD.   




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