• 2019 November 6 10:42

    MABUX: Bunker market this morning, Nov 06

    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) changed insignificant and irregular on Nov.05:

    380 HSFO - USD/MT – 363.35 (-2.22)
    180 HSFO - USD/MT – 403.48 (-2.72)
    MGO - USD/MT – 670.76 (+3.03)


    Meantime, world oil indexes also changed sideways on Nov.05 on hopes for a U.S.-China trade agreement and optimism that Washington could roll back some of the tariffs it has imposed on Chinese imports.

    Brent for January settlement increased by $0.83 to $62.96 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for December delivery rose by $0.69 to $57.23 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $5.73 to WTI. Gasoil for November delivery lost $4.50.

    Today morning oil indexes have turned into slight downward evolution.

    A potential U.S.-China trade deal continues to underpin global oil indexes while chasing out some of the weaker shorts. On Nov.01, China said that it had reached a consensus with the U.S. in principle after a phone call among high-level trade negotiators last week. Meanwhile, the White House added in a statement that the trade representatives made progress in a variety of areas and are in the process of resolving outstanding issues, while discussions will continue at the deputy level. China also said, Chinese President Xi Jinping and U.S. President Donald Trump have been in continuous touch through “various means. In fact, China continues pushing U.S. President Donald Trump to remove more tariffs imposed in September as part of a so-called Phase 1 deal, which would help to ease the broad economic damage inflicted by the trade dispute between the world’s two biggest oil consumers.

    Iran says it will take a new step in reducing its commitment to a 2015 nuclear deal with world powers this week by injecting uranium gas into centrifuges at the Fordow facility. President Hassan Rohani said on November 5 that Iran will start injecting uranium gas into 1,044 centrifuges on November 6. Under the nuclear accord, the centrifuges are supposed to spin without gas injection. Enriched uranium can be used to make fuel for reactors, but also nuclear weapons. Iran insisted that all of the steps had been taken to reduce its commitments to the nuclear agreement were "reversible.": Tehran will uphold all of its commitments under the accord when the remaining signatories -- Britain, France, Germany, Russia, and China -- do the same.

    OPEC said it will supply a diminishing amount of oil in the next five years as output of U.S. shale and other rival sources expands. OPEC's production of crude oil and other liquids is expected to decline to 32.8 million barrels per day (bpd) by 2024. That compares with 35 million bpd in 2019. Rising climate activism in the West and widening use of alternative fuels are putting the strength of long-term oil demand under more scrutiny. Anyway, OPEC still hopes to boost production in coming decades thanks to its abundant and cheap-to-extract reserves. It expects supply from non-OPEC producers to hit a high of 72.6 million bpd in 2026 and fall to 66.4 million bpd by 2040.

    OPEC also reported, that the oil market outlook for 2020 may have upside potential, appearing to downplay any need for deeper cuts to production. The cartel and its allies led by Russia meet in December to review output policy. The so-called OPEC+ alliance has since January implemented a deal to cut oil output by 1.2 million barrels per day to support the market. The pact runs to March 2020.

    The glut of oil inventory that Venezuela has been nearly choking on in recent months appears to be finally draining, as the crisis-stricken country managed to send off 800,000 bpd of oil for a second month in a row. Its list of oil buyers have decreased dramatically due to US pressure in the form of sanctions. The list includes China, Russia, and Cuba for the most part, although India’s Reliance has recently resumed Venezuela oil imports as well. For now, it seems, this has been enough to lift the Latin America’s oil exports to 812,775 bpd, and enough to drain some of its excess inventory that have filled its storage to the brim and caused a blending unit, Petrosinovensa, to shutter as it had nowhere to put more product. Venezuela’s October exports were still 3.7% below September’s, and well below June’s exports of 1.13 million bpd.

    The source of the leak in the Keystone pipeline has still not been identified. There is no estimated timeline for a restart of the damaged pipeline. More than 9,000 barrels of oil spilled last week. Prices for Western Canada Select (WCS), a heavy blend of oil in Canada, fell sharply, dropping to a $22-per-barrel discount relative to WTI, the highest in nearly a year.

    The American Petroleum Institute (API) has estimated a crude oil inventory build of 4.26-million barrels for the week ending October 31, compared to analyst expectations of a 1.515-million-barrel build. Last week saw a draw in crude oil inventories of 1.7 million barrels, according to API data. The EIA’s estimates, however, reported a build of 5.7-million-barrels for that week. After yesterday’s inventory move, the net draw for the year has now shrunk to 8.26 million barrels for the 45-week reporting period so far, using API data. US crude oil production as estimated by the Energy Information Administration showed that production for the week ending October 25 stayed at 12.6 million bpd for the fourth week in a row—the highest production level that the United States has seen.

    We expect bunker prices may demonstrate irregular changes today in a range of plus-minus 3-5 USD.




2021 May 7

11:09 Castor Maritime buys a Kamsarmax dry bulk carrier
10:38 LR certification for one of Europe’s biggest windfarms

2021 May 6

16:17 Puget LNG and GAC Bunker Fuels join forces to supply LNG marine fuel by barge from the Port of Tacoma
15:53 Bunker Weekly Outlook, Week 18, 2021
15:41 Supply chain resilience solution: first supply-R pilot project completed with Shell
14:41 Damen launches Crane Barge in Yichang
14:32 Uni-Tankers invests heavily in intelligent engine management
14:29 Port of Corpus Christi Authority and Stabilis Solutions partner to construct LNG fueling Infrastructure for marine vessels
13:19 Continued growth, high profit and additional share buy backs from A.P. Moller - Maersk in Q1 2021
12:09 Mammoet on the company’s focus on projects for the renewables sector
11:42 CDC released guidance for cruise ships to undertake simulated voyages with volunteer passengers
10:57 Castor Maritime announces the en bloc acquisition of a tanke fleet consisting of 5 vessels

2021 May 5

15:33 Gibbs & Cox awarded $20M contract from Naval Surface Warfare Center, Philadelphia Division
14:18 Velesto Energy reports an incident with its rig VELESTO NAGA 7 at off the coast of Sarawak
13:41 Eastern Pacific Shipping and Rio Tinto enter charter for up to six dual-fuel LNG dry bulk carriers
12:48 New LNG bunkering barge from Titan LNG to supply Zeebrugge and English Channel regions
11:07 DNV awards AiP for new LNG fuel tank insulation with leak detection system

2021 May 4

17:24 SteelCoast’s growing momentum delivers gains
16:47 MPA announces full resumption of operations at the Port of Montreal and an end to the uncertainty
15:41 NAB strengthens long-term sustainability for Port of Newcastle landmark loan
15:21 MarineMax acquires KCS International, Inc. (Cruisers Yachts)
14:36 Tidal Channel into Bahia Grande closed until fall for $5M ecological restoration
13:47 USCG suspends response to overturned boat near Point Loma
12:38 BunkerMetric strengthens bunkering decision tool with wealth of Inchcape port call data
11:56 Government and business heads determine future of hydrogen at Ocean Now
11:04 Fednav welcomes the MV Arvik I - its newest icebreaking bulk carrier

2021 May 3

17:29 Total realizes France's first ship-to-containership LNG bunkering operation, after inaugural loading at Dunkirk LNG terminal
16:08 A-Navigation should be affordable and feasible for shipping companies – MARINET
15:36 IMO representatives consider Russian concept on a-Navigation convoy promising
15:18 Marlink Group closes the transaction on ITC Global
14:27 The U.S. Coast Guard suspends search for person in the water near Matagorda, Texas
13:48 A-Navigation will open up new opportunities for women involved in shipping activities
13:18 Carnival Breeze, Carnival Vista arrive in Galveston in advance of cruise rally at Port tomorrow
12:57 NTSB says maintenance error caused $2.2M marine accident with Canadian-flagged ship
12:43 Costa Cruises restarts from Savona with the flagship Costa Smeralda
12:07 Russia welcomes to benefit from its competences in Autonomous navigation safety
11:11 USCG searches for person in the water near Matagorda, Texas

2021 May 2

17:03 TNS Logistics relocates to Port of Brisbane
15:21 PSA Marine: Fueling connectivity with ONEHANDSHAKE™
14:18 Port Houston posts largest monthly container volume
13:44 Eidesvik announces sale of supply vessel Viking Athene
12:33 USCGC Hamilton conducts operations with Turkish navy
11:02 Port Canaveral first port in U.S. to support COVID-19 vaccinations for seafarers
10:53 Creek restoration partnership kicks off to improve waterway health
10:21 Port of San Diego to double shore power at cruise terminals
09:58 St. Tammany Corporation and Port NOLA sign MOU to attract manufacturing and distribution centers to the region

2021 May 1

16:18 CARGOES TOS+ (ZODIAC) completes “go-live” within 8 weeks at DP World Luanda terminal
15:12 GeTS Asia Pte Ltd receives SBR's Tech Award for Logistics
14:31 Höegh Autoliners set to launch the most environmentally friendly car carrier ever built
13:28 Puerto Rico Ports Authority and JAXPORT affirm longstanding partnership
13:14 Bergen Tankers put into service its LNG bunker vessel
12:29 Acergy Viking gets hybrid propulsion
11:17 Two USCG cutters arrive in Athens, Greece en route to their homeport in Bahrain

2021 April 30

19:23 Combi Lift returns to Damen for its new 111-metre Damen Stan Pontoon
18:05 Krasnoye Sormovo shipyard delivers dry cargo carrier Vladimir Latyshev
17:38 Some 16 bunkering companies to operate in Saint-Petersburg during summer navigation season
17:16 Global Ports Holding awarded Taranto cruise port
16:34 The CMA CGM Group announces the order of 22 new vessels
15:47 Multipurpose Reloading Complex in Ust-Luga increased handling by 22% in QI’2021
15:22 The Arbitration Tribunal rules the dispute between DP World PLC and the Kingdom of Belgium