• 2019 November 7 15:29

    MABUX: Bunker Market this morning, Nov 07

    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 irregular changes on Nov.06

    380 HSFO - USD/MT 363.21 (-0.14)
    180 HSFO - USD/MT 406.85 (-0.63)
    MGO - USD/MT 671.29 (+0.53)


    Meantime, world oil indexes declined on Nov.6 as U.S. crude stockpiles rose more, that expected.

    Brent for January settlement decreased by $1.22 to $61.74 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for December delivery fell by $0.88 to $56.35 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $5.39 to WTI. Gasoil for November delivery declined by $2.75.

    Today indexes continue to slide down.

    U.S. oil inventories rose much more than expected last week. According to the Energy Information Administration oil stockpiles rose by 7.9 million barrels, compared with expectations for an increase of about 1.5 million barrels.

    Beijing and Washington are closing in on a phase one trade deal, although today’s reports said Beijing is trying to push the U.S. to remove more tariffs on Chinese goods as part of the deal.

    Both countries have slapped tariffs on each other's goods in a trade war that has dragged on for 16 months. On Wednesday, there was still no indication that negotiators were ready to move Presidents Donald Trump and Xi Jinping from talking phase one to the signing of the agreement
    Also weighing on oil prices today were reports that the biggest producers in OPEC+ aren’t pushing for deeper oil-supply cuts when the group meets next month.

    At the same time OPEC in this annual report said, that marine fuel regulations on sulfur that go into effect January 1 will have a less disruptive — but still considerable — impact to the oil market than previously feared. Lower expected oil demand growth, a pick-up in the pace of scrubber installations and increases in the availability of compliant fuel will mitigate some of the market stresses. Recent assessments indicate that the global refining system will have sufficient flexibility to address the changes in the maritime sector’s fuel mix. Nevertheless, the impact on high sulfur fuel oil prices, the gasoil/HSFO spread, as well as HSFO-rich crude oil prices, will still be significant, although less severe than previously expected.

    The International Maritime Organization will implement rules limiting the sulfur con. OPEC’s outlook forecasts that compliance will be about 85% in 2020, up by about 10 percentage points from last year’s outlook. Compliance will rise to almost 90% by 2024 and to eventual near full compliance.It is also expected 2,500 vessels to have scrubbers installed in 2020, eventually rising to almost 5,500 ships. OPEC estimates that marine HSFO demand will decline from 3 million b/d in 2019 to 1.2 million b/d in 2020 and then recover to about 1.5 million b/d, due to scrubber installations. Diesel demand in the bunker sector is forecast to rise to about 1.5 million b/d in 2020, from about 900,000 b/d currently. Compliant 0.5% sulfur blend fuel will see demand increase to about 1.6 million b/d in 2020, from about 300,000 b/d currently.

    The United States will target shipping companies that are in breach of sanctions and aggressively enforce measures across the globe to clamp down on such practices. In one of the biggest sanctions actions taken by the U.S. government since its crackdown on Iranian oil exports, Washington imposed sanctions on Chinese companies in late September for alleged involvement in moving crude oil from Iran. COSCO Shipping Tanker (Dalian), a subsidiary of China’s state-owned shipping group COSCO, was one of the companies blacklisted. Concern over shippers falling foul of U.S. sanctions sent oil freight costs to record highs around the world, adding millions of dollars to the cost of every voyage. Washington has also used sanctions on other countries including Venezuela and North Korea.

    We expect bunker prices to demonstrate downward changes today: 3-5 USD down for IFO, 1-3 USD down for MGO.




2020 October 1

18:37 Construction starts on the world's largest floating offshore wind farm
18:04 Alfa Laval wins SEK 275 million off-shore orders
17:53 FueLNG drives LNG bunkering infrastructure expansion in Singapore
17:41 Throughput of port Azov in 9M’2020 fell by 10% YoY
17:14 KONGSBERG partners with CEMS
16:51 FESCO delivered equipment from Russia to Akkuyu nuclear power plant in Turkey
16:27 Marc Niederer appointed as Chief Operational Officer of Global Ports Management
16:04 Cargotec continues to evaluate strategic options for Navis business
15:34 Karstensens Shipyard awarded Wärtsilä the contract to deliver the main propulsion machinery for a trawler
15:19 FESCO to provide intermodal transportation of containerized cargo of Nornickel to Europe, Asia and America
15:04 Konecranes to deliver over 40 lifting products to Wärtsilä's Smart Technology Hub in Vaasa, Finland
14:58 MABUX Bunker Weekly Outlook
14:30 Wärtsilä appoints Håkan Agnevall as next President and CEO
14:25 NOVATEK’s shareholders approve interim dividends
14:02 Tallink Grupp suspends Helsinki-Riga route until spring 2021
13:40 Bunker prices continue decreasing in the Far East ports of Russia (graph)
13:24 Kalmar to supply Tan Cang - Phu Huu terminal with two Kalmar Zero Emission RTGs
13:16 Cargo traffic within Azov-Don Basin of Russia’s IWWs declined by 1% in 9M’20
12:47 Krasnoye Sormovo delivers last dry cargo carrier of Project RSD59 built for Pola Rise
12:21 Finnlines announces bunker surcharge for Malmö-Travemünde-Malmö
11:58 Supervisory Board of Tallinna Sadam extends powers of Management Board members
11:29 Cargotec and Konecranes to merge
11:23 Fincantieri delivers Enchanted Princess in Monfalcone
11:04 ZIM introduces the new Levant - Black Sea Express (LBX) Service
10:42 Russian Railways' network loading fell by 3.6% in 9M’ 2020
10:20 DEME launches its first ever Service Operation Vessel at the CEMRE shipyard in Yalova, Turkey
10:07 Registration continues for IAA PortNews’ conference “How many ships to be built in Russia?”
09:56 MABUX: Bunker market this morning, Oct 01
09:25 Oil market sees mixed price movements
09:07 Baltic Dry Index as of September 30

2020 September 30

18:06 Drone delivers package to inland vessel in port of Rotterdam
17:52 Investments into Astrakhan Region SEZ to exceed RUB 25 billion by 2026
17:36 Yang Ming announces new Chairman
17:20 Sredne-Nevsky Shipyard launches minesweeper of Project 12700, Georgy Kurbatov
17:06 Nexans to supply 46 kilometers of umbilicalsto Subsea 7 for Senegal’s first offshore oil development
16:57 LR awards Digital Safe Security certification to Evergreen for its 12k TEU container ship newbuilding
16:46 APM Terminals Poti reports record box throughput in Sept
16:28 Nikolai Artyomov appointed as General Director of Murmansk Shipping Company
16:19 Maersk despatches first train from Rotterdam to China
16:05 Austal Australia delivers 83 metre trimaran ferry to Jr Kyushu Jet Ferry
15:53 Krasnoye Sormovo shipyard launches dry cargo carrier Alfa Atlant
15:25 Acceptance/delivery certificate signed for Victor Chernomyrdin icebreaker
15:02 NYK Group RORO carrier rescues fishermen at the Strait of Malacca
14:17 Maersk launches its cold store in South Africa
14:12 Finnpilot to undergo reorganisation as of 1 October 2020
13:24 Port of San Diego celebrates completion of Tenth Avenue Marine Terminal modernization project
13:10 RS introduces new distinguishing marks for class notation
12:09 Detachment of RF Navy’s Pacific Fleet returned to Vladivostok after long range campaign in Asia-Pacific region
11:31 Russia’s seaborne cargo traffic turnover to rise by some 10% in 2020
11:04 Port of Los Angeles and Port of Long Beach to host Clean Air Action Plan update meeting
10:50 Rosmorport announces tender for dredging in Kavkaz port’s water area
10:23 Bunker prices decrease in the Port of Saint-Petersburg, Russia (graph)
09:36 MABUX: Bunker market this morning, Sept 30
09:35 Scorpio Bulkers announces the sale of a Kamsarmax vessel
09:27 Oil prices continue decreasing
09:12 Baltic Dry Index as of September 29
08:33 Keppel reaffirms Vision 2030 and rolls out next steps for implementation
07:29 ADNOC signs 25-year agreement to service all petroleum ports in Abu Dhabi

2020 September 29

19:01 Carnival Cruise Line’s Mardi Gras departs on sea trials
18:37 Great Lakes announces receipt of $105 mln Jacksonville deepening award