• 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 July 8

18:11 Carnival Cruise Line sets ship delivery changes and related deployment plans
17:50 POWERGLOBE seeks for 10 years LNG vessel charter-agreement
17:27 Maritime partners unveil Autonomous Guard Vessel
17:03 THE Alliance announces COVID-19 response measures for August 2020
16:48 SaR operation in Singapore: man overboard incident
16:20 Throughput of Rostov-on-Don port in 6M’2020 grew by 10% Y-o-Y
16:13 Maritime industry calls for EU political leadership on seafarers
15:23 Port of Antwerp total throughput down by 4.9% in H1 2020
14:03 Wärtsilä introduces the system, designed to reliquefy boil-off gas onboard gas carriers and LNG bunker vessels
13:45 RF State Duna adopts a package of laws on privileges in the Arctic
13:12 PD Ports wins major pipeline contract with Global Manufacturer at Hartlepool
12:44 DCSA publishes standards for digital exchange of operational vessel schedules
12:18 Germany takes over HELCOM chairmanship
12:11 Seanergy Maritime announces agreement to acquire a Capesize vessel with prompt delivery
11:55 Russian Fishery Company fleet renewal to reduce carbon footprint by 50%
11:29 Pella Shipyard delivers patrol boat of Project 03160
11:04 Austal delivers first of two 118 metre trimarans to Fred. Olsen Express
10:43 Barcelona Cruise Port obtains the 'Safe Travels' Stamp, as safe infrastructures preventing COVID-19
10:32 Throughput of Rosterminalugol in HI’2020 grew by 10% YoY
10:04 ESPO says EU Taxonomy should align with already defined sectoral sustainability criteria
09:40 Oil prices continue decreasing
09:37 MABUX: Bunker market this morning, July 08
09:23 Bunker prices rose at the Port of Saint-Petersburg, Russia (graph)
09:08 Baltic Dry Index as of July 7

2020 July 7

18:06 ZIM unveils new digital services
17:49 Great Arctic Regatta started in Saint Petersburg
17:27 Crude exports via Kozmino in HI’2020 grew by 5% YoY
17:02 Deepsea Atlantic drilling rig returning to Johan Sverdrup
16:35 Optimarin successfully completes IMO G8 and USCG test programme
16:12 Alfa Laval takes its service offer to the next level through remote service guidance
15:56 New ferry line Baltic Link launched at the port of Riga
15:28 RF Government allocates RUB 320 million to subsidize shipping companies
15:02 ABP delivers project cargo using North Lincolnshire’s waterways
14:32 Air Liquide and the Port of Rotterdam Authority launch initiative for hydrogen road transport
14:02 Konecranes to deliver mobile harbor crane to new terminal in Trieste
13:46 Bunker prices rise at the Far East ports of Russia (graph)
13:32 KNOT concludes long-term charter contract with PetroChina for shuttle tanker
13:11 CMA CGM announces GRR from Asia to West Africa
12:49 Throughput of Vostochny Port in HI’2020 grew by 6% YoY
12:30 GTT Training and Wavelink Maritime Institute in collaboration to deliver LNG training in Singapore
12:23 Tom Hautekiet becomes new CEO Port of Zeebrugge
12:01 IMO endorses guidance on ensuring seafarers’ access to medical care onshore
11:58 NRP facilitates long-term financing for a newbuilt arctic container vessel
11:00 The CMA CGM Group simplifies its trade network on the Transpacific trade
10:52 First jacket successfully installed at Moray East, Scotland’s largest offshore wind farm
10:52 Aker Arctic joins ePIcenter project
10:14 MABUX: Bunker market this morning, July 07
10:08 Zvezda shipyard starts steel cutting for nuclear-powered icebreaker Rossiya, Project 10510
09:31 Oil prices are decreasing
09:13 Baltic Dry Index as of July 6
08:40 Klaveness Combination Carriers secures the first sustainability linked bank financing in Norwegian shipping

2020 July 6

19:07 Equinor awarded framework contract for engineering and installation services on Statfjord
18:27 CMA CGM to launch Round the Africa service
18:07 APM Terminals Buenos Aires facilitates first ever export of lemons from Argentina to China
17:31 Northern Sea Route cargo traffic in 6M’2020 reached 14.8 million tonnes
17:30 Kloosterboer starts construction of Cool Port II at City Terminal Rotterdam
17:06 ArcelorMittal issues invitation to tender for heat network in North Sea Port
16:45 Damen delivers five zero emissions propulsion ferries to Arriva in Copenhagen
16:12 Kvaerner improves financial results and outlook
15:32 Average wholesale prices for М-100 HFO fell to RUB 9,623 in RF spot market