• 2019 November 8 09:28

    MABUX: Bunker market this morning, Nov 08

    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.07:

    380 HSFO - USD/MT - 355.24 (-7.97)
    180 HSFO - USD/MT – 395.83 (-7.02)
    MGO - USD/MT – 667.85 (-3.44)


    Meantime, world oil indexes demonstrated irregular changes on Nov.07 after China hinted at progress toward a trade deal with the United States, raising hopes for an end to a long dispute that has weighed on economic growth and demand for fuel.

    Brent for January settlement increased by $0.55 to $62.29 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for December delivery rose by $0.80 to $57.15 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $5.14 to WTI. Gasoil for November delivery lost $3.50.

    Today morning oil indexes have turned into slight downward evolution.

    China said on Nov.07 that it had agreed with the United States for both sides to remove tariffs in phases, without specifying a timetable. A deal may be signed this month by U.S. President Donald Trump and Chinese President Xi Jinping at a yet-to-be determined location. The trade dispute has prompted the market to lower forecasts for oil demand and raised concerns that a supply glut could develop in 2020.

    Iran has stepped up activity at its underground Fordow nuclear plant: a move France said showed for the first time that Tehran explicitly planned to quit a deal with world powers that curbed its disputed nuclear work. In another development that could also aggravate tensions between Iran and the West, Iran briefly held an inspector for the U.N. nuclear watchdog and seized her travel documents. Iran said the inspector was prevented from entering the Natanz facility because of a concern she might be carrying "suspicious material". Besides, Iran's decision to inject uranium gas into centrifuges at Fordow, a move that further distances Iran from the accord, was described by Moscow as extremely alarming.

    Iraqi security forces shot dead at least four protesters in central Baghdad on Nov.07. Mass demonstrations continued for a 13th straight day with thousands thronging central areas of the capital. The country is beginning to feel the fiscal pinch of weeks of the unrest, which started in Baghdad and quickly spread to southern cities. It was reported that oil production and exports have not been significantly affected by the unrest. But the halting of fuel tankers that transport fuel from the Nassiriya refinery to regional gas stations caused fuel shortages across the southern Iraqi province of Dhi Qar. The refinery had recently been producing around half its capacity. The further escalation may set up momentum upward driver for fuel indexes.

    Venezuela’s state-held oil firm PDVSA has cut its outstanding debt to the largest Russian oil producer, Rosneft, to below US$1 billion. Rosneft has extended 6 billion USD of loans to PDVSA, which needs to be fully redeemed through crude oil supplies by the end of this year. Debt as at September 30, 2019, had dropped to 800 million USD, down from US$1.1 billion as at the end of the second quarter this year. As per U.S., Russia’s Rosneft is “really central to the regime’s survival,” because it buys the oil Venezuela produces and helps it to sell the oil and arrange the financing. The U.S. Administration is thinking about slapping sanctions on Rosneft, but it hasn’t done it yet, as it is looking at a broader context in its relations with Russia.

    Brazil may be able to produce in the future as much as 7 million barrels of oil per day (bpd). The South American oil producer, which currently pumps 3 million bpd of crude oil, could further consolidate its global position as an exporter of commodities. Production in Brazil is rapidly growing thanks to start-ups of new offshore oil fields. Total liquids production increased by 480,000 bpd year on year to 3.10 million bpd in August—a record high. The OPEC estimates that Brazil will be the second-largest contributor to non-OPEC supply growth this year and next, after the United States. Brazil, like the United States, is not part of the OPEC+ coalition that currently restricts production hoping to draw down global oversupply.

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




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