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  • MABUX: Bunker market this morning, Nov 08
  • 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.




2022 January 28

18:30 Smooth Ports completes the first project phase of the project
18:12 Two oil garbage disposal vessels put into operation in Novorossiysk
18:05 MOL and Mitsui sign time charter contract for LNG carrier
17:56 Finnlines upgrades its Finland–Sweden route
17:36 NRP Maritime Asset Management announces launching and first close of Premium Maritime Credit Fund
17:26 NYK and Uyeno Group form capital and business alliance
17:06 UPM sets its sights on Rotterdam for new biorefinery
16:51 New fairway drafts offer shipping greater flexibility on Lower and Outer Elbe
16:41 GCT Bayonne orders Konecranes Noell Sprinter Carriers
16:31 ZIM provides update on operational cooperation agreement with the 2M Partners
16:21 ENEA and Fincantieri team up for energy, environment, and circular economy
16:15 Furetank orders new climate friendly tanker for a green fleet
16:10 MAN Energy Solutions delivers engines to Chantiers de l’Atlantique
15:57 USCG intercepts 191 Haitians near Bahamas
15:55 Project cargo on the rise at Port of Antwerp thanks to EU Green Deal
14:26 Tenders for dredging and cleaning of Saint-Petersburg waterways to be announced by ad hoc municipal committee
14:03 Damen Shipyards to build four RoPax ferries for Penang Port, Malaysia
13:41 Nefteflot lays down survey ship of Project RDB 66.62
13:27 Ulstein awarded offshore wind ship design contract for Shanghai Electric and ZPMC
12:34 Universe Shipping opts for RMS 2000 V-rotor systems from Damen Marine Components
12:02 EST-Floattech delivers battery systems to 3 Damen Patrol Vessels 1304 Electric
11:30 KSK Grain Terminal handles grain vessel of 120,000 tons in capacity
11:01 MarineMax reports record fiscal 2022 first quarter results
09:59 RF Navy's frigate Admiral Gorshkov practiced artillery firing in the Barents Sea
09:34 Baltic Dry Index as of January 27
09:16 Crude oil market sees upwards price correction
08:57 MABUX: No firm trend expected on Global bunker market on Jan 28

2022 January 27

18:35 ABP launches the first of its new tranche of port-manufacturing sites at Port of Hull
18:05 Indian Register of Shipping classes first 100 pax hybrid catamaran (battery powered) ferry
17:52 Onezhsky Shipyard launches lead crab catching ship built for Russian Crab Group
17:35 Kawasaki Heavy Industries announces delivery of LPG-fueled LPG carrier CRYSTAL TRINITY
17:05 NAPA and MOL roll out digital Navigational Risk Monitoring Solution on over MOL’s 700+ ships
16:45 Port of Antwerp, North Sea Port Flanders and Port of Zeebrugge launch the stimulus programme ‘Accelerating modal shift’
16:36 Construction of digital shipyard commenced at Onezhsky Shipbuilding, Ship Repair Yard
16:17 Suez Canal Economic Zone signs local and foreign contracts for Sokhna port new berths works
15:35 Construction of support fleet base in Ust-Luga approved by Glavgosexpertiza
15:32 ABS grants AIP to a coordinated design for a wind turbine installation vessel
15:14 Tarragona Port Authority has awarded Global Ports Holding a 12-year concession to manage the services for cruise passengers
15:00 Marine Rescue Service removed all oil products from Chinese ship Xing Yuan
14:53 Cooperation Agreement signed between ThPA S.A. and Suez Canal Economic Zone
14:42 DP World joins forces with Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping
14:32 A.P. Moller - Maersk shares millions of weather observations to aid climate science
14:22 IMB releases 2021 Piracy and Armed Robbery Report
14:04 FESCO launches regular container train from Vladivostok to Ulyanovsk
13:40 Swissterminal starts a new rail link between the port of Antwerp and Ottmarsheim
13:28 FESCO confirms compliance with standards for operation of vessels in US waters
13:03 Georgia Ports Authority tops 5.5M TEUs, 650K units in 2021
12:49 NYK delivers methanol-fueled chemical tanker
12:02 Throughput of Yeisk port in 2021 remained flat, year-on-year
11:30 Tallink Grupp’s vessel Baltic Queen heads to Naantali, Finland for regular dry-docking
10:56 Throughput of Temryuk port in 2021 rose by 10.3% YoY
10:37 MABUX: Bunker Weekly Outlook, Week 04, 2022
10:33 Haldor Topsoe becomes member of Hydrogen Council to promote green hydrogen solutions
09:48 Registration is underway for 5th Hydraulic Engineering and Dredging Congress
09:29 Baltic Dry Index as of January 26
09:12 Crude oil prices decrease on reduction of supply disruption risks
08:57 MABUX: Global bunker market to continue firm upward evolution on Jan 27

2022 January 26

18:06 Safe Bulkers announces agreement for the acquisition of one Capesize class dry-bulk Japanese vessel
17:54 Olga Naumova takes helm of Russian Fishery Company
17:41 Shearwater GeoServices awarded Western Australia multicomponent surveys by Santos