• 2019 November 12 10:23

    MABUX: Bunker market this morning, Nov 12

    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) slightly decreased on Nov.11:

    380 HSFO - USD/MT – 349.19 (-2.39)
    180 HSFO - USD/MT – 390.79 (-2.82)
    MGO - USD/MT – 663.61 (-0.85)


    Meantime, world oil indexes changed irregular on Nov.11 amid renewed doubts over the prospects of a trade deal between the United States and China, while concerns over excess supplies also weighed on the market.

    Brent for January settlement decreased by $0.33 to $62.18 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for December delivery fell by $0.38 to $56.86 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $5.32 to WTI. Gasoil for November delivery gained $7.00.

    Today morning oil indexes do not have any firm trend so far.

    Trump said on Nov.09 that trade talks with China were moving along "very nicely," but the United States would only make a deal with Beijing if it was the right one for America.

    The 16-month trade war between the world's two biggest economies has slowed economic growth around the world and prompted analysts to lower forecasts for oil demand, raising concerns that a supply glut could develop in 2020. Trump also said there had been incorrect reporting about U.S. willingness to lift tariffs as part of a "phase one" agreement, news of which had boosted markets. Underlining the impact of the trade war, data over the weekend showed that China’s producer prices fell the most in more than three years in October.

    Chinese data during the weekend showed continued weakness in Chinese economic growth. China’s producer price index (PPI) slumped the most in October since July 2016, while car sales fell for the 16th month in a row. Both sets of data suggest that China’s economic growth continues to slow down, which, combined with an overall global economic growth slowdown, doesn’t bode well for oil demand growth, and consequently, oil and fuel prices.

    Germany insists that Britain and France together with Germany must be ready to react to Iran's breaches of its 2015 nuclear deal and this could mean reimposing international sanctions on Tehran, though Europe still wants to save the accord. Iran said last week it had resumed low-grade uranium enrichment at its underground Fordow nuclear plant and at the weekend said it could refine up to 60% of fissile purity, not far off the 90% level needed for nuclear bomb fuel - its most significant breaches of the deal with world powers. So far, the European position is that the International Atomic Energy Agency and its inspectors must first verify Iran's latest announcements on enrichment.

    The statistics published by Baker Hughes last Friday showed that the Oil Rig Count in the USA reached the lowest level over the previous 31 months: the indicator lost 8 units and now equals to 684. The total number of rigs lost 7 units, down to 817 overall. As a result, the actual reading is close to April of 2017. Since the beginning of 2019, the indicator has dropped 23%, but without influencing the total oil extraction as it has added 8% over the same period. The latest numbers showed that the daily oil output in the USA stopped at 12.6 million barrels per day.

    It is expected that the introduction of the 0.50% global sulphur cap will increase the need for additional IMO 2020-compliant fuel and blend component tank storage. ARA and Houston are the largest in terms of tank capacity, followed by Singapore and Fujairah, and all these hubs have demonstrated a similar growth trajectory, albeit starting at different moments in time. Global tank capacity (i.e. all those terminals that rent out capacity to third parties) is currently around 1 billion cubic metres (cbm), with these four bunker hubs together accounting for a market share of just under 10%. Moderate oil price levels as well as price volatility moving upwards were positive indicators for the tank storage business, whereas low stock levels and an oil price forward curve in backwardation could be considered as negative sign.

    Meantime, forecast said that the anticipated switch to pricier 0.50% sulphur fuels from 1 January 2020 will mean that trading conditions for ageing and inefficient tonnage become more challenging. IMO 2020 will add an additional cost on top of typical expanded off-hire periods and greater maintenance and repair expenses. Scrapping activity will likely stay at minimal levels over the next few months on the expectation that IMO 2020 disruptions and seasonal strength in refining runs — plus geopolitical uncertainty and weather-related delays — could support tanker earnings during winter. However, this situation could change in the transition to Q2 2020.

    We expect bunker price changes may be insignificant and irregular today in a range of plus-minus 3-5 USD.




2020 November 24

09:02 East Coast Australia JIP delivers a new interactive dashboard for LNG forecast

2020 November 23

18:24 North P&I Club pre-renewal report confirms corrective response to market challenges
18:00 RF Government is set to reorganize the structure of development institutions
17:13 4th International Congress “Hydraulic Engineering Structures and Dredging” slated for 25-26 February 2021
16:34 Damen completes Eidsvaag Opal conversion
16:28 STLC and VEB-Leasing to be consolidated into Unified Leasing Company
16:05 Aker Solutions wins maintenance and modifications contract in Brazil from Equinor
15:41 Vard secures contract for eight marine robotic vessels
15:17 RF Transport Ministry confirms its intention to introduce investment charges in seaports from 2021
14:53 Hydrographic boat of Project 19920 joins RF Navy’s Northern Fleet
14:31 Concordia Maritime CFO resigns from his position
14:09 Friendship 2020 joint exercise of the Egyptian Navy and the Russian Navy Bridge ends at the Black Sea Fleet
13:25 Ningbo Containerized Freight index rises by 19.8% in November 2020
12:34 Average spot market price for Russian M100 product climbed to RUB 13,184 pmt
12:12 The UK could increase its ambitions for renewable energy at a lower cost to consumers, new Wärtsilä analysis finds
12:02 Chinese ports container throughput down 0.03% to 217.2 million TEU from January to October 2020
11:53 Global Ports and TransContainer launch expedited delivery of pellets from Siberia to Europe via Saint Petersburg
11:11 Brodosplit lays keels for two coastal patrol vessels
10:19 HELCOM revamps its tool for tracking implementation progress
10:12 MacGregor supports China’s Lingshui 17-2 gas field development
09:57 MABUX: Bunker Market this morning, Nov 23
09:41 Container throughput of port Shanghai (China) in 10M’20 fell by 1.7%
09:25 Oil prices rise on hope for demand recovery
09:12 Baltic Dry Index as of November 20

2020 November 22

16:23 Ørsted and NABTU sign landmark MOU for U.S. offshore wind workforce transition
15:18 Port Canaveral cruise terminal parking to feature E-PASS® contactless transaction technology
14:21 USCG Cutter Stratton returns home after crewmembers test positive for COVID
13:26 New Wallenius SOL service delivers 200,000 extra tonnes of paper reels to PSA Zeebrugge terminal
12:18 Port NOLA's Brandy D. Christian receives 2020 C. Alvin Bertel Award
11:41 BPA announces the release of UK Ports industry magazine
10:42 Coast Guard Cutter Diligence returns to homeport from Caribbean patrol

2020 November 21

16:12 Impact assessment agency of Canada interim report an incomplete analysis omitting a number of important facts
15:49 Cummins introduces X15 Stage V solution for European inland waterways
15:18 Belfast Harbour supports launch of Maritime Belfast Trust
14:07 Remote repair helmet overcomes pandemic restrictions
13:39 Armstrong Marine USA of Port Angeles, Wa. launches new identity as BRIX MARINE
12:24 Mackay provides electronics package for two Vigor-built pilot boats commissioned by Los Angeles Pilot Service
11:38 Third quarter 2020 business activity strong CMA CGM Group operating performance

2020 November 20

18:00 CMA CGM to launch the FLAMINGO EXPRESS service
17:49 Senior Arctic Officials’ plenary meeting held in a virtual format
17:05 Australia to end crew contract extensions
16:52 Port of Algeciras was awarded the ESPO Award 2020
16:33 FSUE "Rosmorport" takes part in International Forum "Transport of Russia"
16:05 MOL's new app boosts efficiency with real-time processing of ship operational data
15:40 Novotrans ensured 100-pct loading of Baltiysk ferry on Ust-Luga-Baltiysk line
15:08 ABP invests around £2 million in new lock gates in Ipswich
14:22 PD Ports unveils plans for River Tees Digital Platform
14:05 Rosterminalugol handled over 23.4 million tonnes year-to-date, up 8% YoY
13:44 Tallink receives Finnish Government guarantee for additional loan
13:21 Golar and Black & Veatch announce collaboration in floating ammonia production, carbon capture, green LNG and other emerging technologies
13:03 Zvezda starts cutting steel for lead LNG tanker of new ARC 7 class series
12:10 The “ECO Valencia” arrives to València
11:37 Maersk works with the Long Beach Harbor Trucking Association
10:55 MABUX: Bunker Market this morning, Nov 20
10:46 Wärtsilä 14 EU Stage V compliant engines selected for Swiss Inland ferries
10:44 Sovcomflot expects revival of global trade in 2021
09:51 Bunker prices decrease at the Port of Saint-Petersburg, Russia (graph)
09:33 Oil prices are recovering
09:18 Baltic Dry Index as of November 19

2020 November 19

18:25 Klaveness Combination Carriers posts Q3 2020 results