• 2019 November 13 09:25

    MABUX: Bunker market this morning, Nov 13

    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) continued downward evolution on Nov 12:

    380 HSFO - USD/MT - 345.08 (-4.11)
    180 HSFO - USD/MT – 387.39 (-3.40)
    MGO - USD/MT – 662.90 (-0.71)


    Meantime, world oil indexes also declined on Nov.12 after President Trump disappointed the market again over “phase one” of the U.S.-China deal.

    Brent for January settlement decreased by $0.12 to $62.06 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for December delivery fell by $0.06 to $56.80 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $5.26 to WTI. Gasoil for November delivery lost $8.50.

    Today morning oil indexes continue slight downward evolution as prospects for a trade deal between the United States and China dimmed, weighing on the outlook for the global economy and energy demand.

    U.S president Donald Trump said the United States is close to signing a "phase one" trade deal with China, adding in a speech to the Economic Club of New York he will only accept a deal if it is good for his country and U.S. workers. For weeks Trump has said the countries are close to a deal that would end their damaging trade war. He has also said the signing could take place in a rural part of the United States. He also said there had been incorrect reporting about U.S. willingness to lift tariffs.

    Oil indexes were also pressured by expectations that U.S. crude inventories rose again last week, climbing by 1.6 million barrels after the previous week’s jump of nearly 8 million barrels.

    At the same time oil prices were underpinned by U.S. data showed that crude inventories at Cushing, the delivery point for WTI, fell by about 1.2 million barrels in the week to Nov. 8, traders said. Cushing inventories had grown for five weeks in a row through Nov. 1, according to government data.

    However, crude stockpiles nationwide were forecast to have risen last week for a third week in a row, a preliminary poll ahead of government data due on Thursday showed. Weekly energy data has been delayed a day due to the Veterans Holiday on Monday.

    A forecast by the International Energy Agency's for slower global oil demand growth post-2025 also weighed on the market. Global oil demand growth is expected to grow by 1 million barrels per day on average to 2025 but is forecast to slow to an average of 100,000 bpd a year from then on as fuel efficiency improves and more electric vehicles hit the road, the IEA said in its annual World Energy Outlook for the period to 2040.

    Even as production growth in the United States slows from breakneck pace of recent years, the world's top oil producer will still account for 85% of the increase in global oil production to 2030, and for 30% of the increase in gas. The higher U.S. output pushes down the share of OPEC members and Russia in total oil production, which is expected to fall to 47% in 2030 from 55% in the mid-2000s.

    Brent has risen 16% in 2019, supported by a supply-limiting pact by the Organization of the Petroleum Exporting Countries and allies including Russia. The producers meet on Dec. 5-6 to decide whether to extend the deal. Oman, one of the outside producers working with OPEC, said on Nov.11 that the alliance would probably extend the agreement but was unlikely to increase the size of the supply cut.
    We expect bunker prices may demonstrate downward changes today: 1-3 USD down for IFO, 6-8 USD down for MGO.




2021 April 22

16:45 Maersk’s Destination Cargo Management program reduces demurrage and detention exposure by 50%
16:23 Pavel Leonov ferry completed its sea trials on the Ladoga Lake
16:05 Rolls-Royce delivers 16-cylinder version of mtu Series 8000 for the first time
15:41 Bunker Weekly Outlook, Week 16, 2021
15:24 ABS publishes analysis of the greenhouse gas footprint of the leading alternative marine fuels
15:04 Samskip enters into new formal agreement with sustainable cargo initiative GoodShipping
14:48 Icebreaker assistance period ends at the port of Ust-Luga
14:31 Plug and Play launches maritime innovation platform in Antwerp
14:13 ABS Consulting and Verifavia Shipping partner to deliver turnkey IHM solution to maritime industry
13:51 Volgotrans successfully completes e-document flow tests
13:35 Icebreaker assistance period ends at the port of Primorsk
13:12 MPA and SMF step up efforts for maritime workforce transformation
12:34 Rosmorport tests e-Navigation system in the seaport of Sabetta
12:30 DNV awards first merchant vessel SILENT-E notation
12:12 Aker Solutions completes first phase of the Hywind Tampen Construction
11:39 Russian Maritime Register of Shipping takes part in NEFTEGAZ 2021
11:17 Wan Hai Lines to launch independent TVT2 service
10:46 Russian Fishery Company starts supplying surimi to the domestic market
10:20 FESCO refinanced its obligations to VTB
09:33 Oil prices decrease as COVID-19 cases grow in India and Japan
09:11 Baltic Dry Index as of April 21
06:57 The first batch of the next generation of electric boats arrives in New York

2021 April 21

18:44 Russian President suggests providing federal infrastructure loans
18:35 MAN Energy Solutions to partner on world’s largest liquid-air energy-storage (LAES) project
18:05 Port of Dampier sets sail with 10-year roadmap
17:35 Port of Amsterdam postpones the implementation date of the Green Award requirement for river cruise ships for a year
17:33 First Candela C-7 hydrofoil delivered to customers on the US East coast
17:15 Maersk launches rail service between Gurugram and APM Terminals Pipavav Port
16:35 Wärtsilä seeks breakthrough in clean propulsion as part of Finnish consortium
16:15 BIMCO asks the IMO to improve the ballast water record book
15:14 Russian container transport giant RUSCON opens its office in the Netherlands
14:41 Shipping bodies call on world leaders to bring forward discussions on global market-based measures
14:18 Volvo Penta is now taking orders on its full Stage V marine engine range
14:13 DEME wins first floating offshore wind EPCI contract for the Leucate wind farm
13:02 S&P affirmed DeloPorts rating at B+ based on the results of 2020 with stable outlook
12:15 Korean Register launches latest ‘SeaTrust-HullScan’
11:30 MPA inks collaborations with partners to advance decarbonisation efforts
11:07 IAP on Maritime Decarbonisation unveils nine pathways to support decarbonisation in the maritime industry
10:37 European first for UK firm pioneering technology to transform shipping industry
10:27 Europe’s first Maritime value chain project for Liquid Hydrogen is short-listed as Norwegian candidate for IPCEI Hydrogen
09:51 Icebreaker assistance period ends at Passenger Port of St. Petersburg from April 21
09:30 Oil prices decrease amid returning COVID-19 risks
09:12 Baltic Dry Index as of April 20

2021 April 20

18:19 China's Sinopec successfully starts up two Dupont™ STRATCO® alkylation technology units
18:05 MINT Fund grant scheme to provide maritime technology start-ups in Singapore
17:25 MPA launches Singapore’s first Maritime Drone Estate
17:15 SEA-LNG warns against delay in addressing shipping decarbonisation
17:08 Launch of Singapore’s MDE as test bed for drone technologies
16:44 RF President signs law on long-term agreements for providing services involving nuclear-powered icebreakers
16:15 ONE launches Green Strategy Department
15:43 Solstad Offshore signs long-term contract for PSV in UK
15:20 ABS and Rainmaking to support Singapore’s decarbonization entrepreneurs
15:05 Icebreaker assistance period ends at the port of Vysotsk in the Leningrad Region
14:26 Budget allocations for construction of LNG terminal in Kamchatka Territory to exceed RUB 21 billion
14:02 Hiab to supply 37 loader cranes in Spain to maintain railway infrastructure
13:23 Alfa Laval starts testing methanol fuel cell systems for sustainable marine power supply
13:01 Bollinger Shipyards acquires Gulf Island Fabrication’s shipyard facilities
12:57 Icebreaker assistance period ends at Big Port St. Petersburg from April 21
12:30 Port of Helsinki cargo traffic up 3.6% in Q1 2021
12:11 Port of Antwerp expands its fleet with energy-efficient tugs