• 2019 November 14 10:16

    MABUX: Bunker market this morning, Nov 14

    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.13:

    380 HSFO - USD/MT – 342.15 (-2.93)
    180 HSFO - USD/MT – 386.39 (-1.00)
    MGO - USD/MT – 661.33 (-1.57)


    Meantime, world oil indexes turned into moderate upward movement on Nov.13 after OPEC said it saw no signs of global recession and rival U.S. shale oil production could grow by much less than expected in 2020.

    Brent for January settlement increased by $0.31 to $62.37 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for December delivery rose by $0.32 to $57.12 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $5.25 to WTI. Gasoil for November delivery gained $0.25.

    Today morning oil indexes continue slight upward trend.

    The Secretary General of the Organization of the Petroleum Exporting Countries, Mohammad Barkindo, said global economic fundamentals remained strong and that he was still confident the United States and China would reach a trade deal. He also said some U.S. companies were now saying U.S. oil production would grow by just 0.3-0.4 million barrels per day next year - or less than half of previous expectations - reducing the risk of an oil glut next year.

    U.S. President Donald Trump said on Nov.13 that the U.S. and China were close to finalizing a trade deal, but he fell short of providing a date or venue for the signing ceremony.

    As per the IEA report, until about 2025 global oil demand will expand by about 1 percent annually, exceeding 100 million bpd and reaching 105.4 million bpd. After that growth will shrink substantially and demand will reach a plateau at less than 110 million bpd—106.4 million bpd. Also, according to IEA, natural depletion will shrink oil supply and lead to an increase in prices. These, the agency said, could average $90 a barrel in 2030 and $103 a barrel in 2040. Agency also said that 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.

    France, Germany, Britain, Russia, China, Iran as well as the US discussed a new framework at the UN General Assembly in late September. The proposed new deal would have Iran permanently abjuring nuclear weapons, conforming to a long-term framework of peaceful nuclear technology, and contributing to regional stability and noninterference in return for the US lifting sanctions. Restricting the Islamic Republic’s ballistic missiles was set aside for future discussion. There is no any visible reaction from Iran so far.  

    In the United States, crude oil inventories were forecast to have risen for a third straight week last week, while refined products inventories likely declined. The forecast expects that crude inventories rose by around 1.6 million barrels in the week to Nov. 8.

    The Power of Siberia gas pipeline that will bring Russian natural gas to China, and will start operations in December. The Power of Siberia, one of the largest natural gas pipeline projects in the world, will transport natural gas from the Irkutsk and Yakutia production centers to consumers in Russia’s Far East and to China. Gazprom is dominating gas supplies to many European markets, while it also vies to meet rising Chinese natural gas demand as the country is in the middle of a massive switch from coal-fired to gas-fired heating in millions of homes. Gazprom expects its market share in China to grow from zero to more than 25 percent of Chinese gas imports and to account for 13 percent of China’s gas consumption by 2035. By that year, Gazprom vies to be the number one gas supplier to both Europe and China.

    The American Petroleum Institute (API) has estimated a crude oil inventory draw of 500,000 barrels for the week ending November 7, compared to analyst expectations of a 1.649-million-barrel build. Last week saw a build in crude oil inventories of 4.26 million barrels, according to API data. The EIA’s estimates, however, reported a build of 7.9-million barrels for that week. US crude oil production as estimated by the Energy Information Administration showed that production for the week ending November 1 stayed at the all-time high of 12.6 million bpd for the fifth week in a row.

    We expect bunker prices may rise today in a range of plus 1-4 USD.




2021 January 22

10:02 MABUX: Bunker market this morning, Jan 22, 2021
09:48 Bunker market sees mixed price movements at the Port of Saint-Petersburg, Russia (graph)
09:30 Crude oil prices decrease amid aggravation of the epidemiological situation
09:12 Baltic Dry Index as of January 21

2021 January 21

18:07 Port of Houston awarded new start for Ship Channel
17:50 Throughput of port Vyborg in 2020 fell by 46% Y-o-Y
17:27 Rolls-Royce secures research contract with US Navy to develop innovative debris detection technology
17:03 Galeon Yachts announce new outbourd model
16:42 Throughput of port Vysotsk in 2020 fell by 4% Y-o-Y
16:32 Jan De Nul Group is the first dredging company to carry out 100% sustainable beach replenishments in Belgium
16:23 Yaskawa Environmental Energy develops a permanent magnet propulsion system for superyachts
16:09 MABUX Bunker Weekly Outlook, as of Jan 21, 2021
16:00 Throughput of port Primorsk in 2020 fell by 19% Y-o-Y
15:36 Bunker market see mixed price movements in the Far East ports of Russia (graph)
15:13 Battle stations for boat-handling systems
14:58 Port of Ust-Luga throughput in 2020 declined by 1% Y-o-Y
14:43 MasterCraft Boat Company launches digital boat show experience to connect with consumers amidst dynamic boat show season
14:22 ABS grants AIP for DSME’s Solid Oxide Fuel Cell technology
14:05 20% global e-commerce growth fast tracks supply chain tech adoption from 5 year plans into 2021 action
13:43 Sovcomflot and Total sign time charter agreement for up to 7 years for a newbuilding 174,000-cbm LNG carrier
13:21 TFG Marine to start bunkering operations from Falmouth in the United Kingdom
13:11 Ocean carriers battle the Covid cargo crunch
12:52 Throughput of Port St. Petersburg in 2020 remained flat, year-on-year
12:36 UECC opening doors to a sustainable future
12:08 Crowley awarded fuel distribution contract for Arctic North Warning System
12:03 FESCO transported first containers with grain from Khabarovsk to China
11:41 Wilhelmsen Ship Management becomes a member of the Sustainable Shipping Initiative
11:24 Russian Crab Company Group reports annual operational results for 2020
11:05 MABUX: Bunker market this morning, Jan 21, 2021
10:36 MSC earns maritime sustainability certificate
10:20 Maritime UK welcomes Associated British Ports to the Diversity in Maritime Charter programme
10:05 New container service connecting Port of Immingham with Bilbao
09:37 Crude oil prices decrease as US resources grow
09:19 Baltic Dry Index as of January 20
09:01 Maersk Tankers sees 28% pool expansion in 2020
08:58 ICTSI Manila completes berth expansion

2021 January 20

18:54 Galeon Yachts announce new outboard model
18:15 CMA CGM announces FAK rates from Red Sea to North Europe & the Mediterranean
17:46 Håkan Agnevall assumes the position of CEO of Wärtsilä on 1 February 2021
17:16 SMM DIGITAL to stream conference programme online free of charge
17:01 GTNS supports 4th International Congress “Hydraulic Engineering Structures and Dredging” as its Sponsor
16:42 U.S. blacklists oil tankers for undermining Venezuela sanctions
16:00 Krasnoye Sormovo shipyard launches dry cargo carrier Victor Andryukhin
15:24 Port Houston presents 2040 Plan
15:07 RF Navy’s patrol boat "Yaroslav Mudry" conducts exercises in the sea ranges of the Baltic Fleet
14:45 Amendments to increase safety proposed to Finland's Water Traffic Act
14:26 Polaris sets off for the Bay of Bothnia as the season’s third icebreaker
14:02 First vessel certified with Responsible Fishing Vessel Standard by LR
13:41 SMM DIGITAL: Leading international maritime trade fair to stream conference programme online free of charge
13:23 Port of Los Angeles to reward container terminals for higher truck productivity
13:02 Dublin Port throughput increases by +7.6% in Fourth Quarter of 2020
12:35 Seaports of Okhotsk Sea and Tatar Strait increased their throughput by 4.4% YoY
12:21 Port of Zeebrugge container volume up 10.3 percent in 2020
12:10 CMA CGM announces PSS for cargo from India to North Europe & the Mediterranean
11:43 Rosmorport’s icebreakers completed over 2,400 pilotage operations in freezing seaports of Russia this season
11:18 Global Ports’ consolidated marine container throughput for the full year 2020 increased by 6.6%
10:54 Damen signs with Svitzer for ASD Tug 3212
10:54 Capacity of Russian seaports in 2021 to be increased by 50 million tons
10:30 MABUX: Bunker market this morning, Jan 20, 2021
10:12 Cryogas-Vysotsk reaches LNG milestone of one million tons