• 2019 November 15 09:39

    MABUX: Bunker market this morning, Nov 15

    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) demonstrated irregular changes on Nov 14:

    380 HSFO - USD/MT 337.89 (-4.26)
    180 HSFO - USD/MT – 381.42 (-4.97)
    MGO - USD/MT – 663.21 (+1.88)


    Meantime, world oil indexes also demonstrated multidirectional changes after the Energy Information Administration reported a crude oil inventory increase for the last week.

    Brent for January settlement decreased by $0.09 to $62.28 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for December delivery fell by $0.35 to $56.77 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $5.51 to WTI. Gasoil for December delivery increased by $5.50.

    Today morning oil indexes rise as OPEC's outlook for oil demand next year added hopes that the producer group and its associates will keep a lid on supply when they meet to discuss policy on output next month.

    The Organization of the Petroleum Exporting Countries (OPEC) said on Thursday it expected demand for its oil to fall in 2020.OPEC on Nov.14 pointed to a smaller surplus in the oil market next year. In a monthly report, OPEC said demand for its crude will average 29.58 million bpd next year, 1.12 million bpd less than in 2019. The drop in demand could press the case for the Organization of the Petroleum Exporting Countries and its allies to maintain supply curbs at a meeting on Dec. 5-6. Still, the report kept its 2020 economic and oil demand growth forecasts steady.

    According to the Energy Information Administration U.S. oil inventories rose by 2.2 million barrels for the week ended Nov. 8, compared with expectations for a build of 1.65 million barrels. Gasoline inventories rose by nearly 1.9 million barrels, versus expectations for a drop of 1.17 million barrels. Distillate stockpiles fell by about 2.5 million barrels, compared with forecasts for a decline of 950,000 barrels. Crude production rose by 200,000 barrels per day (bpd) to a weekly record of 12.8 million bpd, the data showed. The inventory numbers were released a day later due to Monday’s federal holiday for Veterans Day.

    Moreover, U.S. crude oil output will grow more than expected in 2019 and 2020, the U.S. Energy Information Administration forecasted this week. U.S. oil production is expected to rise to 12.29 million barrels per day this year, 30,000 bpd more than the EIA forecast last month. U.S. oil output is expected to rise an additional million bpd to 13.29 million bpd in 2020.

    The agency increased its forecast for U.S. demand for petroleum and other liquid fuels this year to 20.58 million bpd, reflecting an annual demand increase of 80,000 bpd compared with last month’s forecast for 40,000 bpd. Petroleum and liquid fuels demand is expected to rise 170,000 bpd to 20.75 million bpd in 2020, the agency said.

    On a positive note, signs of improving trade relations between the U.S. and China, a potential agreement on Brexit after the UK's general election, and a stabilization of the downward slope in major emerging economies could stabilize growth at the current forecast level.
    OPEC’s Secretary General Mohammad Barkindo, commented, that the outlook in 2020 could surprise to the upside, citing prospects for a resolution of the trade dispute and lower non-OPEC supply.

    Optimism that the United States and China could soon sign an agreement to end their trade war also seeped into the market after White House economic adviser Larry Kudlow said a deal was "getting close", citing what he called very constructive discussions with Beijing.

    We expect bunker prices may demonstrate irregular changes today: US$ 1-3 down for IFO, US$ 3-5 up for MGO.




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
18:06 Lloyd’s Register appointed Commercial Manager for North Europe