• 2019 November 18 10:19

    MABUX: Bunker market this morning, Nov 18

    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 15:

    380 HSFO - USD/MT – 334.29 (-3.60)
    180 HSFO - USD/MT – 379.52 (-1.90)
    MGO - USD/MT – 663.07 (-0.14)


    Meantime, world oil indexes rose on Nov.15 as comments from a top U.S. official raised optimism for a U.S.-China trade deal, but worries about increasing crude supplies capped prices.

    Brent for January settlement increased by $1.02 to $63.30 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for December delivery rose by $0.95 to $57.72 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $5.58 to WTI. Gasoil for December delivery gained $6.50.

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

    Optimism that the United States and China may soon sign an agreement to end their trade war helped support prices. U.S. Commerce Secretary Wilbur Ross said in an interview on Fox Business Network that there was a very high probability the United States would reach a final agreement on a phase one trade deal with China.

    As per the International Energy Agency, the Organization of the Petroleum Exporting Countries and its allies face stiffening competition in 2020. The IEA forecast, demand for crude oil from OPEC in 2020 will be 28.9 million bpd, 1 million bpd below the exporter club's current production. It was the IEA's last monthly report before the Dec. 5-6 talks among OPEC states and partners led by Russia on whether to maintain supply curbs aimed at buoying prices and balancing the market. The agency kept its assessments for growth in global oil demand in 2019 and 2020 at 1 million bpd and 1.2 million bpd respectively, but said its outlook might slightly underestimate the impact of tariffs from the U.S.-China trade war.

    As per RF Energy Ministry, Russia will not only keep its position on the global energy markets, but it expects to be able to boost its crude oil exports by up to 500,000 bpd, the equivalent of 25 million tons. Russia’s total crude oil exports in five years could grow to 280 million tons, or 5.62 million barrels per day. Russia exports a large part of its crude oil production, mainly to Europe, although China has emerged as a big buyer of Russian crude in recent years as Beijing’s oil demand continues to grow. China is the biggest buyer of Russian oil outside Europe, while Russia became the largest supplier of crude to China in 2016, surpassing Saudi Arabia for the first time on an annual basis. For two years after 2016, Russia was the single biggest supplier of crude oil to China, but Saudi Arabia has recently regained its number-one supplier status to China. Russia’s plans to boost oil exports puts it, again, in direct competition in the most coveted oil demand market with Saudi Arabia.

    In the United States, production keeps rising, and there was a bigger-than-expected increase in U.S. stockpiles. Production has grown from 11.7 million bpd at the beginning of the year to an all-time high of 12.8 million bpd for week ending November 8, marking the first production increase after five weeks of holding fast at 12.6 million bpd. The production growth represents an increase of more than 1 million bpd from the beginning of the year.

    U.S. crude inventories grew by 2.2 million barrels (as per EIA report last week), exceeding the 1.649 million-barrel rise forecast. The U.S. shale industry plans another spending freeze next year and a sharp slowdown in production growth, as prolific oil and natural gas output has pressured prices and squeezed profits.

    The US oil and gas rig count continued its downward slide last week. For oil rigs specifically, last week marked eleven decreases out of the last thirteen weeks, falling 96 rigs in that timeframe. The total oil and gas rig count now stands at 806, or 276 down from this time last year. The total number of active oil rigs in the United States decreased by 10 reaching 674.

    Venezuela had loaded almost 11 million barrels of crude in just the first 11 days of November, which is more than twice as much as it did in the same period last month. Most of the oil seems to have gone to India and China, with half of the vessels transporting it turning their transponders off to avoid detection. Venezuela’s crude oil production in September averaged just 644,000 bpd, down from 727,000 bpd in August and an average 975,000 bpd over the first half of the year. This shows that sanctions are working to curb oil production, but they have not been able to stifle Venezuela’s exports to zero. The country has oil-for-cash agreements with China and Russia, and although it struggles to repay this debt with its limited amount of oil, it is paying down some of it—apparently without violating any sanctions.

    We expect bunker prices may rise today in a range of plus 4-7 USD.




2020 December 2

12:49 Finnlines announces bunker surcharge for Malmö-Travemünde-Malmö
12:31 Rosmorport released about 2.5 million of juvenile fish in October and November
12:10 GTT entrusted by DSME with the tank design of six ARC7 ice-breaking LNG carriers
11:48 Navigation season finished in Pevek port
11:24 Construction of terminal for exports of oil products from Temruk port obtains state expert approval
11:05 Austal completes acquisition of BSE Maritime Solutions
10:56 Bunker prices rise at the Port of Saint-Petersburg, Russia (graph)
10:37 PETRONAS to deploy low carbon solutuions in line with its Net Zero Carbon Emissions 2050 aspiration
10:24 Tallink suspends operation of Victoria I on two routes from 1 January 2021
10:00 Russian Maritime Register of Shipping issues Guidelines on Cyber Safety
09:42 Oil prices decrease in response to US reserves data
09:25 MABUX: Bunker market this morning, Dec. 2
09:13 Baltic Dry Index as of December 1

2020 December 1

18:51 Kongsberg Digital announces release of first cloud-based simulation service for maritime radar training
18:32 Oil shipments via CPC Marine Terminal in 11M’20 fell by 5.8% YoY
18:16 ABP appoints new Divisional Port Manager for Wales & South West
17:59 Onezhsky Shipyard lays down second serial crab catching ship for Russian Crab Group
17:40 Rosmorport took part in discussion dedicated to Russia’s digital transport and logistics
17:26 Wilhelmsen's Additive Manufacturing service delivered CE-Certified 3D printed lifting tool for Wärtsilä
17:14 Stena Line takes delivery of third new ferry to join Irish Sea fleet in 2020
17:05 Diana Shipping announces time charter contract for m/v Artemis with Glencore
16:43 Bunker prices rise in the Far East ports of Russia (graph)
16:24 Sea Terminal “Tuloma” obtaines status of Arctic Capital PDA resident
16:18 NYK concludes long-term charter agreement for two methanol-fueled chemical tankers
16:05 Samskip ramps up presence in Central Eastern Europe
15:39 Ships of RF Navy’s Black Sea Fleet begin new training year in the Mediterranean
15:07 Georgia Ports Authority reaches a major milestone on its Mason Mega Rail Terminal
14:58 CMA CGM announces FAK rates from North Europe to Canada, Mexico East Coast and USEC, USGULF & USWC
14:52 Zvezda Shipyard lays down yet another Aframax tanker for Sovcomflot
14:13 Small missile ship Ingushetia of RF Navy’s Black Sea Fleet returns from Mediterranean Sea
13:48 Astrol-2, second dry cargo carrier of Project RSD59, put into operation
13:27 Record number of 15 winners for MPA’s International Safety at Sea Awards
13:21 Turbine installation at Belgium’s largest offshore wind farm crosses the finish line
13:06 RS introduces requirements for additive manufacturing products
12:50 ICTSI Iraq delivers record performance
12:32 NOVATEK commenced LNG sales of ISO containers to China
12:30 Finnlines orders Wärtsilä engines and hybrid systems for its two new eco-friendly ferries
12:09 SITC International signs newbuilding contracts with Yangzijiang Shipbuilding
11:51 MOL completes new research and development center in Százhalombatta
11:30 Russian Railways' network loading fell by 3% in 11M’ 2020
11:07 Port of Mackay maintenance dredging set to begin
10:55 Damen supports 4th International Congress “Hydraulic Engineering Structures and Dredging” as its General Sponsor
10:38 MABUX: Bunker market this morning, Dec. 1
10:22 Admiral Gennady Nevelskoy ferry completes its commissioning trials
10:04 Wan Hai Lines to launch China – East India V (CI5) Service
09:46 Minerva Bunkering introduces the Advanced Delivery Platform
09:40 Oil prices continue decreasing
09:23 Baltic Dry Index as of November 30
09:15 Five-year cooperation agreement signed between the ports of Marseille and Montreal
08:34 Traffic dues for Kiel Canal will be suspended until the end of 2021

2020 November 30

18:36 Mina Rashid retains its title as the world’s leading cruise port at the World Travel Awards 2020
18:07 Seagoing vessels will pay a single tariff at North Sea Port from 1 January 2021
17:55 DP World’s Jebel Ali Port joins International Association of Ports and Harbours
17:36 Brittany Ferries’ new ship sets sail online
17:13 IAPH climate and energy working groups meet
16:48 Gasum continues to expand bunkering services
16:40 RWE and DEME Offshore install collars on offshore foundations
16:25 Fair treatment of seafarers and the COVID-19 pandemic on IMO Legal Committee's agenda
16:01 Report on maritime automation legislation commissioned by Finland’s Ministry of Transport and Communications pays attention to ensuring safety
15:37 Rosmorport conducted pilotage and docking of LNG tankers to temporary LNG Offshore Transshipment Complex in Barents Sea