• 2019 November 21 09:39

    MABUX: Bunker market this morning, Nov 21

    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 downward changes on Nov 21:

    380 HSFO: USD/MT – 332.73 (-5.56)
    180 HSFO: USD/MT – 377.13 (-5.61)
    MGO: USD/MT – 656.27 (-4.24)

    Meantime, world oil indexes increased on Nov.20 as U.S. stocks raised less, then expected.

    Brent for January settlement increased by $1.49 to $62.40 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for January delivery rose by $1.90 to $57.05 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $5.29 to WTI. Gasoil for December delivery increased by $6.25.

    Today morning oil indexes fell retreating after gaining more than 2% in the previous session.

    The Energy Information Administration reported that U.S. crude stockpiles rose by 1.38 million barrels last week. The market was expecting a build of about 1.54 million barrels

    The main drivers on the market are still uncertainty over the trade talks and what Russia’s and OPEC’s plan concerning the production cut deal.

    U.S. President Donald Trump said on Nov.20 the United States is continuing to talk to China but gave no other details, as both sides tried to hammer out a phase one trade deal ahead of looming U.S. tariffs due next month. Trump last month announced an agreement for an initial trade deal with Beijing but no formal agreement has been released. The pact had initially been expected to be signed by mid-November, but now it is likely to be delayed to the next year as Beijing presses for more extensive tariff rollbacks, and the Trump administration counters with heightened demands of its own.

    Some said Trump wants deeper concessions from China in order to roll back existing tariffs and cancel additional tariffs on some $156 billion in Chinese consumer goods scheduled to take effect Dec. 15. On Nov.19, Trump also threatened to raise tariffs if no deal is reached with Beijing.

    At the same time, the Federal Reserve indicating in its October meeting released that it might be done with rate cuts for this year. That also supported oil indications.

    Russian President Vladimir Putin’s declared that Moscow will support OPEC in whatever way necessary on production cuts when the cartel holds its meeting next month. Russia is part of the OPEC+ alliance, formed with the 14-member Organization of the Petroleum Exporting Countries, which has committed to keeping 1.2 million barrels per day of supply off the market for price support.

    The views of the three big oil forecasting agencies on changes in inventory levels next year have diverged over the past month, as the outlook from two of them becomes slightly more positive for producers. The International Energy Agency (IEA), the U.S. Energy Information Administration (EIA) and the Organization of Petroleum Exporting Countries (OPEC) all still see global oil inventories building in the first half of 2020, if OPEC+ producers continue pumping as they have been, but the EIA and OPEC have both cut the size of the build. They have also become a little more positive for the second half of 2020. All three still see inventories growing over 2020 as a whole, but the build seen by OPEC is now negligible, at just 60,000 bpd, while that seen by the EIA has been trimmed to 300,000 bbl from last month’s 340,000 bbl.

    Russian energy minister Alexander Novak said on Nov.20 he wants new volumes of gas condensate to be excluded from Russia’s quota as part of its oil output pact with OPEC. Novak’s remarks come as Russia’s output of condensate — a potentially high-value petroleum liquid — is expected to grow strongly in coming years as it expands its output of liquefied natural gas from new giant projects in the Arctic Circle. He thinks this should be discussed with OPEC+, since gas condensate is not being exported, we think it shouldn’t be included.

    We expect bunker prices may demonstrate upward changes today: US$ 5-7 up for IFO, US$ 5-7 up for MGO.

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