• 2019 December 2 11:01

    MABUX: Bunker market this morning, Dec 02

    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 November 29:

    380 HSFO: USD/MT – 338.69 (-0.36)
    180 HSFO: USD/MT – 381.77 (-2.22)
    MGO: USD/MT – 668.12 (+1.43)


    Meantime, world oil indexes fell on Nov.29 as Russia sent out mixed signals on its commitment to extend production cuts and U.S.-China tensions.

    Brent for February settlement decreased by $1.44 to $62.43 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for January delivery fell by $3.08 to $55.17 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $7.26 to WTI. Gasoil for December delivery lost $14.25.

    Today morning oil indexes rise as signs of rising manufacturing activity in China pointed to increasing fuel demand and hints that OPEC may deepen output cuts at its meeting this week indicated supply may tighten next year.

    Russian Energy Minister Alexander Novak said on Nov.29 it is too early to talk about extending the OPEC+ crude production agreement and the producer group should take a decision closer to April. His comments are likely to be opposed by most of OPEC’s members, who are aiming to agree at the cartel’s upcoming Dec. 5-6 meeting on the current OPEC+ deal to cut 1.2 million barrels per day. OPEC+ is struggling to prop up prices against weak demand growth, fragile market sentiment and strong gains in non-OPEC supply.

    Data from the Energy Information Administration on Nov.29 showed the U.S. exported 89,000 bpd more than it imported in September, solidifying its status as a net exporter of crude and petroleum products under government records that began in 1949.

    Meanwhile, oil indexes were under the pressure on concerns that talks to end the trade war between the United States and China, the world's two biggest oil users, would be disrupted by U.S. support for protesters in Hong Kong. China reacted furiously on Nov.28 to Trump’s signing of bills in support of the Hong Kong demonstrators, summoning the U.S. ambassador to protest and warning the move would undermine cooperation with Washington. Hong Kong, a former British colony that was granted semi-autonomy when China took control in 1997, has been rocked by six months of sometimes violent pro-democracy demonstrations.

    Today oil prices are supported by factory activity in November in China. The world's biggest oil importer increased factory active for the first time in 7 months because of rising domestic demand amid government stimulus measures.

    Indexes were also supported after Iraq's oil minister said on Dec.1 that OPEC and allied producers will consider deepening their existing oil output cuts by about 400,000 barrels per day (bpd) to 1.6 million bpd. OPEC+, are expected to at least extend existing output cuts to June 2020 when they meet this week. Current quotas for OPEC members only cover crude production, while non-OPEC participants in the deal were allowed to include their condensate production when determining their baseline for cuts. Disputes over definitions of condensate have cause friction between OPEC members in the past.

    Fears about a shortage of diesel and other middle distillates stemming from new marine pollution regulations have receded, with distillate premiums falling to some of the lowest levels for two years. From the start of 2020, ocean-going ships will be required to use low-sulphur fuels or employ exhaust gas cleaning systems, known has scrubbers, under pollution control rules approved by the International Maritime Organization (IMO). Fuel traders and shipowners have warned for several years that the switch from high-sulphur fuel oil (HSFO) to low-sulphur fuel oil (LSFO) or marine gasoil (MGO) could lead to shortages and rising prices.

    Distillate consumption is closely correlated with the economic cycle, so the slowdown in global manufacturing and trade during 2018/19 has taken much of the predicted heat out of the distillate market. If the global economy had been growing strongly at this point, distillate consumption would have been significantly higher and a price spike would have been much more likely. Instead, the trade war between the United States and China and the resulting global slowdown has created more headroom to introduce the new fuel standards without risking a fuel shortage. New pollution regulations are almost always accompanied by warnings about shortages and costs, which often turn out to be exaggerated.

    We expect bunker prices may demonstrate downward changes today: US$ 5-7 down for IFO and US$ 14-17 down for MGO.




2020 August 8

14:31 Sanmars Sirapinar commences operations in Baltic Sea
13:42 USCG accepts newest fast response cutter
12:03 SCHOTTEL propulsion for first-class expedition cruise vessels
11:18 Australia’s new icebreaker on the move

2020 August 7

18:32 Maersk revamps Europe to Middle East & Indian Subcontinent network
18:00 Rosmorport's to beef up its icebreaking fleet to 38 units in 2020
17:00 World’s first zero-emissions top handlers performing well at Port of Los Angeles
16:01 Port of HaminaKotka seven-month volume fell 16.7%
15:09 Launching of Russia’s first LNG-powered passenger ship Chaika held at Zelenodolsk Shipyard
14:21 North Carolina Ports records year-over-year increases in Fiscal Year 2020
14:09 Cargo traffic at Port Kavkaz in January-July rose 9%
13:21 ABP invests in Port of Lowestoft to support UK Southern North Sea energy sector
13:19 Krasnoye Sormovo Shipyard hosts launching ceremony for the RSD59 series MS Pola Marina
12:49 Rosmorport plans expansion of its fleet by 24 newbuilds
12:08 Jan De Nul signs contract with Dogger Bank Wind Farm
11:22 The second tanker manufactured in Azerbaijan launched for the next stage of construction
10:37 MSC’s Golden Horn service links China, Korea & Russia’s east coast
09:59 Ecochlor receives IMO BWMS Code Type Approval
09:51 MABUX: Bunker market this morning, Aug 07
09:16 Baltic Dry Index as of Aug 6
09:12 Crude futures prices turn down again

2020 August 6

19:00 FSL Trust agrees to sell three containerships
18:27 Sumitomo Heavy Industries has been granted an “Approval in Principle” for a medium-size high-pressure LNG dual-fueled tanker
18:21 Port of Rostov-on-Don seven-month volume rises 4% to 12.7 million tonnes
18:07 ICTSI 1H2020 net income down 12% to US$113.4mln
17:26 Royal IHC awarded major contract for supply of FPSO equipment for Yinson
17:25 Vodohod’s newbuild Mustai Karim arrives at Saint Petersburg
16:36 Nevsky Shipyard launches the Pavel Leonov, last ship of PV22 series duo
16:15 North Sea Port, Flemish Waterways plc, Port of Antwerp, Port of Oostende, Port of Zeebrugge, the Agency for Maritime and Coastal Services, and the Joint Nautical Management to introduce SWINg in 2021
15:43 Zelenodolsk Shipyard to host tomorrow launching and keel-laying ceremonies
15:41 Maritime Autonomous Surface Ships Port Network was established in Singapore
14:27 MABUX Bunker Weekly Review
13:54 Tolyattii bound heavylift project cargo successfully handled at Port Bronka
13:27 Alaska Marine Lines rail barges upgrade ballast systems
12:46 Davie confirms polar leadership with icebreaker launch
12:35 Transit container transport by RZD network soars 30% in Jan-Jul
11:40 CMA CGM to launch its ever-faster service connecting Spain with Algeria
11:35 Carnival Cruise Line joins industrywide pause in U.S. through October 31
10:18 Shell signs charter contracts for six newbuild LNG carriers
10:15 Fourth IMO Greenhouse Gas Study: Shipping emissions are projected to increase by up to 50% until 2050, relative to 2018
09:58 The Flemish government, Port of Antwerp and SeReAnt together improve the water quality at the Port of Antwerp
09:26 Baltic Dry Index as of Aug 5
09:21 Crude futures prices resume climb
09:10 MABUX: Bunker market this morning, Aug 06
08:11 NYK starts operation of its first finished-car logistics terminal in Japan

2020 August 5

18:57 Valenciaport triples air quality control cabins
18:16 U.S. Coast Guard suspends search for missing spearfisher off Maui
18:04 Port of Helsinki turnover decreased by 26.7% to EUR 33.4 million in January–June 2020
17:35 A delegation of the Port of Gdansk visits Klaipeda
17:06 Voluntary ship slowdown through Swiftsure Bank begins August 1
16:49 Mississippi River will get deeper
16:39 MOL introduces FOCUS Project Part Ⅲ: Virtual Ship Visit Application 'Fleet Tour'
16:29 Admiralty Shipyards starts building fourth CT-192 series trawler the Kapitan Martynov
15:27 Solstad secures contract from BP for three vessels in Australia
14:38 ABS to class first Taiwan-built offshore installation vessel
13:22 Hurtigruten temporarily suspends all expedition cruises
13:18 Krasnoye Sormovo to launch the MS Pola Marina cargo ship on August 7
13:12 The Vostochnaya Stevedoring Company completes the upgrade of more than 18,000m2 of storage yard
13:08 Concept of a modular composite fishing boat gets the thumbs up from MARINET
12:39 Scorpio Bulkers to build Wind Turbine Installation Vessel (WTIV) at DEME