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  • MABUX: Bunker market this morning, Dec 20
  • 2019 December 20 10:57

    MABUX: Bunker market this morning, Dec 20

    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 rose on December 19:

    380 HSFO: USD/MT – 367.46 (+1.19)
    180 HSFO: USD/MT – 408.51 (+0.87)
    MGO: USD/MT – 691.44 (+3.55)

    Meantime, world oil continued slight upward changes on Dec.19 supported the previous day’s news that U.S. crude inventories declined and as U.S.-China trade tensions continued to ease.

    Brent for February settlement increased by $0.37 to $66.54 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for February rose by $0.25 to $61.18 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $5.36 to WTI. Gasoil for  January delivery added $4.75.

    Today morning oil indexes are stable as the China-U.S. trade talks showed signs of progress.

    Prices were buoyed by China’s Dec. 13 decision to cancel a plan to impose additional tariffs on U.S. imports on Dec. 15 and the Phase 1 deal between Washington and China, which has eased trade tensions. The deal between the world’s two largest economies has improved the global economic outlook, lifting prospects for higher energy demand next year and underpinning oil prices. In a further sign of thawing relations, China’s finance ministry on Dec.19 published a new list of six U.S. products that will be exempt from tariffs starting on Dec. 26. The exemption will be in force for 12 months, ending on December 26, 2020.

    However, if U.S. and Chinese officials will not provide concrete details about their efforts to reach a trade agreement, oil prices could lose their upward movement. The uncertainty around what’s happening on the trade front may start to add more resistance.

    Another reason for oil prices upward changes was the agreement this month between the Organization of the Petroleum Exporting Countries and non-OPEC producers such as Russia to deepen production cuts by a further 500,000 barrels per day (bpd) from Jan. 1 on top of previous reductions of 1.2 million bpd. Both JP Morgan and Goldman Sachs raised their 2020 oil price outlook earlier this week as OPEC led output cuts and an improved global trade outlook led to more optimism.

    Oil indexes also got support from the Energy Information Administration weekly report. Data showed U.S. crude inventories dropped 1.1 million barrels the last week, while gasoline and distillates stockpiles rose. Refiners are back turning out products at full gusto and that’s causing steady buildups in gasoline and distillates, which don’t necessarily have runaway demand at this time of year. It was expected a drop of about 1.3 million barrels.

    News that the U.S. House of Representatives voted to impeach President Donald Trump received some attention today, but had little impact on markets as the decision was largely expected. Trump is the third president to be impeached in U.S. history but is likely to survive a trial in the GOP-led Senate.

    Singapore’s marine gasoil demand is unlikely to receive a significant boost going into 2020 despite its rapidly narrowing price gap to low sulfur fuel oil in the lead-up to the International Maritime Organization’s 0.5% sulfur cap on marine fuels from January. The delivered MGO 0.5%/MF 0.5% spread narrowed to a record low of $1/mt Tuesday, after hovering just above that level for a week since hitting first $1/mt on December 10, Platts data showed. The spread has crunched to average $12/mt to date in December from $38/mt over November, the data showed.

    The LSFO bunker price has indeed exceeded the MGO price in some cases, it really depends on stem size and delivery date. Barging is tight for LSFO now, so the price could easily exceed MGO delivery if it’s for very prompt LSFO delivery. While LSFO is likely to remain the more popular option going into early 2020, availability issues could still divert some demand to MGO, traders said. Fuel quality and compatibility of the 0.5% sulfur marine fuel remain key concerns for market participants in 2020.

    We expect bunker prices will increase today: 1-3 USD up for IFO, 3-5 USD up for MGO.

2022 July 6

18:16 Port of Oakland posts its container volume in May
18:00 Port of Kaliningrad expected to see a 25-pct decrease of throughput to 8 million tonnes in 2022
17:39 Gascade and Fluxys team up on two key infrastructure projects to ramp up the hydrogen economy in Germany
17:12 Strengthening port security in Tunisia
17:06 PIL announces contract to build four 8,000 TEU LNG dual-fuel container vessels
16:43 Cargo traffic within Azov-Don Basin of Russia’s IWW in H1’2022 totaled 1.4 million tonnes, down 57% YoY
16:21 MSC and Fincantieri announce the construction of two next generation cruise ships
16:07 TotalEnergies quits Russia's Kharyaga oil project - Reuters
15:57 Russia’s State Duma approves Draft Law on countersanction information
15:15 India, Iran to activate new shorter corridor to Russia - The Tribune
14:55 CPC-R requests to suspend execution of the judge's Ruling on administrative suspension of company's activities
14:32 Svitzer announces the purchase of a new tug to support terminal operations in Milford Haven, UK
14:18 Tallink Grupp reports 174.3% increase of passenger transportation in June 2022
14:02 ClassNK releases “ClassNK Technical Journal”
13:34 TechnipFMC awarded iFEED contract by Equinor for BM-C-33 project in Brazil
13:06 Nordic Engineering to speak at Ship Repair, Modernization and Components Conference about modernization of research vessels
12:01 Concordia Maritime sells the P-MAX vessel Stena Paris
11:39 MV Kholmogory to deliver first batch of cement to Kaliningrad
11:34 Germany prepares Uniper bailout - Handelsblatt
11:12 OPEC secretary-general is dead, Nigerian officials announce - AP
11:03 CMA CGM to implement Bunker Recovery Adjustment Factor to all West African ports
10:51 Krasnoye Sormovo shipyard delivers dry cargo carrier of Project RSD59 Sergey Volkov to GTLK
10:27 ECOWAS lifts sanctions against Mali
10:10 Novorossiysk Court orders Caspian Pipeline Consortium to suspend its activities for 30 days
09:55 TT Club highlights long-term changes to supply chain risk profiles
09:22 Throughput of port Kavkaz in H1’2022 fell by 26% Y-o-Y
09:08 MABUX: Global bunker prices to decline sharply on Jul 06
08:44 Turkey to try to reach outcome on grain corridor with Russia, Ukraine soon - Daily Sabah
08:13 The EU isn’t yet equipped to receive enough LNG to replace Russian gas entirely - Bloomberg

2022 July 5

19:44 Termination of oil and gas supplies to Japan from Russia is possible – Deputy Chairman of the Security Council of the RF
18:23 Norled accepts delivery of second newbuild zero-emission battery-powered Ropax Ferry from Sembcorp Marine
17:56 BAM and Transsib failed to deliver 70 million tonnes of cargo in 2021 - Yury Trutnev
17:31 DNV recognizes Arcadia Shipmanagement’s Aegean Myth as the first verified SEEMP III vessel
17:11 Wartsila supplies battery to Pivot Power as part of cutting-edge Energy Superhub Oxford project
16:53 Lotos Shipyard launches first self-propelled dredger of Project 93.159
16:24 Russia may ramp up its gas supplies to Asian markets to a level close to its exports to EU in a decade - IEA
16:17 Siemens Gamesa secures deal to supply 75 MW for South Korea’s third largest wind farm
15:33 DeloPorts completed full repayment of bond issue for RUB 3.5 billion
15:11 TAQA, Heerema, and AF Offshore Decom completed decommissioning project in Brae Field
15:04 ABP launches 1m sq ft development site at Port of Grimsby
14:52 Edda Wind appoints new COO
14:21 APM Terminals takes the next step on its strategic journey
14:05 Bunker sales at Vladivostok port in H1’2022 fell by 25% YoY
13:46 Throughput of Azov port in H1’2022 fell by 18% YoY
13:28 Strike affecting Equinor-operated fields on the Norwegian continental shelf
13:19 Ulstein's trawler design for Bluewild is one of three nominees for innovation award
12:41 New quayside unveiled at Port of Nigg
12:17 DEME announcement of the Member State of origin
11:51 Vladimir Potanin: we are ready to discuss merger of Nornickel and Rusal
11:29 MPCC placed orders for two carbon-neutral 1,300 TEU newbuildings
10:56 RZD Logistics launches new railway container service on eastern branch of North-South ITC
10:18 HHLA and Eurogate make joint declaration on cooperation talks
09:57 Russian Maritime Register of Shipping supports Ship Repair, Modernization and Components Conference
09:35 Russia’s internal container traffic in H1’2022 rose by 5.1% YoY
09:14 MABUX: Upward changes to continue on Global bunker on Jul 05

2022 July 4

18:22 Vestas pioneers world’s first hydrogen-powered offshore service vessel
17:59 Plans on modernization of BAM and Transsib are outdated - Yury Trutnev
17:53 MARIN to have new defense department with Pepijn de Jong as manager
17:28 World's largest civilian hospital ship in port in Senegal
16:47 Programme on development of diesel engines manufacture to cover domestic demand in full - Mikhail Mishustin