• 2019 December 23 10:11

    MABUX: Bunker market this morning, Dec 23

    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) showed slight upward trend on December 20:

    380 HSFO: USD/MT – 368.92 (+1.46)
    180 HSFO: USD/MT – 408.82 (+0.31)
    MGO: USD/MT – 692.96 (+1.52)

    Meantime, world oil indexes fell on Dec.20, but prices were set for a third straight weekly gain amid the easing of U.S.-Chinese trade tensions.

    Brent for February settlement decreased by $0.40 to $66.14 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for February lost $0.74 to $60.44 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $5.70 to WTI. Gasoil for January delivery declined by $1.00.

    Today morning global oil indexes are sliding down.

    Progress in a long-running trade dispute between the United States and China, the world's two biggest oil consumers, has boosted expectations for higher energy demand next year. China last week announced a list of import tariff exemptions for six oil and chemical products from the United States, days after the world's two largest economies announced an interim trade deal.

    Libya’s General Haftar is closing in on Tripoli, which in turn is prompting a sudden uptick in Turkish activity on behalf of the Tripoli-based government. The UN-backed Government of National Accord (GNA) is probably fighting a losing battle because the only foreign friend willing to come to its aid militarily is Turkey, while a lineup of external forces (Egypt, UAE, Russia and in a less tangible way, France) are aiding Haftar, who controls the oil, even if he does not control the oil revenues. All the indications are there for a new phase in the conflict, supporting fuel indexes.

    PetroChina, one of the largest buyers of liquefied natural gas (LNG) in the key LNG demand growth market, has offered the lowest bid in an LNG tender in Pakistan, in a sign that the Asian market continues to be oversupplied even after the winter heating season began. It’s not certain if Pakistan will award this tender, because it sometimes chooses not to buy. Still, prices were at their lowest for this time of the year, because of ample LNG supply and tepid demand growth with milder weather earlier in the heating season (Asian LNG spot prices for delivery in January were at US $5.65 per million British thermal units (MMBtu) last week). Last month, a Singaporean buyer of a U.S. cargo of LNG cancelled the loading, as both Asia and Europe are facing an LNG glut. Some other customers of U.S. LNG cargoes are also reportedly considering paying for those cargoes but not loading them.

    While IMO 2020 is one week from taking effect, countries home to around 15% of the world’s oil-refining capacity have so far failed to sign up to the pact that’s designed to slash emissions of the pollutant starting in January. And even among the nations that back the rules, some important ones have said they are not going to start with an aggressive implementation. South Africa, the point connecting the east and western hemispheres, doesn’t have the domestic laws in place to enforce the rules. The United Arab Emirates, one of the world biggest vessel-refuelling centers, intends to avoid a draconian start to enforcement. Meantime, Denmark said it will be devastating if not everyone complies. For its part, the IMO says that any country that ratified the rules made a commitment to implement them from Jan. 1.

    Several shipping associations representing the global maritime shipping industry have proposed creating a $5 billion research fund to help the industry develop technologies to slash emissions. The fund would be setup via a $2 per ton fee on fuel used by ships. The shipping industry accounts for 2.2 percent of total global CO2 emissions, and the IMO wants the industry to cut emissions by 50 percent by 2050. The fund, if it receives the backing of IMO member states, could be in place by 2023. The IMO said the proposal would be discussed by the organization’s Marine Environment Protection Committee at its next meeting at the end of March.

    The Environmental Defense Fund (EDF) has called on the shipping industry to see the IMO 2020 sulphur cap as an ‘opportunity’ to ‘get ahead on the path to decarbonisation by advancing clean and safe zero-emissions fuels’ – and urged it not to ‘deviate from this path’ by ‘chasing devices or HSFO alternatives that do more environmental harm than good’. As per EDF, the industry should not be distracted by scrubbers or LNG but instead ‘identify and implement solutions that are climate friendly from production to use, such as green ammonia or hydrogen’. The EDF also questioned the strategy of using LNG as a ‘transition fuel’.

    A rise in the U.S. oil rig count, an indicator of future supply from the world’s largest producer, also put pressure on prices. U.S. energy firms added the most oil rigs last week since February 2018, even though producers have been reducing spending on new drilling. Companies added 18 oil rigs in the week to Dec. 20, bringing the total count to 685, the most since early November.

    We expect bunker prices may decrease today slightly in a range of minus 1-3 USD.

2020 June 3

18:25 Russia's Main Department of State Expertise approves construction of operational water area under Obskiy LNG project
18:03 Cargotec’s Kalmar and MacGregor to help drive development of connected automated waterborne transport through participation in AEGIS project
17:46 Rosmorport announced tender to reconstruct coastal facilities of Vanino-Kholmsk ferry service
17:24 RF Government approved allocation of RUB 60.5 billion for Russian Railways’ BAM and Transsib projects in 2020
17:02 THE Alliance announces COVID-19 response measures for July, August and September 2020
16:35 Russian Railways CEO says railway link with Murmansk to be restored by June 23
16:11 Transport route to link Quy Nhon Port with Northeast Asia
15:49 Rosatomflot completed escorting Vladimir Voronin gas carrier along the Northern Sea Route
15:33 Fincantieri and ENI extend an agreement in the field of circular economy and decarbonisation
15:01 Austal announces CEO transition
14:33 HHLA handles world’s largest container ship at Burchardkai
14:11 Key players develop emission-free navigation solution for barges
13:32 The CMA CGM Group heads towards carbon neutrality by 2050
13:26 Bunker sales at Vladivostok port in 5M’2020 fell by 27% YoY
13:01 APM Terminals Mobile gains another distribution center
12:31 CMA CGM announces GRR from Asia to East Africa
12:01 Savannah harbor deepening sets precedent with four dredges working simultaneously
11:30 Abu Dhabi Ports launches “SAFEEN FEEDERS” shipping service in response to growing regional and global trade
11:00 EIZO secures LR type approval for maritime monitors via remote survey
10:30 Cargotec completes the ownership change of joint venture in China
10:09 Associations call for accelerating digitalisation of maritime trade and logistics
10:03 Brent Crude Oil price exceeded $40
09:46 DNV GL launches new certification in infection prevention for the maritime industry
09:41 Bunker market sees mixed price movements at the port of Saint-Petersburg, Russia
09:16 Baltic Dry Index on June 2
08:45 MABUX: Bunker market this morning, June 03

2020 June 2

18:24 Consortium of Boskalis, Bouygues and Saipem selected for Fecamp Offshore Wind Farm foundations
18:07 Alfaport-Voka, Antwerp Port Authority and Maatschappij Linkerscheldeoever agree to extend payment period for concessions
17:39 About forty ships, boats and vessels of RF Navy's Black Sea Fleet went to sea for training
17:34 Stena Line is now ten years ahead of the international shipping targets for reducing emissions
17:17 Nuclear-powered container carrier Sevmorput returned to Murmansk, its port of registration
16:51 The world's second largest container ship begins operating in the Port of Barcelona
16:15 Rosmorport announced successful bidder for adjustment of Pionersky terminal project
15:36 Associations call for accelerating digitalisation of maritime trade and logistics
14:51 POT celebrates its 25th anniversary on 16 June 2020
14:28 Nakhodka Ship Repair Yard lays down a series of eight crab catching ships
14:02 Ole Martin Grimsrud to leave his position as CFO of Aker Solutions
13:53 Effects of coronavirus epidemic prevention regulations on Finnlines Passenger traffic
13:35 WMU joins On Shore Power Supply in the Nordic Region project
13:02 DCSA establishes IoT standards for container connectivity
12:48 Bunker market sees mixed price movements at the Far East ports of Russia (graph)
12:26 Qatar Petroleum signs the largest LNG shipbuilding agreements in history to secure more than 100 ships valued in excess of QR 70 billion to cater for its LNG growth plans
12:00 Diana Shipping announces direct continuation of time charter contract for m/v Phaidra with Uniper
11:47 Research vessel of RF Navy's Baltic Fleet completed round-the-world route
11:22 Financial and operating results of FESCO Transportation Group for 2019
11:03 Ocean Network Express to extend the suspension of China-Australia service
10:29 “Zigh” Ship Repair and Construction Yard completes high-quality overhaul of “Nakhchivan” ferry vessel
09:58 Oil prices rise within $1
09:40 RS specifies requirements to roadster and harbor craft
09:23 MABUX: Bunker market this morning, June 02
09:12 Baltic Dry Index on June 1

2020 June 1

18:37 KIZAD breaks ground on largest rest, refuelling facility in region
18:21 Christophe de Margerie completes eastbound transit of NSR two months earlier than usual
18:13 Tallink Grupp to reroute its vessel Isabelle to operate on the Paldiski-Kapellskär route from 7 June 2020
18:07 ZIM starts eCommerce Xpress
17:52 Tallink to provide weekly sailings to Mariehamn in June and July 2020
17:29 Tallink adds more departures and additional vessel to Tallinn-Helsinki route
17:05 CMA CGM has announced FAK rates from North Europe to Mexico East Coast, USEC and USGULF & USWC
16:48 Throughput of port Azov in 5M’2020 fell by 9% YoY
16:30 Speakers announced for webinar “River fleet of the USA and Europe. What is useful for us or how do they make profit?”