• 2020 January 2 11:57

    MABUX: Bunker market this morning, Jan 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 insignificant changes in the end of  2019:

    380 HSFO: USD/MT – 378.01 (-0.19)
    VLSFO: USD/MT – 655.00 (0.00)
    MGO: USD/MT – 713.01 (+0.94)


    On January 1, 2020, emission limits came into force (IMO 2020). The situation in various regions of the world remains not entirely clear in terms of the availability of new 0.5% fuels, as well as in terms of prices for new fuel. In some ports there is a situation that the price of VLSFO is higher than traditional MGO. This situation may last for the next few weeks (months?) until the market comes to a balanced state.

    Meantime, world oil indexes dropped on Dec.31, but notched the biggest annual gain in three years, supported by a thaw in the prolonged U.S.-China trade war and ongoing supply cuts from major oil producers.

    Brent for March settlement dropped by $2.44 to $66.00 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for February decreased by $0.62 to $61.06 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $4.94 to WTI. Gasoil for January delivery lost $9.00.

    Today morning global oil indexes demonstrate slight upward trend.

    Brent gained about 23% in 2019 and WTI rose 34%, their biggest yearly gains in three years, backed by the recent breakthrough in the trade talks and output cuts pledged by the Organization of the Petroleum Exporting Countries (OPEC) and its allies. Forecasters do not expect oil prices to move sharply in either direction next year. Brent crude is expected to hover around $63 a barrel, down modestly from current levels, as OPEC production cuts offset weaker demand.

    U.S. President Donald Trump said the Phase 1 trade deal with China would be signed on Jan. 15 at the White House. Signs of progress on the deal had boosted China’s factory output and manufacturing activity in the country expanded for a second straight month.

    The Iranian Offshore Oil Company (IOOC) is currently implementing US$2.6 billion worth of projects expected to boost Iran’s offshore oil production by 85,000 barrels per day (bpd). The Iranian state-held offshore oil firm has awarded various projects to Iranian service contractors. The contracts include work on drilling, completion, and repair of 40 wells, as well as the construction and installation of wellhead equipment and five offshore platforms. Work is being done to boost oil production at the Siri field in the Persian Gulf under a contract with an Iranian company. Iran continues to export oil, especially to China, but it has drastically increased the secrecy of how it ships that oil abroad and says that it is using every means possible to export its crude.

    China issued the first batch of oil product export quotas for 2020 and they are 53 percent higher than this year’s. At 28 million tons, the oil product export quotas will likely deepen an already serious glut of oil products on Asian markets that have eaten into refiner’s bottom lines. The quotas were issued to five state oil companies. It will be up to each of the companies to decide which fuels make what portion of their total quota, unlike in previous years. There has been mounting concern among refiners in other Asian countries during most of this year that surplus fuel production in China would spill into neighboring countries, undermining the profit margins of local refiners.

    Gazprom and Ukraine’s Naftogaz finally reached a deal on the transit of Russian natural gas through Ukraine to Europe. There was concern in Europe that the two may fail to reach an agreement that would affect Russian gas deliveries to Europe given the tense political relations—and legal disputes—between the neighbors but, once again, pragmatism seems to have prevailed. The good news for Ukraine, for whom gas transit fees are vitally important, is that the agreement includes stipulations about guaranteed volumes of gas that Gazprom will send across Ukraine. These are 65 billion cubic meters for 2020, falling to 40 billion cubic meters for the period between 2021 and 2024. Gazprom has a 36-percent share of the European natural gas market, with European exports outside the former Soviet Union averaging 200 billion cubic meters. Of this, 86.8 billion cubic meters were transited through Ukraine last year.

    Late Tuesday, the American Petroleum Institute (API) reported crude oil supplies fell by 7.8 million barrels for the week-ended December 27, to 436 million barrels.  Traders were looking for a draw of 3.2 million barrels. Crude stocks at the Cushing, Oklahoma, futures delivery hub fell by 1.4 million barrels, and refinery crude runs rose by 74,000 barrels per day, the API data showed. U.S. crude imports fell last week by 447,000 barrels per day to 5.97 million bpd.

    We expect bunker prices may start the year with a downward trend in a range of minus 3-9 USD.




2021 January 26

12:27 Wärtsilä participates in EU-funded project to decarbonise long-distance shipping
11:32 USCG rescued 3 people off sinking crab fishing boat in Humboldt Bay
11:05 Contecon Guayaquil handles first carbon-neutral container shipment in the world
10:55 MOL's newbuilt LNG carrier "LNG Rosenrot" goes into service for Uniper
10:21 World’s first 100,000-ton deepwater semi-submersible production and storage platform built to ABS Class
10:11 MABUX: Bunker market this morning, Jan 26, 2021
09:29 Crude oil prices continue decreasing
09:12 Baltic Dry Index as of January 25

2021 January 25

18:06 Valenciaport leads Spain in natural gas supply operations
17:56 Russian Fishery Company develops new markets
17:28 Vanino coast stations of sea areas A1 and A2 GMDSS successfully passed regular survey
17:05 DNV GL awards AIP to KSOE for wing sail propulsion system
16:05 Wärtsilä signs a five year extension to its Optimised Maintenance agreement with Golar
15:59 Port of Ventspils increased handling of wood products
15:04 ABS awards industry’s first AIP for deep-sea mining vessel to CMI
14:27 Average spot market price for Russian M100 product climbed to RUB 18,710 pmt
14:02 Konecranes and Calata Bettolo container terminal in Genoa join forces on complete container handling solution
13:55 90% of ships cleared by Baltic Customs in 2020 went through commission-free procedure
13:02 Port of Rotterdam Authority launches smart bollard trial at ECT
12:13 Chinese ports container throughput increases by 1.2% to 264.3 million TEU in 2020
11:38 Calls at ports of Sakhalin, Kurils and Kamchatka in 2020 grew by 4.4%
11:04 Panama Canal signs MoUs with Panama Ports Company and PSA Panama International Terminal to optimize supply routes for COVID-19 vaccine distribution
10:47 MABUX: Bunker market this morning, Jan 25, 2021
10:12 Throughput of Chinese sea and river ports in 2020 climbed by 4.3% YoY
10:10 The LNG-powered CMA CGM JACQUES SAADE makes her first call at Le Havre
09:51 Rosmorport appoints Aleksandr Smirnov as Acting General Director
09:30 Crude oil prices start this week with a decrease
09:16 Baltic Dry Index as of January 22

2021 January 24

16:37 Boluda Towage acquires Dutch Towage & Salvage Company Iskes
15:13 MARAD announces notice of funding opportunity for America's small shipyard grant program
14:39 Greensea receives US NAVY award to advance Standoff Command and Control
14:18 USCG assists 7 people after boat collision near Fort Pierce
13:42 Contract awards within Renewable Energy and Subsea
12:32 RightShip and INTERCARGO announce important new quality standard for dry bulk sector to be governed by new NGO
11:26 V.Group announces new appointment
10:56 Siem Car Carriers' fleet continues to grow with Super-Eco, LNG powered PCTC vessels

2021 January 23

16:31 DNV GL awards AIP to KSOE for wing sail propulsion system
15:23 Boomsma Shipping installs and sails off with two eConowind Flatrack VentiFoils
14:51 HHLA acquires majority share of automation specialist iSAM AG
13:18 MPA announces 30-day suspension for pleasure craft, ADVANT, for large social gathering on board
12:42 Puerto Aguadulce hits 1 million TEU milestone
11:36 Diana Shipping announces time charter contract for M/V Calipso with Viterra
10:53 Bahri Ship Management receives ISO 45001 certification for occupational health and safety

2021 January 22

18:00 Rosmorport's icebreaker Mudyug starts providing icebreaking assistance in the Baltic Sea
17:36 Andrey Lavrishchev appointed as head of Federal Marine and River Transport Agency
17:13 Aleksandr Poshivay appointed as Deputy Minister of Transport of the Russian Federation
16:34 Rosmorport starts providing geodesic and hydrographic services in the water area of Petropavlovsk-Kamchatsky seaport
16:05 APM Terminals Gothenburg offers certified climate impact calculations to customers
15:49 Sredne-Nevsky Shipyard commences outfitting of yet another minesweeper of Project 12700, Pyotr Ilyichov
15:21 Norsepower installs first tiltable Rotor Sails on Sea-Cargo Ro-Ro
14:58 Container terminal in Świnoujście is in line with sustainable development vision
14:32 Cargo turnover of NCSP Group in 11M’2020 totaled 101.4 million tons, down 21.2% YoY
14:07 Petersburg Oil Terminal in 2020 increased shipments of oil products by 16.6%
14:03 Jan De Nul adds two new vessels to its fleet
13:45 DHT Holdings announces acquisition of two VLCCs
13:29 Iridium partner MetOcean Telematics provides SaR buoys to the USCG
12:52 Havyard develops hydrogen zero-emission vessels in new segment
12:11 THE Alliance announces Transatlantic Service Network adjustments for 2021
11:30 Rosmorport successfully completed formation of Ultramar terminal’s water area
11:06 Training ships Nadezhda and Professor Khlyustin welcome first cadets of 2021 season