• 2020 January 7 11:30

    MABUX: Bunker market this morning, Jan 07

    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 upward changes on January 06:

    380 HSFO: USD/MT – 389.01 (+6.16)
    VLS FO: USD/MT – 664.00 (+4.00)
    MGO LS: USD/MT – 718.64 (+4.49)


    Meantime, world oil indexes demonstrated multidirectional changes on Jan. 06

    Brent for March settlement increased by $0.31 to $68.91 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for February rose by $0.22 to $63.27 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $5.64 to WTI. Gasoil for January delivery decreased by $5.50.

    Today morning oil indexes slightly decline sharply despite continuing tension between the U.S. and Iran. The market is recovering and closely monitoring how Tehran will respond.

    Prices pared gains on growing doubts that Iran would strike back in a way that would disrupt oil supplies. Oil jumped more than 3% on Jan.03 after a U.S. air strike in Iraq killed Iranian military commander Qassem Soleimani, heightening concerns about an escalation in conflict in the Middle East and the possible impact on oil supplies.

    The region accounts for nearly half of the world’s oil production, with a fifth of global oil shipments passing through the Strait of Hormuz.

    U.S. President Donald Trump on Jan.05 threatened to impose sanctions on Iraq, the second-largest producer in the Organization of the Petroleum Exporting Countries (OPEC), if U.S. troops were forced to withdraw from the country. Iraq’s parliament earlier called, in a nonbinding resolution, on U.S. and other foreign troops to leave Iraq. Trump also said that the United States would retaliate against Iran if Tehran were to strike back after the killing.

    Shipping companies, including owners and operators of tankers and LNG carriers, are on high alert following escalated tensions in the Middle East, with risks of freight rates rising sharply, higher war insurance premiums and other risk mitigation efforts being implemented.

    The Strait of Hormuz is the world’s most important oil choke point because of the large volumes of oil that flow through it. In 2018, its oil flow averaged 21 million b/d, or the equivalent of about 21% of global petroleum liquids consumption.

    OPEC oil output fell in December as Nigeria and Iraq adhered more closely to pledged reductions and top exporter Saudi Arabia made further cuts ahead of a new production-limiting accord. On average, the 14-member OPEC pumped 29.50 million barrels per day (bpd) last month. That is down 50,000 bpd from November's revised figure. OPEC's largest production drop of 80,000 bpd was in Nigeria, which exported less crude according to ship-tracking data and loading schedules.

    OPEC's two top producers, Saudi Arabia and Iraq, each reduced output by 50,000 bpd. This puts Saudi supply more than 500,000 bpd below its 2019 target. Iraq's compliance, at 59%, is far lower than Saudi Arabia's but is up from 23% in November.

    OPEC, Russia and other allies, known as OPEC+, had an agreement to reduce supply by 1.2 million bpd in 2019. OPEC's share of the cut was about 800,000 bpd, to be made by 11 members, with exemptions for Iran, Libya and Venezuela.
    At meetings in December, OPEC+ agreed to make an additional cut of 500,000 bpd as of Jan. 1, 2020.

    We expect bunker prices will demonstrate irregular changes today: 1-3 USD up for IFO, 3-5 USD down for MGO.




2020 October 20

18:30 APM Terminals expands API offering and terminal coverage
18:17 CMA CGM announces FAK rates from West Med, Adriatic, Black Sea & East Med to the Indian Subcontinent
18:00 Okskaya Shipyard launches second multipurpose dry cargo carrier of Project RSD59 for Astrol
17:36 Equinor signs contract with Skanska for building site preparation and the construction of jetty facilities for the CO2 receiving terminal
17:03 Van Oord becomes the shareholder in Saare Wind Energy
16:38 Wan Hai Lines to launch China – India Service VI (CI6) Service
16:28 Tiksi port expansion is expected as new fields can be discovered in the region
16:03 Jotun offers Superyachts unique lifecycle support with launch of JotunCare
15:44 Rosmorport collects applications for debut bonds in amount of RUB 4 billion
15:30 DCSA publishes standard data definitions to enable just-in-time port calls
15:12 ESPO congratulates Port of Valencia for renewing PERS certification
14:23 Samsung Heavy Industries again chooses Wärtsilä cargo handling system design for new VLEC vessels
13:41 Modernization of port Tiksi to build up throughput to 300,000 tonnes
13:25 Port of Antwerp participates in developing and testing a private 5G network
13:20 Bunker prices are slightly up in the Far East ports of Russia (graph)
13:02 Port Houston container volumes up 1% to 251,524 TEUs in September 2020
12:33 RF Ministry of Economic Development to allocate RUB 2.8 billion for creation of port SEZ in Astrakhan Region
12:19 DNG Energy receives a licence for LNG bunkering in Coega
11:00 KSS Line signs with Hyundai Global Services for smart ship solution powered by Inmarsat and Intellian
10:58 ASW ship Vice-Admiral Kulakov and support vessels of RF Navy’s Northern Fleet enter Greece
10:37 Admiral Makarov frigate of RF Navy’s Black Sea Fleet passes Black Sea straits
10:12 LUKOIL and Rostec sign cooperation agreement
10:02 MABUX: Bunker market this morning, Oct.20
09:49 Shipbuilding Corporation “Ak Bars” to tell about passenger ship Chaika at 4th “LNG Fleet, LNG Bunkering and Alternatives” conference
09:26 Oil prices decrease amid second COVID-19 wave concerns
09:14 Baltic Dry Index as of October 19

2020 October 19

18:11 CMA CGM to launch the East Med - Black Sea Express
18:01 Taganrog coastal station of NAVTEX service obtains certificate of conformity
17:48 BPA to host 5G workshop
17:27 FESCO to supply India's research stations in Antarctica for the third year in a row
17:06 Valenciaport registers the record with 477,194 containers handled in September 2020
16:46 4th “LNG Fleet, LNG Bunkering and Alternatives” conference to be held online on 28 October 2020
16:05 Milaha obtains “ISO 27001” certification for Information Security Management System
15:49 Rosmorport's sailing ship “Mir” to sail around the world in 2022-2023
15:12 Mitsubishi Shipbuilding receives approval in principle for LNG fuel gas supply system from Bureau Veritas
15:04 A.P. Moller - Maersk integrates the European customs services specialist KGH Customs Services
14:35 Harvey Gulf orders Wärtsilä Energy Storage for another four LNG-powered Supply Vessels
14:30 Average spot market price for Russian M100 product rose to RUB 11,894 pmt
14:11 GTT announces the acquisition of Areva H2Gen
13:58 Project on construction of fish terminal “Udarnik” registered as second resident of Arctic Capital PDA
13:17 Ukraine's January-September 2020 coal imports down 15%
13:11 ZIM and Alibaba.com sign strategic cooperation agreement
12:52 Port of Riga sets itself new goal to become region's leader in grain handling
12:33 TransContainer increased container transportation volumes by 15.1% YoY
12:04 Port of Oakland names Acting Communications Director
11:47 Blagoverf shipyard lays down buoy tender of project 3052 for Rechvodput
11:06 EPS collaborates with GoodFuels for marine biofuel bunker trial
10:42 Ocean Yield ASA acquires two suezmax newbuildings with long-term charters
10:40 First sections for ice-resistant platform LSP “A” shipped to outfitting yard
09:58 North Carolina Ports awarded $16 million grant for infrastructure improvements
09:39 MABUX: Bunker market this morning, October 19
09:25 Week beginning is marked by oil prices decrease
09:12 Baltic Dry Index as of October 16

2020 October 18

16:05 Inmarsat and Cobham SATCOM enable Maldives fisheries sustainability with Fleet One
15:58 JAXPORT now offers expanded service to the West Coast of South America through ONE
14:11 Nordic American Tankers says full financing of Suezmax duo is in place
13:14 Bright outlook at Gibdock as bookings remain solid
12:27 Supply contracts signed for main equipment for Squadron 2020 project
11:09 Port of Gdansk inks LoI with Ukrainian Sea Ports Authority

2020 October 17

12:54 CMA CGM announces FAK rates from West Med, Adriatic, Black Sea & East Med to Far East