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  • MABUX: Bunker market this morning, Jan 08
  • 2020 January 8 10:13

    MABUX: Bunker market this morning, Jan 08

    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) changed irregular on Jan.07:

    380 HSFO - USD/MT - 389.96(+0.95)
    VLSFO - USD/MT – 666.00(+2.00)
    MGO - USD/MT – 715.37(-3.27)


    Meantime, world oil indexes fell on Jan.07 as market reconsidered the likelihood of Middle East supply disruptions in the wake of the United States killing a top Iranian military commander.

    Brent for March settlement declined by $0.64 to $68.27 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for February fell by $0.57 to $62.70 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $5.57 to WTI. Gasoil for January delivery lost$3.25.

    Today morning global oil indexes continue firm upward trend after Iran attacked two U.S.-Iraqi airbases.

    Iran attacked two U.S.-Iraqi airbases in response to a U.S. airstrike that killed a top Iranian general last week, sparking worries of intensifying conflict in the Middle East. Overnight, the Pentagon said missile strikes were launched from Iran and targeted the Ayn al-Asad base in western Iraq and another facility in Erbil.

    The unexpected assassination of one of the most important figures in the Iranian government set off fears of a hot war between the U.S. and Iran. Trump has vowed more attacks, including potential war crimes, if Iran does anything in response to the killing. Iran has withdrawn completely from the 2015 nuclear deal. Iraq has begun laying the groundwork to force U.S. troops to exit the country. Trump has threatened Iraq with harsh sanctions if they follow through. There are some speculations that Iran could target oil installations. The U.S. State Department warned of a “heightened risk of missile/drone attacks” in Saudi Arabia. The shipping industry is warning of more risk to oil tankers in the Persian Gulf.

    The British Royal Navy will escort UK-flagged vessels going through the world’s most vital oil choke point, the Strait of Hormuz, amid a sudden spike in tensions in the Middle East. The HMS Montrose and the HMS Defender will be deployed in the region again, after last year they escorted UK-flagged ships through the Strait of Hormuz following the seizing of an Iranian oil tanker by Gibraltar with the help of the UK that angered Tehran.

    Iran said that it would abandon limits on uranium enrichment following the assassination of General Qassem Soleimani. The U.S. withdrew from the 2015 nuclear agreement in 2018, and Iran has gradually ratcheted back its commitments in response. Iran said its moves were reversible upon U.S. returning to the nuclear deal.

    OPEC’s crude oil production further declined in December as the cartel’s leader Saudi Arabia continued to lead by example cutting much more than required and as the biggest laggards in compliance—Iraq and Nigeria—moved to better comply with their quotas. As per preliminary estimation, OPEC’s production in December 2019 dropped by 50,000 barrels per day (bpd) compared to November and stood at 29.5 million bpd. The Saudis reduced their crude oil production by another 50,000 bpd in December, taking the Kingdom’s over-compliance to more than 500,000 bpd compared to its quota in the deal. Iraq—OPEC’s number two in terms of production—also reduced its production by 50,000 bpd. Although this wasn’t enough to reach full compliance, Iraq was complying at 59 percent with its quota last month, up from meager 23-percent compliance in November. Nigeria saw its production drop by 80,000 bpd, nearing its quota, because of reduced exports of Bonga crude.

    It was reported, that because PDVSA has deteriorated due to a lack of cash and a worker exodus, the company has essentially handed over control to foreign partners. PDVSA is no longer producing and signing contracts for others to produce in a de facto privatization. Rosneft and CNPC were pointed out as the main beneficiaries.

    The U.S. oil and gas rig count is down below 800 for the first time since the spring of 2017. The shale industry continues to shed rigs, as pressure from investors grows. The trend supports fuel indications.

    The American Petroleum Institute reported that crude stockpiles dropped by 5.9 million barrels for the week ended Jan. 3, compared with a plunge of about 11.5 million barrels reported for the week before.

    We expect bunker prices may demonstrate today firm upward movement in a range of plus 8-11 USD.




2021 December 5

13:27 USCG holds annual SaR exercise off Maui
12:33 Port of Felixstowe tops 100 million TEU
11:51 Vuosaari fairway deepening project completed on schedule, safely and under budget
10:47 New regional technology clusters in WA and Qld driving growth in Australia’s hydrogen sector

2021 December 4

15:21 MOL and Flotation Energy to explore offshore floating wind in Japan
14:51 Sembcorp Marine's LMG Marin to design world’s first zero-emission fuel tanker
13:09 USCG, royal Turks and Caicos Islands Police Force sign MOU
12:34 The Hurtigruten terminal has been renamed Jektevik terminal
11:02 Port of Rotterdam Authority embarks on partnerships with three promising maritime companies

2021 December 3

18:26 Hydrographic Company set to establish Center of Engineering and Technical Expertise
18:07 ABP Humber complete oil spill incident management exercise
17:52 Wärtsilä OPTI-DP Engagement Tool supporting the marine industry to configure optimised propulsion arrangements for DP vessels
17:45 Ocean Network Express conducts a joint crisis management drill with Seaspan Corporation
17:40 Transport Strategy of Russia until 2030 with forecast until 2035 published on official portal
17:22 MSC adds Hamburg to its feeder service „Baltic Loop 3“
17:02 Vyborg Shipyard launches KMT01 trawler named Kara Sea
16:32 South African minister visits Port of Rotterdam to discuss hydrogen exports
16:05 PD Ports contracts Konecranes to convert four RTGs to electric
15:31 Four Jones Act CTVs built to ABS Class to support U.S. offshore wind development
15:17 ABS, NYK, MTI and WinGD team-up to verify design with modeling and simulation
14:03 Jurong Port joins the Castor Initiative
13:30 ABS awards sustainability notations to two Harvey Gulf vessels
13:04 Kapitan Dranitsyn and Admiral Makarov icebreakers reinforced icebreaker group on NSR
12:57 Royal IHC delivers key components for “R.B. Weeks” to Weeks Marine
12:42 Icebreaker assistance season begins in White Sea waters
12:17 Sailing practice of 2021 on Mir sailing ship successfully completed
11:21 NCSP Group's consolidated revenue for 9M’2021 rose by 9.3%
10:53 Foreign contractors can be involved to build LNG-powered icebreakers for Arctic
10:38 MABUX: Bunker prices may demonstrate multidirectional changes with tendency to grow on Dec 3
10:29 The Korean Register publishes guidance for containers loading on bulk carriers
10:20 MSU-1 to perform reconstruction of Gorodetsky hydrosystem locks
09:57 Annual repair dredging in Gulf of Ob from 2023 estimated at 5 million cbm
09:35 Crude oil prices rise on OPEC+ decision to keep oil output increase in January
09:18 Baltic Dry Index as of December 2

2021 December 2

18:36 NRP buys handysize drybulk carrier
18:06 2M Alliance’s Far East liner service „AE 7/Condor“ calls at Hamburg again
17:54 Icebreaker assistance season starts in Big Port St. Petersburg on December 7
17:36 Vitol is first customer to approve completely digital inspection of cargo tanks
17:15 BIMCO launches new contract for employment of security escort vessels
16:45 GTT will design the tanks of four new LNG carriers ordered by Daewoo Shipbuilding & Marine Engineering to operate in Arctic waters
16:25 MOL announces delivery of next-generation coal carrier 'EeneX' series
16:05 PSA & ONE launch environmentally friendly barge service at Jurong Island Terminal
15:42 “K” Line conducts trial use of marine biofuel for decarbonization on car carrier
15:38 Wärtsilä wins order to supply cargo handling system for second LNG bunker vessel being built by Fincantieri Bay Shipbuilding
15:23 Verifavia launches industry’s first real-time carbon intensity indicator dashboard
14:55 Two more LK-60 icebreakers needed for regular year-round navigation on Northern Sea Route
14:28 Equinor and SSE reach financial close on the third phase of the world's biggest offshore wind farm
14:04 Nuclear-powered icebreaker Sibir to commence operation in Kara Sea in early January 2022 – Vyacheslav Ruksha
13:42 MABUX: Bunker Weekly Outlook, Week 48, 2021
13:02 European shipowners call for further action in the Gulf of Guinea
12:40 Rolls-Royce to supply eight mtu engines for new Svitzer tugs in Brazil
12:01 Throughput of Azov port in 11M’2021 climbed by 1% YoY
12:00 NORDEN simplifies business unit structure
11:36 Norway’s Eksfin tops NOK 10bn in offshore wind financing as Dogger Bank C reaches financial close
11:34 Annual throughput of Severnaya Zvezda project on Taimyr peninsula to exceed 7 million tonnes from 2026
11:10 MABUX: Uncertainty on Global bunker market to continue on Dec 02
10:00 Digital Twin Conference 2022 to be held virtually on 11-12 May 2022
09:33 Crude oil prices are rising in expectation of OPEC+ meeting
09:19 Baltic Dry Index as of December 1

2021 December 1

19:15 PortNews to hold Ship Repair, Modernization and Components Conference on 20 September 2022 in Saint-Petersburg