• 2020 January 23 10:56

    MABUX: Bunker market this morning, Jan 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 declined on January 22:

    380 HSFO: USD/MT – 379.48 (-1.65)
    180 HSFO: USD/MT – 624.00 (-3.00)
    MGO: USD/MT – 667.43 (-6.52)


    Meantime, world oil indexes fell on Jan.22 as the International Energy Agency's (IEA) forecast of a market surplus in the first half of this year.

    Brent for March settlement decreased by $1.38 to $63.21 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for March fell by $1.64 to $56.74 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $6.47 to WTI. Gasoil for February delivery declined by $16.75.

    Today morning oil indexes continue to decline as the American Petroleum Institute (API) reported that crude inventories rose last week.

    According to the API, oil inventories gained by 1.6 million for the week ended Jan. 17. The Energy Information Administration (EIA) will report its weekly inventory numbers today, one day later than usual due to the Martin Luther King Day Holiday on Monday. It is expected that crude stockpiles fell by 1 million barrels last week, extending the previous week’s drop of 2.5 million barrels.

    At the same time, the IEA expects the market to be in surplus by a million barrels per day (bpd) in the first half of this year. Supply worries were underlined by remarks Tuesday by International Energy Agency (IEA) on the sidelines of the World Economic Forum annual meeting in Davos, Switzerland. It sees “an abundance of energy supply in terms of oil and gas. It’s the reason that recent incidents we have seen — with the Iranian general killed, Libya unrest — didn’t boost international oil prices”.

    Libya's National Oil Corp on Jan.20 declared force majeure on the loading of oil from two major oil fields after the latest development in a long-running military conflict. Unless oil facilities quickly return to operation Libya's oil output will be reduced from about 1.2 million barrels per day (bpd) to just 72,000 bpd.

    Meanwhile the indexes were pressed down by the emergence from China of a new strain of a coronavirus, with concern focused on the impact a pandemic might have on economic growth. The outbreak has stirred memories of the SARS epidemic of 2002-2003. Should the new virus develop into SARS-like proportions, hitting travel and growth, demand for oil could fall by 260,000 bpd. The mysteries coronavirus killed at least 17 people and infected hundreds of people in China will continue to spread to other countries. It is already found in Hong Kong, one diagnosis in the U.S. and Macau, and patients under examination in Japan, Mexico and Russia. On Jan.23, China’ state broadcast CCTV reported that Beijing has issued a travel suspension in Wuhan, a city of 11 million. All outbound flights and rail service are banned, according to the report, which said “citizens should not leave the city without special reasons.” The halt also includes travel by bus, subway and ferry.

    Supply is still likely to rise, with U.S. crude production in large shale deposits expected to rise to record highs in February, although the pace of increase is likely to be the lowest in about year, the U.S. Energy Information Administration (EIA) said on Jan 21. Inventories of crude oil in the U.S. are likely to have fallen last week.

    U.S. President Donald Trump on Jan.22 vowed dramatic action with the World Trade Organization, saying the group's director general would visit Washington as soon as next week, but giving no other details. The WTO lost its ability to intervene in trade disputes after the United States effectively paralyzed it when two of three members exited, leaving the trade arbiter unable to issue rulings.

    South America’s largest oil producer, Brazil, will launch discussions on potentially joining OPEC in July. However, even if talks are successful, Brazil is not expected to become a member of OPEC this year. The idea that Brazil may join OPEC was first aired in October last year, when Brazilian President Jair Bolsonaro said that OPEC’s top producer and de facto leader Saudi Arabia had informally asked Brazil to join the organization.

    We expect bunker prices will continue to fall: 5-7 USD down for IFO, 14-16 USD down for MGO.




2020 October 21

10:25 Yet another batch of large-size equipment for new ethylene plant delivered to Nizhnekamsk
10:02 Yevgeny Norenko takes position of Managing Director at Nobel Brothers and Vimpel shipyards
09:43 Bunker prices rise in the Port of Saint-Petersburg, Russia (graph)
09:24 Oil prices continue decreasing in response to US reserves growth
09:06 Baltic Dry Index as of October 20
09:05 CMA CGM announces PSS from North Europe to Asia
08:21 MABUX: Bunker market this morning, Oct 21

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