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  • 2020 January 29 09:49

    MABUX: Bunker market this morning, Jan 29

    The Bunker Review was contributed by Marine Bunker Exchange (MABUX)

    MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO (Gasoil) in the main world hubs continued to decline on January 28:

    380 HSFO: USD/MT – 372.55 (-5.59)
    VLSFO: USD/MT – 591.00 (-8.00)
    MGO: USD/MT – 634.83 (-9.99)


    Meantime, world oil indexes rose on Jan.28 gaining support from talk that OPEC and its allies might tighten the market amid fears the coronavirus could weigh on oil demand.

    Brent for March settlement increased by $0.19 to $59.51 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for March rose by $0.34 to $53.48 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $6.03 to WTI. Gasoil for February delivery added $13.50.

    Today morning oil indexes continue slight upward evolution on talk that OPEC could extend oil cuts and data showing a decline in U.S. stockpiles. The main driver that weights oil indexes is a virus in China. However, the output outages in Libya and OPEC comments calmed the market.

    OPEC wants to extend oil production cuts until at least June from March, and may deepen the reductions should demand for oil in China be significantly reduced by the spread of the virus. As the oil price fell below that seen during a December meeting of the OPEC+, Saudi Arabia said that the group could respond to any changes in demand. Saudi and other OPEC producers, however, sought to downplay demand concerns resulting from the virus outbreak.

    The remarks followed a statement on Jan.27 from Saudi Arabia’s oil minister, Prince Abdulaziz bin Salman, aimed at calming the market after crude dropped below $59/b amid fears of a wider economic impact of the virus. He said, the kingdom has the capability and flexibility needed to respond to any developments, by taking the necessary actions to support oil market stability, if the situation so requires.

    The United States and other countries warned against travel to China as the coronavirus death toll rose to more than 100 and after the virus was detected in more than a dozen countries outside China. There are some concerns that travel advisories, other restrictions and any sizable impact on growth in China and elsewhere will dampen demand for crude and related products against a backdrop of plentiful supply.

    China’s already weakening economy is set to take another hit with businesses across the country remaining shut for an extended public holiday and tourism grinding to a halt, as authorities struggle to contain the pneumonia like coronavirus that has spread across the nation.

    In Libya the output is down by nearly 75% to just below 300,000 bpd amid the most extensive oil blockade for years. Some say, OPEC probably does not need to do anything as long as Libya continues to be shut.

    According to the American Petroleum Institute, stockpiles of U.S. crude fell sharply last week by 4.3 million, compared with build of 1.6 million reported last week. The Energy Information Administration reports the official government numbers later today.

    We expect bunker prices may increase today: 1-3 USD up for IFO, 10-13 USD up for MGO.




2021 December 1

14:07 SEA-LNG backs Europe’s goal-based, technology-neutral regulation for cleaner shipping
13:50 Liepaja SEZ Board appointed Uldis Hmieļevskis, Deputy CEO, as Acting Manager
13:14 Rolls-Royce extends TBO intervals of mtu Series 4000 engines for commercial marine application
13:03 Oil shipments via CPC Marine Terminal in 11M’21 climbed by 0.7% YoY
12:56 Valenciaport tenders the drafting of the urban development project for areas 2 and 5 of the Special Plan for zone 1 south of the Port of València
12:06 Mostotrest conducted 2,177 operations on raising bridges in Saint-Petersburg over navigation season of 2021
11:45 MABUX: Bunker prices may continue to decline on Dec 1
10:49 Russian Railways' network loading climbed by 3.3% in 11M’2021
10:15 Maersk Customs Services USA highlights trends and opportunities for U.S. importers
09:51 Port of Kiel receives funding for digital test field
09:30 Crude oil prices start rising
09:16 Baltic Dry Index as of November 30

2021 November 30

18:35 ICS urges WTO Director General to prioritise maritime transport in multilateral trade negotiations
18:14 First phase of Tuas Port reclamation works completes
17:53 Finnlines announces bunker surcharge for Malmö-Travemünde-Malmö
17:35 HDB, JTC and MPA, which issue over two-thirds of government invoices, offer e-invoicing through IMDA’s InvoiceNow
17:04 DNV supports world first large-scale testing of submerged CO2 pipelines
16:48 RF Navy’s large anti-submarine ship Vice Admiral Kulakov enters Barents Sea
16:34 Brittany Ferries takes delivery of Salamanca
16:04 Port of Oakland total cargo volume down 20 percent in October 2021
15:50 RF Navy's corvette Gremyashchy and two submarines of Varshavyanka project welcomed in Vladivostok
15:39 Abbey Heimensen appointed to VP of Marketing, MarineMax
15:34 The Port of Barcelona validates its Innovation Plan
15:19 Icebreaker Sibir of Project 22220 completed main part of shipbuilder’s sea trials
15:04 Terminal San Giorgio orders an eco-efficient Konecranes Gottwald ESP.8 Mobile Harbor Crane
14:43 Keppel Offshore & Marine signs global framework agreement with Ørsted on potential future offshore substation projects
14:24 DEME Group Signs Partnership Agreement with CIP for the Development of Energy Island in Danish North Sea
14:03 Volvo Penta to power Hurtigruten Svalbard’s new hybrid vessel
13:42 Rosterminalugol starts building wind and dust protection screens around its coal storage area
13:24 Kongsberg Digital and Aker BP extends collaboration agreement to accelerate data utilization
12:50 Container shipping costs up by 121.2% year-on-year - Xeneta
12:10 Navigation season closed on rivers of Saint-Petersburg
12:04 Ningbo Containerized Freight Index decrease slightly in November
11:48 1.59 million cbm of material dredged within Azov-Don Basin of Russia’s IWW in 2021
10:56 MABUX: Global bunker market turned into upward correction mode on Nov 30 after yesterday’s price collapse
10:42 China ports container volume rises 8.4% from January to October 2021
10:34 Port of Gdańsk awarded by the European Sea Ports Organisation
09:57 Klaipėda is preparing for the development of offshore wind energy in the Baltic Sea
09:30 Crude oil prices continue rising
09:15 Baltic Dry Index as of November 29
08:33 MAN Energy Solutions upgrades four-stroke engines for green future-fuels

2021 November 29

18:19 Gazprom posts RUB 1.59 trillion of operating profit in 9M’2021
17:58 Wärtsilä partners with China Classification Society and Tianjin Port Group
17:17 Construction of ice protection facilities at Utrenny terminal under Arctic LNG 2 project to be completed in 2022
16:54 Wallenius Wilhelmsen names new CEO
16:50 Lloyd’s Register is the world’s first Renewable Energy Certification Body for marine energy
16:19 Handling of socially important cargo to be obligatory prioritized by operators of sea terminals
15:41 Average spot market price for Russian M100 product rose to RUB 26,672 pmt
15:22 13 million cbm of material to be dredged in 2022 as part of Sabetta seaport’s Seaway Canal reconstruction
14:46 Oboronlogistics delivered cargo to Abkhazia
14:13 X-Press Feeders signs for sixteen new 1,170 TEU vessels
13:34 Alexeev’s Hydrofoil Design Bureau launches yet another Valdai 45R hydrofoil for Chuvashia
13:05 COSCO SHIPPING Ports and CSTD sign JV agreement with Tianjin Port Holdings and China Merchants International Terminals
12:57 DNV publishes pioneering new competence standard and recommended practice
12:47 Baltic Workboats AS developed new standard in commissioning of vessels together with Siemens Energy
12:24 MABUX: Bunker prices may sharply decline on Nov 29
12:08 Small missile ship Veliky Ustyug enters Caspian Sea to perform training and combat missions
11:45 Russian Maritime Register of Shipping issues digest of main changes in RS Rules
11:26 UECC takes delivery of the world’s first dual-fuel LNG battery hybrid PCTC
11:00 Yana Voytsekhovskaya appointed as Editor-in-Chief of IAA PortNews