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  • MABUX: Bunker market this morning, Feb 10
  • 2020 February 10 09:42

    MABUX: Bunker market this morning, Feb 10

    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 demonstrated irregular changes on February 07:

    380 HSFO: USD/MT 365.43 (+2.04)
    VLSFO: USD/MT 558.00 (-1.00)
    MGO: USD/MT 606.07 (-4.35)


    Meantime, world oil indexes decreased on Feb. 07 after Russian Energy Minister Alexander Novak couldn’t give his assent to suggestions from OPEC’s suggestion that the group and its allies, which include Moscow, cut an additional 600,000 barrels per day in supply.

    Brent for April settlement decreased by $0.46 to $54.47 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for March declined by $0.63 to $50.32 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $4.15 to WTI. Gasoil for February delivery fell by $2.50.

    Today morning oil indexes continue downward trend on oversupply worries as virus hits China demand.

    This week, a panel advising OPEC, suggested provisionally cutting output by 600,000 barrels per day (bpd). However, Russia Energy Minister Alexander Novak said Moscow needed more time to assess the situation. He predicted global oil demand may fall by 150,000 to 200,000 barrels per day (bpd) in 2020 in part because of the coronavirus. Despite Novak’s optimism about the current demand for oil, most analysts say refinery demand for crude and airlines’ consumption of jet fuel are falling by hundreds of thousands of barrels per day due to the impact of the coronavirus crisis. Producers in OPEC+ are scheduled to meet in Vienna on March 5-6, although the meeting could be brought forward because of concerns surrounding the virus.

    Prices have fallen about a fifth since the outbreak of the virus in the Chinese city of Wuhan. China is the world’s biggest importer of crude, taking in roughly 10 million bpd in 2019. U.S. Energy Secretary Dan Brouillette said on Feb. 07 that the impact of the coronavirus outbreak on global energy markets is currently marginal, though it could worsen if the virus spreads. At the same time, Chinese policymakers are preparing measures, including more fiscal spending and interest rate cuts, amid expectations that the outbreak will have a devastating impact on first-quarter growth.

    U.S. energy firms added oil rigs for the third time in four weeks even though producers planned to continue reducing spending on new drilling for a second consecutive year in 2020. According to Baker Hughes, companies added 1 oil rig last, bringing the total count to 676.

    The U.S. Energy Information Administration projected crude output will rise about 9% in 2020 to 13.3 million barrels per day (bpd) and 3% in 2021 to 13.7 million bpd from a record 12.2 million bpd in 2019.

    Libya’s oil production dropped to 181,576 barrels per day, NOC said on Feb.07. Oil output in Libya has been plunging since Jan. 18 due to a blockade of ports and fields by groups loyal to eastern-based commander Khalifa Haftar, falling to current levels from about 1.2 million bpd before the stoppage.

    We expect bunker prices may decline today: US$ 1-3 down for IFO, US$ 1-3 down for MGO.




2022 December 4

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2022 December 3

15:49 Schedule reliability continues on its upwards trend - Sea-Intelligence
13:07 Concordia Maritime announces delivery of sold vessel and continued review of its fleet
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2022 December 2

18:25 Queues to pass through Bosporus Strait worse than past year - Lloyd's List Intelligence
18:07 e1 Marine, NAVTEK partner to develop hydrogen-powered car carrier vessel - H2 View
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17:00 Nuclear-powered icebreaker Ural of Project 22220 leaves Murmansk for the first operational voyage
16:52 The ports in Szczecin and Swinoujscie cargo transshipments up by 9.4 percent in Jan-Nov 2022
16:24 GTT receives two orders from Samsung Heavy Industries for the tank design of seven new LNG сarriers
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15:46 Krasnoye Sormovo may be contracted for building river/sea class ships for Belarussian companies
15:29 Hyundai Heavy Industries Group to present 'ocean transformation' plans at CES 2023
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14:24 Freeport LNG delays restart target to end of year amid US regulatory hurdles - S&P Global
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12:56 Aker BP’s Board approves field development projects
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11:52 Indian port operator orders three Generation 6 Konecranes Gottwald Mobile Harbor Cranes to electrify bulk handling
11:35 LR authorised to carry out certification activities for non-SOLAS ships in Italy
11:26 A batch of reefer containers delivered to Vladivostok Sea Fishing Port
11:03 Singapore and Netherlands accept IMO Convention amendments
10:58 Accelleron launches new all-inclusive service agreement for auxiliary engine turbochargers
10:35 Sempra announces sale and purchase agreement with INEOS for Port Arthur LNG Phase 1
09:44 Winter-spring navigation season begins on the Northern Sea Route
09:40 NYK concludes investment and strategic partnership agreements with Pertamina
09:15 Rosmorport receives new certificate of conformity of Novorossiysk VTS

2022 December 1

18:07 Plans for increased gas extraction from Oseberg approved
17:56 Court confiscates FESCO shares owned by Ziyavudin Magomedov
17:23 ClassNK issues AiP for a dual fuel generator engine using hydrogen gas as fuel
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13:36 ESL Shipping sells agency business in Sweden to GAC
13:18 Oboronlogistics’ ships start operating on Kaliningrad – Great Port of Saint-Petersburg line
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11:13 Shell signs agreement with Alfa Laval to develop a Gas Combustion Unit for hydrogen boil-off gas
10:34 Singapore accepts amendments to the International Maritime Organization Convention
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2022 November 30

18:11 duisport and VITRONIC present solution for automatic detection of containers
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