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  • MABUX Digest: Top events on global bunker market: Week 10
  • 2020 March 9 13:19

    MABUX Digest: Top events on global bunker market: Week 10

    The Weekly 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 downward trend in the period of Mar 02-06:

    380 HSFO 343.10 → 337.68 USD/MT (minus 5.42 USD)
    VLSFO     474.00 → 465.00 USD/MT (minus 9.00 USD)
    MGO     551.39 → 547.87 USD/MT (minus 3.52 USD)

    • With the entry into force of the International Maritime Organization’s (IMO) fuel oil carriage ban on 1 March, non-scrubber-equipped vessels carrying bunker fuel oil with a sulphur content of more than 0.50% will be in automatic violation of the IMO 2020 regulation. Showing that vessels without Exhaust Gas Cleaning Systems have non-compliant fuel aboard will be enough to prove a violation.

    • In India shipowners are facing initial challenges with the supply and availability of very low sulphur fuel oil (LSFO). Market participants indicate India’s current LSFO demand is 1-1.5 mmtpa (assuming 5%-10% of Indian ships have installed scrubbers), which is only 1-2% of global bunker-fuel sales.

    • China’s marine fuels sales fell by as much as 50% in February as the rapidly spreading coronavirus and prolonged Lunar New Year break strangled freight movement in and out of the country. The demand shock could also delay Chinese refiners’ plans to boost output of VLSFO, which yielded profits averaging about $15 a barrel above Brent crude in February

    • Preliminary statistics released by the Panama Maritime Authority (AMP) show that marine fuel volumes in January 2020 totalled 477,399 metric tonnes (mt), a 8.81% increase on the 438,681 mt sold in January 2019. A marked increase in vessel transits along the canal supported the growth in bunker sales. A total of 725 vessels transited the canal in January 2020 up from 569 in January 2019.

    • South Korea said it has decided to take additional steps to support local shipping firms and passenger ferry operators amid growing concerns over economic fallout from the global spread of the new coronavirus. Under the updated plan, South Korea will provide some 90 billion won in low-interest loans of around 2 percent to local shipping firms should the virus outbreak continue for more than three months. Each company can apply for up to 5 billion won.

    • The European Commission proposed on Mar.04 enshrining the European Green Deal’s commitment for carbon neutrality by 2050 into legislation, as part of the European Union’s heightened focus on climate action and policy. Under a European Climate Law, the 2050 carbon neutrality target would become legally binding, and all EU institutions and member states will be collectively bound to take the necessary measures at EU and national level to meet that target.

    • In a move intended to ‘accelerate strategy execution,’ Wärtsilä says the new businesses - Marine Power, Marine Systems and Marine Voyage – will be operational as of 1 July. The reorganisation is said to be a continuation of the changes the company made in 2019 when its equipment and service businesses were integrated to strengthen the focus on complete lifecycle solutions.

    • Since the start of the year, Lloyd’s Register BQS Service has noted ‘a large number of discrepancy incidents and shortages in bunker surveys’. While acknowledging that the contributory factors to this issue have varied from port to port, FOBAS highlights that one of the main reasons for the situation could be that very low sulphur fuel oils (VLSFO) are not stabilising in barge and vessel sounding pipes. This can lead to inaccurate or false readings of the measured fuels ‘due to poor flow of the liquid caused by low temperatures (ambient and fuel) causing waxy conditions.’

    • The Shipowners' Club cautions, the implementation of the global 0.50% sulphur cap at the start of the year could result in an escalation in the number of commercial disputes between Club members and charterers, bunker suppliers and scrubber equipment installers – and the costs of such disputes could be high.

    • The International Maritime Organization (IMO) has announced that it has decided to postpone two meetings that were due to take place this month as a result of the coronavirus outbreak – and there may be further meeting postponements. The two meetings which have been postponed are:
    - the meeting of the Scientific Group of the London Convention and London Protocol, which was scheduled to take place next week from 9 to 13 March
    - the 107th session of the Legal Committee, which was scheduled to take place from 16 to 20 March

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2021 October 27

18:22 IMC Shipping appoints Mingfa Liu as managing director for ship services
18:07 TotalEnergies and MOL hold naming ceremony of France’s first LNG bunker vessel
17:51 Damen built LNG bunkering vessel enters service in the Gulf of Finland
17:42 Rosmorport takes delivery of LNG-powered Ro-Ro ship Marshal Rokossovsky
17:40 DEME Offshore installs final foundation at Hornsea Two offshore wind farm
17:34 Port of Zeebrugge posts a strong growth in nine months of 2021
15:40 Dublin Port volumes down by 3.3% after nine months of 2021
14:33 IMO considers midterm-measures for GHG reduction from ships
14:12 BIO-UV Group adds 3d scanning to turnkey BIO-SEA BWTS retrofit services
13:50 Ocean Yield agrees to invest in six VLCCs with 10-year bareboat charters to International Seaways
13:02 WinGD invests in training as gas-fuelled fleet grows
12:52 Vyborg Shipyard contracted to build an 18 MW icebreaker for Rosmorport
12:38 Zero emissions by 2050 is not enough for most developed countries if planetary warming is to be limited to 1.5 degrees - DNV
12:37 The LNG Fleet, LNG Bunkering and Other Alternatives Conference kicks off in Moscow
12:06 FESCO to supply Indian stations in Antarctica for another 5 years
11:51 Constructora Vale Verde places a repeat order for a cutter suction dredger with Damen Shipyards
11:19 MarineMax reports record fourth quarter and fiscal year results
11:18 FSRU Marshal Vasilevskiy completes maiden voyage with LNG cargo on the Northern Sea Route
10:09 Siemens Gamesa solidifies offshore presence in U.S. with Virginia blade facility
09:55 MABUX: No firm trend on Bunker market on Oct 27
09:33 Baltic Dry Index as of Oct 26
09:25 Aquadrill announces sale of a semisubmersible drilling unit
08:57 Oil prices edge lower

2021 October 26

18:06 FarSounder and NAVTOR announce a new partnership
17:49 Russian State Duma approves a bill on wrecks removal in the first reading
17:36 FuelEU can do more for the decarbonisation of shipping – World Shipping Council
17:08 First global hydrographic innovation and technology laboratory established in Singapore
16:31 BIO-UV Group adds 3D scanning to turnkey BIO-SEA BWTS retrofit services
16:24 Wärtsilä commits to carbon neutrality by 2030
16:05 CSL Americas takes delivery of second converted self-unloading ship
15:27 Damen Maaskant Shipyards Stellendam delivers 38-metre Beam Trawler to Rederij Long Ships
15:17 Vard Electro dual-battery pack to reduce emissions for Siem Offshore subsea vessel
15:01 Baltic Shipyard marks successful loading of shield tank duo onto the 22220 nuclear icebreaker Yakutia
14:13 BW Energy signs an agreement for the acquisition of semi-submersible drilling rig for the Kudu development
13:19 Wallem Group appoints John-Kaare Aune as new Chief Executive Officer
12:13 DP World: RWG terminal to be the first carbon neutral container terminal in the world
11:32 ClassNK grants Innovation Endorsement for Products & Solutions to Weathernews’s CIM
11:02 AIDA Cruises’ new cruise ship completes its first voyage on the river Ems
10:51 Sea Machines names Trevor Vieweg as new chief technology officer
10:14 TECO 2030 receives NOK 50 million in government support for fuel cell development
10:07 MABUX: Bunker prices may demonstrate irregular changes on Oct 26
09:54 Baltic Dry Index as of Oct 25
09:51 San Pedro Bay ports announce new measure to clear cargo
09:09 Oil prices continue to climb

2021 October 25

19:59 Severnaya Verf readies the 170701 series factory freezer trawler Kapitan Sokolov for shore power connection
18:13 CMA CGM applies Winter Surcharge in the Russian ports of St Petersburg, Bronka and Ust-Luga
17:44 Estonia’s Elenger takes delivery of first Damen LGC 6000 LNG bunkering vessel
17:34 Carnival Cruise Line christens Mardi Gras in first naming ceremony in the U.S. since industry restart
16:57 Sembcorp Marine clarifies report on the Johan Castberg Project
16:47 Two ways to experience the Fort Lauderdale Int'l Boat Show
15:23 Trafigura Group closes USD2.4 billion-equivalent syndicated revolving credit facility and term loan facilities
14:22 Sea Port of Saint Petersburg’s employees support package during COVID-19 pandemic
14:02 Svanehøj launches a new control system makes P&C offloading faster and easier
13:20 PIL launches new direct China to Gulf Service – Gulf China Service
12:15 Port of Hamburg honoured as ‘Best Seaport – Europe’
11:35 LR granted AiP to Samsung Heavy Industries for liquefied hydrogen carrier
11:12 Rosmorport updates Port of Ust-Luga data in the Register of Russia’s seaports
10:17 MABUX: Bunker prices may demonstrate upward changes on Oct 25
09:38 Russian Gov’t gives green light to imposing some port services tariffs in foreign currency
09:21 Baltic Dry Index as of Oct 22