• 2020 March 13 09:41

    MABUX: Bunker market this morning, Mar 13

    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 declined on March 12:

    380 HSFO: USD/MT 291.14 (-6.11)
    VLSFO: USD/MT 392.00 (-10.00)
    MGO: USD/MT 478.90 (-7.17)


    Meantime, world oil indexes fell on Mar. 12 after President Donald Trump restricted travel to the United States from Europe as part of measures to try to halt the spread of coronavirus. The World Health Organization described the outbreak as a pandemic.

    Brent for May settlement decreased by $2.57 to $33.22 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for April fell by $1.48 to $31.50 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $1.72 to WTI. Gasoil for April delivery decreased by $38.75.

    Today morning oil indexes slightly rise due to the correction.

    President Donald Trump banned most Europeans from coming into the United States to prevent the Covid-19 spread. Trump’s decision to stop travelling from 26 European pushed the prices down.

    A flood of cheap supply coming onto the market from Saudi Arabia and the United Arab Emirates compounded pressure on prices. The Gulf Arab producers are raising production as they go on the offensive in an oil price war with Russia. Saudi Arabia has already stepped up efforts to squeeze Russia's Urals oil grade out of its main markets by offering its own cheap barrels to refiners worldwide that buy Russian crude.

    As top oil exporter Saudi Arabia moved quickly to boost output, Russia stuck by the decision that led last week to the collapse of its alliance with Riyadh and other producers. Moscow said that there was no point cutting output because it would likely be too little to compensate for the virus' impact on global demand.

    The International Energy Agency this week decreased its annual forecast for global oil demand by almost 1 million barrels per day, or 1%. Demand in the first quarter has fallen sharply on the year, mostly because of the impact of the virus on economic activity in China.

    With demand falling sharply and output rising quickly, the market is facing a big surplus in April. Estimates for the scope of the glut vary up to 6 million bpd.

    The March 18 meeting of the OPEC+ panel monitoring the oil market and producers’ compliance with quotas has been canceled as Saudi Arabia and its OPEC allies face off with Russia in an escalating oil price war after the OPEC+ group failed to agree on joint actions on March, 6. Earlier on March 11, reports suggested that the meeting would go ahead, but in a teleconference format because of the coronavirus outbreak which is spreading in Europe. Russia’s energy ministry believes that under the circumstances a teleconference is the most adequate format for holding the meeting, but didn’t confirm the date of March 18, saying that “we need to ascertain if we have received an official invitation.”

    We expect bunker prices to decrease today: 10-15 USD down for IFO, 25-30 USD down for MGO.




2020 November 28

15:51 Turkish shipbuilder orders boiler package from Parat for NB1105
14:23 Volkswagen Group selects marine biofuel leader GoodFuels to run fossil-free car transport operations
13:18 Fincantieri inks agreement with the Yucatán Gov’t for a new shipyard
12:27 Piriou has developed 100M cable vessel
11:39 Federal Maritime Commission increases global alliances' information monitoring report requirements
10:57 Managing passenger shipping for the benefit of all stakeholders

2020 November 27

18:27 First full-flow ballast water management system to receive Chinese Flag and CCS Type Approval
18:05 CLdN adds 2nd call on Zeebrugge - Cork route
17:47 Seagoing vessels mooring at North Sea Port will now pay a single tariff for the entire cross-border port area
17:26 FESCO delivered extra heavy power equipment from Russia to Bangladesh
17:05 LR, Anemoi and SDARI join forces on rotor sail designs
16:39 Interested parties invited to submit offers on development of deepwater terminal in Świnoujście
16:14 Sea-Cargo starts new freight service via Gothenburg
15:50 Yantar shipyard delivers new trawler of Project SK-3101R
15:48 Mikki Koskinen elected as the new Chairman of Finnish Shipowners’ Association
15:36 Head of Delo Group outlined tasks for updated composition of TransContainer BoD
15:15 IHM Certification for UK flag ships subject to PSC inspection at EU ports
14:48 IADС continues partnership with organizers of Hydraulic Engineering Structures and Dredging Congress
14:14 Wilhelmsen awarded funding for Singapore 3D printing project
13:59 World Maritime University and Batumi State Maritime Academy signed MoU
13:33 Bunker prices recover in the Far East ports of Russia (graph)
13:14 Fully integrated Wärtsilä Hybrid Solution selected for new Misje Rederi bulk carriers
12:50 BW Lilac to deliver its first LNG cargo to Klaipėda LNG terminal
12:25 Russian Maritime Register of Shipping takes part in ROOGD-2020
12:01 The world’s first LPG-fuelled vessel has set sail
11:31 Port of Southampton to open new cruise terminal for 2021 season
11:07 DEME awarded the prestigious Abu Qir port project in Egypt
10:44 Main engines loaded on General Chernyakhovsky ferry being built by Rosmorport’s order
10:17 Austal Australia cuts metal on third of six cape class patrol boats for Royal Australian Navy
10:15 2020 season of shipping through Volga-Baltic locks is over
09:51 Equinor and partner reach financial close on world's biggest offshore wind farm
09:36 Baltic Dry Index as of November 27
09:31 MABUX: Bunker Market this morning, Nov 27
09:22 Oil prices decrease on uncertainty over OPEC+ deal

2020 November 26

18:31 Port of Houston is now the number one port in U.S. in terms of total waterborne tonnage
18:00 Port of Rotterdam to embark on 100 innovative pilot projects
17:51 RF Navy’s frigate Admiral Gorshkov performs tests in the White Sea
17:27 DFDS and its partners apply for EU support for development of hydrogen ferry
17:24 Rosneft conducts stratigraphic drilling on Arctic shelf
16:59 RF Navy's corvette Boykiy completed missions in the English Channel
16:27 RF State Duma approves lifting the ban on storage of agricultural chemicals in ports
16:03 MacGregor reaches OnWatch Scout milestone
15:25 APM Terminals Gijon responds to doubling of container volumes
14:58 Western Shipyard boosts its vessel repair capacity
14:33 Keppel secures contract worth about S$100 million for FPSO project
14:29 EU funds to dredge the navigation channel up to -15 meters in Klaipeda Port
14:02 BC Ferries to trial two ship service on Campbell River – Quadra Island route
13:48 Andrey Severilov elected as Chairman of FESCO BoD
13:30 The Danish Armed Forces and DFDS enter into an agreement on providing ships for the transport of military equipment
13:22 MPA invites market specialists to join its International Safety@Sea Webinar Series
13:02 Fincantieri with the fishing association “Federpesca” to revive the national fishing economy
12:24 Rosneft completed survey and design stage of the project to a port in Sever Bay
12:01 APM Terminals Apapa continues equipment investment programme
11:31 Huntington Ingalls Industries awarded contract for construction of first two Columbia-class submarine modules
11:06 Aquila Power Catamarans rolls out its redesigned sport power catamaran
11:06 Maqta Gateway and TruKKer to collaborate on digital truck booking services through “MARGO”
10:55 New Alfa Laval CM wireless condition monitor boosts process uptime while protecting plant equipment
10:26 BPA: Gov't one year spending review
10:04 Volvo Penta’s transformation for the marine commercial professional of today and tomorrow
09:50 50 vessels and up to 100 drilling units to service Vostok Oil project