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  • 2020 March 23 10:19

    MABUX: Bunker market this morning, Mar 23

    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 increased on Mar. 20:

    380 HSFO: USD/MT 262.82 (+7.38)
    VLSFO: USD/MT 337.00 (+11.00)
    MGO: USD/MT 426.21 (+9.81)


    Meantime, world oil indexes demonstrated irregular changes on Mar. 20 lower after doubts emerged over the significance of reports that U.S. authorities could be looking at methods of curbing domestic supply.

    Brent for May settlement decreased by $1.49 to $26.98 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for May fell by $2.59 to $22.63 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $4.35 to WTI. Gasoil for April delivery increased by $13.25.

    Today morning oil indexes slight down as an anticipated deal between OPEC and the U.S. failed to materialise.

    The Trump administration plans to send a special energy envoy to Saudi Arabia to work with the kingdom on stabilizing the global oil market. U.S. officials believe Saudi Arabia's move to flood oil markets compounds the global economic crash during a crisis caused by the pandemic. A senior Energy Department official will be sent to Riyadh for months at least to work closely with State Department officials and the existing energy attache. U.S believe, that the energy representative would help the countries return to a path of stability, they said.

    Moreover, The Wall Street Journal suggested that the U.S., the biggest producer, is looking at imposing production quotas on domestic companies for the first time in decades, a move aimed at combating the supply glut. The U.S. has a history of regulating production through the Texas Railroad Commission back to before World War 2, but abandoned the practice nearly 50 years ago.

    At the same time the U.S. may lean on Saudi Arabia and Russia to rein in their output, with the threat of sanctions directed at the latter in particular. An end of the price war means that both Saudi and Russia would bring back their production levels to where they were prior to the OPEC+ talk in early March.

    On the other side demand destruction is only getting worse in the near term, as more and more of Europe and North America goes into lockdown. California, the most populous U.S. state, issued a "stay at home" order to residents on Mar. 18. In addition, Germany's richest state, Bavaria, extended its prohibition on non-essential activity. Germany's federal government has tighten its policy on closing non-essential business at the weekend, with the inevitable impact on fuel demand.
     
    According to S&P Global Platts Analytics Global oil demand could collapse by over 3 million b/d this year due to growing social and economic lockdown measures aimed at slowing the spread of the coronavirus pandemic. World oil demand could fall by over 12 million b/d on the year in April and May and result in annualized fall of as much as 3.2 million b/d in 2020. The estimate for the potential demand impact from coronavirus is one of the most bearish by forecasters to date.

    Norway-based consultant Rystad Energy on Mar.17 estimated that global oil demand will contract by 2.8 million b/d this year with jet fuel hit the hardest. Rystad estimated that jet fuel demand would fall by 12% year on year, or at least 800,000 b/d from last year’s average of about 7.2 million b/d. The International Energy Agency on Match 9 forecast a contraction in global demand for 2020 of 90,000 b/d — which would be the first shrinkage in consumption since the financial crisis in 2009.

    Baker Hughes reported that the number of oil and gas rigs in the U.S. plummeted last week by 20, falling to 722, with the total oil and gas rigs clocking in at 244 fewer than this time last year.

    The number of oil rigs decreased for the week, by 19 rigs, bringing the total to 664—a 160-rig loss year over year. The total number of active gas rigs in the United States fell by 1 according to the report, to 106. This compares to 192 a year ago.

    We expect bunker prices to demonstrate irregular changes today: 5-7 USD down for IFO, 10-12 USD up for MGO.




2021 October 21

18:02 Non-self-propelled dredgers of Project 4395 laid down in Gorodets for Russian IWW Basin Administrations
17:46 Magseis Fairfield enters strategic collaboration with PGS for the hybrid towed streamer and OBN market
17:31 HELCOM adopts the updated Baltic Sea Action Plan, charting a way forward for a healthy Baltic Sea
17:16 DP World launches CARGOES Logistics
16:30 Proman and Stena jointly develop methanol as the pathway to sustainable shipping
16:14 APM Terminals and ZPMC enter into strategic alliance
15:33 MPC Container Ships ASA secures new financing facility, agrees on sale of six vessels and provides update on charter fixtures
15:32 Okskaya Shipyard lays down lead ship of Project RSD71 for Volga Shipping Company
15:03 NYK and Japan Marine Science to introduce and promote new mooring system to Japan ports together with Trelleborg Marine Systems
14:45 MABUX: Bunker Weekly Outlook, Week 42, 2021
14:03 NYK delivers new LNG carrier LNG Endeavour to TotalEnergies
13:49 Global Ports Investments published its Q3 and 9m 2021 operational results
13:28 Seaspan Ferries to reduce greenhouse gas emissions through using carbon-neutral Renewable Natural Gas in LNG-powered vessels
13:18 Consolidated cargo turnover of NCSP Group for 8M 2021, year-over-year
12:34 Dmitry Pankov appointed as new CEO of Management Company Delo
12:11 Port of Los Angeles cargo volume exceeds 903,000 TEUs in September 2021
11:53 Hydrographic Company installs first buoys with AIS receivers on the Northern Sea Route
11:32 Challenges and optimism: Mixed views from ports industry on business outlook
11:09 DP World is officially named Port Operator of the Year at 2021 Multimodal Award
10:39 Yara Marine’s FuelOpt offers IMO EEXI compliant Shaft Power Limitation solution
10:08 The Ocean Cleanup starts removal of plastic from Great Pacific Garbage Patch with System 002
09:52 MABUX: Bunker prices may demonstrate slight upward changes on Oct 21
09:50 Contract signed for Phase 2 of the Bagayevsky hydrosystem construction project
09:35 Crude oil market sees downward price correction
09:18 LR Digital Twin approval for Samsung Heavy Industries
09:09 Baltic Dry Index as of October 20
08:01 Aker Solutions wins FEED for Wisting FPSO

2021 October 20

18:51 Intellian and Inmarsat launch industry’s newest FleetBroadband terminals
18:31 Oceangate’s 2021 titanic survey expedition connected by Inmarsat satellite communications
18:11 P&O Ferries launches comprehensive Customs Clearance Service
17:46 Kongsberg launches new Kognifai Marketplace
17:06 Rolls-Royce plans to partner the Indian Navy for its ‘Fleet of the Future’
16:35 MAN Energy Solutions signs MoU with Mitsui E&S and Mitsui O.S.K.
16:23 “K” LINE successfully separates and captures CO2 from exhaust gas in world’s first CO2 capture plant on vessel
16:02 Seanergy Maritime announces acquisition of its 17th Capesize vessel
15:44 Rates for container transportation expected to decrease in 2022
15:25 ENI and Fincantieri sign an agreement for initiatives to support the energy transition
15:02 Wärtsilä and Solvang to collaborate on retrofitting carbon capture and storage system on Clipper Eos
14:20 Port of Rotterdam appoints Allard Castelein for a third term
13:52 Kawasaki Heavy Industries announces delivery of bulk carrier BBG GUILIN
13:20 Port of Oakland sees no backlog on docks, calls for cargo
12:52 Japanese company Kubota chooses port of Rotterdam for Northern European distribution
12:39 Crowley participates in Saildrone Inc’s $100M Series C round to advance ocean intelligence products
12:02 Global Ports terminal In Helsinki increases number of container services
11:54 Port Houston container volumes up 11% to 281,500 TEUs in September 2021
11:40 Sibanthracite Group acknowledged as best supplier of coal to China for second consecutive year
11:16 MPA and DMU signed MoU to drive talent and academic exchange in the maritime sector
10:51 Mitsubishi Shipbuilding successfully separates and captures CO2 from exhaust gas in world’s first marine-based CO2 capture system project
10:28 Modernization of border checkpoint completed in Kavkaz seaport
10:06 RF President gives instructions on permanent environmental monitoring in areas of handling dry bulk cargo and cargo emitting dust
09:45 MABUX: No firm price trend on Bunker market on Oct 20
09:35 Crude oil prices decrease on US reserves growth
09:19 Baltic Dry Index as of October 19

2021 October 19

18:24 Ocean Yield ASA sells two LR2 tankers
17:44 Klaveness Combination Carriers sells a 21-years old CABU vessel
17:22 Oboronlogistics delivers cargo for the construction of a cultural cluster in Kaliningrad
16:58 North Sea Port, Zeeland Regional Safety Board and Central Fire Response Zone join forces for cross-border incident response in the port area
16:35 European shipowners support the uptake of clean fuels but fear FuelEU may become missed opportunity due to enforcement loopholes - ECSA
16:20 9M’2020 throughput of Taganrog Sea Commercial Port grew by 6% Y-o-Y
16:05 Fuelling the Industry: LNG as a fuel and its infrastructure at the 8th International Congress