• 2020 April 2 09:46

    MABUX: Bunker market this morning, Apr 02

    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 April 01:

    380 HSFO: USD/MT 241.83 (-1.84)
    VLSFO: USD/MT 301.00 (-7.00)
    MGO: USD/MT 391.52 (-6.50)


    Meantime, world oil indexes demonstrated irregular changes on Apr. 01 as the coronavirus crushes demand amid a price war that has flooded the market with extra supply and shows no signs of ending

    Brent for June settlement increased by $2.00 to $24.74 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for May declined by $0.17 to $20.31 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $4.43 to WTI. Gasoil for April delivery fell by $21.00.

    Today morning oil indexes increase after U.S. President Donald Trump said he expected Saudi Arabia and Russia to reach a deal soon to end their oil price war.

    Trump talked recently with the leaders of both Russia and Saudi Arabia and believed the two countries would make a deal to end their price war within a "few days" - lowering production and bringing prices back up. He also said he would be meeting with oil executives, where he is expected to discuss a range of options to help the industry amid the sharp hit to demand as the coronavirus outbreak has hammered industrial activity and kept cars off the road.

    Speaking at a government meeting on Wednesday, Putin said that both oil producers and consumers should find a solution that would improve the "challenging" situation of global oil markets.

    The collapse in prices means global spending on oilfield equipment and services this year will fall 21% from 2019 to $211 billion, the lowest level since 2005. Still, there has been some upside from the collapse in prices as China has increased U.S. crude purchases with some buyers snapping up cargoes at the widest discounts ever as sellers seek to offload excess supplies in Asia. Cheap U.S. energy supplies will help China lower its import costs, but the deep discounts will add further pressure on U.S. producers to shut in production.

    At the same time, the world's biggest oil and gas companies are cutting spending this year following a collapse in oil prices driven by a slump in. Cuts already announced by eight major oil companies, including Saudi Aramco and Royal Dutch Shell, come to a combined a drop of 20% from their initial spending plan. BP cut its 2020 spending plan by 25% and will reduce output from its U.S. shale oil and gas business. Exxon Mobil Corp said it would cut capital expenditure but has not given specific figures yet. Brazilian oil company Petrobras said it was dialing back short-term production, delaying a dividend payment and trimming its 2020 investment plan. Some say if the current crisis is prolonged, the spending cuts announced by major oil companies may not be enough to let them maintain dividends without adding to their already elevated levels of debt.

    Saudi Arabia raised production above 12 million barrels a day on Apr.01, following through on threats it made in recent weeks. That’s about two million barrels a day more than a month ago. Also weighing on prices, OPEC failed to agree on whether to meet this month for an emergency discussion on recent volatility in oil markets. This signaled a widening rift between members and reduced the likelihood of supply cuts in the near future.

    According the Energy Information Administration (EIA), stockpiles of U.S. crude climbed much more than expected last week, day, indicated that Covid-19-related demand destruction is being reflected in inventories. Oil inventories rose by 13.8 million barrels last week. That compared with expectations for a build of about 4 million barrels. That was the biggest build in three years.

    We expect bunker prices to change irregularly today: 8-10 USD up for IFO, 15-10 USD down for MGO.




2020 June 5

13:56 Rosmorrechflot announces new competition for construction of Bagayevsky hydrosystem
13:29 Zvezda Shipyard stars cutting steel for yet another Aframax tanker
13:01 Keppel enters into framework deed with Borr Drilling to defer scheduled delivery of rigs
12:01 Port of Rotterdam Authority decides to hold RFT for transport service along Container Exchange Route
11:47 Yevgeny Ditrikh takes helm of STLC Board of Directors
11:04 The second largest container vessels in the world, now has its “Socarrat”
10:41 Oil prices rise within $1
10:28 Marseille Maersk sets up new record for the port of Rotterdam
10:23 Training exercise held with rescuers of RF Navy’s Northern fleet to assist emergency ship in the Arctic
10:00 RF Navy's oceanographic research vessel Admiral Vladimirsky entered the North Sea
09:39 Bunker prices rise at the port of Saint-Petersburg, Russia
09:18 Baltic Dry Index on June 4
08:46 MABUX: Bunker market this morning, June 05

2020 June 4

18:20 Wärtsilä to supply Europe's most modern simulator for inland shipping training
18:02 Dutch innovative app trains 10,000 process industry workers in Singapore during Covid-19 lockdown
17:47 Singapore Maritime and Ports Authority issues guidelines for crew change
17:25 Gasum performs first LNG bunkering to Heerema’s Sleipnir
17:02 China Merchants Group's emergency working group of the prevention and control of COVID-19 holds 20th meeting
16:34 Throughput of port Vysotsk in 5M’2020 fell by 24.2% Y-o-Y
16:02 Diana Shipping announces time charter contract for m/v G. P. Zafirakis with Koch
15:41 NS Power's crew rescues two people in the Andaman Sea
15:23 RS Rules update: hybrid propulsion
15:02 Grimaldi boosts its Italy-Greece connections
14:32 DNV GL and ABB launch new MOU to advance marine digitalization with a remote signing ceremony
14:02 150 trapped eels rescued at the Port of Gothenburg
13:48 Bunker price are stable at the Far East ports of Russia (graph)
13:31 MSC Mediterranean Shipping Company extends the seasonal blanking programme on its Asia–Europe network
13:01 Wärtsilä offers new remote service to overcome Covid-19 travel restrictions
12:31 DEME to build the Scheldt tunnel
12:03 Havyard presents new design concept for zero-emission sightseeing vessels
11:45 Annual throughput of Murmansk Transport Hub to be raised to 100 million tonnes
11:23 Construction of automated gate complex commences at APM Terminals Aarhus
11:10 Port of Zeebrugge joins the International Port Community Systems Association
10:58 Jiangnan Shipyard and Gabadi teams complete construction of the first LNG tank as part of an LNG-fuelled container ship project
10:57 AS Tallink Grupp Statistics for May 2020
10:33 More departures added for Helsinki-Tallinn route vessel Star from 4 June 2020
10:11 Oil prices go down by 1.48%-2.06%
10:00 CMA CGM cancels Low Sulphur Surcharge from July 1st, 2020
09:52 Russia’s leading shipping companies suggest development of ATB services by the USA example
09:40 PIER71 launches Smart Port Challenge 2020 with New Venture Capital Partners for maritime tech start-ups investments
09:36 MABUX: Bunker market this morning, June 04
09:14 Baltic Dry Index on June 3

2020 June 3

18:25 Russia's Main Department of State Expertise approves construction of operational water area under Obskiy LNG project
18:03 Cargotec’s Kalmar and MacGregor to help drive development of connected automated waterborne transport through participation in AEGIS project
17:46 Rosmorport announced tender to reconstruct coastal facilities of Vanino-Kholmsk ferry service
17:24 RF Government approved allocation of RUB 60.5 billion for Russian Railways’ BAM and Transsib projects in 2020
17:02 THE Alliance announces COVID-19 response measures for July, August and September 2020
16:35 Russian Railways CEO says railway link with Murmansk to be restored by June 23
16:11 Transport route to link Quy Nhon Port with Northeast Asia
15:49 Rosatomflot completed escorting Vladimir Voronin gas carrier along the Northern Sea Route
15:33 Fincantieri and ENI extend an agreement in the field of circular economy and decarbonisation
15:01 Austal announces CEO transition
14:33 HHLA handles world’s largest container ship at Burchardkai
14:11 Key players develop emission-free navigation solution for barges
13:32 The CMA CGM Group heads towards carbon neutrality by 2050
13:26 Bunker sales at Vladivostok port in 5M’2020 fell by 27% YoY
13:01 APM Terminals Mobile gains another distribution center
12:31 CMA CGM announces GRR from Asia to East Africa
12:01 Savannah harbor deepening sets precedent with four dredges working simultaneously
11:30 Abu Dhabi Ports launches “SAFEEN FEEDERS” shipping service in response to growing regional and global trade