• 2020 April 8 09:53

    MABUX: Bunker market this morning, Apr 08

    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 decreased on April 07:

    380 HSFO: USD/MT 252.51 (-3.04)
    VLSFO: USD/MT 304.00 (-3.00)
    MGO: USD/MT 392.80 (-2.44)


    Meantime, world oil indexes demonstrated irregular changes on Apr. 07 amid concerns, that any production cuts will be enough to rescue a market facing a potential demand loss of 20 million to 30 million barrels per day due to the coronavirus pandemic.

    Brent for June settlement decreased by $1.18 to $31.87 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for May fell by $2.45 to $23.63 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $8.24 to WTI. Gasoil for April delivery added $4.25.

    Today morning oil indexes rise hopes that a meeting between OPEC members and allied producers on Apr.09 will trigger output cuts to shore up prices.

    Oil indexes were supported on initial optimism that OPEC+-G20 meetings later this week will take a total of 10 million bpd from the market. That would be the steepest coordinated production cuts in oil’s history and could include unprecedented participation from Brazil and Canada.

    Russia would like to cut a nominal 0.5-1 million bpd according to reports. At the same time, the U.S. says its production has already fallen by about 2 million bpd over the past month. President Donald Trump said OPEC had not pressed him at all in terms of production cuts. The Saudis haven’t officially committed to any volume of cuts yet. Some say, that the global coordinated production cuts that are really needed may be too large for the producers to accept; perhaps twice as large as the numbers being discussed.

    Russia confirmed its participation in the meeting of leading oil producers set for April 9, joining Saudi Arabia and the rest of the OPEC members. That's set to be followed on Apr.10 by a meeting of G20 energy ministers, which will include representatives of two other large producers outside the OPEC+ bloc, Canada and Brazil, in addition to the U.S.

    The official data released by the Energy Information Administration on Apr.07 forecasts, that U.S. crude oil production will average 11.8 million b/d in 2020 from the current weekly estimate 13 million bpd.

    Much will also depend on what role the U.S. plays in any potential production cuts. The OPEC+ group has been curtailing production in recent years while U.S. producers have increased their own output, resulting in the U.S. becoming the world's largest crude producer.

    According to the American Petroleum Institute, U.S. oil inventories jumped again last week by 11.9 million barrels this time. The strong rise is not surprising given the demand destruction seen from the Covid-19 pandemic. The Energy Information Administration will report official government figures tomorrow, with analysts looking for a rise of about 9.3 million barrels in crude inventories.

    We expect bunker prices to change irregularly today: 3-5 USD down for IFO, 2-4 USD up for MGO.




2024 April 16

18:04 HD KSOE attains 73% of annual order target in 100 days
17:31 Anglo-Eastern buys Euronav ship manager
17:06 Navig8 takes delivery of the second of six newbuild MRs with emission reducing technology
16:38 IMO’s Facilitation Committee tackles digitalization and autonomous shipping
16:12 World’s largest car carriers ordered with MAN Energy Solutions propulsion package
15:46 Hapag-Lloyd and Seaspan to retrofit five vessels to methanol propulsion
14:13 Asyad Shipping and OQ8 successfully complete first-of-its-kind blended crude oil delivery from Mina Al Fahal to Duqm Refinery
13:54 Hapag-Lloyd unveils its new Strategy 2030
13:14 Singapore aims for over 1 mln tons of low-carbon methanol bunker supply by 2030
12:43 Trafigura to commercially deploy Daphne Technology’s PureMetrics on LNG carrier for precise MRV and optimisation of GHG emissions
12:15 All 12 people rescued from fire on board Tanzanian-flagged cargo ship in Singapore waters
11:49 Drydocks World steel cutting ceremony marks start of UK Norfolk Vanguard Offshore Wind Platforms project
11:23 North Pacific Green Corridor Consortium aims to decarbonize transportation corridor between Canada, Japan and South Korea
10:48 Wartsila offers new high-performance thruster and propulsion control solution package
10:25 Port of Long Beach container volume up 8.3% to 654,082 TEUs in March 2024
09:58 Kalypso Offshore Energy signs LOI with Royal IHC

2024 April 15

18:04 Container shipping costs of S. Korea-EU route surge 40 pct amid Red Sea crisis
17:21 HMM to expand container ship fleet by 2030
17:09 Singapore retains its position as the world's leading maritime city
16:47 Iran says MSC Aries vessel seized for 'violating maritime laws'
16:24 ICTSI gets PPA OK to operate Iloilo Port
15:21 DEME’s offshore installation vessel ‘Orion’ successfully completes the near 15 MW turbine foundation installation project in Scotland and heads to US
14:55 Meriaura orders two biofuel powered 6750 DWT cargo vessels from Royal Bodewes shipyard
14:35 Methanol-fuelled MAN 21/31DF-M GenSet secures first propulsion order
13:32 Port of Valencia export freights grow by 2.13% in March 2024
12:48 Seatrium and Shell inks MOU to further collaborate on floating production systems
12:24 Seaspan launches second LNG bunkering vessel to deliver low-carbon energy solutions to the West Coast
11:57 Japan's 1st coastal module carrier to transport offshore wind turbine foundation components
10:36 EST-Floattech to provide the battery system for the purpose-built electric-landing utility vessel

2024 April 14

16:02 Shanghai's ship exports see considerable growth in Jan-Feb
14:13 Stena Drilling secures 1-well firm programme with Energean for Stena Forth in Morocco
12:07 GSBN: Lack of digital processes in shipping complicates decarbonization game
10:22 Panama Canal expects return to normal transit capacity by 2025

2024 April 13

15:04 Subsea7 awarded contract in the Gulf of Mexico
13:51 Shanghai Electric’s 'ZHI ZHEN 100' excels thorough offshore equipment test
11:18 WSC: Updated version released of “Prevention of Pest Contamination of Containers: Joint Industry Guidelines for the Cleaning of Containers”
09:43 Financiers and insurers ready to support electrification of the domestic harbour craft sector

2024 April 12

18:02 The first LNG bunkering operation performed at Klaipeda Port
17:32 Nexans announces keel laying ceremony for the CLV vessel
17:19 Arctia to map offshore wind farm area in Norway
17:17 SBM Offshore to construct and install FPSO Jaguar
16:46 OOIL's revenue decreases by 9% in Q1 2024
16:13 Wan Hai Lines holds ship naming ceremony for new vessels
14:45 Oil exports from Russia's Baltic ports set to rise 5% in April - Reuters
12:49 MABUX: Bunker Outlook, Week 15, 2024.
11:41 PaxOcean Group starts construction of the first all-electric tug and supply boat
11:27 MOL inaugurates the largest green hydrogen plant in Central and Eastern Europe
10:58 NYK set to achieve world's first truck-to-ship fuel ammonia bunkering

2024 April 11

18:03 INFODAS granted world’s first type approval for software-defined data diode
17:31 The Maritime and Port Authority of Singapore receives 19 proposals to support early adopters of electric port vessels
17:03 Japanese joint venture explores MAN B&W 60-bore ammonia engine for bulker
16:45 WTO forecasts rebound in global trade but warns of downside risks
16:02 Hitachi Zosen Corporation, MOL and Yanmar Power Technology achieve a 93.8% reduction in methane slip from LNG-powered vessels
15:42 MOL holds naming and launching ceremony for the 1st LNG-fueled ferry on Oarai-Tomakomai route
15:18 Bahamas port goes electric with Konecranes Gottwald Generation 6 Mobile Harbor Crane
14:45 Mediterranean shipwreck kills at least 8 migrants, dozens rescued
14:28 Siem Offshore announces sale of 9 vessels to majore shareholder
14:23 Russia begins diesel exports to Sudan, LSEG data shows
13:44 JSI Alliance completes scope in Basrah Refinery Upgrading Project
13:12 MITSUI to jointly develop ammonia fueled bulk carriers with five partners
12:32 Kongsberg Maritime to supply Promas propulsion systems for the USCG’s new OPC programme
10:54 CWS Airfin350 receives AiP from Bureau Veritas
10:22 Nesec contributes to the funding of maritime battery developer EST-Floattech
09:52 Finnlines launches new service between Malmo and Swinoujscie

2024 April 10

18:20 First companies confirmed for innovation hub NextGen Demo in the port of Antwerp-Bruges
17:01 ClassNK issues type approval certificate for CBM management software developed by Samsung Heavy Industries
16:40 DNV awards AIP to HMD for new ammonia-powered LPG carrier designs
16:09 Kongsberg to provide maritime surveillance services to Norway
14:42 NYK completes basic design process using only 3D drawings for new oceangoing vessel
14:26 Japan's 1st hydrogen and bio fuel hybrid passenger ship 'Hanaria' starts service in Kitakyushu