• 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.




2020 June 5

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
11:00 EIZO secures LR type approval for maritime monitors via remote survey
10:30 Cargotec completes the ownership change of joint venture in China
10:09 Associations call for accelerating digitalisation of maritime trade and logistics