• 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 1

18:37 KIZAD breaks ground on largest rest, refuelling facility in region
18:21 Christophe de Margerie completes eastbound transit of NSR two months earlier than usual
18:13 Tallink Grupp to reroute its vessel Isabelle to operate on the Paldiski-Kapellskär route from 7 June 2020
18:07 ZIM starts eCommerce Xpress
17:52 Tallink to provide weekly sailings to Mariehamn in June and July 2020
17:29 Tallink adds more departures and additional vessel to Tallinn-Helsinki route
17:05 CMA CGM has announced FAK rates from North Europe to Mexico East Coast, USEC and USGULF & USWC
16:48 Throughput of port Azov in 5M’2020 fell by 9% YoY
16:30 Speakers announced for webinar “River fleet of the USA and Europe. What is useful for us or how do they make profit?”
16:05 MV Barracuda makes the first switch from dry cargo to jet fuel
15:26 Oil shipments via CPC Marine Terminal in 5M’20 climbed by 8.3% YoY
15:01 CMA CGM announces FAK rates from the Mediterranean to USEC, USGULF, Mexico East Coast and Canada East Coast
14:57 CANDEN Marine Fuel Services joins Glander International Bunkering Group
14:55 Average wholesale prices for М-100 HFO rose to RUB 6,641 in RF spot market
14:33 Northern Sea Route cargo traffic in 5M’2020 rose by 2.95%
14:10 Bollinger Quick Repair takes delivery of new dry-dock – “MR. Eddie”
13:52 Shuttle tanker Mikhail Ulyanov loads 200th crude oil cargo for Prirazlomnoye project
13:10 Neptune Energy welcomes DEME as a partner in the PosHYdon offshore green hydrogen pilot
12:46 Russian Railways' network loading fell by 4.5% in 5M’ 2020
12:10 Tanger Med partners with the initiative of the largest world ports to guarantee the continuity of international supply chains
11:57 Vladimir Putin approved a list of instructions following a meeting on transport sector development
11:31 CMA CGM ends PSS for exports from East Russia
11:05 Van Oord develops Green loan framework
10:30 CMA CGM announces PSS for Reefer Exports from Europe to West Africa (Nigeria excepted)
10:03 Oil prices decrease by about $1
09:46 Royal IHC to deliver design package and key components for new TSHD of Weeks Marine
09:42 Shipbuilding and Ship Repair Yard named after Lenin launched crane ship built for RF Navy
09:20 Baltic Dry Index on May 29
08:39 MABUX: Bunker market this morning, June 1

2020 May 31

16:57 RINA: shareholders’ meeting approves the financial statement for 31 December 2019 and appoints a new Board of Directors
15:31 Board appoints non-executive director at V.Group
14:48 MM&P seeks help from Congress in battle to repatriate offshore crews
13:24 Svitzer A/S names new CEO
12:31 Subsea 7 announces cost reduction measures
10:52 Drydocks World begins second project for the Hollandse Kust Zuid Windfarm

2020 May 30

16:23 APL England master faces charges over shipping container loss
15:27 Xeneta Container Rates alert: continued global uncertainty hits rates, but worst fears yet to be realised
14:32 EC approves €600 million Finnish guarantee scheme to support maritime companies affected by the coronavirus outbreak
13:12 Bollinger Quick Repair takes delivery of new dry-dock “Mr. Eddie”
11:47 Sanmar and Svitzer deliver power and performance to Port of Sohar
10:58 Coast Guard Cutter James seizes 3,350 lbs of marijuana off Central American

2020 May 29

18:36 Port of Marseille Fos to constuct a new international ferry terminal
18:20 Sea Port of Saint-Petersburg boosts its infrastructure investments by 40%
18:06 PIL starts a new India Service - China India Express (CIX)
17:51 Petrotrans takes delivery of lead ship of Project RSD59
17:36 Rolls-Royce seals major contract covering complete MTU propulsion systems for Royal Navy Type 31 frigates
17:14 United Shipbuilding Corporation developed its own cargo ship design
17:06 ECSA welcomes TRAN opinion on future EU-UK partnership and urges rapid advancement of the talks in view of the looming deadline
16:15 Port Authorities pledging support to keep ports open during COVID-19 more than doubles within a month
15:52 Market of seaborne cargo transportation for wind farms is stable and expected to grow
15:46 Viking Line starts a passenger service from June 1
15:05 KiwiRail orders two new ferries
14:49 Admiral Makarov University introduced new GMDSS simulator class
14:05 Bollinger Shipyards delivers the USCGC MYRTLE HAZARD to the U.S. Coast Guard
13:41 Smart Delta Resources launches project to substantially reduce CO2 emissions in Scheldt-Delta region
13:09 Record engine powers world’s largest containership
12:48 Large amphibious ships of RF Navy's Black Sea Fleet conducted comprehensive exercise in sea training ground
12:30 Navigation season opens on Upper Lena and Lower Lena rivers
12:09 Global shipping body addresses the health concerns of seafarers during the COVID-19 pandemic
11:26 Vimpel Shipyard launches coast guard boat Lamantin of river-going design