• 2020 May 22 10:27

    MABUX: Bunker market this morning, May, 22

    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 continued upward trend on May, 21:

    380 HSFO - USD/MT - 256.20 (+7.12)

    VLSFO - USD/MT – 301.00 (+9.00)

    MGO - USD/MT – 368.79 (+7.66)

    Meantime, world oil indexes demonstrated slight irregular changes on May, 21.

    Brent for July settlement increased by $0.31 to $36.06 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for July rose by $0.43 to $33.92 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $2.14 to WTI. Gasoil for June delivery declined by $3.00.

    Today morning oil indexes decrease after China's decision to omit an economic growth target for 2020 renewed concerns that the fallout from the coronavirus pandemic will continue to depress fuel demand in the world's second-largest oil user.

    China's National People's Congress (NPC) kicked off a week-long meeting on May,22 with the government saying it omitted the 2020 target, while pledging to issue 1 trillion yuan ($140 billion) of special treasury bonds to support companies and regions hit by the pandemic. Abandoning the growth target can point to putting less focus on infrastructure investment and could be viewed as negative for oil.

    At the same time, the fuel demand is recovering as countries ease business and social restrictions imposed to counter the coronavirus pandemic. Gasoline demand is returning with traffic congestion in some of the world's capitals recovering to year-earlier levels after the lifting of coronavirus. Traffic flows in Berlin and Tokyo have rebounded, according to the data, while in the United States the easing of restrictions in many states has supported demand for gasoline. The upcoming Memorial Day holiday weekend typically kicks off the U.S. summer driving season.

    U.S. drillers are in the process of cutting 1.75 million barrels a day of existing production by early June. That’s on top of OPEC+’s agreement to curb almost 10 million barrels a day of output, which is being strictly adhered to after taking effect at the start of May. The cuts are eroding the stockpiles built up amid coronavirus lockdowns and the price war, with inventories at the U.S. storage hub at Cushing, Oklahoma, shrinking by the most on record last week. Meanwhile, demand in China, the world’s biggest crude importer, is almost back to pre-virus levels, while economic activity is starting to recover in parts of Europe and North America.

    However, crude oil demand in India will take longer to recover than many hope for as the country braces for the worst recession in its history after a two-month lockdown. The demand for the commodity might take until the end of the year to return to pre-crisis levels after last month, fuel demand at one point dropped by as much as 70 percent. Still, most of the demand will return before the end of the year.

    At the same time, despite the low oil demand during the COVID-19 outbreak in China, the world’s top oil importer is set to increase its crude oil imports by 2 percent in 2020. China’s apparent crude oil consumption is expected to increase by between 1 percent and 2 percent year on year. However, demand for refined oil products in China is forecast to record its first drop in two decades, as it is expected to fall by 5 percent this year compared to last year.

    According to Goldman Sachs Group Inc, The oil industry will enter a structural phase of no production growth outside of OPEC starting next year. OPEC may be required to supply as much as an additional 7 million barrels a day through to 2025 from pre-virus levels, while U.S. shale will emerge from the current slump as a lower growth and more cash generative industry.

    We expect bunker prices may demonstrate irregular changes today: 1-3 USD up for IFO, 1-3 USD down for MGO.


2020 June 5

18:21 Mezhregiontruboprovodstroy appointed as sole contractor for construction of Utrenny terminal
18:05 CMA CGM announces FAK rates from Europe to Indian Ocean Islands
17:35 Teesport welcomes largest containership
17:05 EUROGATE Intermodal appoints Christopher Beplat as a new managing director
16:50 Russian Railways: Loading of export cargo bound for domestic ports up 6.4% in May 2020
16:35 DNV GL performs over twenty remote wind turbine inspections globally in times of COVID-19 related-travel restrictions
16:05 Gasum performs first LNG bunkering to Heerema’s Sleipnir
15:28 Acquisition and recapitalisation of Royal IHC finalised
14:18 First of two Austal's 118 metre trimarans for Fred. Olsen completes sea trials in Australia
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