• 2020 May 27 09:02

    MABUX: Bunker market this morning, May 27

    MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO (Gasoil) in the main world hubs) rose slightly on May 26:

    380 HSFO: USD/MT 261.95 (+4.03)
    VLSFO: USD/MT 300.00 (+3.00)
    MGO: USD/MT 370.31 (+6.17)


    Meantime, world oil indexes changed irregular on May 26, amid increasing confidence in the market that producers will to stick to commitments to cut crude supply while demand picks up with more cars back on the road.

    Brent for July settlement increased by $0.64 to $36.17 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for July delivery rose by $0.63 to $34.35 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $1.82 to WTI. Gasoil for June delivery lost $2.75.

    Today morning global oil indexes do not have any firm trend so far.

    Recovering demand as coronavirus lockdowns ease combined with output cuts by top producers could balance global oil markets as soon as June.

    Russia’s President Vladimir Putin has tasked the government with implementing a set of measures aimed at supporting the oil industry for the duration of the OPEC+ production cut agreement. The measures include a prescription not to sanction companies that stray outside their production quotas and a temporary lifting of penalties for state oil companies for not sticking to their 2020/2021 investment programs. The document also lists “special rates” to be implemented by pipeline operator Transneft and Russian Railways for transporting crude oil and oil products for the duration of the OPEC+ deal.

    According to Reuters calculations, Russia’s crude oil production—net of condensates—averaged 8.72 million bpd in the first twenty days of May. This is the largest production cut Russian producers have had to implement in decades, which is probably why the government is lending a hand to help them manage the situation. This situation will last until the end of June, after which the combined OPEC+ production cuts will be relaxed from 9.7 million bpd to 7.7 million bpd.

    A U.S. ban on new offshore drilling in the Gulf of Mexico, which presidential candidate Joe Biden promised to enact if elected, would lead to hundreds of thousands of job losses and billions in lost government revenue over 20 years. Biden has also said that moving away from fossil fuels would pave the way for big job gains in renewable energy. As per some analysis, if no new permits are issued, the offshore industry would have 179,000 jobs in 2040, less than half the 370,000 jobs it would be projected to support under current policies. Government revenues from the industry, meanwhile, would be $2.7 billion a year instead of $7 billion.

    The first of five tankers carrying Iranian fuel for gasoline-starved Venezuela reached the country’s waters during the weekend. Venezuela has a major gasoline shortage as refineries are unable to operate at run rates higher than 10 percent because of a shortage of diluents necessary for the production of fuels as well as an urgent need for repairs. Iran, a fellow target of U.S. sanctions, last month sent to Venezuela two plane loads of equipment and chemicals necessary for the production of gasoline as it agreed to help Caracas restart one refinery, with a capacity of 310,000 bpd. 14 more flights were scheduled to arrive from Iran to Venezuela.

    India’s fuel demand, which had crashed by 60 percent during the early days of its two-month lockdown, is set to reach pre-coronavirus levels in June. In May, demand for fuel in the world’s third-largest oil importer is back at 65 percent compared to May 2020. After the easing of the lockdown in India, two-wheelers and small cars will remain an affordable option for maintaining social distancing, thus boosting demand for gasoline. It is also expected, that the resumption of train service and flights will raise demand for diesel and jet fuel.

    Natural gas flows from Russia via the Yamal-Europe pipeline that runs across Belarus and Poland to Mallnow, Germany, slumped to zero on May 26 after a sharp decline since May 24. Shipments into Baumgarten in Austria, a major European hub for Russian gas, fell by 25% from its 10-day average. Such a significant reduction in gas transit is primarily driven by weak demand in Europe amid warm winter, high levels of gas in underground storage and demand distortion due to Covid-19. European gas storage sites are about 71% full and the expectations have been that inventories may be completely full by July.

    We expect global bunker prices may change irregular today in a range of plus-minus 2-5 USD.




2020 July 2

18:37 CMA CGM announces FAK rates from Asia to the Mediterranean
18:04 CMA CGM updates PSS for Reefer Cargo from North Europe, Scandinavia, Poland & Baltic, West Med & Adriatic to the Indian Subcontinent, Middle East Gulf & Red Sea
18:04 ClassNK releases Annual Report on Port State Control
17:52 Glavgosexpertiza approves expansion of access canal to Sabetta port
17:35 Royal Niestern Sander delivers the hydrographic survey vessel ‘Geo Ranger’ to Geo Plus B.V.
17:21 Oil shipments via CPC Marine Terminal in 6M’20 climbed by 2.2% YoY
17:04 Kongsberg Digital acquires Danish maritime software company COACH Solutions
16:55 Federal government waives the traffic dues for the Kiel Canal until 31.12.2020
16:45 Fincantieri subsidiary INSIS acquired a majority share in Support Logistic Services
16:23 Webinar “Pusher-tugs as a pivot of river transportation chain. Will we have them built?” slated for 8 July 2020
16:04 IPCSA launches the Network of Trusted Networks
15:42 Shipbuilding facility of Neptun CDB in Novaya Ladoga lays down two cruise ships of Project PV20S
15:20 New transshipment terminal soon to become operational at the Port of Gothenburg
15:04 250,000 m2 of rooftop solar panels to be installed in the port of Amsterdam by 2024
14:23 MABUX releases weekly review of global bunker market
14:03 Nippon Paint Marine completes the extensive re-coating of the 1911-built cargo ship
13:29 Cargo traffic within Azov-Don Basin of Russia’s IWWs fell by 5% in 6M’20
13:05 Premiere for Rolls-Royce's first MTU gas engines in new Doeksen ferry
12:44 Bunker prices are slightly up at the Far East ports of Russia (graph)
12:22 Rosmorport announced tender for construction of LNG transshipment facility in Kamchatka
12:00 APM Terminals introduces APIs to transform the next generation of terminal data
11:21 Russian Railways' network loading fell by 4.5% in 6M’ 2020
11:03 ECSA calls on the German Presidency to support a stronger European shipping industry
10:47 Bunker sales at Vladivostok port in 6M’2020 fell by 23% YoY
10:29 Damen Maaskant Shipyards Stellendam delivers trawler Jonge Johannes
10:24 Tallink Grupp makes strategic future investment and purchases ro-pax vessel Sailor
10:02 Oil prices continue rising
09:59 Yang Ming fulfills green promise carbon emission reduced 51% in 2019
09:45 Tallink Grupp adds more departures to Helsinki-Riga and Turku-Tallinn routes for August 2020
09:28 MABUX: Bunker market this morning, July 02
09:23 Inaugural meeting of the international advisory panel on maritime decarbonisation
09:18 Baltic Dry Index as of July 1

2020 July 1

16:18 COVID-19 dampens long-term energy demand and highlights scale of climate emergency
15:52 Konecranes receives order from Louisiana for two portal harbor cranes
14:26 Panama emphasises its support for seafarers' rights
13:43 DNV GL grants type approval for Aquarius UV / EC BWMS
12:36 ICS: Global shipping fleet to sound horns on 8 July to remind governments over need for urgent crew change
11:09 Aker Solutions awarded letter of intent for Askeladd Vest
10:33 MABUX: Bunker market this morning, July 01
10:09 Damen delivers custom RHIB to Naarden Lifeboat
09:37 GTT receives a new order from DSME for the design of two large Floating LNG Storage Units

2020 June 30

19:07 Wan Hai Lines to launch Taiwan to Vietnam and Thailand services coverage
18:37 Valenciaport joins the “World Aids to Navigation Day” with the lighting of its headlights
18:12 Third stage of "Sea Cup 2020" competition begins
18:07 BPA attempts to cut fine dust level in Busan Port by developing green equipment
18:02 Damen concludes keel laying on 75-metre crane barge for a project in Panama
17:50 Bunker prices decrease at the Port of Saint-Petersburg, Russia (graph)
17:46 Diana Shipping announces signing of a supplemental agreement with BNP Paribas and the sale of a Panamax dry bulk vessel
17:27 BIMCO publishes Covid-19 crew change clause
17:04 Artemis Technologies to build zero emissions ferries following £60M funding
16:41 Seven port projects to compete for ESPO Award 2020
16:25 BLRT Grupp shipped last sections of railway bridge to Stockholm
16:04 Port of Melbourne welcomes largest containercapacity ship to dock in Melbourne
15:46 Knyaz Vladimir submarine of RF Navy’s fleet went to the White Sea starting its first base-to-base passage
15:03 World's first full scale ammonia engine test - an important step towards carbon free shipping
14:48 Severnaya Verf to build four long-liners of 200101 design for NOREBO Group
14:12 Hapag-Lloyd announces GRI from North East Asia to Australia
13:58 MSC Cruises and Chantiers de l’Atlantique celebrate key construction milestone for LNG-propelled MSC World Europa
13:33 RS publishes autonomous vessel classification advisory
13:11 Port of Oakland Oks FY 2021 budget midst COVID-19 crisis