• Home
  • News
  • MABUX: Bunker market this morning, May 27
  • 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.




2021 October 17

16:28 Revenue Cutter Bear located, ending decades-long mystery
15:19 Port Everglades new Heron Garage touts solar power, moving walkway
14:38 JAXPORT welcomes passenger vessel Ocean Explorer for port-of-call visit
13:27 Canadian fishing company chooses Skipsteknisk design
12:11 Mayflower Wind signs agreement with Gladding-Hearn for design/build of hybrid electric offshore wind crew transfer vessel
11:03 USCG commissions fast response cutter Emlen Tunnell

2021 October 16

12:38 MYCRANE signs MoU with Swiss-based EPCM, PESCO Switzerland AG
10:19 Star Pride delivered at the Fincantieri shipyard in Palermo
09:37 Three zero-emission harbour tugs mark Corvus Energy’s 500th project order
08:16 Rolls-Royce launches mtu hydrogen solutions for power generation

2021 October 15

18:27 Sea Machines uses biofuel to power tug Nellie Bly on long-haul autonomous journey
18:07 Dublin Port Company to open €48m Dublin Inland Port
17:53 Danfoss Editron powering the first fast crew supply vessel able to compete with helicopter transfers
17:33 Tsawwassen First Nation and the Vancouver Fraser Port Authority sign renewed Relationship Agreement
17:09 Sevmash completed manufacturing of sections for offshore ice-resistant fixed platform LSP "A"
16:40 Global Ports Holding positions Kalundborg as an alternative to Copenhagen
16:33 Duisburg Rail Terminal welcomed the one millionth unit since it started the operations in 2013
15:13 Klaveness Combination Carriers signs a Letter of Intent with Shipshave AS to implement its semi-autonomous hull cleaning solution across its fleet
14:31 Wärtsilä next generation navigation simulator to power the Centre of Excellence in Maritime Safety in Singapore
14:09 Coral Consortium working on a water drone to regularly monitor water quality in the basins of the Port of Gdańsk
13:53 Port of San Diego adopts most ambitious maritime clean air strategy of its kind in California
13:22 LNGnews.RU supports 5th LNG Fleet, LNG Bunkering and Alternatives conference as its Media Partner
13:02 A.P. Moller - Maersk enters strategic partnership with Danish Crown on global end-to-end logistics
12:36 GTT is selected by Hyundai Heavy Industries to equip the tanks of two new LNG-fueled container vessels with its membrane containment technology and smart shipping solutions
11:47 Russian-Chinese joint naval exercise is underway in the Sea of Japan
11:23 Transneft Kozmino Port starts construction of maintenance site for servicing mariculture site
10:08 MABUX: Bunker prices may continue slight upward changes on Oct.15
10:02 Port of Long Beach has second-busiest September
09:56 Port of Oakland’s Danny Wan heads statewide port group
09:51 Rosneft sells 5% in Vostok Oil to a consortium of Vitol and MME
09:32 Crude oil prices rise driven by demand growth
09:19 Baltic Dry Index as of October 14

2021 October 14

18:05 MOL, SoftBank and e5 Lab start joint studies for next-generation maritime high-speed satellite communications
17:54 Glavgosexpertiza approves construction of tank for light oil products at IPP terminal in Novorossiysk
17:35 Sembo secures $12m investment from Stena Line
17:15 Jan De Nul signs T&I contract for Gode Wind 3 & Borkum Riffgrund 3
16:52 Singapore Maritime Institute to support next phase of maritime R&D activities with funding and partnerships
16:15 ABS and Kongsberg Digital join forces to power maritime digitalization and decarbonization
15:58 Petersburg Oil Terminal handled 6.9 million tonnes of oil products in 9M’21, down 1% YoY
15:41 Topsoe puts demonstration plant into operation for production of sustainable Methanol from biogas
15:25 MABUX: Bunker Weekly Outlook, Week 41, 2021
15:24 Scandlines prepares sister ferry M/V Berlin for installation of Norsepower Rotor Sail
15:04 AET completes its first ever LNG bunkering in the US
14:53 Gazprom and Russian Government sign agreement of intent on hydrogen energy
14:31 Solstad Offshore, Aker Solutions and DeepOcean create offshore renewables alliance
14:11 Maersk invests in Vertoro to develop green lignin marine fuels
13:59 Joint Sea 2021 Russian-Chinese naval exercise starts in Sea of Japan
13:34 ABB to turbocharge first ME-GA engines as MAN ES opens new route to sustainable sailing for gas carriers
13:10 BC Ferries' sixth Island Class ferry departs Romania bound for B.C.
13:01 Sea Terminal “Tuloma” obtains permit for construction of dry bulk cargo terminal in Murmansk
12:32 New NIC-place Data Lake maximizes value of business logistics data using customized Big Data analytics
12:10 Valaris Drillship achieves ABS Enhanced Electrical System Notation in world first
11:41 Nor-Shipping expects ‘fundamental shift’ in industry focus post COP26
11:05 Maersk Tankers uses vessels’ “digital twin” to slash emissions
10:34 7th Annual East Africa Transport & Infrastructure conference to be held on 15-16 November 2021 in Ethiopia
10:12 BTP Terminal in Brazil goes live remotely with CyberLogitec’s OPUS Terminal
09:53 MABUX: Still no firm trend on Global bunker market on Oct.14
09:30 Crude oil prices rise driven by OPEC output forecast
09:15 Baltic Dry Index as of October 13

2021 October 13

18:17 Portsmouth International Port sets course for shore power