• 2020 May 29 09:17

    MABUX: Bunker market this morning, May 29

    MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO (Gasoil) in the main world hubs) fell slightly on May 28:

    380 HSFO: USD/MT 254.08 (-6.34)
    VLSFO: USD/MT 295.00 (-5.00)
    MGO: USD/MT 371.18 (-1.26)


    Meantime, world oil indexes in turn changed irregular on May 28, on signs U.S. gasoline demand is rising despite a big surprise build in crude inventories.

    Brent for July settlement increased by $0.55 to $35.29 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for July delivery rose by $0.90 to $33.71 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $1.58 to WTI. Gasoil for June delivery lost $5.75.

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

    U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 7.9 million barrels from the previous week. At 534.4 million barrels, U.S. crude oil inventories are about 13% above the five-year average for this time of year. This compares with an inventory draw of 5 million barrels a week earlier and analyst expectations for a draw of 2.5 million barrels. Gasoline stockpiles fell unexpectedly, but refiners boosted output.

    Morgan Stanley expects Brent crude to trade at $40 a barrel by the end of the year thanks to the recovery in demand, which has taken off faster than the Bank expected. The Bank also expects that thanks to production cuts in OPEC and outside it, the oil market could swing into an undersupply in the last quarter of the year, to persist during the first quarter of 2021 as well. The size of the supply shortage would be about 4 to 6 million bpd.

    Prices have rebounded strongly this month, as the Organization of the Petroleum Exporting Countries and producers including Russia, a grouping referred to as OPEC+, cut their output by nearly 10 million barrels per day in May and then also June. Saudi Arabia and some other OPEC oil producers are also considering extending these record output cuts until the end of 2020, in the lead-up to its June 9 meeting, but doubts remain over Russia’s support given its desperate need for capital in the wake of the damage done to its economy in the wake of the coronavirus outbreak.

    According to the latest analysis, China’s oil demand will recover to 13 million barrels per day (b/d) in Q2 2020, a 16.3% jump compared to Q1 this year. However, comparing year-on-year (YoY), Q2 2020 demand is about 2.5% below Q2 2019. The pace of recovery differs among oil products. China’s demand for gasoline and diesel are expected to increase YoY from Q3 2020 onwards. Overall, China’s oil demand is expected to rise a modest 2.3% to 13.6 million b/d for H2 2020, compared to H2 2019.

    In the meantime, China’s low-sulphur marine fuel exports rose by a third in April compared with March to the highest level yet after it waived export taxes for domestic refiners to meet shipping demand. Chinese refiners began exporting in January very low sulphur fuel oil (VLSFO) with a maximum sulphur content of 0.5% to comply with emission rules for ships from the International Maritime Organization. April exports of the ship fuel reached nearly 1.43 million tonnes, up from 1.07 million tonnes in March and just below a combined 1.56 million tonnes for the first two months. Exports in the first four months reached just over 4 million tonnes, the data showed. Marine fuel export data has been collected by tracking Chinese refiners’ bunker sales from bonded storage at major Chinese ports, such as Zhoushan and Qingdao in east China and Dalian in the northeast.

    Two U.S. senators said they could draft further sanctions on Russia's Nord Stream 2 natural gas pipeline if Moscow finishes laying pipes for the project. U.S. sanctions legislation in December halted work by Swiss-Dutch company Allseas on the pipeline that aims to boost Russia's gas exports under the Baltic Sea to Germany. Now a Russian pipe-laying vessel aims to finish the remaining 100 miles (160 km) of the project, led by state gas company Gazprom. The pipeline, aimed at bypassing Ukraine, could be launched by the end of 2020 or early next year.

    The government of Ukraine approved on May 27 a plan to import liquefied natural gas (LNG) from the United States. Under the memorandum approved by the government, Ukraine will be importing at least 5.5 billion cubic meters of LNG annually, while the seller will be Louisiana Natural Gas Exports Inc. Besides, Ukraine and Poland, which also seeks diversified energy supplies, signed in August last year a trilateral memorandum of cooperation with the United States to enhance the regional security of natural gas supply.

    We expect IFO bunker prices may gain 3-7 USD today while MGO may lose 5-12 USD.




2020 July 4

15:01 APL announces storage arrangements for China reefer imports
14:39 MAN to supply compression technology for offshore gas production
13:28 Naval Group selected iXblue to supply navigation systems for Gowind-class vessels
12:33 USCG halts illegal charter, rescues 2 on disabled jet ski near Venetian Causeway Bridge
11:04 DNV GL: Ports can be the front runners of the energy transition, if port authorities and industry sectors join forces

2020 July 3

18:37 DistriRail adds its rail schedules to the Port of Rotterdam Authority’s Navigate tool
18:07 ClassNK releases amendments to class rules
17:44 Possibilities of digital transformation of military shipbuilding to be discussed at "ARMY-2020" forum
17:05 ECSA welcomes study on social aspects within the maritime transport sector
16:50 Rosmorrechflot warns about Russia’s risk to move from White to Grey list of Paris MoU
16:24 11 major international companies join forces to accelerate the energy transition in transport and logistics
15:48 Hydrographic Company and MRTS sign contract on construction of Utrenny terminal facilities
15:10 CMA CGM announces rates from Asia to Red Sea
14:43 ABP publishes its Annual Review 2020
14:10 Port of Savannah’s Ocean Terminal takes delivery of two mobile harbor cranes
13:12 Alfa Laval wins SEK 130 million offshore order in China
12:26 Throughput of port Azov in 6M’2020 fell by 15% YoY
12:01 ICS launches Guidance for Engine Room Safety
11:47 North-Western Shipping Company merges into Volga-Fleet
11:15 CMA CGM announces FAK rates from Asia to North Europe
10:59 Finnlines announces bunker surcharge for Malmö-Travemünde-Malmö
10:13 Ocean Yield takes delivery of newcastlemax dry bulk newbuilding
10:12 GTT and Zvezda Shipbuilding Complex sign a Technical Assistance and License Agreement for the construction of LNG carriers incorporating membrane tank systems
09:52 Bunker prices changed slightly at the Port of Saint-Petersburg, Russia (graph)
09:34 Baltic Dry Index as of July 2
09:20 MABUX: Bunker market this morning, July 03
09:16 Oil prices start decreasing
09:09 Baleària presents a proposal for the construction and operation of the new passenger terminal in the Port of Valencia

2020 July 2

18:37 CMA CGM announces FAK rates from Asia to the Mediterranean
18:04 ClassNK releases Annual Report on Port State Control
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
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