• 2020 June 25 10:37

    MABUX: Bunker market this morning, June 25

    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 Jun. 24:

    380 HSFO - USD/MT - 292.11 (-1.49)

    VLSFO - USD/MT – 348.00 (-2.00)

    MGO - USD/MT – 427.21 (-0.29)

    Meantime, world oil indexes also demonstrated downward changes on Jun. 24 as worries about the second wave of the coronavirus pandemic outweighed support from a gradual reopening of global economies.

    Brent for August settlement decreased by $2.32 to $40.31 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for August fell by $2.36 to $38.01 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $2.30 to WTI. Gasoil for July delivery fell by $22.00.

    Today morning oil indexes continue to decline weighed down by record high U.S. crude inventories and worries that a rapid resurgence in COVID-19 cases could choke a revival in fuel demand.

    Worries about the second wave of COVID-19 cases in several U.S. states, where lockdowns had eased, and a rapid spread of infections in South America and South Asia are expected to keep a lid on fuel demand. At the same time there is a fear, that even if lockdowns are eased, people will stay home because of the perceived health risks. In another reminder of fuel demand woes, Australia's flagship airline, Qantas Airways, said today it expected little revival in international travel until at least July 2021, as it slashed a fifth of its workforce and grounded 100 planes.

    Further pressure on prices came from a bigger-than-expected rise in U.S. crude inventories according to the Energy Information Administration. Moreover, crude oil production jumped last week for the first time since March. The U.S. government data showed crude stockpiles rose by 1.4 million barrels (more than the expected build of 299,000 barrels), driving inventories to a record high for a third straight week last week. That was mostly due to a flotilla of Saudi cargoes booked by U.S. refiners when prices slumped in March. Those shipments are due to ease soon. Crude oil stored at Cushing, Oklahoma, declined by 991,000 barrels.

    The government estimated that production for the week ended Jun.19 was 11 million barrels a day, up from the 10.5 million barrel daily production the prior week and the first hike since mid-March, just before the full effect of coronavirus lockdowns hit the U.S. economy. Back then, production hit a record 13.1 million barrels per day.

    As oil prices raised up to $40 a barrel following a pandemic-induced plunge, there’s a sense the shale industry is snapping back to life with Continental Resources Inc., EOG Resources Inc. and Parsley Energy Inc. all saying they’re restarting closed wells.

    Global oil demand has started to recover as economies emerge from lockdown, while the OPEC+ have slashed output and U.S. shale producers have shut wells. But global inventories are still bulging. India’s oil imports in May hit the lowest since October 2011 as refiners with brimming stores of crude cut purchases. China, the world’s top crude importer, is also expected to slow crude imports in the third quarter, after record purchases in recent months.

    We expect bunker prices may decline today: 10-15 USD down for IFO, 15-20 USD down for MGO.


2021 September 16

17:30 Construction of port Lavna kicked off in Murmansk Region
17:21 APM Terminals opens first “Fast Corridor” between Vado Ligure reefer terminal and inland customers in Italy
17:05 Wärtsilä cloud simulation now available on-demand via OTG’s Ocean Learning Platform
16:41 Evergreen’s Ever Ace with WinGD’s large bore X92 bore size engines crossed the Suez Canal
16:14 The new Port of Calais officially inaugurated after six years of construction
15:45 Southampton’s newest cruise terminal officially opened
15:35 Organizers of International Conference “Development of Icebreaking and Support Fleet“ offer the event programme
15:14 Dublin Port publishes Port Infrastructure Charges Pricing Strategy 2022 to 2026
14:53 Port of Oakland beef export volume up 25 percent in Jan - July 2021
14:37 UK ports welcome public support for clean maritime projects
14:26 IVECO and Nikola sign MoU with Hamburg Port Authority for zero-emission Class 8 battery-electric trucks
13:40 SMM Maritime Industry Report (MIR) shows industry on track for sustainability
13:16 MABUX: Bunker Weekly Outlook, Week 37, 2021
13:02 Port of Los Angeles cargo volume exceeds 954,000 TEU in August 2021
12:11 Sharrow Marine announces plans to roll out an exclusive OEM Sharrow Propeller™ Boatbuilder Program
11:47 TransContainer arranged transit transportation from Korea to Turkey via Far East and Novorossiysk ports
11:24 DOF Group announces new contracts in Brazil
11:02 Cargo-passenger ferry Pavel Leonov arrived at Korsakov, the ship’s homeport
10:38 Capacity of Vostochny Port’s multipurpose complex to be raised to 117,000 TEUs per year
10:21 Norwegian Ministry of Petroleum and Energy sees great interest in the Norwegian continental shelf
10:13 DFDS acquires ICT Logistics
09:49 Crude oil prices continue rising driven by data on reduction of reserves
09:30 Maersk acquires a Portuguese cloud-based logistics start-up HUUB
09:16 Baltic Dry Index as of September 15
09:15 MABUX: Global bunker prices may rise sharply on Sep 16
08:28 Castor Maritime announces new charter agreements

2021 September 15

18:43 Royal Phuket Marina’s inner-channel dredging project to deliver round-the-clock access for boats up to 35 metres
18:37 NJEDA and PSEG sign 78-year lease for the New Jersey Wind Port
18:17 PGS sets multiple acquisition records
17:55 Nefteflot lays down two ships of Project RDB 66.62
17:31 Subsea 7 awarded FEED contract in Norway
17:30 Gazpromneft Snabzheniye and Yamal-Nenets Autonomous Region to develop industrial and logistics park Obsky Prichal in Labytnangi
17:09 bp and NYK Line join forces to help decarbonise hard-to-abate sectors
16:57 SFL sells seven handysize bulk carriers
16:51 Yantar shipyard launches production of thermal and sound insulation
16:06 Sea Machines Robotics to embark on 1,000 nautical mile autonomous and remotely commanded journey around Denmark
14:34 Embracing digitalization will bring new opportunities and new discipline to cargo underwriting, says IUMI
14:02 Container ship FESCO Yanina joins the FESCO fleet
13:03 ICS issues new anti-COVID guidance
12:55 Evergreen Marine renews its 22-year LTSSP contract with KDI for another decade
12:49 SCF and Gazprom Neft join forces to facilitate decarbonisation and digitalisation in energy shipping
12:11 Options taken on additional Knutsen OAS LNG carriers results in three more Compact Reliq orders for Wärtsilä
11:37 PJSC TransContainer launches regular service from China to Rostov-on-Don via Nakhodka
11:15 Aker Solutions wins subsea FEED contract for NOA Fulla
10:58 Throughput of Kaliningrad port in 8M’2021 fell by 2% Y-o-Y
10:35 Throughput of port Vyborg in 8M’2021 rose by 46% Y-o-Y
10:13 Throughput of port Primorsk in 8M’2021 fell by 1% Y-o-Y
09:50 Throughput of port Vysotsk in 8M’2021 fell by 5% Y-o-Y
09:31 MABUX: Global bunker prices do not change and stay steady on Sep 15
09:29 Crude oil prices rise on reduction of reserves
09:14 Baltic Dry Index as of September 14
08:22 ABS launches industry-first simulation decarbonization service

2021 September 14

18:31 Loss prevention provides a ‘virtuous circle’ of returns, says IUMI
18:06 ABP and DB Cargo UK win the Rail Freight Group’s award for Customer Care
17:45 Port of Ust-Luga throughput in 8M’2021 rose by 3% Y-o-Y
17:26 AD Ports Group leased out over 2.2 million square metres of industrial land in H1 2021
17:06 DEME, Qair, and Aspiravi to bid into Scottish offshore wind leasing round
16:42 Average spot market price for Russian M100 product rose to RUB 24,458 pmt as of September 10
16:21 British Ports Association responds to Government Brexit borders announcement
15:56 Konecranes wins 14-crane order from thyssenkrupp Marine Systems for Kiel shipyard