• 2020 June 29 09:16

    MABUX: Bunker market this morning, June 29

    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 increased on Jun. 26:

    380 HSFO: USD/MT 287.99 (+1.92)
    VLSFO: USD/MT 344.00 (+3.00)
    MGO: USD/MT 419.12 (+0.06)


    Meantime, world oil indexes demonstrated downward changes on Jun. 26 on fears of more economic disruptions as Covid-19's rampage continues to devastate the United States and the world.

    Brent for August settlement decreased by $0.03 to $41.02 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for August fell by $0.23 to $38.49 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $2.53 to WTI. Gasoil for July delivery fell by $5.50.

    Today morning oil indexes continue to decline as coronavirus cases rose in the United States and other places, leading countries to resume partial lockdowns that could hurt fuel demand.

    The new wave of coronavirus infections across the U.S. casts a new shadow over the outlook for demand in California, Texas and Florida, three of the most economically important U.S. states. Those states represent three of the four biggest regional centers of demand for motor fuel. Texas and Florida were both forced to suspend their plans for reopening their state economies on Jun.25 as the level of new Covid-19 infections hit a record. The United States reported more than 41,000 new cases on Jun.25, the second consecutive day with a record total, with health officials saying the true national caseload was probably 10 times the official count. These come as more than 2.4 million Americans have already been infected, with the death toll breaching 123,000.

    Global coronavirus cases exceeded 10 million on Sunday as India and Brazil battled outbreaks of over 10,000 cases daily. New outbreaks are reported in countries including China, New Zealand and Australia, prompting governments to impose restrictions again.

    Despite efforts by OPEC+ to reduce supplies, crude inventories in the United States, the world's largest oil producer and consumer, have hit all-time highs. Moreover, the U.S. crude output was estimated at 11 million barrels per day for the week ended June 19, versus 10.5 million bpd in the previous week. It was the first rise in U.S. production in 13 weeks. According to Baker Hughes, the number of active rigs in the United States decreased by 1 to 265 this week, down by 702 year on year. The number of active oil rigs reduced by 1 to 188. At the same time, there are fears, that higher oil prices are prompting some producers to resume drilling.

    Elsewhere, U.S. shale oil pioneer Chesapeake Energy Corp filed for bankruptcy protection on Jun.28 as it bowed to heavy debts and the impact of coronavirus outbreak on energy markets.

    As China imported its highest-ever volume of crude oil in May, its imports from the world’s top oil exporter, Saudi Arabia, nearly doubled to the highest on record after fuel demand recovered and refiners purchased crude at bargain prices in April. Chinese imports of crude oil from Saudi Arabia surged by 94.9 percent on the year and by 71 percent on the month in May, to reach 2.16 million barrels per day (bpd). Total crude oil imports into China surged to an all-time high of 11.34 million bpd in May. China smashed its crude oil imports record as manufacturing activity picked up and lockdowns eased. But refiners also took advantage of the cheapest crude in years in April to snap up cargoes for delivery in the following months. China didn’t import any oil from Venezuela in May, according to its customs data, while shipments from Iran also plummeted as buyers are steering clear of U.S. sanctions. Yet, shipping data suggests that China continues to receive crude from Venezuela, mostly through ship-to-ship transfers.

    We expect bunker prices may slightly decline today: 1-3 USD down for IFO, 3-5 USD down for MGO.




2020 July 11

15:28 Cox Powertrain celebrates as first 300hp diesel outboards roll off the production line ready for delivery
14:51 WCI names Tracy R. Zea as President & CEO
13:45 NOS expands its fleet with two additional M-Class vessels
11:37 Huisman to deliver 250mt Knuckle Boom Crane and 500mt Towing Winch for Nanhai Rescue Bureau
10:52 Wabtec wins federal order for advanced marine engines on new multi-use ships

2020 July 10

19:08 CMA CGM announces FAK rates from Asia to the Mediterranean
18:30 CMA CGM announces FAK rates from Asia to North Europe
18:04 HHLA implements machine learning for the first time to increase productivity
18:01 Port of HaminaKotka throughput in 6M’2020 fell by 14.2% YoY
17:38 Information on the seaport of Murmansk changed in the Register of Russian Seaports
17:13 Thun Tankers takes delivery of the fifth L-class at China Merchants Jinling Shipyard
16:52 Russian Railways: Loading of export cargo bound for domestic ports up 3.3%
16:33 Valenciaport reaffirms its leadership as the first Spanish port at UNCTAD index
16:03 Port of Marseille to maintain €57 million in investments to stimulate the recovery
15:43 DNV GL launch support for new Dynamic Positioning system failure guideline enabling quicker and cost effective implementation
15:30 Volga Shipping Company delivered project cargo to the Caspian Sea
15:13 COVID-19 causes problems for implementing EU legislation - BIMCO
14:48 Throughput of Russian seaports in HI’2020 grew by 0.1% Y-o-Y
14:23 Wärtsilä simulator complex delivered to enhance operations at the Training and Education Office of the Indonesian National Police
14:03 Port of Oakland imports up 1.9 percent in June 2020
13:44 Onezhsky Shipyard delivers hybrid workboats Anatoly Klimov and Victor Vorotylo (video)
13:22 Governments of 12 countries pledge action for seafarers at crucial crew change summit
13:19 GTT receives an order from Hudong-Zhonghua Shipbuilding for the tank design of three new LNG carriers
13:01 Sredne-Nevsky Shipyard commenced making hull of yet another minesweeper of Project 12700, Aleksandrit
12:38 Throughput of Murmansk Sea Fishing Port fell by 12.7% in HI’2020
12:13 Nuclear-powered icebreakers of Rosatomflot assisted 462 ship calls in winter-spring navigation season
11:35 Construction commences on Austal's largest ever ferry
11:04 GIWACAF launches webinar series on oil spill preparedness and response
10:46 FSUE “Rosmorport” takes award-winning place in the annual sailing regatta
10:32 LR to develop structural digital twin for Bluewater FPSO Glas Dowr
10:22 Rosmorport changes tariffs on berth assignment services in Astrakhan and Olya seaports
09:59 Bunker prices are slightly up at the Port of Saint-Petersburg, Russia (graph)
09:37 Oil prices decrease amid concern over demand recovery rates
09:20 Baltic Dry Index as of July 9
09:11 MABUX: Bunker market this morning, July 10

2020 July 9

19:03 OOCL receives Gold Award from the HKAEE for the fourth time
18:10 Aquila Power Catamarans announce a luxuriously versatile new model
17:55 Tallink Grupp’s vessel Sailor to operate on Paldiski-Kapellskär Route from Sunday
17:31 Bunker prices are flat at the Far East ports of Russia (graph)
17:28 Port of Rotterdam to start trial with PIN-free container handling
17:18 Damen holds keel-laying for Port of Auckland’s fully electric RSD-E Tug 2513
17:12 Diana Shipping announces time charter contract for m/v Selina with ST Shipping
16:44 "K" Line participates in JV for FPSO owning and chartering business offshore Brazil
16:23 Jan De Nul Group has started offshore installation activities in Taiwan
16:06 Port of Liepaja throughput in 6M’2020 fell by 15.6% Y-o-Y
15:48 Russia remains in Paris MOU’s White List
15:24 PD Ports submit response to national Freeport consultation
15:03 Khabarovsk Territory Governor Sergey Furgal detained by officials of Russia’s Investigative Committee
14:39 Aibel awarded Oseberg portfolio agreement
13:47 Ukraine is still on Paris MOU’s Black List
13:22 MOL announces joint development of energy-saving rudder
12:50 Container shipments on Russian Railways’ network up 15% in 1H 2020
12:17 Cargo transhipment in North Sea Port falls by more than 11% in first half of year
12:07 ABB teams up with Yinson on offshore oil and gas project in Brazil
11:20 FPSO operators could save £15 million per asset on maintenance
10:42 The CMA CGM Group commits to fight illicit trafficking in protected species and tightens its shipment control procedures
10:10 Unifeeder contracts We4Sea for fleetwide vessel performance monitoring
09:38 MABUX: Bunker market this morning, July 09
09:29 Oil market sees mixed price movements
09:13 Baltic Dry Index as of July 8