• 2020 July 2 09:28

    MABUX: Bunker market this morning, July 02

    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) rose slightly on July 01:

    380 HSFO: USD/MT 288.69 (+0.33)
    VLSFO: USD/MT 345.00 (+3.00)
    MGO: USD/MT 417.94 (+2.67)


    Meantime, world oil indexes also increased on Jul.01, following a drawdown in U.S. crude inventories from record highs and a string of positive manufacturing data.

    Brent for September settlement increased by $0.88 to $42.03 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for August delivery rose by $0.55 to $39.82 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $2.21 to WTI. Gasoil for July delivery gained $5.25 – $357.50.

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

    Crude oil inventories in the United States shed 7.2 million barrels in the week to June 26. Forecasts had expected an inventory decline of 710,000 barrels for the period, and the American Petroleum Institute had estimated a sizeable inventory draw, to the tune of 8.156 million barrels, the largest inventory draw so far this year. For the previous week, the EIA reported an inventory build, at 1.4 million barrels, after another moderate build, of 1.2 million bpd, for the week before. Oil inventories remain above the five-year average for this time of the year, but refinery runs for the past few weeks suggest demand for fuels is increasing, albeit slowly.

    Reuters poll shows oil prices are unlikely to jump too much this year despite the OPEC+ production cuts as the economic and oil demand recovery are set to pick up steam only in the fourth quarter. Meanwhile, a second wave of coronavirus cases could dampen the global economic and oil demand recovery if countries and U.S. states backtrack some of the eased measures. Still, it is difficult to justify significant upside in prices in the near term due to the high levels of inventory, continued weakness in refinery margins, and the fear over a severe second wave of Covid-19. Most probably the market will continue to consolidate around current levels.

    Sentiment was also boosted by improving economic data around the world. In China, the manufacturing purchasing managers’ index (PMI) showed factories slowly gathered steam in June after the government eased lockdowns. Germany’s manufacturing sector contracted at a slower pace in June, while French factory activity rebounded into growth. However, a surge in infections in the United States and warning from the government’s top infectious disease expert that the number could soon double is still the potential downward driver.

    The U.S. job-shedding in May and June had not been as severe as feared and bolstered confidence in the resilience of U.S. demand. Private payrolls processor ADP said the U.S. private sector added 2.369 million jobs last month. While that was below expectations, the company also sharply revised down its estimate of job losses in May, leaving the net job count, on balance, higher than assumed.

    It is expected, fuel demand in India, the world’s third-largest oil importer and third-largest oil consumer, is set to rebound to pre-crisis levels by the end of September. The statistics shows demand for gasoline, diesel, liquefied petroleum gas (LPG), and other commercial fuels is coming back to its normal level, while jet fuel demand continues to be a drag on overall demand – as it is everywhere in the world. As demand recovers, India’s refinery capacity utilization picked up in May to an average of 77 percent after India started to ease the nationwide lockdown. Refinery throughput increased by 11 percent in May compared to April.

    We expect 380 HSFO bunker prices may slightly rise by 3-5 USD today, VLSFO – add 4-6 USD, MGO prices may gain 3-5 USD.




2020 August 3

18:43 CMA CGM announces Peak Season Surcharge rates from North Europe to Indian Subcontinent
18:06 Total seven-month cargo traffic in Azov-Don basin in Jan-Jul down 6%
17:55 Inmarsat, Thetius and Shell Shipping and Maritime launch 'Crew Welfare Open Innovation Challenge'
17:25 The PV300 MS Mustai Karim leaves Krasnoye Sormovo Shipyard basin, sets sail for St. Petersburg
16:42 Spot market price for Russian M100 product ended week higher
16:06 Russian Gov’t approves regulation on crab boats construction incentives
15:32 Kalmar delivers four medium and heavy forklifts to support Yizheng Port in meeting safety and environmental requirements
15:26 RZD seven-month loaded freight down 4.4%
14:18 Ust-Luga Company wins the Ust-Luga Cup 2020
13:24 Borr Drilling Limited enters into a new contract and LOIs for three rigs
13:08 Long-awaited project of Kalmykia’s Lagan Port becomes part of the federal transport territorial planning
12:46 MSC Cruises and Palumbo Group form joint venture to operate the Palumbo Malta Shipyard
12:23 OHT wins contract for transport and installation of foundations at Dogger Bank
12:20 RZD to resume traffic via new rail bridge across the Kola as of October 1
11:46 Eagle Bulk reports the successful resolution of security incident onboard vessel
11:10 Buyan-class corvette Grayvoron departs for Novorossiysk sea trials base
09:48 Crude futures prices edge down
09:41 MABUX: Bunker market this morning, Aug 03
09:16 Baltic Dry Index as of July 31

2020 August 2

16:03 Kirby Corporation announces 2Q, 2020 Results
15:31 Bollinger delivers second of three USCG FRCs to be home-ported in Guam
14:37 Dennis de Bruin appointed Managing Director of Commercial Shipping Europe
13:52 ABS supports global offshore wind development with updated guidance
12:35 USCG sets port condition Zulu for Ports of Miami and Key West
11:24 Tony Goldsmith announced as new head of marine at law firm Hill Dickinson as David Wareing steps down
10:52 Sea Machines partners with Maine Maritime Academy & MARAD to include intelligent vessel systems in curriculum

2020 August 1

14:21 U.S. appoints coordinator for the Arctic Region
13:14 CMA CGM announces GRR for Asia-West Africa trade
12:44 Polarcus awarded 3D project in Asia Pacific
11:31 Pacific Basin announces 2020 interim results
10:53 EBRD supports decarbonisation of energy sector in Cyprus

2020 July 31

18:26 Fincantieri BOD approves 1H 2020 results
18:07 Vostochnaya Verf to launch 03141-series first crab catcher in autumn 2020
17:36 Holland America Line changes name of newbuild to Iconic Rotterdam and designates it the new flagship
17:07 October Revolution Shipyard rolls out small seiner for a Kamchatka fishing company
17:06 Alfa Lift signs contract for transport and installation of foundations at Dogger Bank
16:44 Ship recycling in Bangladesh leaps forward with third phase of key project signed
16:05 Cox production diesel outboards make their way to North America
15:36 Port of Vancouver USA receives longest wind blades ever
14:42 USCG medevacs mariner 35 miles offshore Freeport, Texas
13:44 OOCL announces new China Indonesia Philippines service
13:39 Construction of A45-90.2 series passenger ship duo kicked off at SNSZ Shipyard
12:45 Petrotrans accepts delivery of third dry cargo ship of Project RSD59
12:10 McNetiq launches new magnetic anchors for fall protection
11:09 CMA CGM announces rates from China to Middle East Gulf
10:00 DP World Komatipoort becomes the first dry port east of Gauteng
09:46 Baltic Dry Index as of July 30
09:32 Crude futures prices climb
09:08 EMSA and ECDC issue guidance in response to COVID-19 challenges
08:51 Bunker Market this morning, 31st July, 2020
08:46 Australia bans bulk carrier TW Hamburg for wage exploitation

2020 July 30

18:24 DP World volumes down 3.9% in 1H2020
18:04 $300 billion T&L industry is still in infancy of digital transformation - Lux Research
17:43 Port of San Diego establishes Foreign Trade Zone at Tenth Avenue Marine Terminal
17:23 Association of River Ports and Ship Owners celebrates its 25th anniversary
16:04 Russia should join the Nairobi Convention – Transport Ministry
16:03 Aimo Park Finland selected to build customer-centric parking at Helsinki harbours
15:25 APM Terminals first to launch fully digital export management system in Russia
15:04 Russian Gov’t to regulate determining evaluation costs of domestically built ships
14:17 MABUX Weekly Viewpoint