• 2020 July 10 09:11

    MABUX: Bunker market this morning, July 10

    The Bunker Review was contributed by Marine Bunker Exchange (MABUX)

    Oil prices fell about $1 a barrel on Thursday as investors worried that renewed lockdowns to contain the spread of coronavirus in the United States would again sink fuel consumption.

    Brent crude LCOc1 futures fell 94 cents, or 2.2%, to settle at $42.35 a barrel, after gaining 0.5% on Wednesday. U.S. West Texas Intermediate (WTI) crude CLc1 futures fell $1.28, or 3.1%, to settle at $39.62 a barrel.

    The United States reported more than 60,000 new COVID-19 cases on Wednesday, the biggest increase reported by a country in a single day. Coronavirus cases have been on the rise in 42 of the 50 U.S. states over the past two weeks, according to a Reuters analysis.

    The renewed orders are likely to dent any sustained recovery in fuel demand. Data from the U.S. Energy Information Administration showed U.S. gasoline stockpiles fell by 4.8 million barrels last week, much more than analysts expected, as demand hit its highest level since March 20. [EIA/S]

    In storage hub Cushing, Oklahoma, crude stockpiles rose around 2 million barrels in the week to Tuesday, traders said, citing a Thursday report from Genscape.

    In India, fuel demand fell 7.9 percent in June compared with the same month last year, denting market sentiment further on Thursday.

    “The Indian demand numbers were disappointing,” said Phil Flynn, senior analyst at Price Futures Group in Chicago. “That didn’t fit the narrative we were hearing that India’s economy was bouncing back.”

    Still, futures have held around $40 a barrel and some analysts expect prices to hold in a range ahead of a meeting on July 15 of the market monitoring panel of the Organization of the Petroleum Exporting Countries (OPEC) and its allies.


    Today Friday oil prices fell, adding to steep losses from the previous session, and were headed for weekly declines on worries that renewed lockdowns following a surge in coronavirus cases in the United States and elsewhere would suppress fuel demand.

    Brent looks set for a weekly decline of nearly 2% and U.S. crude for a fall of more than 3%. Trading was quiet with Singapore on holiday for an election.

    While many analysts are expecting economies and fuel demand to bounce back from the pandemic, record daily increases in coronavirus infections in the United States, the world’s biggest oil consumer, raised concerns about the pace of any recovery.

    More than 60,500 new COVID-19 cases were reported in the United States on Thursday, setting a daily record, with Americans being told to take new precautions. The tally was also the highest daily count yet for any country since the pathogen emerged in China late last year.

    In Australia, the government on Friday will consider reducing the number of citizens allowed to return to the country from overseas, after authorities ordered a new lockdown of the country’s second-most populous city, Melbourne.

    Oil inventories also remain bloated due to the evaporation of demand for gasoline, diesel and other fuels during the initial outbreak.    

    U.S. crude oil inventories rose by nearly 6 million barrels last week after analysts had forecast a decline of just over half that figure.
    Oil Future close 9th July, 2020
     


     

    The Oil Market is trading at GMT 05.17: Brent -46 cents and WTI -54 cents
    We expect Fuel Oil prices to drop 6 – 8 usd/mton today. MGO and NY Harbor Ulsd down about 3 – 4 usd/mton.




2020 August 13

20:58 Rosmorrechflot promotes Stanislav Uryupin to Port of Novorossiysk Harbourmaster
18:31 Glavgosexpertiza gives nod to Sovetskaya Gavan LPG terminal project
18:06 Global Industry Alliance issues Just-In-Time Arrival Guide
17:36 HMM Rotterdam en route to Rotterdam
17:18 Ust-Luga Multipurpose Reloading Complex half-year cargo volume down 9% year-on-year
17:06 The operational situation in the port of Beirut is back to normal
16:48 TCSP Group half-year throughput grows 11.4%
16:31 Kalmar service expertise to enhance safety, performance and productivity on WWO’s American routes from Manzanillo International Terminal in Panama
16:12 CMA CGM announces PSS from North Europe (except France) to Australia & New Zealand
15:26 Minister for Regional Growth and Local Government opens multi million pound bulks terminal at Teesport
15:21 St. Petersburg set to create infrastructure for all-electric passenger vessels
14:39 First supply of bunker fuel by Gazpromneft Marine Bunker to the brand new cruise ship Mustai Karim
13:52 MABUX releases weekly review of global bunker market
13:21 VIKING delivers first of ambulance boat trio for Hellenic Coastguard
12:32 Grain exports via Krasnodar Krai based seaports in Jan-Jul jump 32%
12:14 Port of Oakland import cargo volume grew 6.4 percent in July
11:33 MacGregor receives EUR 18 million RoRo orders from Japan
10:52 Australia authorities issue fumigation requirements for the 2020/2021 high risk season
10:17 Sea Port of St. Petersburg half-year cargo volume rose 3%
10:14 MABUX: Bunker market this morning, Aug 13
09:52 Crude futures prices retreat
09:32 Baltic Dry Index as of Aug 12
08:26 ME-GI engine sails through sea trials

2020 August 12

18:57 Risavika LNG index for September up by 8.9 % week on week
18:27 Andreas Rieckhof new Chairman of Hamburg Messe und Congress GmbH Supervisory Board
18:08 At the three Hamburg container terminals throughput volume down 12.0 % in H1 2020
18:07 Sri Lanka Ports Authority assures safe handling of dangerous cargo under UN regulations
17:47 Rosmorport’s Azov-Black Sea branch adds TSHD Sommers to its fleet
17:43 Boluda Towage Europe takes on two new tugs from Damen Shipyards Group
16:49 Investors set to inject in excess of RUB 19 bn in federal port infrastructure facilities development
15:44 MoD eyes placing more orders for the Steregushchiy class corvettes with Amur Shipyard
15:17 Joint R&D Starts for Use of Ammonia in Marine Transportation to Reduce GHG Emissions
14:47 CMA CGM announces PSS from Asia to North Europe
14:21 MST wins contract for building 19m high-speed patrol craft duo for the Royal Navy
14:03 MOL issues an update on the Capesize bulker "Wakashio" aground off Mauritius
13:20 Port of Kiel constructs the new port apron
12:01 THE Alliance announces COVID-19 response measures for September 2020
11:57 Northern Sea Shipping acquires the MV Siyaniye Severa
10:36 LNG vessel completes 10,000th Neopanamax transit at the Panama Canal
10:02 Crude futures prices continue upward trend
09:32 Baltic Dry Index as of Aug 11
09:00 MABUX: Bunker market this morning, Aug 12

2020 August 11

18:07 Saigon Newport chooses Kalmar Essential Terminal Tractor for Cat Lai Terminal
17:43 Global Industry Alliance developes Just In Time Arrival Guide
17:36 Maersk Tankers hires Eva Birgitte Bisgaard as its new Chief Commercial Officer
17:00 CMA CGM announces PSS from Asia to North Europe
16:35 NORDEN adds 2 vessels to the existing newbuilding contract with NACKS
16:22 Murmansk Sea Fishing Port’s handled volumes in Jan-Jul dropped 12.7%
15:34 PETRONAS Research joins FASTsubsea’s subsea pump development
15:18 SCF Group's Igor Tonkovidov: Shipowners’ ability to compete with each other will be increasingly determined by their readiness to adopt advanced technologies
14:03 Houlder wins contract for Isle of Man Steam Packet Company’s new purpose-built vessel
13:39 IMO assists in MV Wakashio oil spill response
13:11 Cameron LNG Train 3 begins commercial operation
12:56 Seven-month crude exports via CPC Marine Terminal fell 1.4%
12:29 Port of St. Peterburg Captain releases new allowable drafts in Greater Port St.Petersburg basin
12:05 The Standard Club issues Guidelines for the use of electronic record books (ERBs) under MARPOL
11:08 Port of Ust-Luga based Multipurpose Reloading Complex steps up its efforts to protect the environment
11:04 Transhipment in North Sea Canal ports down by more than 10 percent due to coronavirus crisis
10:31 CSP Abu Dhabi Terminal launches new direct services to Europe and Indian Subcontinent
10:15 MABUX: Bunker market this morning, Aug 11