• 2020 July 13 09:05

    MABUX: Bunker market this morning, July 13

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

    Oil prices climbed more than 2% on Friday after the International Energy Agency (IEA) bumped up its 2020 demand forecast but record-breaking new coronavirus cases in the United States tempered expectations for a fast recovery in fuel consumption.

    Prices also found support after data showed U.S. energy firms cut the number of oil and natural gas rigs operating to a record low for a 10th week in a row.
    Brent crude LCOc1 settled up 89 cents, or 2%, at $43.24 a barrel and U.S. oil CLc1 settled up 93 cents, or 2.4%, at $40.55 a barrel.

    A strong stock market also boosted oil prices. A slate of economic data, including a record monthly payrolls addition, pointed to a revival in U.S. business activity in June.
    U.S. crude was little changed on the week while Brent notched a weekly gain of about 1%.

    The Paris-based IEA raised its demand forecast to 92.1 million barrels per day (bpd), up 400,000 bpd from its outlook last month.

    “While the oil market has undoubtedly made progress ... the large, and in some countries, accelerating number of COVID-19 cases is a disturbing reminder that the pandemic is not under control,” the IEA said.

    Prices had dropped early in the session after Libya National Oil Corporation announced it had lifted its force majeure on all oil exports after a half-year blockade by eastern forces.

    “The expected re-start of Libyan exports will only add to the vulnerability of the OPEC+ production restraint in keeping the energy complex heavily reliant upon a renewed expansion in risk appetite for any advances back to around this week’s highs,” said Jim Ritterbusch, president of Ritterbusch and Associates.

    Oil inventories remain bloated due to the evaporation of demand for fuel during the initial outbreak.

    “If we take a bigger picture view of the market, what stands out to us is that we have not yet seen much of a decline on the global inventory front,” JBC said.

    Today oil slips as traders eye supply cut easing at OPEC meeting.

    Oil slipped in early Asian trade on Monday as traders eyed an OPEC technical meeting this week which is expected to recommend an easing in supply cuts that have been propping up crude prices.

    Oil prices have recovered sharply from multi-decade lows in April after the Organization of the Petroleum Exporting Countries and allies including Russia, a group known as OPEC+, cut output by a record 9.7 million barrels per day for three months since May.

    OPEC’s Joint Ministerial Monitoring Committee (JMMC) will meet on Tuesday and Wednesday to recommend the next level of cuts.
    OPEC and Russia were expected to ease their supply cuts as global oil demand has recovered and prices have bounced back.

    “The planned easing of OPEC+ production cuts next month ... and a potential rebound in U.S. production could add pressure on the supply side of the equation,” Stephen Innes, chief global markets strategist at AxiCorp said in a note.

    Oil Future close 10th July, 2020

     

    Brent crude:

    $ 43.24 (+0.89)/brl

    FM contract delivery Sep

    Light crude (WTI):

    $ 40.55 (+0.93)/brl

    FM contract delivery Aug

    Gasoil ARA;

    $ 369.75 (+5.25)/mton

    FM contract delivery Aug (New)

    NY Harbor Ulsd:

    $ 382.12 (+5.33)/mton

    FM contract delivery Aug

     

     

     

     

    The Oil Market is trading at GMT 05.25: Brent – 32 cents and WTI – 33 cents
    Expect Fuel Oil prices to increase by 5 – 6 usd/mton today. MGO and NY Harbor Ulsd up about the same as the Fuel Oil 5 – 6 usd/mton.

    Brent crude:

    $ 43.24 (+0.89)/brl

    FM contract delivery Sep

    Light crude (WTI):

    $ 40.55 (+0.93)/brl

    FM contract delivery Aug

    Gasoil ARA;

    $ 369.75 (+5.25)/mton

    FM contract delivery Aug (New)

    NY Harbor Ulsd:

    $ 382.12 (+5.33)/mton

    FM contract delivery Aug




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