• 2020 August 3 09:41

    MABUX: Bunker market this morning, Aug 03

    MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO (Gasoil) in the main world hubs decreased on July 31:

    380 HSFO: USD/MT 301.30 (-1.82)
    VLSFO: USD/MT 358.00 (-3.00)
    MGO: USD/MT 437.83 (-4.86)


    Meantime, world oil indexes demonstrated slight upward changes on July, 31 after data from oilfield services firm Baker Hughes showed the small fall in the number of U.S. oil rigs.

    Brent for September settlement increased by $0.36 to $43.30 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for September rose by $0.35 to $40.27 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $3.03 to WTI. Gasoil for August delivery added $4.75.

    Today morning oil indexes fall on oversupply concerns as OPEC and its allies wind back production cuts in August and a rise in worldwide COVID-19 cases points to a slower pick-up in fuel demand.

    There are worries about oversupply as the OPEC+ is due to start reducing production cuts this month, adding about 1.5 million bpd to global supply and a recovery in oil prices from record lows is likely to encourage U.S. shale producers to ramp up output. However, fuel demand has yet to recover due to the COVID-19 pandemic, which is affecting oil prices.

    Oil output by the OPEC rose by over 1 million barrels a day in July as Saudi Arabia and other Gulf members ended their voluntary extra supply curbs on top of an OPEC-led deal. The 13-member OPEC pumped 23.32 million bpd on average in June, up 970,000 bpd from June’s revised figure, which was the lowest since 1991. Russia's oil output in July was unchanged from June levels - level of compliance with the deal in July stood at 99%.

    After three consecutive months of raising its crude oil prices, the world’s largest oil exporter, Saudi Arabia, is widely expected to make the first cut to its official selling prices (OSPs) since the OPEC+ group started their record production cuts to prop up the market and prices amid crashing demand. Oil refiners and traders in Asia largely expect the Saudi oil giant Aramco to cut the price of its crude oil going to Asia in September as faltering oil demand recovery is depressing refining margins and weakening the Middle East oil benchmarks against which the producers in the Gulf set their prices for Asia.

    U.S. energy firms kept the number of oil and natural gas rigs unchanged at a record low as the rig count fell for a fifth straight month, although July marked the smallest monthly decline. The number of U.S. oil rigs fell by 1 to 180 last week.

    At the same time, fears over a resurgence in the coronavirus cases are weighing on the market. An easing of lockdowns and lower supply have helped oil climb above $40 from April’s 21-year low of below $16 a barrel. The Australian state of Victoria declared a state of disaster and authorities in the Philippines said they would impose fresh restrictions in Manila this week, reflecting worries around the world about getting the pandemic under control. In the U.S., one of the largest oil consumers, California, recorded an increase in confirmed COVID-19 cases of more than the 14-day average on Sunday.

    We expect bunker prices may demonstrate slight upward changes today:  1-3 USD up for IFO, 3-5 USD up for MGO.




2020 September 25

18:07 Tripartite agreement signed on establishing the FSRU terminal in the Bay of Gdansk
17:55 Baltic Fuel Company shipped first batch of bitumen
17:39 Scorpio Bulkers announces purchase of shares by Scorpio Services
17:34 Vessel “Razul Rza” sent to outer waters after the repair works
17:12 Metal Shark debuts 48-meter catamaran expedition vessel and introduces "Metal Shark Yachts" portfolio
16:51 Ningbo Containerized Freight Index rises significantly in September
16:19 OOCL's service update for Trans-Pacific trade
16:16 Representative office of Marinet opened in China
15:27 GTT signs a contract with the U.S. Dep't of Defense for the Red Hill Bulk Fuel Storage Facility
14:59 RFC held the second stage of the ecological marathon
14:31 Bunker prices are flat in the Port of Saint-Petersburg, Russia (graph)
14:05 Zvezda shipyard to build 10 gas tankers for Arctic LNG 2
13:42 Wärtsilä solutions meet challenging needs of Canadian Coast Guard vessel
13:18 Nuclear-powered container carrier Sevmorput delivered Kamchatka fish to Saint-Petersburg
12:56 Competition for construction of two scientific research ships for Russian Federal Fisheries Agency to be announced in October
12:34 Royal Niestern Sander orders SCHOTTEL thrusters for world’s first shallow-draught ice-breaking W2W vessel
12:11 VEB.RF starts financing construction of ten gas tankers for Arctic LNG 2 project
11:29 LR awards Samsung Heavy Industries AiP for its ammonia-fuelled tanker
10:37 British Ports Association sets out spending review priorities
10:29 New state programme on Arctic development in 2021-2024 drafted by Russia’s ad hoc Ministry
09:53 Debt service guarantees on Yamal LNG removed from NOVATEK
09:30 Oil prices rise in hope of demand
09:12 Baltic Dry Index as of September 24
09:11 MABUX: Bunker market this morning, Sept 25

2020 September 24

18:37 Kongsberg Digital develops cloud-based simulators for maritime industry, with funds from Innovation Norway
18:07 Wärtsilä ranked first in UN challenge to fight climate change with big data
17:45 Alco Bio Fuel, Messer Benelux and IJsfabriek Strombeek once again invest in recycling CO2 in North Sea Port
17:20 World’s first subsea compression system passes five years in operation
17:12 Esben Poulsson reappointed as ICS Chairman for a new term
16:48 Okskaya Shipyard launches first multipurpose dry cargo carrier of Project RSD59 for Astrol
16:24 Severnaya Verf starts cutting steel for seventh trawler of Project 170701 for NOREBO Group
15:50 ASCO's vessel “Razul Rza” sent to outer waters after repairs
15:26 Russian Direct Investment Fund (RDIF) to invest in Sovcomflot, says RDIF CEO
15:02 Diana Shipping announces the sale of a Capesize Dry bulk vessel
14:39 Russian Railways launches regular multimodal service from China to Europe via the ports of Kaliningrad and Hamburg
14:17 MABUX releases its weekly review of bunker market
14:02 Fincantieri starts dry dock works for experimental vessel Zeus
13:40 Freeport of Riga Authority signs Declaration of Cooperation with Port of Shenzhen
13:21 IMO celebrates World Maritime Day 2020
13:08 Total and MOL officially name the world’s largest LNG bunker vessel
12:48 Bunker prices decrease in the Far East ports of Russia (graph)
12:25 ZIM launches new China-Australia Express Line
12:11 Inmarsat Fleet Lte service coverage extended to Gulf of Mexico following successful trials with V.Ships Offshore
11:32 Ships of RF Navy’s Black Sea Fleet take part in "Kavkaz-2020" maneuvers
11:14 Port of Trelleborg offers their shipping customers reliable and fast internet with Nowhere Networks
11:13 "Tatarstan" missile ship of RF Navy’s Caspian Flotilla involved in "Kavkaz-2020" maneuvers
10:09 CTI-Maritec receives DNV GL approval for ballast water testing
09:57 Muuga freight station of Rail Baltica is to be designed by SWECO Projekt AS
09:36 MPC Container Ships ASA announces appointment of new CFO
09:29 Oil prices decrease amid concern over demand/supply imbalance
09:11 Baltic Dry Index as of September 23
08:40 MABUX: Bunker market this morning, Sept 24

2020 September 23

18:15 HMM opens Fleet Control Centre
17:35 Stena develops a solution to use recycled batteries in charging stations at port
17:05 Philippine Ports Authority COVID-19 Molecular Testing Center for seafarers now operational
16:42 British Ports responds to reasonable worst-case scenario Brexit assumptions
16:17 Vestdavit wins contract to supply six Australian Navy patrol boats
16:03 ABB powers P&O super-ferries towards new sustainable transport era
15:43 Royal Niestern Sander orders SCHOTTEL thrusters for world’s first shallow-draught ice-breaking walk-to-work vessel
15:25 FESCO’s Board of Directors elected new Management Board