• 2020 August 11 10:15

    MABUX: Bunker market this morning, Aug 11

    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 decreased on Aug. 10:

    380 HSFO: USD/MT 303.70 (-2.17)
    VLSFO: USD/MT 361.00 (-2.00)
    MGO: USD/MT 441.23 (-0.21)


    Meantime, world oil indexes demonstrated irregular changes on Aug. 10.

    Brent for October settlement increased by $0.59 to $44.99 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for September rose by $0.72 to $41.94 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $3.05 to WTI. Gasoil for August delivery lost $1.25.

    Today morning oil indexes increase underpinned by expectations of U.S. stimulus and a rebound in Asian demand as economies reopen.

    U.S. lawmakers continued negotiations on the massive virus relief economic package with Treasury Secretary Steven Mnuchin saying there are areas where compromise is possible and a fair deal could be agreed upon. Prices found support after U.S. President Donald Trump tweeted that top congressional Democrats wanted to meet with him on coronavirus-related economic relief. The talks between Democrats and the Trump administration broke down last week.

    A weaker U.S. dollar also helped support higher oil prices. After steadying on Aug.10 the dollar was again slipping today, easing 0.1% against a basket of currencies and falling further against riskier currencies like the Australian dollar.

    Meanwhile, a recovery in the U.S. is seeing some momentum: new Covid-19 cases have declined by the most since the start of the pandemic and applications for unemployment benefits dropped to a pandemic low.

    In a sign of recovering consumption, the quantity of commercial flights around the world rose almost 6% in the seven days to Sunday, according to FlightRadar24 data. The average number of 67,000 planes in the sky was still far below the more than 100,000 pre-Covid. U.S. passenger airline traffic, which was hit hard by the coronavirus pandemic, was down 80% in June from a year earlier, official figures showed, but still nearly twice the levels of May.

    At the same time, energy companies have begun taking back millions of barrels of oil from the U.S. government's emergency stockpile after renting storage in the facility to help manage a glut of crude this spring after energy demand collapsed during COVID-19 lockdowns.

    Sentiment was also boosted by comments from Saudi Aramco that demand is improving. On Aug.09, Saudi Arabian Aramco CEO Amin Nasser said he sees oil demand rebounding in Asia as economies gradually open up. China's factory deflation eased in July, driven by a rise in global oil prices and as industrial activity climbed back towards pre-coronavirus levels, adding to signs of recovery in the world's second-largest economy.

    Meanwhile, China’s consumer price index (CPI) rose 2.7% in July from a year earlier, according to data from the National Bureau of Statistics released on Aug.10, suggesting economic activity is picking up. In another sign of recovery, the producer price index (PPI) fell 2.4% from a year earlier, a smaller drop than the 3% fall recorded in June. Both numbers suggest economic activity is picking up in the second largest economy in the world.

    We expect bunker prices may demonstrate slight irregular changes today: 1-3 USD up for IFO and 1-3 USD down for MGO.




2020 September 26

15:52 Port Freeport enters partnership with CEMEX Servicios Logisticos and Union Pacific Railroad
14:32 Coast Guard rescue two mariners from disabled catamaran near Oahu
13:43 NAT orders two -2- Suezmax newbuildings in South Korea
12:38 JAXPORT CEO Green named one of Florida’s top business leaders for third year in a row
12:06 Northwest to Midwest: New rail service builds on NWSA’s intermodal growth
11:02 IUMI: Loss prevention remains a vital element in ensuring the insurability of maritime risk
10:53 Huntington Ingalls Industries breaks ground on unmanned systems center of excellence

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