• 2020 August 13 10:14

    MABUX: Bunker market this morning, Aug 13

    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 demonstrated slight irregular changes on Aug. 12:

    380 HSFO: USD/MT 305.69 (-0.70)
    VLSFO: USD/MT 364.00 (0.00)
    MGO: USD/MT 445.27 (+1.51)


    Meantime, world oil indexes demonstrated increased on Aug. 12 after an industry report showed U.S. crude inventories last week fell more than expected, bolstering hopes that fuel demand in the world's biggest economy can outlive the coronavirus pandemic.

    Brent for October settlement increased by $0.93 to $45.43 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for September rose by $1.06 to $42.67 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $2.76 to WTI. Gasoil for September delivery added $2.25.

    Today morning oil indexes slide down.

    According to the Energy Information Administration (EIA), U.S. crude oil, gasoline and distillate inventories fell last week as refiners ramped up production and demand improved. Crude inventories fell by 4.5 million barrels, compared to expectations for a 2.9 million-barrel drop. That's less than the 7.4 million barrel draw seen last week but that happened as the numbers could understated actual demand from end users: as much as over 2 million barrels of crude was shifted from the Strategic Petroleum Reserve to commercial stocks last week.

    U.S. fuel demand rose to 19.37 million barrels per day last week, the highest since March, while crude output fell to 10.7 million barrels per day (bpd) from 11 million bpd. Gasoline demand climbed back to where it was just before the coronavirus forced people inside, while U.S. refineries raised operating rates to above 80% for the first time since March.

    The EIA's downward revision on Aug.11 to a key U.S. oil production forecast for this year also supported prices. U.S. crude production is forecast to fall by 990,000 bpd this year to 11.26 million bpd, steeper than the 600,000 bpd decline it forecast last month. EIA raised its 2021 outlook for US production by 130,000 b/d to an average 11.14 million b/d, with production rising slowly but steadily to end the year at 11.5 million b/d.

    Capping gains, the OPEC said in a monthly report that world oil demand will fall by 9.06 million bpd this year, more than the 8.95 million bpd decline expected a month ago. Demand in 2021 is expected to rise by 7 million barrels a day, unchanged from its July forecast. At the same time, it also expects global supply from outside OPEC to increase between now and the year-end.

    Increasing uncertainty over a stalemate in Washington on a stimulus package to support recovery from the deepest impact of the coronavirus pandemic also weigh on prices. Republican and Democratic negotiators heaped blame on each other on Wednesday, with Republicans refusing to negotiate their initial $1 trillion offer.

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




2020 September 21

12:22 Towing of seagoing tugboat Andrey Stepanov along Northern Sea Route completed
12:01 Fincantieri launches the first patrol vessel for Qatar
11:00 BeHydro dual-fuel hydrogen engine awarded Approval in Principle by LR
10:39 Remote audits discussed to avoid further disruption to audit schedule
10:02 Philippine Ports Authority launches COVID-19 contact tracing system for all port users, community
09:41 Oil prices are slightly up
09:23 MABUX: Bunker market this morning, Sep 21
09:08 Baltic Dry Index as of September 18

2020 September 20

16:27 Innovative vacuum cleaner removes plastic from nature reserve in the port of Antwerp
15:33 Master and chief engineer plead guilty in MV Funing case
14:07 World’s largest LNG bunkering vessel arrives in Rotterdam
12:38 Austal Australia delivers 7th GCPB
11:14 ABS to class another four VLEC for Zhejiang Satellite Petrochemical
10:49 MBZ and Boluda Towage Europe ink the 5-year concession agreement for providing sustainable towage service in the Port of Zeebrugge

2020 September 19

15:04 Vroon to recycle three PSVs
14:11 Limited openings at Erasmus Bridge for tall vessels
13:46 The construction of Finnnline's second hybrid ro-ro vessel started
12:33 USCG offloads estimated $216 million of cocaine, marijuana at Port Everglades
11:17 New Maritime Minister visits Port of Southampton

2020 September 18

18:53 Russian ports switch to unified digital platform for daily scheduling of vessels layout and traffic
18:17 KR issues world’s first cyber security class notation to HHI for very large LPG carriers
17:59 Rosmorport takes part in TRANSTEC International Transport Corridors Forum
17:37 Land purchase in Saint Petersburg: new service center for SCHOTTEL in Russia
17:26 Start-ups invited to enter competition to win £75,000 grant to develop innovate port technology
17:11 New high-speed passenger ship put into operation in Yamal-Nenets Autonomous District
17:06 SEACOR Marine forms new Sustainability Council to lead enhanced ESG program
16:51 District awards $15.4 million contract to dredge Freeport Lower Stauffer Reach channel
16:48 DP World and Dubai Customs to assess opportunities to develop trade links between UAE and Israel
16:30 Gazprom Nedra and Marine Rescue Service test SeaDrone MG in Arctic conditions
16:09 SG-STAR Fund: First global tripartite initiative to support countries for crew change
16:02 IUMI raises concerns over increased accumulation risk for yachts and inland vessels
15:43 USCG releases new plan to protect global maritime security
15:08 CMA CGM informs of revised port charges in Ghana
14:51 Bunker prices are stable at the Port of Saint-Petersburg, Russia (graph)
14:24 Goods traffic between North Sea Port and hinterland by inland waterways continues to increase
14:07 Vostochny Port installs four more dust capturing units
13:10 Last jackets to leave Dubai and head for the Moray East offshore wind farm
12:53 Admiralteiskie Verfi shipyard starts assembling major equipment on two trawlers for RFC
12:22 Reconstruction of Klaipeda Seaport breakwaters to increase competitiveness of economy in Lithuania
12:01 Kalmar to support DP World’s continuing expansion at Caucedo with new terminal tractors and empty container handlers
11:03 Naming ceremony held for Japan’s first LNG bunkering vessel
10:48 BIMCO introduces new PIs and KPIs to help improve performance
10:16 ECSA publishes study on implications of EU ETS for shipping
10:10 Keel laying of Tallink’s newest vessel MyStar takes place in Rauma shipyard, Finland
09:54 Port of Oakland import volume up for third straight month
09:51 MABUX: Bunker market this morning, Sept 16
09:47 Tallink Grupp’s vessel Baltic Queen arrives in Riga for the first time
09:23 Oil prices rise after a recent decrease
09:09 Baltic Dry Index as of September 17

2020 September 17

18:05 Digital Twin Ready certification awarded to Furuno
17:54 Damen launches Marine Aggregate Dredger for Hanson
17:52 Verifavia launches industry’s first “3-Way Plug & Play” dashboard
17:41 Nord Star officially listed as first resident of RF Arctic Zone
17:30 ITF and IMEC contribute US$500,000 to the Singapore Shipping Tripartite Alliance Resilience
17:06 Azerbaijan State Marine Academy offers skills development and advanced training courses for ASCO employees
16:43 Ship banned in Australia for AUD $118,000 in unpaid crew wages
16:15 COVID-19 is negatively impacting the offshore energy insurance sector, but market is beginning to harden, says IUMI
16:00 Gasum secures contract with Celsa Armeringsstål AS including LNG deliveries and new terminal
15:42 Diana Shipping announces the sale of a Panamax dry bulk vessel
15:28 FESCO launches regular intermodal service for seafood delivery from Far East to China