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  • 2020 September 14 09:38

    MABUX: Bunker market this morning, Sept 14

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

    MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO (Gasoil) in the main world hubs) declined on September 11:

    380 HSFO: USD/MT 288.39 (-2.88)
    VLSFO: USD/MT 332.00 (0.00)
    MGO: USD/MT 407.65 (-2.15)


    Meantime, world oil indexes demonstrated slight irregular changes on Sep.11 amid signs of a growing imbalance between supply and demand as the world economy struggles to return to pre-pandemic levels of activity.

    Brent for November settlement decreased by $0.23 to $39.83 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for October rose by $0.03 to $37.33 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $2.50 to WTI. Gasoil for October delivery added $1.25.

    Today morning oil indexes increase as a tropical storm in the Gulf of Mexico forced rigs to shut down.

    Tropical Storm Sally gained in strength in the Gulf of Mexico west of Florida on Sunday and was poised to become a category 2 hurricane. The storm is disrupting oil production for the second time in less than a month after hurricane Laura swept through the region. Typically oil rises when production is shut but with the coronavirus pandemic getting worse demand concerns are to the fore, while global supplies continue to rise.

    At the same time, Baker Hughes reported on Sep.11 that the number of oil rigs in the United States fell by 1 to 180. The total number of active oil and gas rigs decreased for the last week by 2, with oil rigs falling by 1 and gas rigs falling by 1. Total oil and gas rigs in the United States are now down by 632 compared to this time last year.

    The U.S. government confirmed that crude stockpiles snapped a streak of six straight weekly declines.  Inventories rose 2.03 million barrels last week, in contrast to expectations of a draw of 1.34 million barrels. In six previous weeks, the EIA had reported a total crude drawdown of more than 38 million barrels.

    Moreover, Energy Information Administration’s report showed U.S. supplies of refined products to the domestic market were down 11% last week from their average of the last five years. At the same time, the EIA raised output estimates for U.S. crude by 300,000 barrels per day to 10 million bpd, accounting for the redeployment of production platforms on the Gulf Coast that were preemptively shut during last month’s Hurricane Laura.

    The major traders such as Trafigura, Royal Dutch Shell, Vitol and others had all resorted to booking tankers to use as floating storage, a tactic often used to avoid dumping sport cargoes at depressed levels. Trafigura has chartered 12 very large crude carriers (VLCC), which can collectively hold 24 million barrels of oil. BP is said to have provisionally booked a supertanker to hold oil in floating storage offshore Malaysia. The demand made day rates for supertankers have tripled in a week.

    The United Arab Emirates (UAE), currently OPEC’s third-largest producer, is estimated to have exported a lot more crude oil in August as it produced more than its quota under the OPEC+ deal, undermining the oil market’s faith in the group’s unity in the cuts. Crude oil production in the UAE averaged 2.693 million barrels per day (bpd) in August. This is some 100,000 bpd above the country’s production ceiling under the OPEC+ pact—2.59 million bpd. The key reason for the increased production in the UAE in August was said to be the high electricity demand in the hottest months in the Middle East, which this year was further boosted by more people staying and vacationing at home because of COVID-19-related travel restrictions.

    Meanwhile, Libyan commander Khalifa Haftar on Saturday committed to ending a blockade of oil facilities that has been in place since January. The lifting of the blockade could add further oversupply pressure to the market, but Haftar’s statement did not specify whether oil fields and ports would also recommence operations.

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




2021 October 19

18:24 Ocean Yield ASA sells two LR2 tankers
17:44 Klaveness Combination Carriers sells a 21-years old CABU vessel
17:22 Oboronlogistics delivers cargo for the construction of a cultural cluster in Kaliningrad
16:58 North Sea Port, Zeeland Regional Safety Board and Central Fire Response Zone join forces for cross-border incident response in the port area
16:35 European shipowners support the uptake of clean fuels but fear FuelEU may become missed opportunity due to enforcement loopholes - ECSA
16:20 9M’2020 throughput of Taganrog Sea Commercial Port grew by 6% Y-o-Y
16:05 Fuelling the Industry: LNG as a fuel and its infrastructure at the 8th International Congress
16:04 Empire Offshore Wind selects Vestas as its preferred supplier for wind turbine generators for Empire Wind I and Empire Wind II
15:41 The decarbonization strategy likely is now the best business strategy for shipowners - ABS
15:13 Bollinger celebrates commissioning of 45th Fast Response Cutter USCGC Emlen Tunnel
14:51 RF Government and Rosatom instructed to organize regular transportation of transit cargo by NSR
14:30 Port of Rotterdam throughput rises substantially again in Q3 2021
14:03 Valenciaport throughput up 8.33% to 63.46 mln tonnes in Jan-Sept 2021
14:02 Ice restrictions in Port of Sabetta basin to be effective as of Oct 25
13:39 TGE Marine announces the successful gas trail of LNG bunker vessel ´Dmitry Mendeleev´
13:08 Port of Antwerp throughput up by 4.8% to 179.1% mln tonnes in Jan-Sept 2021
12:54 Cargo traffic via Khabarovsk Territory ports rose by 3% in 9M’21
12:33 Vitol’s V-Bunkers receives green ship awards from Maritime Port Authority of Singapore
12:15 The Methanol Institute welcomes the European Union’s package of proposals Fit for 55
11:36 Volga Shipping announces completion of three tankers conversion project
10:46 MABUX: Bunker prices may demonstrate multidirectional changes on Oct 19
10:11 Russian Gas Society supports 5th LNG Fleet, LNG Bunkering and Alternatives conference
10:09 Berenberg expands debt fund portfolio with two new multi-investor funds
09:46 Baltic Dry Index as of October 18
09:25 Crude oil prices rise on crisis anticipation
09:13 Roxtec selects Sustainable Marine Fuels

2021 October 18

18:07 OneOcean Group brings voyage optimisation solutions to Marlink Partner Programme
17:53 NOVATEK held its first Arctic LNG Projects Shipowners Conference
17:49 MOL tabletop drill prepares for serious marine accident
17:29 Over 40 ships and boats of RF Navy's Black Sea Fleet took part in large-scale exercise at Opuk training ground in Crimea
16:52 Icebreaker Kapitan Khlebnikov to help deliver new components for the Vostok Station in the Antarctic
16:16 Throughput of Russian seaports in 9M’2021 climbed by 1.7% (detalization)
15:48 Four industry focused educational institutions to take part in 5th LNG Fleet, LNG Bunkering and Alternatives conference
15:25 Baltiysky Zavod shipyard casts forth one-piece propeller for Project MR-50 product tanker
15:03 Nemport orders fleet of Konecranes Noell RTGs
14:13 Average spot market price for Russian M100 product rose to RUB 29,186 pmt
13:51 MOL, MAN ES and MES-M sign MoU aiming to order ammonia fueled main engine for ships
13:42 National Chamber of Engineers supports 5th LNG Fleet, LNG Bunkering and Alternatives conference as its Media Partner
13:00 Port of Ventspils throughput in January-September 2021 fell by 14% YoY
12:40 The Port of València will install a hydrogen supply station in January
12:36 Port of Helsinki throughput in January-September 2021 rose by 7.9% YoY
12:14 Port of HaminaKotka cargo turnover in 9M’2021 fell by 2.1%
11:29 Container throughput of Hong Kong port (China) in January-September 2021 rose by 0.1%
10:57 APM Terminals appoints new Head of Decarbonisation
10:48 Port of Liepaja throughput in 9M’2021 climbed by 8% Y-o-Y
10:25 Global Ports’ Consolidated Marine Container Throughput increased by 4.0% y-o-y in 9m 2021
09:53 MABUX: Bunker prices may rise on Oct 18
09:46 Northern Sea Route cargo traffic rose by 4.5%
09:29 Crude oil prices rise driven by roaring demand
09:13 Baltic Dry Index as of October 15

2021 October 17

16:28 Revenue Cutter Bear located, ending decades-long mystery
15:19 Port Everglades new Heron Garage touts solar power, moving walkway
14:38 JAXPORT welcomes passenger vessel Ocean Explorer for port-of-call visit
13:27 Canadian fishing company chooses Skipsteknisk design
12:11 Mayflower Wind signs agreement with Gladding-Hearn for design/build of hybrid electric offshore wind crew transfer vessel
11:03 USCG commissions fast response cutter Emlen Tunnell

2021 October 16

12:38 MYCRANE signs MoU with Swiss-based EPCM, PESCO Switzerland AG
10:19 Star Pride delivered at the Fincantieri shipyard in Palermo
09:37 Three zero-emission harbour tugs mark Corvus Energy’s 500th project order
08:16 Rolls-Royce launches mtu hydrogen solutions for power generation