• 2020 September 15 09:25

    MABUX: Bunker market this morning, Sept 15

    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) did not have firm trend and changed irregular on Sep.14:

    380 HSFO: USD/MT 288.55 (+0.16)
    VLSFO: USD/MT 331.00 (-1.00)
    MGO: USD/MT 406.67 (-0.98)


    Meantime, world oil indexes dropped on Sep.14 amid concerns about a stalled global economic recovery and falling fuel demand.

    Brent for November settlement fell by $0.22 to $39.61 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for October delivery decreased by $0.07 to $37.26 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $2.35 to WTI. Gasoil for October delivery lost $4.25 – $319.75.

    This morning, global oil indexes do not have any firm trend so far.

    Tropical storm Sally moved over the north-central Gulf of Mexico on Sep.14 before becoming a hurricane as it heads toward south-eastern Louisiana. Energy companies scrambled to pull workers from offshore oil and gas production platforms. Chevron Corp, Equinor and Murphy Oil Corp shut in wells as a precaution, and refiner Phillips 66 halted processing at its Alliance refinery on the Louisiana coast. It warned the storm's advance would slow in the next two days.

    In Libya, commander Khalifa Haftar committed to ending a months-long blockade of oil facilities, a move that would add more supplies to the market, although it was unclear if oil fields and ports would begin operations.

    OPEC predicted that world oil demand will fall more steeply in 2020 than previously forecast due to the coronavirus and recover more slowly than expected next year, potentially making it harder for the group and its allies to support the market. OPEC’s estimation is world oil demand will tumble by 9.46 million barrels per day (bpd) this year, more than the 9.06 million bpd decline expected a month ago. Oil prices have collapsed as the coronavirus crisis has curtailed travel and economic activity. While some countries have eased lockdowns, allowing demand to recover, a rising number of new cases and higher oil output have weighed on prices.

    OPEC also reported its output rose by 760,000 bpd to 24.05 million bpd in August, as the 9.7 million bpd cut tapered to a reduction of 7.7 million bpd from Aug. 1. That amounted to 103% compliance with the pledges - up from July's figure of 97%. A monitoring panel of OPEC+ ministers meets on Sep.17 to discuss the market. Some delegates have voiced concern about the drop in prices this month although there are no signs that the group is planning to tweak the supply pact.

    Oil trader Trafigura said the oil market is about to go back into surplus as the demand recovery stagnates. Trafigura was among the first to forecast the magnitude of the demand collapse in March and April. Now, the trading house is betting the oil market is about to enter another bearish phase despite the efforts of the OPEC+ alliance to balance supply and demand. According to Trafigura, the main problem is that demand, which recovered sharply over May and June, has plateaued. It’s now around 92 million barrels a day, compared with roughly 100 million barrels a day before the pandemic.

    It is expected, that Iran’s electricity grid will be connected with Russia and Azerbaijan in a few months, once grid compatibility studies are completed. Iran, Azerbaijan, and Russia have agreed to set up a company which has already started working on the project to link Iran’s grid to Russia via Azerbaijan. The idea of connecting Iran’s power grid with Russia via Azerbaijan was first aired in March 2019.

    The world’s top oil traders have been chartering dozens of supertankers for potentially storing oil at sea amid signs that demand recovery has stalled. Trafigura has chartered 12 very large crude carriers (VLCC), which can collectively hold 24 million barrels of oil. Another 18 supertankers have also been booked by companies including Vitol Group, Shell, and Lukoil. Meantime, day rates for supertankers have tripled in a week.

    U.S. voters generally support natural gas production, but nearly half of U.S. registered voters believe the natural gas industry must do more to reduce emissions to have natural gas play a role in fighting climate change. Both Democrats and Republicans have a favorable view of natural gas, with Republicans much more in support of using natural gas as an energy source. There is a lot at stake for the oil and gas industry at the presidential election in November. U.S. President Donald Trump rolled back last month methane emissions rules for oil and gas fields and pipelines, while Democratic candidate Joe Biden has promised more efforts and resources to boost cleaner energy and jobs, but he has said he would not ban fracking.

    We expect IFO bunker prices will stay steady today while MGO prices may change irregular in a range of plus-minus 1-4 USD.




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
15:18 MABUX releases Bunker Weekly Overview
15:09 IMO-Singapore webinar charts ways forward for decarbonisation of shipping
14:15 Bollinger awarded contract for state-of-the-art floating dry dock for the US new Columbia Class ballistic missile submarine
13:56 Bunker prices are going down in the Far East ports of Russia (graph)
13:32 LR accepted by MarinTrust as a new registered Certification Body
13:10 Rosmorport announces expansion of Onega seaport limits
12:33 Lead nuclear-powered icebreaker of Project 22220, Arktika, leaves for Murmansk on September 22
12:01 Konecranes wins order for two more mobile harbor cranes from ZHD Stevedores in the Netherlands
11:30 Abu Dhabi Ports’ Smart Container Initiative to cut emissions by half
11:05 New rail link opens between Oslo and the Port of Gothenburg
10:54 CMA CGM announces FAK rates from Pakistan to North Europe, North Africa and Mediterranean
10:52 Fleet of Rosmorport’s Astrakhan Branch expanded with Nerpa aerosleigh
10:29 Rosmorport signs contract with Marine Rescue Service for reconstruction of Vanino-Kholmsk ferry crossing
10:04 Powers of Konstantin Palnikov as RS General Director extended from October 2020
09:33 Oil prices decrease after a recent rise
09:16 MABUX: Bunker market this morning, Sept 17
09:11 Baltic Dry Index as of September 16

2020 September 16

18:05 Busan Port enhances protection of Gamcehon Port from COVID-19
17:52 Launching of trawler Vseslav and keel-laying of similar ship held in Svetly of Kaliningrad Region