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  • 2020 September 16 08:34

    MABUX: Bunker market this morning, Sept 16

    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 September 15:

    380 HSFO: USD/MT 287.95 (-0.60)
    VLSFO: USD/MT 332.00 (+1.00)
    MGO: USD/MT 405.89 (-0.78)


    Meantime, world oil indexes increased on Sep.15 on production shutdowns ahead of the hurricane barreling toward the U.S. Gulf Coast of Mexico.

    Brent for November settlement increased by $0.92 to $40.53 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for October rose by $1.02 to $37.33 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $2.25 to WTI. Gasoil for October delivery added $0.25.

    Today morning oil indexes continue to rise, as a hurricane disrupted U.S. offshore oil and gas production and amid a big drop in U.S. crude stockpiles.

    More than 25% of U.S. offshore oil and gas output was shut and export ports were closed on Sep.15 as Hurricane Sally sat just off the U.S. Gulf Coast. That is likely to help reduce stockpiles although refineries were also shut down, cutting demand for oil.

    According to the American Petroleum Institute (API), U.S. crude oil inventories fell by 9.5 million barrels last week, although gasoline inventories increased. It was expected the increase of oil stocks by 1.3 million barrels. Official data on U.S. stockpiles is due out later on today and often conflicts with the industry figures. The forecasts indicating that the U.S. government will likely report a second-straight week of stockpile builds for the last week means that any rebound in oil indexes could be limited.

    Oil production in the United States rose during the first week of September from the week prior, but it is still down significantly from a high of 13.1 million bpd on Mar.13. U.S. oil production currently sits at 10.0 million bpd, according to the Energy Information Administration—3.1 million bpd under March highs.

    At the same time, the International Energy Agency (IEA) said on Sep.14 that it expects global oil demand growth to fall by 8.4 million bpd year-on-year to 91.7 million bpd. That is a deeper contraction than the 8.1 million bpd decline previously estimated. The main driver is a resurgence of Covid-19 cases in many countries that led to local lockdown measures, continued teleworking and the weak aviation sector.

    According to data, global oil supply rose by 1.1 million bpd in August as OPEC+ cuts eased, but was down 9.3 million bpd on a year ago. Following two months of gains, the recovery in countries outside the OPEC+ deal stalled in August. Production in the United States fell by 0.4 million bpd as Hurricane Laura forced precautionary shut-ins. Total non-OPEC supply is expected to drop by 2.6 million bpd in 2020.

    The recovery in global refining throughput is expected to slow from August to October due to the impact of hurricane shutdowns in the US Gulf and seasonal maintenance elsewhere. Chinese and Indian refinery runs fell in July and Hurricane Laura cut short the US recovery.

    The OPEC+ alliance of global oil producers said at its most recent meeting that it will not impose unilateral production cuts to try and boost falling crude prices.

    We expect bunker prices may demonstrate upward changes today: 4-6 USD up for IFO and 1-3 USD up for MGO.




2021 December 2

16:45 GTT will design the tanks of four new LNG carriers ordered by Daewoo Shipbuilding & Marine Engineering to operate in Arctic waters
16:25 MOL announces delivery of next-generation coal carrier 'EeneX' series
16:05 PSA & ONE launch environmentally friendly barge service at Jurong Island Terminal
15:42 “K” Line conducts trial use of marine biofuel for decarbonization on car carrier
15:38 Wärtsilä wins order to supply cargo handling system for second LNG bunker vessel being built by Fincantieri Bay Shipbuilding
15:23 Verifavia launches industry’s first real-time carbon intensity indicator dashboard
14:55 Two more LK-60 icebreakers needed for regular year-round navigation on Northern Sea Route
14:28 Equinor and SSE reach financial close on the third phase of the world's biggest offshore wind farm
14:04 Nuclear-powered icebreaker Sibir to commence operation in Kara Sea in early January 2022 – Vyacheslav Ruksha
13:42 MABUX: Bunker Weekly Outlook, Week 48, 2021
13:02 European shipowners call for further action in the Gulf of Guinea
12:40 Rolls-Royce to supply eight mtu engines for new Svitzer tugs in Brazil
12:01 Throughput of Azov port in 11M’2021 climbed by 1% YoY
12:00 NORDEN simplifies business unit structure
11:36 Norway’s Eksfin tops NOK 10bn in offshore wind financing as Dogger Bank C reaches financial close
11:34 Annual throughput of Severnaya Zvezda project on Taimyr peninsula to exceed 7 million tonnes from 2026
11:10 MABUX: Uncertainty on Global bunker market to continue on Dec 02
10:00 Digital Twin Conference 2022 to be held virtually on 11-12 May 2022
09:33 Crude oil prices are rising in expectation of OPEC+ meeting
09:19 Baltic Dry Index as of December 1

2021 December 1

19:15 PortNews to hold Ship Repair, Modernization and Components Conference on 20 September 2022 in Saint-Petersburg
18:31 DP World celebrates 2,000 members of the Digital Freight Alliance
18:07 CMA CGM and Shell perform first Bio-LNG bunkering operation in Rotterdam
17:42 8 new fuel-efficient ships to join the X-Press Feeders fleet
17:26 Danish Smyril Lines Cargo starts second service between Iceland, the Faroe Islands and Rotterdam
17:06 Port of Antwerp invests in digitalisation of radar infrastructure
16:47 Western Australia and Port of Rotterdam to collaborate on renewable hydrogen
16:05 IMO moves ahead on GHG emissions, Black Carbon and marine litter
15:50 Diana Shipping announces completion of OceanPal spin-off
15:41 RF Federation Council approves Federal Law on Ratification of Nairobi Convention
15:04 Yang Ming adds the latest of its 9th 11,000 TEU ship to the Trans-Pacific service
14:07 SEA-LNG backs Europe’s goal-based, technology-neutral regulation for cleaner shipping
13:50 Liepaja SEZ Board appointed Uldis Hmieļevskis, Deputy CEO, as Acting Manager
13:14 Rolls-Royce extends TBO intervals of mtu Series 4000 engines for commercial marine application
13:03 Oil shipments via CPC Marine Terminal in 11M’21 climbed by 0.7% YoY
12:56 Valenciaport tenders the drafting of the urban development project for areas 2 and 5 of the Special Plan for zone 1 south of the Port of València
12:06 Mostotrest conducted 2,177 operations on raising bridges in Saint-Petersburg over navigation season of 2021
11:45 MABUX: Bunker prices may continue to decline on Dec 1
10:49 Russian Railways' network loading climbed by 3.3% in 11M’2021
10:15 Maersk Customs Services USA highlights trends and opportunities for U.S. importers
09:51 Port of Kiel receives funding for digital test field
09:30 Crude oil prices start rising
09:16 Baltic Dry Index as of November 30

2021 November 30

18:35 ICS urges WTO Director General to prioritise maritime transport in multilateral trade negotiations
18:14 First phase of Tuas Port reclamation works completes
17:53 Finnlines announces bunker surcharge for Malmö-Travemünde-Malmö
17:35 HDB, JTC and MPA, which issue over two-thirds of government invoices, offer e-invoicing through IMDA’s InvoiceNow
17:04 DNV supports world first large-scale testing of submerged CO2 pipelines
16:48 RF Navy’s large anti-submarine ship Vice Admiral Kulakov enters Barents Sea
16:34 Brittany Ferries takes delivery of Salamanca
16:04 Port of Oakland total cargo volume down 20 percent in October 2021
15:50 RF Navy's corvette Gremyashchy and two submarines of Varshavyanka project welcomed in Vladivostok
15:39 Abbey Heimensen appointed to VP of Marketing, MarineMax
15:34 The Port of Barcelona validates its Innovation Plan
15:19 Icebreaker Sibir of Project 22220 completed main part of shipbuilder’s sea trials
15:04 Terminal San Giorgio orders an eco-efficient Konecranes Gottwald ESP.8 Mobile Harbor Crane
14:43 Keppel Offshore & Marine signs global framework agreement with Ørsted on potential future offshore substation projects
14:24 DEME Group Signs Partnership Agreement with CIP for the Development of Energy Island in Danish North Sea
14:03 Volvo Penta to power Hurtigruten Svalbard’s new hybrid vessel
13:42 Rosterminalugol starts building wind and dust protection screens around its coal storage area