• 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.




2020 September 21

13:04 Work commences on Phase-2 wharf revetment and land reclamation at Port of Kaohsiung's 7th Container Terminal
12:59 Algeciras, Amsterdam, Lisbon and Puertos del Estado shortlisted for 12th ESPO Award
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