• 2020 September 18 09:51

    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 upward changes on September 17:

    380 HSFO USD/MT294.26 (+2.50)
    VLSFO USD/MT 340.00 (+4.00)
    MGO USD/MT 411.29 (+3.77)


    Meantime, world oil indexes also increased on Sep.17 as OPEC and its allies said the producer group would crack down on countries that failed to comply with output cuts and planned to hold an extraordinary meeting in October if oil markets weaken further.

    Brent for November settlement increased by $1.08 to $43.30 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for October rose by $0.81 to $40.97 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $2.33 to WTI. Gasoil for October delivery added $14.75.

    Today morning oil indexes continue to rise.

    Supporting prices, OPEC and its allies said on Sep.17 the group will take action on members that are not complying with deep output cuts to support the market following a coronavirus-led slump in fuel demand. The panel of major producers, including Saudi Arabia and Russia, did not recommend any changes to their current output reduction target of 7.7 million barrels per day (bpd), or around 8% of global demand.

    The panel pressed laggards such as Iraq, Nigeria and the United Arab Emirates to cut more barrels to compensate for overproduction in May-July, while extending the compensation period from September to the end of December. Saudi Arabia also warned speculators not to bet against OPEC.

    Prices are under pressure from the slow economic recovery from the pandemic. Global coronavirus cases were over 30 million on Thursday. An OPEC+ technical panel warned that a rise in coronavirus cases in some countries may curb oil demand despite signs of economic recovery and initial indications of a decline in oil stocks. At the same time, Russian Energy Minister Alexander Novak expects global oil demand to recover fully in the second quarter of 2021.

    U.S. offshore drillers and exporters began a clear up on Thursday after Hurricane Sally weakened to a depression and started rebooting idle Gulf of Mexico rigs after closing the down for five days. Crews were flown back to at least 30 offshore oil and gas platforms.

    Saudi Arabia's crude oil exports rebounded in July to 5.73 million barrels per day (bpd) from a record low in June. At 4.98 million bpd, crude exports in June were the weakest on record, according to data from the Joint Organizations Data Initiative (JODI) stretching back to 2002. Saudi Arabia's crude production rose 13.3% month-on-month in July to 8.48 million bpd, its lowest since December 2002. Output from OPEC rose by more than 1 million bpd in July as Saudi Arabia and other Gulf members ended voluntary supply cuts, on top of an OPEC-led deal to curb production.

    The U.S. Labor Department's report showed the number of Americans filing new claims for unemployment benefits fell last week, but remained at extremely high levels as the labor market recovery shifts into low gear and consumer spending cools.

    We expect bunker prices may demonstrate upward changes today: 5-7 USD up for IFO and 11-14 USD up for MGO.




2020 October 29

18:31 Wan Hai Lines to launch Straits – Bangladesh Express Service
18:09 Lloyd’s Register launches dedicated Maritime Decarbonisation Hub
17:56 Bill on corporatization of FSUE Rosmorport submitted to RF Government
17:56 Hapag-Lloyd announces winter surcharge to and from St. Petersburg and Ust-Luga
17:30 Rosmorport’s Azov-Black Sea Basin Branch purchased 5 tugboats
17:05 Wärtsilä to collaborate with Anemoi Marine Technologies in future sales of Rotor Sail solutions
16:59 Romania’s border authorities using EMSA RPAS for coast guard surveillance
16:35 Jon Fredrik Baksaas appointed DNV GL’s Chair of the Board
16:17 Nordion Energi moves closer to the aim of 100% green energy by joining the European Clean Hydrogen Alliance
16:01 Port of Los Angeles streamlines online permit process
15:28 MABUX released Bunker Weekly Outlook
15:22 Bunker prices are slightly down in the Far East ports of Russia (graph)
15:20 CMA CGM announces Peak Season Surcharge from China to Russia
15:01 Partnership agreement between leading Hamburg Port Authority and Tanger Med Port Authority
14:36 Port Kolomna takes delivery of multibucket dredger of Project 3409
14:11 MAN compressor technology for largest FPSO vessel offshore Brazil
13:53 Novatek to launch LNG terminal in Rostock (Germany) in 2023
13:30 Rosatom looks into using barges for LNG delivery to Arctic regions
13:11 IMEC and ITF opens big quarantine and testing facility in Manila
12:52 RS grants GASA to GTT’s Mark III Technology
12:29 Rosatom expects reactor plants RITM-200 to be efficient for container carriers and oil tankers
12:10 GTT entrusted by Zvezda with the tank design of ten ARC7 ice-breaking LNG сarriers
11:48 USC forecasts complete transition of shipping industry to electric propulsion in 20-25 years
11:30 Rijkswaterstaat has awarded the enlargement of the Twente canals to a consortium of Van Oord - Hakkers - Beens
11:09 DSV Panalpina acquires Prime Cargo
10:50 Novatek to put into operation 30,000-cbm gas carrier under Cryogas-Vysotsk project in 2022
10:37 Volvo Penta IMO III marine generator sets help power five electric ferries in Norway
10:09 International Association of Dredging Companies signs major strategic collaboration agreement with FIDIC
09:51 MABUX: Bunker Market this morning, Oct 29
09:46 Three LNG-powered product tankers for shipment of stable gas condensate from Ust-Luga to be delivered in 2022-23
09:24 Oil prices show slight increase
09:20 Vestdavit wins contract to supply six French Navy vessels
09:12 Baltic Dry Index as of October 28

2020 October 28

18:15 Sri Lanka's East Container Terminal inaugurates for operations
17:51 Tallink Grupp makes temporary changes to Tallinn-Helsinki route schedule from 29 October 2020
17:30 Key element of Russia’s collider facility NICA transshipped in Bronka
17:06 GONDAN delivers new fishing stern trawler to Prestfjord AS
16:39 Rosmorrechflot resumes work on programme for encouraging LNG-powered shipping
16:13 Cavotec launches next generation MoorMaster
16:05 CNL awarded Transport Canada contract to research clean energy technologies to decarbonize marine sector
15:48 Profit attributable to NOVATEK shareholders amounted to RUB 24.1 billion in 9M’2020
15:25 Petersburg Oil Terminal increased shipments of oil products by 18% in 9M'2020
15:03 World’s first LPG-retrofit announced
14:56 SCF time charters three icebreaking LNG carriers to the Arctic LNG 2 project
14:22 FSUE Rosmorport to adjust design documentation for dredging at LNG terminal in Bechevinskaya bay
14:03 LNG-fueled PCTC“SAKURA LEADER” accredited as the world's first digital smart ship
13:37 Blue Wave terminal in Azov port increased its throughput by 13% in 9M’2020
13:11 Cooperation agreement signed between Fincantieri and the Cochin Shipyard
12:35 LNG bunkering vessel Optimus built by Damen arrived in Shanghai for start-up procedures and sea trials
12:04 CMA CGM announces PSS for cargo from Pakistan to North Europe
11:42 Global Ports to launch tank container repairs service at Yanino
11:23 MPA launches RFP for new LNG bunker supplier licence
11:01 4th “LNG Fleet, LNG Bunkering and Alternatives” conference kicked off
10:50 CMIT receives largest container vessel in Vietnam’s history
10:15 “All Ferries of Russia. Baltic Sea” webinar scheduled for 6 November 2020
10:10 Total charters four new LNG-powered vessels
10:01 MABUX: Bunker Market this morning, Oct 28
09:59 CMA CGM announces FAK rates from Asia to North Europe
09:46 Bunker market sees mixed price movements in the Port of Saint-Petersburg, Russia (graph)
09:28 Oil prices start decreasing