• 2020 September 22 08:38

    MABUX: Bunker market this morning, Sept 22

    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 downward changes on September 21:

    380 HSFO: USD/MT 295.58 (-1.06)
    VLSFO: USD/MT 345.00 (-2.00)
    MGO: USD/MT 413.01 (-4.84)

    Meantime, world oil indexes also decreased on Sep.21 amid rising concerns that an increase in coronavirus cases in major markets could spur fresh lockdowns and hurt demand.

    Brent for November settlement decreased by $1.71 to $41.44 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for October fell by $1.80 to $39.31 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $2.13 to WTI. Gasoil for October delivery lost $18.00.

    Today morning oil indexes rise as the latest tropical storm in the Gulf of Mexico lost strength, but worries about fuel demand still pressure the prices.

    Texas refineries stayed open despite forecasts of heavy flooding, as Tropical Storm Beta decreased in power in the Gulf of Mexico, allaying concerns of an extended shutdown that began in the previous week with Hurricane Sally.

    Market is worry about demand in places like the United Kingdom, where fresh restrictions are being imposed. British Prime Minister Boris Johnson was pondering a second national lockdown as the U.K. registered over 37,000 deaths from nearly 340,000 cases. Caseloads in Spain and France have also climbed. U.S. health officials are warning of a new wave in the coming winter.

    The market will be watching out for the American Petroleum Institute's data on U.S. oil inventories due later today. U.S. crude oil and gasoline stockpiles likely fell last week, while inventories of distillates, including diesel, were seen climbing.

    There are also worries that a peace pact in Libya could ultimately deliver another million barrels per day to a market already deemed oversupplied. The workers at the major Sharara field have restarted operations, after the National Oil Corporation announced a partial lifting of force majeure, and a Suezmax tanker is making its way to Libya’s Marsa El Hariga terminal. But it was unclear when and at what level production might resume amid a peace deal offered by renegade general Khalifa Haftar to the government in Tripoli.

    The OPEC+ could be forced to respond to the return of Libyan oil with more output cuts from major producers in the Persian Gulf. It cited an internal planning document that foresaw Saudi Arabia, the United Arab Emirates and Iraq trimming their output by over 700,000 barrels a day to rebalance the market in that contingency.

    In addition, Chinese refineries are reportedly cut their runs by 5% - 10% this year in the face of high product inventories and low export margins.

    We expect bunker prices may demonstrate downward changes today: 7-10 USD down for IFO and 15-18 USD down for MGO.

2020 October 24

15:47 Ocean transport of the first lot of railway coach to Myanmar completed
14:51 OOCL announces services changes and enhancements on Asia-Europe trade
13:28 Port Authority launches new campaign against litter
12:41 Hapag-Lloyd announces Ocean Tariff rates on East Asia - NEC and Mediterranean trade
11:06 CSD Hussein Tantawy successfully launched at IHC's shipyard in The Netherlands

2020 October 23

18:09 Baltic Data Flows: New HELCOM project seeks to harmonize and harvest environmental data at a pan-Baltic level
17:47 ICS welcomes legally binding agreement to significantly improve carbon efficiency of shipping
17:10 Anti-submarine ship Vice-Admiral Kulakov completes its business call to Greece
16:32 Bollinger Shipyards delivers 41ST fast response cutter to the U.S. Coast Guard
16:05 APM Terminals Poti signs a contract with Poti New Terminals Corporation for the development of dry bulk facility in the Poti Sea Port
15:31 HySHIP project clinches EUR 8M funding award
15:13 Krasnoye Sormovo shipyard launches dry cargo carrier Alfa Mercury
14:50 Self-propelled crane built for RF Navy’s Pacific Fleet arrived in Vladivostok having passed the Northern Sea Route
14:25 Equinor changes chief financial officer
14:06 Membrane technologies of GTT is an optimal solution for gas carriers, LNG bunkering and storage
13:23 MarineMax participates in the Fort Lauderdale International Boat Show
13:05 Wärtsilä selected to power new ‘super ferries’ series for P&O Ferries
12:55 An agreement made to explore the possibilities of green hydrogen export from Iceland to Rotterdam
12:04 Tallink Silja AB is forced to issue redundancy notice to Swedish crew members
11:41 Tallink to become the first shipping company to receive Sustainable Travel Finland label
11:09 Austal to further expand Australia support business through acquisition of BSE Maritime Solutions
10:53 NYK to make Gazocean a wholly owned subsidiary
10:19 Bunker market sees slight change of prices in the Port of Saint-Petersburg, Russia (graph)
09:55 National Gas Vehicle Association to propose priority measures for LNG bunkering support
09:33 Oil prices continue decreasing
09:18 Baltic Dry Index as of October 22
08:49 MABUX: Bunker market this morning, Oct 23
08:19 CMA CGM announces GRR from Asia to West Africa

2020 October 22

19:00 “K”Line online training for seafarers obtained DNV GL certification
18:04 Milaha reports QR 384 million in net profit for the nine months of 2020
17:41 Port of Los Angeles receives $9.9 million infrastructure development grant
17:36 Feasibility report on ship repair cluster development in Arkhangelsk Region to be completed in November 2020
17:29 MABUX releases weekly review of bunker market
17:05 Gothenburg Port Authority CEO becomes the member of newly established Electrification Commission
16:44 ABP’s ports in East Anglia keep agricultural products moving
16:14 ONE adds new service from Asia to Indian Subcontinent
15:50 Bunker prices are flat in the Far East ports of Russia (graph)
15:34 EU awards funding to Kapellskär-Naantali Maritime Bridge environmental initiative
15:04 Environmental Protection Agency signs a proposed rule for reducing the environmental impact of discharges
15:03 ABS and TCOMS join forces to research next generation marine & offshore and maritime solutions
14:44 Floating nuclear power plant covers over 50% of electric energy demand in Chukotka
14:20 The average value of the Ningbo Container Freight index 1 in October increases by 1.2%
14:20 MPA-SSG-WSG joint media release: 1000 traineeships, company attachments and training opportunities for more Singaporeans to join maritime sector
14:03 Global Ports Holding signs sale and purchase agreement for Port Akdeniz
13:57 Port of HaminaKotka specifies minimum requirements for berthing and unberthing services
13:25 Rosmorport's Murmansk Branch performed pilotage of Sedov barque
13:01 Container throughput of Chinese ports still decease slightly in January - September 2020
12:52 Zhigalovo Shipyard lays down fifth ship of Project 3052 for Rechvodput
12:26 MPA-ABS MoU to advance R&D activities in maritime Singapore
12:13 Multi-million-euro project transforms CO2 into green raw material in North Sea Port
11:56 Private investments in infrastructure of Arkhangelsk port totaled RUB 25 billion in 7 years
11:18 Port of Long Beach posts results for in September 2020
11:11 Russian President Vladimir Putin signs order on merging Sevmorzavod into USC
10:07 ZIM offers new service to the UAE
09:58 Sea Port of Saint-Petersburg expands its cargo space
09:36 Oil prices continue decreasing in response to growing US reserves
09:19 Baltic Dry Index as of October 21
09:05 The Grimaldi Group takes delivery of the Eco Valencia and Grande Florida
09:03 MABUX: Bunker market this morning, Oct 22
08:52 MSC Cruises to implement next-generation air sanitation system developed by Fincantieri for the cruise industry