• 2020 October 16 09:53

    MABUX: Bunker market this morning, Oct.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 upward evolution on Oct.15:

    380 HSFO - USD/MT - 297.23 (+2.75)

    VLSFO - USD/MT – 353.00 (+1.00)

    MGO - USD/MT – 417.89 (+0.94)

    Meantime, world oil indexes decreased on Oct.15 as new restrictions to stem a surge in COVID-19 infections increased uncertainty over the outlook for economic growth and a recovery in fuel demand.

    Brent for November settlement decreased by $0.16 to $43.16 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for November delivery fell by $0.08 to $40.96 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $2.20 to WTI. Gasoil for October delivery lost $1.50 – $341.50.

    Today morning oil indexes do not have any firm trend so far.

    U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 3.8 million barrels from the previous week. At 489.1 million barrels, U.S. crude oil inventories are about 11% above the five year average for this time of year. In gasoline, the EIA reported an inventory draw of 1.6 million barrels for the week to October 9. In distillate fuels, the EIA estimated a stock decline of 7.2 million barrels, compared with a 1-million-barrel draw a week earlier. Distillate fuel inventories remain at seriously inflated levels because of the uneven recovery in the demand for different fuels.

    Some European countries are reviving restrictions and lockdowns to try to contain the rise in new coronavirus cases, with Britain expected to impose tougher COVID-19 restrictions on London from midnight on Oct.16.

    Russia’s crude producers, which have reduced oil drilling by as much as one-third so far this year, may cut it by a further 20% in 2021. Russia has made unprecedented output cuts this year under a deal with the Organization of Petroleum Exporting Countries that’s set to last through April 2022. Though that helped support crude prices, they are again under pressure as the coronavirus surges, and threatening oil drilling everywhere. OPEC and its allies are also debating whether to proceed with its plan to ease the curbs from January.

    OPEC said the OPEC+ alliance will ensure oil prices do not plunge steeply again when it meets to set policy at the end of November. A technical OPEC+ committee meeting took place on Oct.15 to discuss compliance with oil cuts and market fundamentals. It is reported, that the group had 102% compliance with its cuts in September. Countries such as Iraq, Nigeria and the United Arab Emirates, which had fallen short of their commitments, have been asked to make additional cuts until the end of the year to compensate for the shortfalls.

    The Petroleum Safety Authority Norway (PSA) said, that company responses to the coronavirus pandemic may have contributed to deteriorating safety at Norway’s oil and gas infrastructure, which has seen 50 serious incidents so far this year—double that from the same time last year and four times higher than in 2018. The Norwegian authority is concerned that maintenance delays and changes to turnaround schedules due to the pandemic could delay the necessary servicing of oil and gas infrastructure.

    European Commission has presented methane emission reduction strategy. The strategy, which sets out measures to cut methane emissions in Europe and internationally, presents legislative and non-legislative actions in the energy, agriculture and waste sectors. One of the priorities under the strategy is to improve measurement and reporting of methane emissions. The level of monitoring currently varies between sectors and Member States and across the international community.

    Low oil prices, lower credit availability, and piling debt loads forced a few dozen oil and gas firms in North America to file for bankruptcy protection in the third quarter. As many as 44 oil and gas producers, oilfield services companies, and midstream companies sought protection from creditors in bankruptcy courts between July and September. At the moment, banks are set to lend money only for the value of producing wells, not prospective wells. So shale drillers are likely to receive credits only for wells that currently generate cash flow that can repay the loans. As per some forecasts, the 2020 crisis will result in annual declines in shale production this year and next, while the average growth rate over the next decade will be less than one-fifth that of the previous three years

    We expect bunker prices do not have any firm trend today and may change irregular in a range of plus-minus 1-3 USD.


2020 October 27

18:37 Bahri net profit up 114% in third quarter of 2020
18:07 Premuda and Columbia Shipmanagement form joint venture
17:52 Publication of first N2000 nautical charts postponed to 2021
17:45 Deep water berth extension at Port of Halifax fully operational
17:37 SC Ports welcomes two new ship-to-shore cranes
17:30 FSUE Rosmorport to take part in 4th “LNG Fleet, LNG Bunkering and Alternatives” conference
17:06 Costa Cruises completes first LNG bunkering operation in Italy
16:24 OOCL updates North Europe – Turkey service
15:33 New tanks for storage and processing of polluted water have been put into operation in the port of Riga
15:04 Norway's biggest ferry company orders two new ferries from Havyard LAB
14:10 Port of Gothenburg posts results for January-September 2020
14:06 Krasniye Barrikady launched non-self-propelled cargo pontoon of Project GPRN
13:21 Wärtsilä cargo handling system design selected for new Very Large Ethane Carrier vessels
12:52 Bunker prices are stable in the Far East ports of Russia (graph)
12:27 BlueWater Reporting issues Q3 2020 World Liner Supply Report
12:09 HEINEKEN pioneers with zero-emission shipping
11:58 COVAXX and Maersk enter partnership to supply COVID-19 vaccines globally
11:03 Sea Port of Saint-Petersburg continues automation of railcars weighing
10:38 RF Government to look into development of national project focused on IWW
10:09 CMA CGM announces PSS for cargo from India North West ports to Europe
09:45 MABUX: Bunker Market this morning, Oct 27
09:40 Strategy for Developing the Russian Arctic Zone and Ensuring National Security until 2035 approved
09:22 Oil prices are recovering
09:07 Baltic Dry Index as of October 27

2020 October 26

18:03 Shipping emissions talks stall in London
18:03 Port of Klaipeda to get funds for sustainable development and digitization of the port’ management
17:42 34.6 million tonnes loaded in the Port of Klaipeda in 9 months of this year
16:58 Innovative solutions of MAPEI are increasingly widespread in shipbuilding
16:34 Kalmar continues long-term collaboration with Patrick Terminals with new order for AutoStrads
16:10 Average spot market price for Russian M100 product rose to RUB 12,430 pmt
15:46 Royal IHC and Suez Canal Authority successfully launch CSD HUSSEIN TANTAWY
15:34 EPS secures 15-year TC from STL for four dual fuel VLECs
14:52 RF Prime Minister approves list of checkpoints that can be crossed by foreigners with e-visas
14:31 Ocean Network Express to launch new intra Asia service
14:03 Port of Helsinki passenger traffic down 53.9% to 4.1 million in Jan-Sept 2020
13:06 Passenger turnover in Russian ports plunged by 73.9% in 9M’2020
12:59 ICS welcomes legally binding agreement to significantly improve the carbon efficiency of shipping
12:37 Delo Group and Russian Railways signed Agreement on cooperation in organization of rail container transportation
11:59 Stena Bulk branded class for tanker personnel opened at Admiral Makarov SUMIS
11:58 The Ocean Cleanup introduces first product made with ocean plastic pollution
11:30 NIBULON ranks first among Ukrainian shipyards
10:31 EMA and Keppel jointly awarded a research grant to pilot Singapore’s first floating Energy Storage System
10:15 Admiralteiskie Verfi shipyard delivered diesel-electric submarine Volkhov to RF Navy
09:50 MABUX: Bunker Market this morning, Oct 26
09:26 Oil market starts week with decreasing prices
09:09 Baltic Dry Index as of October 23

2020 October 25

15:27 USCG: Oil spill cleanup of Delaware Bay coastline continues
14:53 Richmond Council to host first public meeting with Hammersmith Bridge Taskforce
14:38 Deep water berth extension at Port of Halifax fully operational
13:27 Gothenburg Port Authority's Elvir Dzanic named as a member of Electrification Commission
12:43 Maritime NZ welcomes report to MPI
12:18 Oil spill response equipment and vessel rates in Singapore
11:04 GPA holds first virtual State of the Port

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