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  • MABUX: Bunker market this morning, Oct.20
  • 2020 October 20 10:02

    MABUX: Bunker market this morning, Oct.20

    MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO (Gasoil) in the main world hubs) changed irregular on October 19:

    380 HSFO: USD/MT 299.08 (+0.70)
    VLSFO: USD/MT 352.00 (-2.00)
    MGO: USD/MT 415.11 (-2.02)


    Meantime, world oil indexes decreased on Oct.19 after China released data showing a smaller-than-expected rise in GDP during the third quarter and on Libya’s plan to boost output.

    Brent for November settlement decreased by $0.31 to $42.62 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for November delivery fell by $0.05 to $40.83 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $1.79 to WTI. Gasoil for November delivery lost $3.75 – $341.00.

    Today morning oil indexes continue slight downward trend.

    China reported a 4.9% growth in GDP year-on-year for the third quarter earlier in the day, smaller than the 5.2% growth in forecasts. However, other indicators showed a strong recovery overall for the world’s second largest economy. Industrial production grew 6.9% year-on-year and retail sales grew 3.3% year-on-year. The unemployment rate was 5.4%, down from the previous quarter’s rate of 5.6%.

    The IEA said that the oil market has stabilized, with stocks drawing 0.9 million bpd in the third quarter, but that the outlook is fragile. As per Agency, the rising cases of covid-19 in many parts of the world surely raises doubts about the robustness of the anticipated economic recovery and thus the prospects for oil demand growth.

    The OPEC+ Joint Ministerial Monitoring Committee met virtually on Oct.19 to discuss the alliance’s production curbs. A renewed rise in the COVID-19 cases and a stalling demand recovery has prompted calls for the alliance to scrap their plan of easing output cuts from 7.7 million barrels a day to 5.8 million barrels a day on Jan. 1. However, it is expected that any concrete decisions will be taken only on the group meetings on the 30 November and 1 December.

    The global count of confirmed COVID-19 cases climbed above 40 million on Oct.19, while the death toll rose to 1.1 million. The number of new U.S. infections fell below 50,000, the lowest in nearly a week, as deaths neared 220,000 and moving averages suggested the spread is picking up steam. Several European countries have moved to increase restrictions on activity as the number of infections have risen.

    Libya has significantly boosted its production after the easing of a blockade by eastern forces in September. The 70,000-barrels-per-day Abu Attifel oilfield is expected to begin its restart on Oct. 24 after being shut down for months.

    Britain is urging businesses to step up preparations for a no-deal exit from the European Union when transitional arrangements end. Talks between Britain and the EU on a trade deal ended in recrimination last week, with both sides saying the other needed to compromise. British Prime Minister Boris Johnson said on Oct.16 there was no point in continuing discussions and it was now time to prepare for an exit without a trade deal. Both parties will hold a call with business leaders this week, while 200,000 traders will receive a letter setting out new customs and tax rules.

    We expect IFO bunker prices will be steady today while MGO prices may fall by 3-6 USD.




2022 October 4

18:32 DEME upgrades DP fallpipe vessel fleet
18:24 Lomar Shipping announces the corporate acquisition of Carl Buttner
18:06 KBAL and Høglund join forces to offer shipowners ground-breaking ballast water technology
17:51 Throughput capacity of CPV to grow 1.7 times to 1.2 million containers by 2025
17:26 The steel-cutting ceremony for two new ferries takes place at Cemre Marin Endustri shipyard
17:06 Mawani and Globe Group sign a contract to build an integrated logistics park at Jeddah Islamic Port
16:50 Emperium to present its electric vessel with a hybrid system intended for the Neva in 2023
16:32 Excelerate Energy finalizes agreement with HHI for newbuild FSRU
16:07 TotalEnergies announces naming ceremony for the Brassavola LNG bunker vessel in Singapore
15:44 Hapag-Lloyd acquires terminal business of SM SAAM for USD 1 billion
15:04 Petrofac takes over operatorship of the Northern Endeavour FPSO facility
14:20 Northern Delivery programme of navigation season 2022 is nearly completed ‒ Rosmorrechflot
14:03 Maersk Oil Trading, METS, Mitsui and ABS develop methanol bunkering project in Singapore
13:41 Rosmorrechflot reports reduction of oil products transportation by Russia’s IWW in 2022
13:22 Tallink Grupp reports largest quarterly passenger number since 2019
13:02 REGENT and TotalEnergies partner to explore use of electric seaglider for maritime travel to offshore energy platforms
12:34 Sval Energi completes USD 1.3 billion deals
12:01 Multipurpose dry cargo ship of Project RSD34 can be fully fitted with Chinese equipment
11:57 PSA joins ‘The Silk Alliance’ cross supply-chain maritime partnership initiated by Lloyd’s Register Maritime Decarbonisation Hub
11:28 Sweden sends diving vessel to probe leaking Nord Stream pipelines - Reuters
11:23 Fleet maintenance base in Ust-Luga to be loaded with orders until 2030 — Rosmorport
10:45 Finnish Ministry of Foreign Affairs gives a negative decision for the export license to the icebreaker ordered by Norilsk Nickel
10:24 IMO and Commonwealth Secretariat join forces for sustainable maritime development
09:50 Crude oil futures rise on expectation of OPEC+ decision to cut oil output
09:35 Port of Long Beach presents annual emissions inventory report
09:25 Rosatom and Rosmorrechflot work out inland water transport corridors leading to Northern Sea Route
08:51 MABUX: Sharp upward deviation is expected in Global bunker market on Oct 04

2022 October 3

18:23 Preparing container vessels for conversion to green fuels – Maersk Mc-Kinney Moller Center
18:13 Candela's electric hydrofoil ferries could unlock the potential of Seattle's waterways
17:56 Russia needs bulker fleet of 70 million dwt to ensure transport independence in this segment
17:49 Accelleron completes successful spin-off from ABB with shares admitted to trading on SIX Swiss Exchange
17:27 USC to commence building 60,000-dwt bulkers upon completion of Severnaya Verf modernization
17:05 Conti Seafrigo Antwerp realises new frozen food warehouse
16:05 Suez Canal Economic Zone signs contract with Agility to develop and operate a customs and logistics center
15:48 Russia not to face dredging problems on the Northern Sea Route in the coming years – Rosatom
15:24 Amogy launches operations in Norway
15:01 Rosmorrechflot expects throughput of Russian seaports in 2022 to remain flat, year-on-year
14:29 DP World launches a new strategic arm focused on supporting the growth ambitions of large companies
14:06 Performance Shipping announces agreement to acquire eighth Aframax vessel
13:49 Rosmorrechflot plans to have about 50 ships built by 2024-25
13:43 Expro completes subsea decommissioning project on Ireland’s first indigenous gas wells
13:26 Rosmorrechflot considers it necessary to shift container flows from Far East ports to southern ones
12:48 Seven new container lines opened in the Far East Basin this year
12:10 DNV and Pavilion Energy partner to bring fully digital LNG bunkering to Singapore
12:01 Russia’s drifting polar station North Pole-41 commences operation in the Arctic Ocean
11:57 Weathernews launches new service supporting ‘Greener shipping and Sea Logistics’
11:35 Solstad Offshore announces contract for PSV in Brazil
11:34 EverWind and Svitzer announce joint development of green fueled vessels
10:42 Aker Solutions and Siemens Energy to provide the grid connection infrastructure for the Norfolk Boreas Offshore Wind Farm
10:12 The project for a deepening of fairway in the Port of Gothenburg receives permit
09:59 Coal terminal Port Elga planned for construction in Khabarovsk Territory obtains environmental approval
09:35 Mawani and Tabadul sign MoU to develop a new Port Community System
09:16 Crude oil futures rise on possible output cut by OPEC+
09:01 MABUX: Downward changes expected in Global bunker market on Oct 03

2022 October 2

14:13 MISC strengthens its partnership with Seariver Maritime
13:51 Salt designs Bay du Nord FPSO hull
11:27 North Italian terminal orders Generation 6 Konecranes Gottwald Mobile Harbor Crane to lift productivity and eco-efficiency
09:58 GTT receives an order from DSME for the tank design of ten new LNG carriers

2022 October 1

15:31 International carbon collaboration could reshape shipping markets - ICS
13:48 14% of the Port of Valencia’s electrical energy will be of solar origin