• 2020 October 21 08:21

    MABUX: Bunker market this morning, Oct 21

    MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO (Gasoil) in the main world hubs) demonstrated slight downward changes on October 20:

    380 HSFO: USD/MT 298.48 (-1.19)
    VLSFO: USD/MT 351.00 (-2.00)
    MGO: USD/MT 413.46 (-1.99)


    Meantime, world oil indexes also demonstrated irregular changes on Oct.20 on hopes that the United States was nearing a stimulus deal, but the threat to demand from rising coronavirus cases worldwide and increased Libyan output kept prices from moving higher.

    Brent for December settlement increased by $0.54 to $43.16 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for December rose by $0.87 to $41.70 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $1.46 to WTI. Gasoil for November delivery lost $3.75.

    Today oil indexes decline amid surprise build in U.S. crude supplies.

    API a 584,000-barrel build in the week to Oct.16, against the forecast 1.9-million-barrel draw and the previous week’s draw of 5.422 million barrels. The market is now looking to data from the U.S. Energy Information Administration, due later in the day.

    The market is also following negotiations between U.S. House of Representatives Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin over another U.S. coronavirus aid package. If the deal is made that would support oil indexes. At the same time, Pelosi said in an interview she was optimistic Democrats could reach a deal with the Trump administration and aid could go out by early next month.

    The rebound in COVID-19 cases in Europe and North America that has sparked renewed lockdown measures is weighing on oil prices. There are over 40 million COVID-19 cases globally as of Oct. 20, according to Johns Hopkins University data. A second wave of cases in Europe and the U.S. has seen governments re-introduce restrictive measures.

    Fuel demand concerns saw OPEC+ pledge to support the oil indexes during joint ministerial monitoring committee (JMMC) meeting. Despite the concerns, OPEC+ will press ahead with plans to pare production cuts to 5.7 million barrels per day (bpd) from January onwards, from the 7.7 million bpd cut in place through December. However, these plans to increase output from January could reportedly be reversed should the need arise. At the same time, Russian energy minister Alexander Novak warned on Oct.20 it was too early to discuss global oil production curbs beyond December 1.

    Rising output from Libya, which is operating outside the OPEC+ pact, was adding to oversupply concerns. Libyan production is seeing a rapid increase, playing catch up after almost all the country’s output was shut down in January due to the outbreak of armed conflict. Sharara, the biggest oil field, is now reportedly at around 150,000 bpd, or half of its capacity, since it re-opened on Oct. 11. Another 70,000 bpd oilfield is expected to restart on Oct. 24.

    We expect bunker prices may demonstrate multidirectional changes today: 3-5 USD up for IFO and 1-3 USD down for MGO.




2020 November 30

18:36 Mina Rashid retains its title as the world’s leading cruise port at the World Travel Awards 2020
18:07 Seagoing vessels will pay a single tariff at North Sea Port from 1 January 2021
17:55 DP World’s Jebel Ali Port joins International Association of Ports and Harbours
17:36 Brittany Ferries’ new ship sets sail online
17:13 IAPH climate and energy working groups meet
16:48 Gasum continues to expand bunkering services
16:40 RWE and DEME Offshore install collars on offshore foundations
16:25 Fair treatment of seafarers and the COVID-19 pandemic on IMO Legal Committee's agenda
16:01 Report on maritime automation legislation commissioned by Finland’s Ministry of Transport and Communications pays attention to ensuring safety
15:37 Rosmorport conducted pilotage and docking of LNG tankers to temporary LNG Offshore Transshipment Complex in Barents Sea
15:14 "Wind Hunter Project" starts zero-emission project with wind propulsion and hydrogen
14:52 Port of Gdansk expects its tonnage to exceed 48 million tonnes in 2020
14:39 ABS and DSME sign JDP to explore using solid oxide fuel cells on-board VLCCs
14:30 Gazprom posts RUB 202.21 billion loss in 9M’2020
14:04 Uralhimmash shipped new equipment for NOVATEK’s facility in Ust-Luga
13:41 Average spot market price for Russian M100 product climbed to RUB 14,029 pmt
13:20 Diana Shipping announces time charter contract for m/v Polymnia with CLdN Cobelfret
12:56 Collaboration and digitalisation highlighted for Singapore’s maritime safety efforts at MPA’s International Safety@Sea Event
12:33 RF Government expands Vladivostok seaport territory
12:10 Abu Dhabi Ports supports the fight against COVID-19 with capacity to store and distribute 70M vaccines
11:49 LNG bunker fleet could increase fivefold by 2030
11:48 NIBULON launches a 90-m non-self-propelled vessel
11:27 RS optimizes Rules for Classification and Construction of Sea-Going Ships
11:03 Van Oord’s vessel completes turbine installation at Borssele III & IV offshore wind farm
10:45 NIB and Tallink Silja Oy agree COVID Response loan to support operations
10:22 Volga Shipping Company transported 3.2 million tonnes of grain in navigation season of 2020
10:16 Castor Marine takes over SeaVsat assets
09:59 MABUX: Bunker market this morning, Nov.30
09:38 Throughput of Chinese sea and river ports in 10M’2020 climbed by 3.7% YoY
09:20 Oil prices decrease in the beginning of the week
09:06 Baltic Dry Index as of July 7

2020 November 29

16:07 Port of Antwerp: New intermodal connections, October 2020
15:23 Lerwik Port Authority's Annual Review: Diverse customer base served Lerwik Harbour well in 2019
14:56 USCG, good Samaritan rescue 3 from sinking vessel near Cape Fear
13:28 BAE Systems secures Navy's contract for drydocking, maintenance and modernization of USS Wasp (LHD1)
12:41 Boluda’s new tug duo arrived in Rotterdam
11:48 Scorpio Bulkers announces the sale of Ultramax vessels
10:55 Pacific Basin expands its fleet with the acquisition of four modern Ultramax vessels

2020 November 28

15:51 Turkish shipbuilder orders boiler package from Parat for NB1105
14:23 Volkswagen Group selects marine biofuel leader GoodFuels to run fossil-free car transport operations
13:18 Fincantieri inks agreement with the Yucatán Gov’t for a new shipyard
12:27 Piriou has developed 100M cable vessel
11:39 Federal Maritime Commission increases global alliances' information monitoring report requirements
10:57 Managing passenger shipping for the benefit of all stakeholders

2020 November 27

18:27 First full-flow ballast water management system to receive Chinese Flag and CCS Type Approval
18:05 CLdN adds 2nd call on Zeebrugge - Cork route
17:47 Seagoing vessels mooring at North Sea Port will now pay a single tariff for the entire cross-border port area
17:26 FESCO delivered extra heavy power equipment from Russia to Bangladesh
17:05 LR, Anemoi and SDARI join forces on rotor sail designs
16:39 Interested parties invited to submit offers on development of deepwater terminal in Świnoujście
16:14 Sea-Cargo starts new freight service via Gothenburg
15:50 Yantar shipyard delivers new trawler of Project SK-3101R
15:48 Mikki Koskinen elected as the new Chairman of Finnish Shipowners’ Association
15:36 Head of Delo Group outlined tasks for updated composition of TransContainer BoD
15:15 IHM Certification for UK flag ships subject to PSC inspection at EU ports
14:48 IADС continues partnership with organizers of Hydraulic Engineering Structures and Dredging Congress
14:14 Wilhelmsen awarded funding for Singapore 3D printing project
13:59 World Maritime University and Batumi State Maritime Academy signed MoU
13:33 Bunker prices recover in the Far East ports of Russia (graph)
13:14 Fully integrated Wärtsilä Hybrid Solution selected for new Misje Rederi bulk carriers