• 2020 October 23 08:49

    MABUX: Bunker market this morning, Oct 23

    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 downward changes on October 22:

    380 HSFO - USD/MT – 297.56 (-1.39)
    VLSFO - USD/MT – 348.00 (-2.00)
    MGO - USD/MT – 411.70 (-2.67)


    Meantime, world oil indexes increased on the hopes of a new stimulus package and the better-than-expected job figures.

    Brent for December settlement increased by $0.73 to $42.46 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for December rose by $0.61 to $40.64 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $1.82 to WTI. Gasoil for November delivery added $8.25.

    Today oil indexes continue to rise after Russian President Vladimir Putin indicated he would be prepared to extend record supply cuts in the face of the COVID-19 pandemic.

    Putin said on Oct.22 that Russia did not see a need for major oil producers to alter a deal on cutting global supply, but did not rule out extending oil cuts if market conditions warranted. That was the clearest indication so far from Russia that it is prepared to extend unprecedented curbs on output to meet the demand slump caused by the pandemic. His comments come as OPEC mulls easing the cuts, in place until the end of the year, and as the worsening COVID-19 pandemic threatens to further dampen fuel demand.

    At the same time, the semi-autonomous Kurdistan region in Iraq has agreed to reduce the region’s crude oil production as part of the ongoing OPEC+ agreement. The statement came after Iraq’s Oil Minister Ihsan Abdul Jabbar said earlier this week at an online petroleum conference that “the Kurdistan Region has not been contributing to OPEC+ cuts.” Iraq, the least compliant member of the OPEC+ production cut pact, has promised for months to reduce its oil production and fall in line with its quota—something it hasn’t done since 2017. In recent months, Iraq has come under pressure from its fellow OPEC+ partners led by Saudi Arabia to stop cheating on their production quotas and finally start complying with the agreement.

    Speaker Pelosi said that talks with Treasury Secretary Steven Mnuchin continue and a coronavirus relief deal could be imminent.

    Additional support to the markets came from the U.S. Department of Labor, which said that new weekly jobless claims in the U.S. were 787,000 for the last week. The figure was lower than analysts had expected— 870,000 unemployment benefit claims.

    Some pressures on oil indexes also remains from the gradual increase in production in Libya, which is now estimated to be producing at over 500,000 barrels a day, up from barely 100,000 barrels a day in the summer.

    At the same time, the number of COVID-19 cases continue to surge in Europe and the U.S., prompting the re-introduction of restrictive measures and putting further pressure on demand. With the weather cooling as winter approaches, several U.S. states saw a record number of daily new cases, suggesting that the spread of the virus is accelerating. France also extended curfews throughout two thirds of the country.

    We expect bunker prices may demonstrate upward changes today: 2-4 USD up for IFO and 6-8 USD up for MGO.




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
12:50 BW Lilac to deliver its first LNG cargo to Klaipėda LNG terminal
12:25 Russian Maritime Register of Shipping takes part in ROOGD-2020
12:01 The world’s first LPG-fuelled vessel has set sail
11:31 Port of Southampton to open new cruise terminal for 2021 season
11:07 DEME awarded the prestigious Abu Qir port project in Egypt
10:44 Main engines loaded on General Chernyakhovsky ferry being built by Rosmorport’s order
10:17 Austal Australia cuts metal on third of six cape class patrol boats for Royal Australian Navy
10:15 2020 season of shipping through Volga-Baltic locks is over
09:51 Equinor and partner reach financial close on world's biggest offshore wind farm
09:36 Baltic Dry Index as of November 27
09:31 MABUX: Bunker Market this morning, Nov 27
09:22 Oil prices decrease on uncertainty over OPEC+ deal

2020 November 26

18:31 Port of Houston is now the number one port in U.S. in terms of total waterborne tonnage
18:00 Port of Rotterdam to embark on 100 innovative pilot projects
17:51 RF Navy’s frigate Admiral Gorshkov performs tests in the White Sea
17:27 DFDS and its partners apply for EU support for development of hydrogen ferry
17:24 Rosneft conducts stratigraphic drilling on Arctic shelf
16:59 RF Navy's corvette Boykiy completed missions in the English Channel
16:27 RF State Duma approves lifting the ban on storage of agricultural chemicals in ports
16:03 MacGregor reaches OnWatch Scout milestone
15:25 APM Terminals Gijon responds to doubling of container volumes
14:58 Western Shipyard boosts its vessel repair capacity
14:33 Keppel secures contract worth about S$100 million for FPSO project
14:29 EU funds to dredge the navigation channel up to -15 meters in Klaipeda Port
14:02 BC Ferries to trial two ship service on Campbell River – Quadra Island route
13:48 Andrey Severilov elected as Chairman of FESCO BoD
13:30 The Danish Armed Forces and DFDS enter into an agreement on providing ships for the transport of military equipment
13:22 MPA invites market specialists to join its International Safety@Sea Webinar Series
13:02 Fincantieri with the fishing association “Federpesca” to revive the national fishing economy
12:24 Rosneft completed survey and design stage of the project to a port in Sever Bay
12:01 APM Terminals Apapa continues equipment investment programme
11:31 Huntington Ingalls Industries awarded contract for construction of first two Columbia-class submarine modules
11:06 Aquila Power Catamarans rolls out its redesigned sport power catamaran
11:06 Maqta Gateway and TruKKer to collaborate on digital truck booking services through “MARGO”
10:55 New Alfa Laval CM wireless condition monitor boosts process uptime while protecting plant equipment
10:26 BPA: Gov't one year spending review
10:04 Volvo Penta’s transformation for the marine commercial professional of today and tomorrow
09:50 50 vessels and up to 100 drilling units to service Vostok Oil project
09:27 MABUX: Bunker Market this morning, Nov 26
09:24 Oil prices rise close to the level of March
09:10 Baltic Dry Index as of July 7
09:01 BPA calls for government to back a better connected Britain

2020 November 25

18:53 US to impose tough Port State Control measures on Cyber risk management
18:37 CMA CGM to launch SEAPRIORITY EXPRESS service connecting Yantian with Los Angeles