• 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.




2021 June 16

18:02 Brittany Ferries eyes zero-emission, sea-skimming ‘flying ferries’
17:41 Keel-laying ceremony held for lead icebreaking LNG carrier ordered by SCF from Zvezda for Arctic LNG 2
17:20 Port of Southampton boosts quayside infrastructure with new airbridge
16:42 Amphibious Energy and CORROSION join forces to launch the ICCP-POD
16:38 Rosmorport’s Far Eastern Basin Branch receives navigation equipment facility in Posyet seaport
16:15 APL announces additional Peak Season Surcharge from Asia to U.S.
15:43 Petersburg Oil Terminal obtains permit to put into operation its 40,000-cbm tank
15:14 New Helicopter Operations Guide from ICS helps crews prepare for the unexpected
14:46 Rosmorport’s Azov Basin Branch accepts dredger Dniester and dredging barges Deltovaya 10 and Deltovaya 11
14:14 ABS releases guidance on the potential of hydrogen as a marine fuel
13:50 Throughput of Murmansk Sea Fishing Port in 5M’2021 fell by 2.8% YoY
13:27 COSCO confirms Thordon seawater lubrication for 8 newbuild general cargo ships
13:13 Kalmar and SAAM continue collaboration with repeat order for 26 Ottawa T2 terminal tractors
12:42 PortNews issues its annual analytical report ordered by RF Ministry of Industry and Trade
12:18 Avikus becomes Korea's first company to successfully demonstrate fully autonomous navigation
12:06 The DFDS ferries in Copenhagen will be receiving shore power
11:35 Aleksey Tkachenko takes helm of Coal Sea Port of Shakhtersk
11:16 Wärtsilä supports EU and Waterborne Technology Platform partnership to reach zero emissions by 2050
11:02 Fugro minimises in-person inspections with new floating offshore wind real-time monitoring solution
10:56 Sweden’s ports collaborate for safe and speedy restart of important cruise ship tourism
10:34 Port of Los Angeles surpasses 1 million container units in single month
10:09 Throughput of Kaliningrad port in 5M’2021 fell by 13% Y-o-Y
09:45 Oil prices rise on reduction of US reserves
09:27 Baltic Dry Index as of June 15
09:12 The U.S. shipyards support $42.4 billion in gross domestic product
08:52 MABUX: Global bunker prices may turn into slight upward evolution on Jun 16
08:49 The National Retail Federation calls on White House to address port congestion challenges

2021 June 15

18:36 Port of Rotterdam Authority and RRP launch joint study into Delta Corridor pipelines between the Netherlands and Germany
18:14 Throughput of port Primorsk in 5M’2021 fell by 17% Y-o-Y
17:53 Average spot market price for Russian M100 product rose to RUB 22,962 pmt
17:32 Russia’s State Duma passes bill on nearshore fishery
17:05 Ørsted plans carbon capture at Avedøre Power Station as part of the Green Fuels for Denmark project
16:50 Throughput of port Kavkaz in 5M’2021 fell by 23% Y-o-Y
16:35 TECO 2030 to cooperate with Chart Industries, Inc. on developing marine carbon capture and storage solutions
16:05 EPS joins ammonia bunker study
15:35 NYK to build 12 LNG-fueled PCTCs
14:51 Throughput of port Vyborg in 5M’2021 rose by 34% Y-o-Y
14:27 Throughput of port Vysotsk in 5M’2021 fell by 10% Y-o-Y
13:49 DNV launches new Compliance Planner tool for easy regulatory tracking and compliance
13:48 Throughput of Taganrog port in 5M’2021 climbed by 16% Y-o-Y
13:20 Krasnoye Sormovo shipyard delivers dry cargo carrier Viktor Andryukhin
12:56 Port of Ust-Luga throughput in 5M’2021 fell by 3% Y-o-Y
12:35 RF Government approves draft law on regulation of offshore handling operations
12:33 Major contract for Payra Port’s next dredging phase awarded to Jan De Nul
12:07 Samskip Multimodal secures key approval to restart trailer transport by rail through Denmark
11:49 Throughput of Port St. Petersburg climbed by 2% in 5M’2021
11:28 VIKING signs contract for five more Hellenic Coast Guard ambulance boats
11:02 Port of Helsinki throughput in January-May 2021 rose by 7.4% YoY
10:52 2 MOL-operated vessels recognized by Japan Meteorological Agency for ongoing contributions to weather research and forecasting
10:37 Throughput of port Shanghai (China) in 5M’2021 rose by 15% YoY
10:14 APM Terminals Yucatan 2 years without accidents
09:59 Institute for the World Economy study underlines the importance of the Kiel Canal for all of Germany and Europe
09:53 Port of Ventspils throughput in January-May 2021 fell by 12% YoY
09:35 Oil prices rise driven by demand prospects
09:18 Baltic Dry Index as of June 14
08:47 MABUX: Global bunker prices do not have firm trend on June 15

2021 June 14

17:46 Fincantieri and MSC celebrate the start of construction of “Explora I”,
15:52 ABS and 22 industry players to study ammonia as an alternative marine fuel
15:18 ICS Guidance for Ship Operators and Roadmap for vaccination of seafarers
14:09 Bollinger submits proposal for U.S. Coast Guard Heritage-class offshore patrol cutter