• 2020 October 26 09:50

    MABUX: Bunker Market this morning, Oct 26

    The Bunker Review was contributed by Marine Bunker Exchange (MABUX)

    Oil Market close, Friday evening
    Oil fell about 2% on Libyan output, COVID-19 demand concerns.

    Oil fell nearly 2% on Friday, finishing lower for the week, in anticipation of a surge in Libyan crude supply and demand concerns caused by surging coronavirus cases in the United States and Europe.

    Crude prices sank after Libya’s National Oil Corp (NOC) said it lifted force majeure on exports from key ports and output would reach 1 million barrels per day in four weeks.

    “As soon as that came out, the market cratered,” said Bob Yawger, director of energy futures at Mizuho in New York.

    U.S. crude CLc1 settled at $39.85 a barrel, falling 79 cents, or 1.9%. Brent crude LCOc1 settled at $41.77 a barrel, losing 69 cents, or 1.6%. For the week, U.S. crude futures lost 2.5% and Brent futures shed 2.7%.

    Italy and several U.S. states reported record daily increases in infections, while France extended curfews for about two-thirds of its population as the second wave of the COVID-19 pandemic sweeps across Europe.

    “What’s holding us back is the uncertainty about demand - when we’re going to get a vaccine, when things are going to get back to normal, concerns about more shutdowns,” said Phil Flynn, senior analyst at Price Futures Group in Chicago.

    Russian President Vladimir Putin on Thursday said Moscow did not rule out extending OPEC+ oil output cuts, but that assurance did not offset the expectations for rising Libyan output and demand worries, analysts said.

    “They need to say, ‘We are not going to bring back those two million barrels,’” Yawger said.
    OPEC+, which includes Russia and the Organization of the Petroleum Exporting Countries, is due to increase production by 2 million bpd in January 2021.
    U.S. energy companies added five oil rigs to raise the total rig count to 287 in the week to Oct. 23, the highest since May, energy services firm Baker Hughes Co said. The rig count is an indicator of future supply.

    Oil Market today, Monday morning
    Asian shares got the week off to a hesitant start on Monday as surging coronavirus cases in Europe and the United states undermined the global outlook, while China’s leaders meet to ponder the future of the economic giant.

    The U.S. has seen its highest ever number of new COVID-19 cases in the past two days, while France also set unwanted case records and Spain announced a state of emergency.

    That combined with no clear progress on a U.S. stimulus package to pull S&P 500 futures down 0.6%. EUROSTOXX 50 futures eased 0.7% and FTSE futures 0.4%.

    MSCI’s broadest index of Asia-Pacific shares outside Japan inched up 0.1%, still short of its recent 31-month peak. Japan’s Nikkei dithered either side of steady, and South Korea’s main index lost 0.3%.

    Chinese blue chips shed 0.5% as the country’s leaders met to chart the nation’s economic course for 2021-2025, balancing growth with reforms amid an uncertain global outlook and deepening tensions with the United States.

    A packed week for monetary policy sees three major central banks hold meetings. The Bank of Canada and Bank of Japan are expected to hold fire for now, while the market assumes the European Central Bank will sound cautious on inflation and growth even if they skip a further easing.

    Oil prices fell further in anticipation of a surge in Libyan crude supply and demand concerns caused by surging coronavirus cases in the United States and Europe.

    Brent crude futures lost 73 cents to $41.04 a barrel, while U.S. crude also fell 73 cents to $39.12.

    Oil Future close 23rd October, 2020
    Brent crude:          $ 41.77 (-0.69) /brl        FM delivery Dec (FM=Front Month)
    Light crude (WTI): $ 39.85 (-0.79)/brl         FM delivery Dec
    Gasoil ARA;           $ 335.00 (-1.25) /mton  FM delivery Nov
    NY Harbor Ulsd:     $ 354.44 (-2.89) /mton  FM delivery Nov  

    Oil Futures trading at GMT 06.06; Brent: $-0.82, WTI: $-0.80.

    Fuel oil prices are expected to drop USD 4-6 per metric ton. (Fuel Oil, means 380 HS plus VLSFO together). MGO and NY Harbor Ulsd to drop 1 – 3 usd/mton. All prices based on Oil Future close Friday evening. We expect oil prices to continue its downward trend today.




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