• 2020 October 30 09:43

    Bunker Market this morning, Oct 30

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

    Oil Market close yesterday evening
    Stocks rally to pare weekly loss; oil fell further yesterday.

    Crude oil fell again on Thursday as lockdowns in Europe and rising cases elsewhere clouded the energy demand outlook, while stocks rose as Wall Street rallied.

    France and Germany will fall back into coronavirus lockdowns next week, while cases are rising in 47 U.S. states with patients overwhelming hospitals in parts of the country.

    The European Central Bank said it would increase its support for the bloc’s economy amid the pandemic, weighing on the euro even as policy was left unchanged. U.S. gross domestic product soared to a widely predicted record bounce that helped trigger stock buying on Wall Street, enough to halt the rout on equities globally so far this week.

    Concerns hit commodities too, with oil again falling and down about 9% for the week so far. [O/R]
    “As lockdowns begin to bite on demand concerns across Europe, the near-term outlook for crude starts to deteriorate,” said Stephen Innes, chief global market strategist at Axi.

    U.S. crude recently fell 2.97% to $36.28 per barrel and Brent was at $37.77, down 3.45% on the day.

    Uncertainty about Tuesday’s U.S. election also kept traders on edge. Republican President Donald Trump and Democratic rival Joe Biden will rally supporters in the battleground of Florida, visiting the same city hours apart to offer their contrasting approaches to the resurgent coronavirus pandemic.

    The ECB held off on new measures on Thursday but it hinted at action in December, which is likely to keep the euro under pressure.

    The dollar index rose 0.521%, with the euro down 0.61% to $1.1672.

    Spot gold dropped 0.5% to $1,868.21 an ounce. Silver fell 0.47% to $23.30.

    Oil Market today Friday morning
    Oil made a small rebound this morning but is heading down again.

    Global oil prices are heading down after a small rebound on Friday, but are on track for a second monthly fall on growing concerns that the rise in COVID-19 cases in Europe and the United States could hurt fuel consumption.

    “It looks like a dead cat bounce at this stage,” said Jeffrey Halley, senior market analyst, Asia Pacific, OANDA in Singapore.
    “With a European slowdown jeopardising global consumption and the return of Libyan production, the onus must now fall on OPEC+ to reconsider their 2 million barrel per day production increases in January.”

    He added that oil prices are unlikely to sustain any rally in this environment short of a statement from OPEC+.

    The Organization of the Petroleum Exporting Countries and their allies including Russia, a group known as OPEC+, are expected to raise their output by 2 million bpd in January as part of their production agreement.

    However, top producers Saudi Arabia and Russia are in favour of maintaining the group’s output reduction of about 7.7 million bpd currently into next year as renewed lockdowns in Europe are threatening to cool demand again.

    Oil Future close 29th October, 2020
    Brent crude:           $ 37.65 (-1.47) /brl         FM delivery Dec (FM=Front Month)
    Light crude (WTI):  $ 36.17 (-1.22) /brl         FM delivery Dec
    Gasoil ARA;            $ 304.00 (-10.75) /mton  FM delivery Nov
    NY Harbor Ulsd:      $ 335.07 (-7.95) /mton   FM delivery Nov

    Oil Futures trading at GMT 06.17; Brent: $-0.79, WTI: $-0.71.

    Fuel Oil prices may decline again today, down by 13 – 15 USD/MT. (Fuel Oil, means 380 HS plus VLSFO together). MGO and NY Harbor ULSD expected to drop 8 – 11 usd/mton.

    All prices are based on Oil Future close last night Thursday evening.




2020 December 4

20:37 Jan De Nul starts construction of its 5,000 tonnes crane vessel Les Alizés
18:36 RORO carrier continues liner services after fast steel repairs at Niestern Sander
18:20 Sea Port of Saint-Petersburg launches unified platform for data exchange with Russian Railways
18:06 Ørsted completes the construction of the largest in the Netherlands offshore wind farm
17:46 BIMCO: EU ship recycling regime improved but gaps remain
17:26 Hapag-Lloyd announces PSS from Far East to North Europe and Mediterranean
17:04 Zvezda Shipyard lays down shuttle tanker of ARC6 class
16:52 Lloyd's Register to acquire C-MAP Commercial from Navico Group
16:35 WDP builds multimodal mega-distribution centre in North Sea Port
16:05 Volkswagen powers car freighters with used oil from restaurants
15:24 Marvesa and Koole Terminals sign an agreement to build and use a new tank storage terminal in the Port of Rotterdam
15:09 Cargo traffic within Azov-Don Basin of Russia’s IWWs grew by 7.6% in 2020
14:11 CMA CGM announces FAK rates from North Europe to Kenya and Tanzania
13:45 Nefteflot lays down third cruise ship of Project PV20S
13:13 The Finnish Financial Supervisory Authority approves the merger prospectus concerning the combination of Cargotec nd Konecranes
12:24 Kapitan Metsayk icebreaker arrives at Azov seaport
12:01 Austal Australia launches first of two cape class patrol boats for Trinidad and Tobago Coast Guard
11:40 Klaipėdos Nafta joins Lithuanian hydrogen platform
11:19 Bunker prices started decreasing at the Port of Saint-Petersburg, Russia (graph)
11:18 Odfjell SE agrees to acquire Lindsay Goldberg’s stake in Korea terminal
11:09 CMA CGM announces THC for import / export Finland, Sweden, Spain, Italy, Belfast (UK)
10:55 MABUX: Bunker market this morning, Dec.04
10:49 Port of Long Beach prioritizes dual transactions
10:37 NSR cargo traffic grew by 4.2% in 11M’2020
10:00 Online discussion of China’s inland shipping experience to continue on December 9 at joint PortNews/MEB webinar
09:26 Oil prices rise following OPEC+ meeting
09:14 Baltic Dry Index as of December 3

2020 December 3

18:31 ABS, Hyundai Heavy Industries Group and the Marshall Islands Registry JDP creates coating needing just one application
18:11 Lotos shipyard lays down two more dredgers of Project 93.159
18:03 Torqeedo powers Thailands first electric passenger ferry fleet
17:28 Krasnoye Sormovo shipyard delivers dry cargo carrier Alfa Mercury
17:06 Wärtsilä signs 5-year agreement with LMM for the main engines for two VLGCs
17:02 Bunker Weekly Outlook, Dec 03, 2020
16:50 The 1st Hackathon dedicated to innovation in the port sector in Morocco launches from December 18 to January 29
16:37 Timber and forestry products account for 24% of Riga port’s total turnover
16:05 Cargotec’s Board of Directors has decided to initiate a sales process for Navis software business
15:59 Rosatom to establish Marine Operations Headquarters for NSR
15:34 Port of Antwerp tightens regulations regarding byloads inside second-hand vehicles
15:22 Operation of unmanned navigation test basin on Neva river to continue next season
15:04 Maersk Tankers adds four Xihe-owned tankers to its pools
14:24 Equinor and SINTEF enter into a strategic collaboration agreement
14:02 Investment reaps rewards for Pilbara’s ports
13:40 Bunker market sees mixed price movements in the Far East ports of Russia (graph)
13:02 Trafigura becomes a major investor in green hydrogen with H2 Energy
12:34 RF Government drafted decree on providing state support to construction of large-capacity ships
12:01 Busiest month for Port of King’s Lynn in five years
11:55 The study by HTC identifies almost 30 measures that can lead to a reduction in CO2 emissions in the Port of Hamburg
11:29 AS Tallink Grupp published its tatistics for November 2020
11:00 BW LPG enters into agreements to sell two vessels
10:35 Ships of RF Navy's Pacific Fleet completed their visit to Sri Lanka
10:10 Rosmorport takes delivery of self-propelled hopper barge Morskaya
10:02 Soren Toft arrives at MSC as Chief Executive Officer
09:48 MABUX: Bunker market this morning, Dec.03
09:29 Oil prices are slightly down
09:16 Baltic Dry Index as of December 2

2020 December 2

18:37 Rolls-Royce acquires leading supplier of ship control systems Servowatch
18:05 Aker and MAN sign agreement to develop energy-efficient compression solutions for carbon capture and storage applications with heat recovery
17:53 Cargo traffic within Azov-Don Basin of Russia’s IWWs grew by 7% in 11M’20
17:20 Fincantieri finalizes new generation of thrusters
17:15 Hapag-Lloyd announces rates from East Asia (incl. Japan) to North Europe and Mediterranean