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  • MABUX: Bunker market this morning, Nov 06
  • 2020 November 6 10:25

    MABUX: Bunker market this morning, Nov 06

    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) continued slight upward trend on November 05:

    380 HSFO: USD/MT 296.50 (+3.11)
    VLSFO: USD/MT 345.00 (+6.00)
    MGO: USD/MT 404.89 (+1.62)


    Meantime, world oil indexes declined slightly on Nov.05 with attention turning back to the ongoing rise in COVID-19 cases around the world, underlining worries about energy demand as economies slow.

    Brent for January settlement decreased by $0.30 to $40.93 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for December delivery fell by $0.36 to $38.79 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $2.14 to WTI. Gasoil for November delivery lost $0.50 – $327.00.

    Today morning oil indexes continue firm downward trend.

    Democrat Joe Biden moved closer to victory in the U.S. presidential race as election officials tallied votes in the handful of states that will determine the outcome and protesters took to the streets. Incumbent President Donald Trump alleged fraud, filed lawsuits and called for recounts in a race yet to be decided two days after polls closed. With tensions rising, Trump's supporters gathered outside some election offices, following rumors that votes were not being counted. Anti-Trump protesters in other cities demanded that vote counting continue. Supporters of both candidates expressed anger, frustration and fear with little clarity on when the election would be resolved. The uncertainty in vote results sets up the potential upward driver for fuel indexes.

    Besides, current vote counting and trends suggest the Republicans are poised to retain control of the U.S. Senate, while the Democrats will hold a slimmed majority in the House of Representatives. A divided Congress could hamper Biden’s plans on climate change, economic stimulus and the easing of sanctions on oil producer Iran.

    Italy posted its highest one day of infections on Nov.05, while the United States surpassed 100,000 infections in a day last week, a record. The Bank of England increased its bond-buying stimulus as it prepared for economic damage from new coronavirus lockdowns and the looming risk of Brexit. The bank said Britain’s economy was set to shrink a record 11% over the course of 2020 overall.

    Saudi Arabia cut most oil pricing for its Asia buyers as a resurgence in the coronavirus clouds the outlook for energy demand. State oil producer Saudi Aramco decreased pricing for December shipments of Arab Light crude for Asia, its largest regional market, by 10 cents a barrel to a 50-cent discount to the benchmark. Aramco had been expected to make only slight changes in monthly pricing for the grade. Meantime, Aramco cut all December crude pricing to the U.S. and raised all prices for the month to northwest Europe and the Mediterranean region.

    China’s crude oil imports have fallen in recent months from their record high of nearly 13 million barrels per day (bpd) in June, although imports continue to be considerably higher compared to last year’s monthly levels. Having hit an all-time high in June, Chinese crude oil imports have declined over two consecutive months by 1.77 million bpd to 11.21 million bpd in August. It is expected that Chinese imports will not be as strong in the fourth quarter, as storage space fills up and demand for fuels in the regions it exports them to remains weak. In any case, China, will continue to have a significant impact on the oil and fuel markets in the coming months, as most of the rest of the world continues to battle a second coronavirus wave that has stalled the already fragile global oil demand recovery.

    Asian refiners’ profit from producing very low sulphur fuel oil (VLSFO) climbed to six-month highs this week as output cuts keep supplies tight while demand for the shipping fuel at most ports are back at pre-pandemic levels. The trend is likely to stay for the rest of the year, encouraging Asian refiners to prioritise VLSFO production along with petrochemical feedstock naphtha, where demand has also firmed. Unlike other refined fuels such as gasoline, gasoil and jet fuel, residue fuel demand in shipping and power generation has been relatively stable.

    The Philippines could begin exploring for oil and gas in the disputed South China Sea even without a Chinese partner. Last month, the Philippines lifted a moratorium on oil and gas exploration in the South China Sea. The moratorium was imposed when the Philippines took China to court over the long-running dispute over territorial water claims in the South China Sea. A court in The Hague in 2016 ruled against China’s claims and in favor of the Philippines. China, however, has not acknowledged the ruling, which has heightened tensions in the area.

    We expect IFO bunker prices may fall by 1-3 USD today while MGO prices may lose 1-4 USD. Forecast for today: downward trend.




2022 January 25

18:10 Ports of Los Angeles & Long Beach postpone Container Excess Dwell Fee
17:55 Joint Russian-Chinese naval exercise Peaceful Sea-2022 took place in the Arabian Sea
17:36 Broad scope of Wärtsilä power solutions selected for gas-fuelled ferry trio
17:26 ICTSI's Cavite Gateway Terminal beefs up operations
17:04 BLRT Grupp is constructing a unique floating exhibition centre for Norway
16:45 Port of Los Angeles launches first-of-its-kind cyber resilience center
16:25 IDFA, Port of Los Angeles, and CMA CGM form joint initiative to advance U.S. dairy exports
15:52 MOL announces the world's first successful sea trial of autonomous sailing on a commercial container ship voyage
15:13 Damen commissions Rolls-Royce business unit to supply automation solutions for German Navy’s F126 frigates
15:02 Valenciaport and COSCO collaborate in the automation of the delivery of container seals
14:41 Flag-raising ceremony held on Sibir, first serial nuclear-powered icebreaker of Project 22220
14:02 7.6 million tonnes of goods handled in record quantities at the Port of Kiel
13:36 Glavgosexpertiza approves installation of NSR maritime distress safety system at “Dickson” station
13:12 European shipowners support EU parliamentary proposal on commercial operators and a sector-dedicated fund
12:54 Damen signs up ERMA FIRST to supply world’s smallest Ballast Water Treatment System
12:30 TotalEnergies launches Port of Marseille Fos’ first ship-to-containership LNG bunkering operation
12:11 OOCL posts results for 2021
11:24 RF Accounts Chamber found Russian IWW potential not to be used in full
11:00 European Parliament proposed amendments to EU ETS put Green Deal goals at risk, says World Shipping Council
10:17 Saimaa Canal Commission grants permit to Transport Infrastructure Agency for construction in Saimaa Canal lease area
09:43 Baltic Dry Index as of January 24
09:28 Crude oil prices continue moderate increase
09:15 MABUX: Global bunker prices to trend lower on Jan 25

2022 January 24

18:22 Nakilat takes delivery and management of fourth LNG carrier newbuild
18:09 CMA CGM and TotalEnergies launch Port of Marseille Fos’ first ship-to-containership LNG bunkering operation
17:55 Detachment of RF Navy’s Baltic Fleet went to sea to fulfill tasks of long-distance campaign
17:32 Raiffeisenbank opens USD 20 million credit facility for Sea Port of Saint-Petersburg
17:13 GTMaritime guide sets out future of maritime communications
16:50 Glavgosexpertiza approves construction of coal terminal Port “Vera” in Primorye
16:29 Salus Technical introduces its the cloud-based software Bowtie Master
15:58 Tersan shipyard lays down trawler for Magadan based fishing company Tikhrybkom
15:11 Wärtsilä hits methanol milestone with first newbuild engine order
14:30 Sea Port of Saint-Petersburg to take delivery of over 40 units of handling equipment and one 63-tonne crane in 2022
14:01 Dogger Bank announces supplier events for O&M phase
13:44 BW Offshore signed an agreement for the sale of the FPSO BW Joko Tole
13:21 Loko-Bank shareholder increased his share in FESCO to 26.52%
13:07 Royal Dutch Shell plc changes its name to Shell plc
12:44 FESCO increases number of transit container trains from CPV almost twice in 2021
12:23 EdgeTech rolls out the 6205s2 Swath Bathymetry & Side Scan Sonar System
12:18 PGS secures Northern Lights CO2 storage acquisition contract
11:52 Maersk Drilling secures 21-month contract with TotalEnergies
11:17 Second episode of a creative multimedia project named The Ecologist was launched in cooperation with Van Oord
10:49 Heerema announces contract with McDermott for Saudi Aramco’s Marjan Increment Program
10:42 Eastern Shipbuilding completes major infrastructure improvement project to support OPC program
09:28 Crude oil prices rise as demand increases
09:11 Baltic Dry Index as of January 21
08:37 MABUX: No firm trend on Global bunker market on Jan 24

2022 January 23

14:29 Record figures in Polish ports
13:52 Coast Guard to close southern Green Bay for commercial traffic
12:36 CMHI shipyard hosts a keel-laying ceremony for Ulstein designed expedition cruise vessel ‘Ocean Albatros’
11:47 SGMF releases updated version of LNG as a marine fuel – Safety and Operational Guidelines – Bunkering'
11:08 James Fisher Renewables secures high voltage safety management commissioning contract from Iberdrola’s Baltic Eagle offshore win
10:57 BW Ideol secures close to 1GW of offshore floating wind acreage in ScotWind leasing round
09:51 AIDA named Top Employer again

2022 January 22

14:06 Crowley names Marcus Jadotte as Senior VP, Government Relations
13:29 Kongsberg Digital joins the NorthWind project to develop digital twin technology for offshore wind
12:41 New year boost for MYCRANE as four lifting experts join the team
12:07 Mitsui O.S.K. Lines, Ltd. and Bombora Wave Power strengthen their collaboration through an investment
11:34 Carnival Cruise Line adding more embarkation enhancements as it commits to current protocols for the foreseeable future
10:54 Indian Register of Shipping strengthens focus on safety of Inland Waterways