• 2020 November 12 10:01

    MABUX: Bunker market this morning, Nov 12

    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 firm upward evolution on November 11:

    380 HSFO: USD/MT 307.94 (+5.58)
    VLSFO: USD/MT 368.00 (+10.00)
    MGO: USD/MT 432.50 (+6.89)

    Meantime, world oil indexes also rose on Nov.11 on hopes of an effective COVID-19 vaccine and an industry report showing U.S. crude inventories fell more than expected.

    Brent for January settlement rose by $0.19 to $43.80 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for December delivery added $0.09 to $41.45 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $2.35 to WTI. Gasoil for November delivery gained $7.50 – $358.50.

    Today morning oil indexes turned into moderate downward movement.

    Vaccine optimism is tempered by the negative short-term outlook, with Covid-19 cases out of control in the U.S. and in Western Europe. There’s still the problem of the second wave and that’s going to affect demand in the near-term.

    American Petroleum Institute data released on Nov.10 showed a 5.15 million barrel drop in crude stocks last week. The U.S. government’s inventory data will be published on Nov.12 this week, a day later than usual, owing to the Veterans’ Day holiday on Nov.11.

    The International Energy Agency said, renewable power generation capacity will increase by 7 percent this year despite a 5-percent forecast decline in global energy demand. The agency also said the use of biofuels in industrial activity and transportation will decline this year, but the increase in renewables use will be strong enough to offset it, with the net increase in renewable energy demand seen at 1 percent.

    OPEC in turn once again cut estimates for the amount of crude it will need to provide in the coming year as the return of measures to contain the global pandemic hits fuel use. The group reduced forecasts for the volume of crude it needs to pump this quarter by 960,000 barrels a day to 26.51 million a day. This follows significant downgrades in the past two months. OPEC’s new downward revision of its oil demand forecasts—the fifth consecutive this year—is giving the market all the more reasons to speculate that the OPEC+ group needs to roll over the 7.7-million-bpd cut into 2021, instead of easing it by 2 million bpd from January.

    Chinese refineries will likely have to lower utilization rate in 2021 amid growing refining capacity and limited oil product outlets overseas. The country is expected to add 440,000 bpd or 22 million mt/year of new capacity, set to be in commercial operation in 2021, in addition to the 260,000 bpd expected to come online in 2020. However, China’s oil product demand in 2021 would only recover to the level in 2019 while demand in the overseas [markets] would remain lower than that in 2019 due to the ongoing pandemic. As a result, the additional product supplies would have nowhere to go, so refineries have to cut utilization rate.

    India's energy demand is beginning to improve as businesses reopen. India, along with China, is expected to be the main driver of oil demand in the coming years. The country is the world's third-largest oil consumer in the world, trailing only the United States and China. Recently, India invited foreign companies to invest in an expansion of its strategic petroleum reserve capacity as it seeks to boost its energy security by storing more oil locally.

    Global LNG supply is expected to turn tight gradually in the next five years due to the delay of final investment decisions on many LNG projects, which would ultimately lift prices. It was expected that there would be 60 million mt/year of LNG projects to make Final Investment Decision (FID) in 2020 earlier, but many of these projects were said to have been either delayed or cancelled due to COVID-19. The move will surely affect LNG supply in the next 4-5 years. On the demand side, it is expected that COVID-19 impact on LNG demand would be mainly in 2020, with global LNG demand estimated to fall around 10 million-16 million mt, or 4% year on year.

    We expect bunker prices will not have any firm trend today and may change irregular: IFO – in a range of plus-minus 1-3 USD, MGO – in a range of plus-minus 2-6 USD.




2021 January 17

17:19 Coast Guard, TCI Police rescue 159 people off Turks and Caicos
16:49 Svitzer Australia takes delivery of second of three new tugs for Mid West Ports and Port of Geraldton
15:34 CMA CGM strengthens its customer offer
14:29 GTT obtains AiP from BV for the NO96 containment system application as LNG fuel tank for ULCVs
13:42 Poty of Los Angeles cargo reaches 9.2 million TEUs in 2020
12:16 OOCL presents 2021 Ocean Alliance products
10:49 Hapag-Lloyd announces PSS on Turkey and Greece to USA trade

2021 January 16

15:39 New ship Silver Dawn floats out in Ancona.
14:31 Signing of MoU in relation to 2 units of 250 feet crane barges
13:28 CMA CGM to apply FAK rates for North Europe to Gulf and Red Sea trade
12:49 DuPont Clean Technologies to develop scrubbing project with BELCO® technology to control the emissions of Empresa Nacional de Petróleo (ENAP)
10:35 Hapag-Lloyd announces blank sailings on Europe - Asia trade
09:11 Golar LNG and Stonepeak Infrastructure Partners to sell 100% of Hygo Energy Transition Ltd. to New Fortress Energy

2021 January 15

18:15 Organic fertilizers and biogas from biowaste in the Helsinki region – commercial use of the Lohja biogas plant started up
18:04 New Speakers and Sponsors announced for Unmanned Maritime Systems Technology virtual conference
17:51 High reliability of Limburg Express requires expansion
17:41 Gulf of Guinea records highest ever number of crew kidnapped in 2020, according to IMB’s annual piracy report
17:38 Diana Shipping announces increase in tender offer price for its shares of common stock and extension of expiration date
17:29 OCEAN Alliance Day 5 Product signing ceremony
17:08 i4 Insight partner with FNT to integrate Condition Monitoring service
17:06 Throughput of Rostov-on-Don port in 2020 grew by 13% Y-o-Y
17:03 The effects of the coronavirus epidemic prevention regulations on Finnlines passenger traffic
16:42 Launching of Viking Glory slated for Jan 26
16:28 Carisbrooke Shipping and SMT Shipping partner with Nautilus Labs for collaboration to optimize fleet performance
16:01 Tallink Grupp appoints new Managing Director for Swedish subsidiary Tallink Silja AB
15:17 USCG cutter Joseph Gerczak to increase maritime presence in Pacific
14:47 First steel cut for new Carnival Celebration, next Excel-class ship set to debut from PortMiami in 2022
14:22 Zvezda Shipyard starts cutting steel for third MR product carrier
13:57 Bunkering of a new-generation LNG-powered container ships begins in Rotterdam
13:26 Holland America Line opens bookings for Europe 2022 cruises - four ships span the region on itineraries ranging from 7 to 21 days
13:08 SCF takes delivery of new LNG carrier to expand long-standing partnership with Shell
12:49 Anatoly Meshcheryakov appointed as Director of Transport Department
12:34 BW Offshore: Incident on FPSO Espoir Ivoirien
11:21 Sakura Kuma named as new managing director of APM Terminals Japan
10:56 Turnover of DeloPorts terminals grew by 36% in 2020
10:32 MABUX: Bunker market this morning, Jan 15, 2021
10:04 Jinling hands over Grimaldi Group’s second GG5G Class hybrid ro-ro
09:57 Biggest Dutch project for CO2 reduction, Porthos, is on schedule
09:55 Bunker prices show no significant changes at the Port of Saint-Petersburg, Russia (graph)
09:34 Crude oil prices continue decreasing in expectation of COVID-19 related lockdowns to affect the demand
09:19 Baltic Dry Index as of January 14

2021 January 14

18:25 Throughput of Russian seaports in 2020 fell by 2.3% Y-o-Y
18:03 Torvald Klaveness First Steamship joins Baumarine by MaruKlav
17:48 Exports of Transneft oil via seaports fell by 21.3%
17:31 Wärtsilä SmartMove Suite sets sail with the American Steamship Company
16:47 Marine Administration of the Russian Federation extends validity of seafarers’ documents
16:23 CMA CGM announces Empty Equipment Imbalance Surcharge for cargo from North Europe, United Kingdom, Baltic States, Scandinavia & Russia to Nigeria
16:18 Bunker Outlook, Jan 14, 2020
16:03 Contecon Manzanillo caps off 2020 with 1M TEU milestone
15:55 Enhanced requirements for shore-based personnel boarding vessels in the Port of Singapore
15:41 Dredging fleet of Rosmorport’s Astrakhan branch expanded with dredging convoy
15:23 Equinor selected for largest-ever US offshore wind award
15:03 Konecranes makes first UK installation of S-series crane
14:44 Bunker prices increased in the Far East ports of Russia (graph)
14:22 Abu Dhabi Ports to provide container transportation services between Musaffah-based facility and Khalifa Port
14:03 North Sea Port feels reports 63.5 million tons of cargo transhipment from maritime shipping in 2020
13:40 Port of Riga saw cargo structure changes in 2020
13:23 Kalmar’s straddle carrier technology to enhance operational capabilities at Iles de la Réunion
13:21 Port Houston annual container volumes near record in December 2020
12:48 Throughput of Sovetskaya Gavan port surged by 83% in 2020