• 2020 November 25 09:48

    MABUX: Bunker Market this morning, Nov 25

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

    Oil rose about 4% on Tuesday to touch highs not seen since March as a third promising coronavirus vaccine raised hope for fuel- demand recovery and U.S. President-elect Joe Biden began his transition to the White House.

    Brent crude settled at $47.86 a barrel, gaining $1.80, or 3.9%. U.S. West Texas Intermediate crude settled at $44.91 a barrel, rising $1.85 or 4.3%. Both benchmarks ended at their highest close since March 5.

    AstraZeneca on Monday said its COVID-19 vaccine was 70% effective in trials and could be up to 90% effective, giving the fight against the pandemic another potential vaccine after positive results from Pfizer-BioNTech and Moderna.

    However, the vaccine will not be readily available for several months, meaning people will likely restrict travel and other activities through next year to try to slow the spread of the disease.

    “The petroleum complex is the vaccine trade,” said John Kilduff, partner at Again Capital in New York. “Until we can see the other side of the pandemic, the market is going to be mired in slack demand that is going to keep the overhang extensive.”

    The coronavirus pandemic, coupled with the collapse of an OPEC-led output pact, sent prices crashing in March.

    After the collapse of that output pact led to a brief Saudi Arabia-Russia price war, the Organization of the Petroleum Exporting Countries and allies agreed a new deal on record production cuts to support prices.

    The group known as OPEC+ is expected to roll over those cuts into 2021 after meeting Nov. 30 to Dec. 1, following technical talks this week.

    Oil prices pared gains slightly in post-settlement trade after the American Petroleum Institute, an industry group, reported U.S. crude inventories rose by 3.8 million barrels in the week to Nov. 20 to about 490 million barrels, compared with analysts’ expectations in a Reuters poll for a build of 127,000 barrels.

    Official U.S. government crude stocks data will be released today Wednesday.

    Oil rose for a fourth straight day on Wednesday, shrugging off an industry report showing a higher-than-unexpected rise in U.S. crude stockpiles and extending a rally driven by hopes that a COVID-19 vaccine will boost fuel demand.

    Brent Crude was up 54 cents, or 1.1%, at $48.40 a barrel by 0247 GMT, having risen almost 4% in the previous session. West Texas Intermediate crude gained 47 cents, or 1.1%, to $45.38 a barrel, after rising more than 4% on Tuesday.

    Both contracts are at their highest since early March and have rallied nearly 10% in the last four days.

    “The broader market is in de-risk mode as we now have three effective vaccines that can combat the virus,” said Kevin Solomon, energy economic analyst at StoneX.
    However, any viable vaccine is not likely to be ready for mass use in the next few months, meaning lockdowns and travel restrictions will be in place into next year.

    That makes it likely that OPEC+, which groups the Organization of the Petroleum Export Countries (OPEC) and allies including Russia, will continue production cuts into 2021 after a meeting set to start on Nov. 30 following technical talks this week.

    OPEC+ producers have been withholding supplies to support prices after pandemic lockdowns earlier this year caused an evaporation in demand.
    They are currently due to increase production by 2 million barrels per day -- about 2% of global demand before the pandemic -- from January.

    Oil Future close 24th November,
    Brent crude:          $ 47.86 (+1.80) /brl          FM delivery Jan (FM=Front Month)
    Light crude (WTI): $ 44.91 (+1.85) /brl          FM delivery Jan
    Gasoil ARA;           $ 388.75 (+18.50) /mton   FM delivery Dec
    NY Harbor Ulsd:     $ 418.54 (+15.09) /mton  FM delivery Dec

    Oil Futures trading at GMT 07.00; Brent: $+0.38 WTI: $+0.30. – Tendency upward.

    Fuel oil prices are expected to increase in big numbers today like plus 12-14 USD/MTON. (Fuel Oil, means 380 HS and VLSFO together), as well as MGO – 18 USD/MTON and for NY Harbor ULSD an increase of 15 usd/mton today.

    All prices are based on Oil Future close yesterday evening Tuesday.




2021 January 25

12:13 Chinese ports container throughput increases by 1.2% to 264.3 million TEU in 2020
11:38 Calls at ports of Sakhalin, Kurils and Kamchatka in 2020 grew by 4.4%
11:04 Panama Canal signs MoUs with Panama Ports Company and PSA Panama International Terminal to optimize supply routes for COVID-19 vaccine distribution
10:47 MABUX: Bunker market this morning, Jan 25, 2021
10:12 Throughput of Chinese sea and river ports in 2020 climbed by 4.3% YoY
10:10 The LNG-powered CMA CGM JACQUES SAADE makes her first call at Le Havre
09:51 Rosmorport appoints Aleksandr Smirnov as Acting General Director
09:30 Crude oil prices start this week with a decrease
09:16 Baltic Dry Index as of January 22

2021 January 24

16:37 Boluda Towage acquires Dutch Towage & Salvage Company Iskes
15:13 MARAD announces notice of funding opportunity for America's small shipyard grant program
14:39 Greensea receives US NAVY award to advance Standoff Command and Control
14:18 USCG assists 7 people after boat collision near Fort Pierce
13:42 Contract awards within Renewable Energy and Subsea
12:32 RightShip and INTERCARGO announce important new quality standard for dry bulk sector to be governed by new NGO
11:26 V.Group announces new appointment
10:56 Siem Car Carriers' fleet continues to grow with Super-Eco, LNG powered PCTC vessels

2021 January 23

16:31 DNV GL awards AIP to KSOE for wing sail propulsion system
15:23 Boomsma Shipping installs and sails off with two eConowind Flatrack VentiFoils
14:51 HHLA acquires majority share of automation specialist iSAM AG
13:18 MPA announces 30-day suspension for pleasure craft, ADVANT, for large social gathering on board
12:42 Puerto Aguadulce hits 1 million TEU milestone
11:36 Diana Shipping announces time charter contract for M/V Calipso with Viterra
10:53 Bahri Ship Management receives ISO 45001 certification for occupational health and safety

2021 January 22

18:00 Rosmorport's icebreaker Mudyug starts providing icebreaking assistance in the Baltic Sea
17:36 Andrey Lavrishchev appointed as head of Federal Marine and River Transport Agency
17:13 Aleksandr Poshivay appointed as Deputy Minister of Transport of the Russian Federation
16:34 Rosmorport starts providing geodesic and hydrographic services in the water area of Petropavlovsk-Kamchatsky seaport
16:05 APM Terminals Gothenburg offers certified climate impact calculations to customers
15:49 Sredne-Nevsky Shipyard commences outfitting of yet another minesweeper of Project 12700, Pyotr Ilyichov
15:21 Norsepower installs first tiltable Rotor Sails on Sea-Cargo Ro-Ro
14:58 Container terminal in Świnoujście is in line with sustainable development vision
14:32 Cargo turnover of NCSP Group in 11M’2020 totaled 101.4 million tons, down 21.2% YoY
14:07 Petersburg Oil Terminal in 2020 increased shipments of oil products by 16.6%
14:03 Jan De Nul adds two new vessels to its fleet
13:45 DHT Holdings announces acquisition of two VLCCs
13:29 Iridium partner MetOcean Telematics provides SaR buoys to the USCG
12:52 Havyard develops hydrogen zero-emission vessels in new segment
12:11 THE Alliance announces Transatlantic Service Network adjustments for 2021
11:30 Rosmorport successfully completed formation of Ultramar terminal’s water area
11:06 Training ships Nadezhda and Professor Khlyustin welcome first cadets of 2021 season
11:05 Inmarsat passes 10,000-vessel fleet xpress installation milestone as data demand accelerates maritime digitalisation
10:39 Scottish Ports Group welcomes Scottish Goverment's establishment of 'Greenports'
10:21 Throughput of Kaliningrad port in 2020 fell by 6% Y-o-Y
10:02 MABUX: Bunker market this morning, Jan 22, 2021
09:48 Bunker market sees mixed price movements at the Port of Saint-Petersburg, Russia (graph)
09:30 Crude oil prices decrease amid aggravation of the epidemiological situation
09:12 Baltic Dry Index as of January 21

2021 January 21

18:07 Port of Houston awarded new start for Ship Channel
17:50 Throughput of port Vyborg in 2020 fell by 46% Y-o-Y
17:27 Rolls-Royce secures research contract with US Navy to develop innovative debris detection technology
17:03 Galeon Yachts announce new outbourd model
16:42 Throughput of port Vysotsk in 2020 fell by 4% Y-o-Y
16:32 Jan De Nul Group is the first dredging company to carry out 100% sustainable beach replenishments in Belgium
16:23 Yaskawa Environmental Energy develops a permanent magnet propulsion system for superyachts
16:09 MABUX Bunker Weekly Outlook, as of Jan 21, 2021
16:00 Throughput of port Primorsk in 2020 fell by 19% Y-o-Y
15:36 Bunker market see mixed price movements in the Far East ports of Russia (graph)
15:13 Battle stations for boat-handling systems
14:58 Port of Ust-Luga throughput in 2020 declined by 1% Y-o-Y