• 2020 November 30 09:59

    MABUX: Bunker market this morning, Nov.30

    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) demonstrated slight irregular changes on Nov.27:

    380 HSFO - USD/MT - 326.40 (-0.49)

    VLSFO - USD/MT – 393.00 (-1.00)

    MGO - USD/MT – 460.54 (+0.79)

    Meantime, world oil indexes increased on Nov.27 ahead of an OPEC+ meeting.

    Brent for January settlement increased by $0.38 to $48.18 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for January rose by $0.60 to $45.53 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $2.65 to WTI. Gasoil for December delivery added $2.50.

    Today oil indexes slight down as the market waits to see if OPEC+ will extend supply caps in January 2021.

    The OPEC+ ministers are scheduled to meet on November 30 and December 1, and rumors state that they are leaning towards delaying 2021’s planned increase in oil output. It is likely, that the alliance will choose to delay the 2-million bpd tapering decision on November 30 by a quarter, from January 1 to April 1. Informal talks between the ministers happened on November 28. Most participants in discussion supported maintaining production curbs at current levels into the first quarter, but met opposition from the United Arab Emirates and Kazakhstan Iraq. They would like the restrictions to be expired, as their oil-dependent economies have been feeling the pinch of both low prices and low production volume. If the existing agreement is revised this week, producers will restart about 1.9 million barrels a day of halted output, potentially pushing the global market back into surplus and undermining the recent surge in crude prices.

    On Nov. 26 Nigeria's President Muhammadu Buhari also said his country needed to produce more oil to support its economy and build infrastructure for its sizeable population, many of whom are poor. He urged OPEC to consider that when sharing oil production cuts. Nigeria, earlier this month, asked OPEC to reevaluate its oil production quota by categorizing its Agbami field as condensate. In response, Algeria, which currently holds the OPEC presidency, said any attempt to change oil production quotas could lead to oil market collapse.

    Both of main oil benchmarks were up by almost 7% over the last week. These gains happened after positive news on a possible coronavirus vaccine from AstraZeneca and others dominated the headlines. Nevertheless, doubts have come up over AstraZeneca’s “vaccine for the world”, with many scientists sounding cautious over the trial results. At the same time, even if a successful vaccine rollout should break the link between infection and mobility, global oil demand will likely only reach its pre-pandemic run rate by the middle of 2022.

    Positive signs for demand continue to emerge from China, with at least one fuel supplier already gearing up for an expected surge in air travel ahead of the Lunar New Year holiday. Meanwhile, Chinese refiners may ramp up fuel shipments in December after they received more export quota and as returns from making diesel improve in Singapore.

    Moreover, the China Manufacturing Purchasing Managers Index (PMI) has risen faster than expectations, at 52.1 as opposed to a forecast 51.5. China, the world's second-largest economy and top oil importer, expanded factory activity at its fastest in more than three years in November, keeping on track to be the first major economy to fully recover from the coronavirus crisis.

    Alongside strong demand from Asia, there are signs consumption is also gradually improving elsewhere. Foot traffic in U.S. airports hit the highest since March before the Thanksgiving holiday, though it remains about 1.5 million people lower year-over-year, according to data from the U.S. Transportation Security Administration.

    We expect bunker prices may demonstrate upward changes today: 1-3 USD up for IFO and 2-4 USD up for MGO.


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