• 2020 December 2 09:25

    MABUX: Bunker market this morning, Dec. 2

    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 Dec.01:

    380 HSFO - USD/MT - 327.13 (+0.15)

    VLSFO - USD/MT – 395.00 (+1.00)

    MGO - USD/MT – 461.38 (-0.98)

    Meantime, world oil indexes declined on Dec.01 as OPEC+ failed to reach an agreement regarding production cuts in 2021, with the three most influential members all disagreeing on how to proceed.

    Brent for February settlement decreased by $0.17 to $47.42 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for January fell by $0.79 to $44.55 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $2.87 to WTI. Gasoil for December delivery lost $0.75.

    Today oil indexes continue to slide down hit by a surprise build in oil inventories in the United States and as OPEC+ delayed a formal meeting to decide whether to increase output in January.

    The market was waiting for the decision of the OPEC+ to freeze output at its current level for at least another several months, rather than raise it by 1.9 million barrels a day, as had been foreseen when the group last met. However, the United Arab Emirates, reportedly supported by non-OPEC member Russia, had floated the idea of raising production by 500,000 barrels a day from January 1.

    The failure to agree on an output level for OPEC as a group meant that it pushed back until Thursday a final decision in concert with Russia and other non-OPEC members. Additional supply would undermine a recent rally which saw prices soar about 27% in November, and some nations are concerned about lower prices as demand remains weak and COVID-19 infections soar. However, the United Arab Emirates (UAE) said this week that even though it could support a rollover, it would struggle to continue with the same deep output reductions into 2021. Meanwhile non-OPEC+ member Norway's oil output curbs, in place since June, are set to end on Dec. 31, which could further dent prices.

    U.S. crude inventories rose by 4.1 million barrels last week, according to the American Petroleum Institute (API), after a build of 3.8 million barrels the previous week. Gasoline and distillates inventories rose by 3.4 million and 334,000 barrels. The build comes a day ahead of the official government report expected to show weekly U.S. crude supplies increased by about 2.4 million barrels last week. 

    Global demand for oil is running about 5 million to 6 million barrels per day (bpd) below pre-coronavirus crisis levels, according to Gunvor trading house. It is also said that the market would not recover to 2019 levels for at least a year and OPEC with its allies were likely to prolong existing production cuts into the first quarter of 2021. Demand plunged by almost a third and crude prices crashed in April as 4 billion people were placed under some form of lockdown to contain the spread of the novel coronavirus. A recovery in fuel consumption since June has stalled as major European states lock down to combat a second wave of COVID-19 infections. The vaccine will not change the realities on the ground for the next 5-6 months.

    We expect bunker prices may demonstrate slight downward changes today: 1-3 USD down for IFO and 1-3 USD down for MGO.


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