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  • MABUX: Bunker market this morning, Dec.04
  • 2020 December 4 10:55

    MABUX: Bunker market this morning, Dec.04

    MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO Gasoil) in the main world hubs) demonstrated upward changes on Dec.03:

    380 HSFO - USD/MT - 326.60 (+2.15)

    VLSFO - USD/MT – 395.00 (+3.00)

    MGO - USD/MT – 463.06 (+2.18)

    Meantime, world oil indexes also increased on Dec.03 on renewed hopes for a U.S. stimulus deal and after major oil producers agreed to increase output by a modest 500,000 barrels per day (bpd) from January.

    Brent for February settlement increased by $0.46 to $48.71 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for January rose by $0.36 to $45.64 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $3.07 to WTI. Gasoil for December delivery added $6.00.

    Today oil indexes continue to rise after major producers agreed to continue to restrain production to cope with coronavirus-hit demand but the compromise fell short of expectations.

    OPEC and Russia on Dec.03 agreed to ease deep oil output cuts from January by 500,000 barrels per day, failing to come to a compromise on a broader policy for the rest of next year. OPEC+ will meet once a month to review conditions and monthly increases will not be greater than 500,000 barrels per day (bpd). Monthly meetings by OPEC+ will make price moves more volatile and complicate hedging by U.S. oil producers. The increase means OPEC+, are set to reduce production by 7.2 million bpd, or 7% of global demand from January, compared with current cuts of 7.7 million bpd. OPEC+ was expected to continue existing cuts until at least March, after backing down from plans to raise output by 2 million bpd.

    In addition to the agreement for adding 500,000 bpd of production back in, OPEC+ members that are laggards in sticking to their production quotas will have to make up the difference between now and March.

    At the same time, higher prices prompted U.S. producers last week to boost output for a third week in a row for the first time since May 2019.

    Demand expectations from the vaccine and U.S. stimulus are also support oil indexes. Republicans in the U.S. Congress struck a more upbeat tone on Dec.03 during coronavirus aid talks as they pushed for a slim $500 billion measure that previously was rejected by Democrats who say more money is needed to address the raging pandemic.

    Oil indexes have jumped higher since early November, when medicals companies Pfizer and Moderna confirmed the efficacy and safety of their vaccines for preventing Covid-19, which traders expect to result in a smart rebound in demand next year.

    We expect bunker prices may demonstrate upward changes today: 1-3 USD up for IFO and 4-6 USD up for MGO.


2021 October 28

18:19 18 MOL-managed vessels earn commendations from Japan Coast Guard
17:58 Frigate Admiral Grigorovich of RF Navy's Black Sea Fleet makes planned transition to far sea zone
17:29 MYCRANE signs MoU with Swiss-based EPCM, PESCO Switzerland AG
17:00 Tersan shipyard (Turkey) hosted flag-raising ceremony for trawler built for Russian customer
16:21 Viking Line provides the best customer experience in the tourism industry
16:12 China ports container volume rises 9.5% from January to September 2021, NCFI slight decrease in October
16:09 OOS Group introduces the SMF
15:46 Shipbuilding Complex “Zvezda” to allocate RUB 2.95 billion for construction of dry dock and outfitting workshops
15:23 Methanex and MOL finalize definitive agreements for a strategic shipping partnership
14:51 Demonstration project begins for commercialization of vessels equipped with domestically produced ammonia-fueled engine
14:29 Top management change in Eidesvik Offshore ASA
14:11 MABUX: Bunker Weekly Outlook, Week 43, 2021
13:54 San Pedro Bay ports announce new measure to clear cargo
13:40 RF Transport Minisry to consider discounts for LNG-powered ships in Far East ports upon request from business
13:29 IMO-Singapore maritime Single Window Project picks Angola port
12:52 Finnlines increases capacity between Finland and Sweden in January 2022
12:24 Ro-Ro/Passenger ferry Baltic Princess returned to Turku – Stockholm route following her DD at Turku Ship Repair Yard
11:38 Tallink Grupp reports the first quarterly profit since the start of the COVID pandemic
11:15 First vessel sails into Lumsden Point
10:53 Sovcomflot expects full-scale competition of ammonia, hydrogen and methanol with LNG not earlier than in 4-8 years
10:11 MABUX: Bunker prices may decline on Oct 28
10:07 ABS My Digital Fleet™ expands maritime IoT capabilities with the PI System from AVEVA
09:49 Net profit of PAO NOVATEK for 9M’2021 increased 11.5 times
09:30 Oil prices continue decreasing
09:14 Baltic Dry Index as of October 27
09:03 ‘Shanghai-Express’ reaches Port of Hamburg
08:56 NEDO selects Methane Slip Reduction Project for next generation ship development

2021 October 27

18:22 IMC Shipping appoints Mingfa Liu as managing director for ship services
18:07 TotalEnergies and MOL hold naming ceremony of France’s first LNG bunker vessel
17:51 Damen built LNG bunkering vessel enters service in the Gulf of Finland
17:42 Rosmorport takes delivery of LNG-powered Ro-Ro ship Marshal Rokossovsky
17:40 DEME Offshore installs final foundation at Hornsea Two offshore wind farm
17:34 Port of Zeebrugge posts a strong growth in nine months of 2021
15:40 Dublin Port volumes down by 3.3% after nine months of 2021
14:33 IMO considers midterm-measures for GHG reduction from ships
14:12 BIO-UV Group adds 3d scanning to turnkey BIO-SEA BWTS retrofit services
13:50 Ocean Yield agrees to invest in six VLCCs with 10-year bareboat charters to International Seaways
13:02 WinGD invests in training as gas-fuelled fleet grows
12:52 Vyborg Shipyard contracted to build an 18 MW icebreaker for Rosmorport
12:38 Zero emissions by 2050 is not enough for most developed countries if planetary warming is to be limited to 1.5 degrees - DNV
12:37 The LNG Fleet, LNG Bunkering and Other Alternatives Conference kicks off in Moscow
12:06 FESCO to supply Indian stations in Antarctica for another 5 years
11:51 Constructora Vale Verde places a repeat order for a cutter suction dredger with Damen Shipyards
11:19 MarineMax reports record fourth quarter and fiscal year results
11:18 FSRU Marshal Vasilevskiy completes maiden voyage with LNG cargo on the Northern Sea Route
10:09 Siemens Gamesa solidifies offshore presence in U.S. with Virginia blade facility
09:55 MABUX: No firm trend on Bunker market on Oct 27
09:33 Baltic Dry Index as of Oct 26
09:25 Aquadrill announces sale of a semisubmersible drilling unit
08:57 Oil prices edge lower

2021 October 26

18:06 FarSounder and NAVTOR announce a new partnership
17:49 Russian State Duma approves a bill on wrecks removal in the first reading
17:36 FuelEU can do more for the decarbonisation of shipping – World Shipping Council
17:08 First global hydrographic innovation and technology laboratory established in Singapore
16:31 BIO-UV Group adds 3D scanning to turnkey BIO-SEA BWTS retrofit services
16:24 Wärtsilä commits to carbon neutrality by 2030
16:05 CSL Americas takes delivery of second converted self-unloading ship
15:27 Damen Maaskant Shipyards Stellendam delivers 38-metre Beam Trawler to Rederij Long Ships
15:17 Vard Electro dual-battery pack to reduce emissions for Siem Offshore subsea vessel
15:01 Baltic Shipyard marks successful loading of shield tank duo onto the 22220 nuclear icebreaker Yakutia