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  • MABUX: Bunker market this morning, Dec 09
  • 2020 December 9 10:21

    MABUX: Bunker market this morning, Dec 09

    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 in the main world hubs) changed slightly on December 08:

    380 HSFO: USD/MT 328.94 (-0.05)
    VLSFO: USD/MT 400.00 (0.00)
    MGO: USD/MT 470.23 (+1.93)









    Correlation of the Market Bunker Prices (MBP) Index vs the MABUX Digital Bunker Prices (DBP) Index in  four largest hubs showed on Dec.08 that in Rotterdam MBP for 380 HSFO and MGO LS were below the DBP index (i.e. fuel was undervalued) by 7 USD and 18 USD, respectively. Meantime, the VLSFO in Rotterdam was still overvalued by 9 USD. In Singapore, there was registered a 100% correlation between MBP and DBP indices for 380 HSFO and VLSFO, while MGO LS was still undervalued. In Fujairah and Houston, 380 HSFO and VLSFO remained overvalued. MGO LS showed undervaluation in Fujairah (minus 18 USD) but overvaluation in Houston (plus 9 USD).






    World oil indexes changed insignificant and irregular on Dec.08 after coronavirus cases surged in the United States and Europe, counteracting optimism that arose over vaccine advancements.

    Brent for February settlement rose by $0.05 to $48.84 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for January delivery decreased by $0.16 to $45.60 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $3.24 to WTI. Gasoil for December delivery gained $0.50 – $402.00 .

    Today morning oil indexes demonstrate slight downward trend.

    A sharp rise in coronavirus cases globally has led to a string of renewed lockdowns, including strict measures in California, Germany and South Korea. France may have to delay unwinding some lockdown restrictions next week, after signs the downward trend in new cases had flattened after shops were allowed to reopen late last month.

    The American Petroleum Institute (API) reported on Dec.08 a build in crude oil inventories of 1.141 million barrels for the week ending December 4. Forecasts had predicted an inventory draw of 1.514 million barrels for the week. Besides, the API reported a large build in gasoline inventories of 6.442 million barrels of gasoline for the week ending December 4—compared to the previous week's 3.402-million-barrel build. U.S. oil production was up 100,000 bpd for the week ending November 27, at 11.1 million bpd—2.0 million bpd lower than the all-time high of 13.1 million bpd reached in March.

    The next OPEC+ group meeting on production policy is expected to be set for the first trading day of 2021, January 4. The group managed to avoid a no-deal outcome at its last week meetings, which went on for days amid disagreements over how the OPEC cartel and its Russia-led non-OPEC partners would act next year with the pandemic still depressing fuel demand in the world. The original plan for a 2-million-bpd increase of OPEC+ production as of January was watered down to a 500,000-bpd rise for January in a compromise agreement, largely seen as a positive outcome that avoided a break-up of the OPEC+ pact or even of OPEC.  

    Iran is preparing to start expanding its crude oil exports ahead of Joe Biden's inauguration in January in a clear sign it expects better bilateral relations with the U.S. during the next administration. The U.S. president-elect said although, he would only lift the sanctions imposed on Iran by President Trump if Iran returns to "strict compliance with the nuclear deal". In response, Iran said Washington had its own "commitments". It is expected Iran will be ready to return to pre-sanction production and exports within three months.

    Iraq said it is committed to all OPEC+ production cut agreements that help contain the volatility in oil prices because OPEC’s second largest oil producer seeks higher prices for its crude exports. Iraq has a production quota of 3.804 million bpd and had agreed to implement “compensation cuts” of 203,000 bpd below that in September and 165,000 bpd for October to December for its excess production from May to August. Iraq plans to base its 2021 oil budget on a price of $42/b. The country’s parliament is expected to start debating this month the budget draft bill.

    Japan said it will introduce ammonia into the fuel mix for thermal power generation as well as for shipping from the late 2020s as part of its efforts to achieve carbon neutrality in 2050. For introduction of fuel ammonia, Japan should consider ways to lower its production cost, which is “slightly expensive”, and be competitive against all other fuel and energy sources, including coal, gas, and renewables for power generation. To introduce ammonia for thermal power and as a shipping fuel in the late 2020s, Japan will also consider developing its supply chain spanning procurement, production, transportation, storage, utilization, and finance.

    We do not expect any drastic changes in bunker prices today with possible fluctuations of plus-minus 1-3 USD.

2021 October 17

16:28 Revenue Cutter Bear located, ending decades-long mystery
15:19 Port Everglades new Heron Garage touts solar power, moving walkway
14:38 JAXPORT welcomes passenger vessel Ocean Explorer for port-of-call visit
13:27 Canadian fishing company chooses Skipsteknisk design
12:11 Mayflower Wind signs agreement with Gladding-Hearn for design/build of hybrid electric offshore wind crew transfer vessel
11:03 USCG commissions fast response cutter Emlen Tunnell

2021 October 16

12:38 MYCRANE signs MoU with Swiss-based EPCM, PESCO Switzerland AG
10:19 Star Pride delivered at the Fincantieri shipyard in Palermo
09:37 Three zero-emission harbour tugs mark Corvus Energy’s 500th project order
08:16 Rolls-Royce launches mtu hydrogen solutions for power generation

2021 October 15

18:27 Sea Machines uses biofuel to power tug Nellie Bly on long-haul autonomous journey
18:07 Dublin Port Company to open €48m Dublin Inland Port
17:53 Danfoss Editron powering the first fast crew supply vessel able to compete with helicopter transfers
17:33 Tsawwassen First Nation and the Vancouver Fraser Port Authority sign renewed Relationship Agreement
17:09 Sevmash completed manufacturing of sections for offshore ice-resistant fixed platform LSP "A"
16:40 Global Ports Holding positions Kalundborg as an alternative to Copenhagen
16:33 Duisburg Rail Terminal welcomed the one millionth unit since it started the operations in 2013
15:13 Klaveness Combination Carriers signs a Letter of Intent with Shipshave AS to implement its semi-autonomous hull cleaning solution across its fleet
14:31 Wärtsilä next generation navigation simulator to power the Centre of Excellence in Maritime Safety in Singapore
14:09 Coral Consortium working on a water drone to regularly monitor water quality in the basins of the Port of Gdańsk
13:53 Port of San Diego adopts most ambitious maritime clean air strategy of its kind in California
13:22 LNGnews.RU supports 5th LNG Fleet, LNG Bunkering and Alternatives conference as its Media Partner
13:02 A.P. Moller - Maersk enters strategic partnership with Danish Crown on global end-to-end logistics
12:36 GTT is selected by Hyundai Heavy Industries to equip the tanks of two new LNG-fueled container vessels with its membrane containment technology and smart shipping solutions
11:47 Russian-Chinese joint naval exercise is underway in the Sea of Japan
11:23 Transneft Kozmino Port starts construction of maintenance site for servicing mariculture site
10:08 MABUX: Bunker prices may continue slight upward changes on Oct.15
10:02 Port of Long Beach has second-busiest September
09:56 Port of Oakland’s Danny Wan heads statewide port group
09:51 Rosneft sells 5% in Vostok Oil to a consortium of Vitol and MME
09:32 Crude oil prices rise driven by demand growth
09:19 Baltic Dry Index as of October 14

2021 October 14

18:05 MOL, SoftBank and e5 Lab start joint studies for next-generation maritime high-speed satellite communications
17:54 Glavgosexpertiza approves construction of tank for light oil products at IPP terminal in Novorossiysk
17:35 Sembo secures $12m investment from Stena Line
17:15 Jan De Nul signs T&I contract for Gode Wind 3 & Borkum Riffgrund 3
16:52 Singapore Maritime Institute to support next phase of maritime R&D activities with funding and partnerships
16:15 ABS and Kongsberg Digital join forces to power maritime digitalization and decarbonization
15:58 Petersburg Oil Terminal handled 6.9 million tonnes of oil products in 9M’21, down 1% YoY
15:41 Topsoe puts demonstration plant into operation for production of sustainable Methanol from biogas
15:25 MABUX: Bunker Weekly Outlook, Week 41, 2021
15:24 Scandlines prepares sister ferry M/V Berlin for installation of Norsepower Rotor Sail
15:04 AET completes its first ever LNG bunkering in the US
14:53 Gazprom and Russian Government sign agreement of intent on hydrogen energy
14:31 Solstad Offshore, Aker Solutions and DeepOcean create offshore renewables alliance
14:11 Maersk invests in Vertoro to develop green lignin marine fuels
13:59 Joint Sea 2021 Russian-Chinese naval exercise starts in Sea of Japan
13:34 ABB to turbocharge first ME-GA engines as MAN ES opens new route to sustainable sailing for gas carriers
13:10 BC Ferries' sixth Island Class ferry departs Romania bound for B.C.
13:01 Sea Terminal “Tuloma” obtains permit for construction of dry bulk cargo terminal in Murmansk
12:32 New NIC-place Data Lake maximizes value of business logistics data using customized Big Data analytics
12:10 Valaris Drillship achieves ABS Enhanced Electrical System Notation in world first
11:41 Nor-Shipping expects ‘fundamental shift’ in industry focus post COP26
11:05 Maersk Tankers uses vessels’ “digital twin” to slash emissions
10:34 7th Annual East Africa Transport & Infrastructure conference to be held on 15-16 November 2021 in Ethiopia
10:12 BTP Terminal in Brazil goes live remotely with CyberLogitec’s OPUS Terminal
09:53 MABUX: Still no firm trend on Global bunker market on Oct.14
09:30 Crude oil prices rise driven by OPEC output forecast
09:15 Baltic Dry Index as of October 13

2021 October 13

18:17 Portsmouth International Port sets course for shore power