• 2021 February 19 10:04

    MABUX: Bunker market this morning, Feb 19, 2021

    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) continued firm upward evolution on February 18:

    380 HSFO: USD/MT – 406.63 (+2.64)
    VLSFO: USD/MT – 509.70 (+2.19)
    MGO: USD/MT – 566.52 (+4.26)





     

     

     

     

     

     

     

     

    As of February 18, a correlation of MBP Index (Market Bunker Prices) vs DBP Index (MABUX Digital Benchmark (Digital Bunker Prices)) in four largest global hubs showed 380 HSFO and MGO LS fuels remain consistently undervalued in all selected ports. According to DBP Index, the 380 HSFO was undercharged from minus $ 11 (Houston) to minus $ 22 (Rotterdam), MGO LS - from minus $ 5 (Houston) to minus $ 33 (Singapore). Taking into consideration rather stable upward evolution of bunker indexes at the moment, the underepricing of 380 HSFO and MGO will persist in the short-term outlook. VLSFO, on the contrary, remains slightly overvalued in all selected ports in the range from plus $ 1 (Singapore) to plus $ 12 (Houston).





     

     

     

     

     

    World oil indexes changed irregular on February 18 as concerns that a rare cold snap in Texas could disrupt U.S. crude output for days or even weeks prompted fresh buying.

    Brent for April settlement fell by $0.41 to $63.93 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for March delivery decreased by $0.62 to $60.52 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $3.41 to WTI. Gasoil for March delivery gained $7.50 – $526.75.

    Today morning oil indexes have turned into slight downward correction.

    Texas’ freeze entered a sixth day on February 18, as the largest energy-producing state in the United States grappled with massive refining outages and oil and gas shut-ins that rippled beyond its borders into neighbouring Mexico. About 4 million barrels of daily refining capacity has been shuttered and at least 1 million barrels per day of oil production is also out.

    Oil’s rally in recent months has also been supported by a tightening of global supplies, due largely to production cuts from the Organization of the Petroleum Exporting Countries (OPEC) and allied producers in the OPEC+ grouping that includes Russia. OPEC+ sources said the group’s producers are likely to ease curbs on supply after April given the recovery in prices.

    Prices also gained support from a larger-than-anticipated draw in the U.S. crude oil inventories. The Energy Information Administration reported crude oil inventories in the U.S. had shed 7.3 million barrels in the week to February 12. Analysts had expected an inventory draw of 2.175 million barrels for the reporting period.

    We expect bunker prices not have any firm trend today and change irregular: IFO – in a range of plus-minus 0-3 USD, MGO – in a range of plus-minus 0-6 USD.




2021 February 26

12:14 CMA CGM to dedicate six new LNG-powered vessels to U.S. services
11:42 CPC system to transport 67.5 mln tons of crude oil in 2021
11:37 MPA awards LNG bunker supplier licence to Total Marine Fuels
11:18 MPA awards LNG bunker supplier licence to Total Marine Fuels Private Limited
11:04 Wärtsilä and Ocean Technologies Group partner to deliver transformational learning solutions to improve safety and efficiency at sea
10:45 MABUX: Bunker market this morning, Feb 26, 2021
10:39 Car carrier Orca Ace earns ClassNK's 1st remote survey notation
10:36 Port of Baku Director General held online meeting with members of American-Azerbaijani Chamber of Commerce
10:14 Port of Gdynia welcomes largest single delivery of wind turbine propeller blades in Polish history
09:51 Bunker prices continue rising at the Port of Saint-Petersburg, Russia (graph)
09:32 Oil prices decrease amid dollar rise
09:18 Baltic Dry Index as of February 26

2021 February 25

20:19 Bunker Weekly Outlook, Week 08, 2021
18:37 Port of Oakland boss appointed CAPA Vice President
18:07 Port of Los Angeles announces launch of new ‘Control Tower’ data tool for tracking cargo
17:53 Admiral Nevelskoy ferry leaves Saint-Petersburg for Sakhalin
17:49 BPA reports lowest passenger numbers in 60 years
17:42 Finnlines Plc issues its Financial Statements 2020 and Financial Review for 2020
17:34 Cutting restrictive trade policies could boost global economic recovery from COVID-19 by 3.4%
17:31 ECSA: European shipping is central to the success of EU's new trade strategy
17:20 APM Terminals Algeciras reaches all employees with a safety campaign
16:58 Tallink Grupp reports net loss of EUR 108.3 million for pandemic year 2020
16:41 Terms of references for Klaipeda Seaport's Southern part development to be prepared by American specialists
16:19 BPO’s comprehensive ports report published today
16:15 Hiab to supply MV Commercial with 100 HIAB loader cranes
15:45 Rolls-Royce secures UK MOD funding for innovative technology to support naval autonomy
14:50 Consequences of COVID pandemic affect the Port of Hamburg’s 2020 throughput
14:25 Bunker prices are slightly up at the Far East ports of Russia (graph)
13:13 Nevsky Shipyard delivers Pola Gali, yet another ship of Project RSD59
13:07 DNV GL joins smart maritime network to enhance industry cooperation on digitalization
12:10 ClassNK grants its first remote survey notation for PCC ORCA ACE
11:32 NOVATEK and Shenergy Group sign SPA for LNG from Arctic LNG 2
11:04 “K”Line commences technical management of Singapore’s first LNG bunkering vessel “FUELNG BELLINA”
10:33 Telemar wins 50-vessel service and maintenance contract with Fairplay Towage group
10:21 MABUX: Bunker market this morning, Feb 25, 2021
10:13 BC Ferries releases its third quarter results
09:59 CMA CGM implements FAK rates from the Mediterranean, Adriatic, North Africa & Black Sea to the Indian Subcontinent
09:50 BC Ferries' fifth battery hybrid-electric vessel launched
09:28 Oil market sees mixed price movements
09:12 Baltic Dry Index as of February 24

2021 February 24

18:06 Parkwind selects DEME Offshore for foundation EPCI contract at Arcadis Ost I
17:47 Ministry of Transport of Dagestan looks into organizing sea cruise tourism in Caspian Sea
17:26 ABS to class first ever Jones Act wind turbine installation vessel
17:16 Yangtze River Protection Law will come into force on 1st March, 2021
16:59 Admiral Kasatonov frigate of RF Navy’s Northern Fleet performs long range campaign tasks in Aegean Sea
16:28 Port of Antwerp deploys autonomous drones for safety enforcement
16:15 DFDS aims for greener ferries from alternative fuel project
15:51 Mordraga supports 4th International Congress “Hydraulic Engineering Structures and Dredging” as its Sponsor
15:29 Maersk backs plan to build Europe’s largest green ammonia facility
14:25 Vostochnaya Veft shipyard starts building yet another floating berth for RF Navy’s Pacific Fleet
14:03 Cargill and Maersk Tankers combine volumes and market expertise to launch new bunker procurement service
13:44 Chuvash Republic to be provided with RUB 330 million for purchase of river transport
13:12 Contractors selected to construct the quays in the Amalia Harbour
12:31 Port of Oakland cargo volume off due to crowded ports
12:27 Corvette Stoyky of RF Navy’s Baltic Fleet entered Oman on business call
11:57 Bureau Veritas joins the coalition for the energy of the future
11:23 MPA joins industry in ammonia fuelled tanker JDP
10:31 MABUX: Bunker market this morning, Feb 24, 2021
10:28 ASPO tests main propulsion plant of chemical tanker PortNews
10:09 The Grimaldi Group orders six ro/ro multipurpose vessels