• 2019 December 5 12:17

    MABUX: Bunker market this morning, Dec 05

    The Bunker Review was contributed by Marine Bunker Exchange (MABUX)

    MABUX World Bunker Index (consists of a range of prices for 380 HSFO, 180 HSFO and MGO (Gasoil) in the main world hubs) demonstrated irregular changes on December 04:

    380 HSFO: USD/MT – 335.42 (-0.20)
    180 HSFO: USD/MT – 380.04 (+0.62)
    MGO: USD/MT – 665.58 (-0.78)


    Meantime, world oil indexes jumped on Dec.04. on expectations that OPEC and allied producers would extend production curbs, and as U.S. government data showed a large drop in domestic crude stockpiles

    Brent for February settlement increased by $2.18 to $63.00 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for January delivery rose by $2.33 to $58.42 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $4.57 to WTI. Gasoil for December delivery added $13.23.

    Today morning oil indexes deep ahead of OPEC talks in Vienna later today.

    The Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia could approve deeper crude output cuts when they meet in Vienna this week. Iraqi oil minister Thamer Ghadhban told that a deeper cut is being preferred by a number of key members. He added he would support at least extending existing cuts to end-2020 from March. However, some remained skeptical of whether OPEC+ will deepen cuts, though many expect an extension of the existing supply pact. OPEC members meet today, with the OPEC+ group meeting the following day. OPEC+ has been curbing supply since 2017 and is expected to keep the cuts in place to balance out record production in the United States. Prices briefly dipped after a report that Saudi Arabia is threatening to boost oil production unilaterally if some OPEC nations continue to defy the group’s output curbs. Saudi Arabia has been bearing the brunt of the cuts, while some members, like Russia, Nigeria and Iraq, are still not in complete compliance

    The J.P. Morgan forecasts that the deal will be for cuts of 1.5 million barrels a day, extended through June. The ongoing agreement between OPEC, Russia and other non-OPEC producers is for a 1.2 million barrel a day reduction. Larger cuts should make the market tighter and help boost prices. U.S. shale production has surged to 12.9 million barrels a day, while OPEC and its partners have held oil off the market. Goldman Sachs oil analysts expect OPEC plus to keep its production cut at current levels and to extend them through June, when the OPEC plus group is next scheduled to meet. The Goldman analysts expect oil prices to be choppy around this week’s meeting because there is so much uncertainty about what the producers will do. At the same time, Fitch Solutions said oil prices are likely to fall next year as oil supplies keep rising, outweighing any pickup in growth. It predicted Brent crude will drop to an average of $62 a barrel in 2020 and $58 in 2021, from a $64 average this year.

    According to the Energy Information Administration said U.S. crude stocks fell by 4.9 million barrels in the week to Nov. 29 as refineries hiked output. It was expected a decrease of 1.7 million barrels. Crude stocks at the Cushing, Oklahoma, delivery hub fell by 302,000 barrels, EIA said.

    AT the same time refinery crude runs rose by 464,000 barrels per day, EIA data showed. Refinery utilization rates rose by 2.6 percentage points. Gasoline stocks rose by 3.4 million barrels, compared with expectations for a 1.8 million-barrel gain. Distillate stockpiles, which include diesel and heating oil, rose by 3.1 million barrels, versus expectations for a 1.1 million-barrel increase. Net U.S. crude imports rose last week by 144,000 barrels per day. The U.S. four-week average for commercial crude oil imports fell to its lowest since 1992.

    The uncertainty over prospects for a trade deal between the United States and China still remain. The dispute between the world’s two biggest economies has weakened the global economy and limited oil demand growth. U.S. President Donald Trump said on Dec.04 that trade talks with China were going “very well,” sounding more positive than he did a day earlier when he said a deal may have to wait until after the 2020 election.

    We expect bunker prices may demonstrate upward changes today: 6-8 USD up for IFO, 6-9 USD up for MGO.




2020 August 7

12:08 Jan De Nul signs contract with Dogger Bank Wind Farm
11:22 The second tanker manufactured in Azerbaijan launched for the next stage of construction
10:37 MSC’s Golden Horn service links China, Korea & Russia’s east coast
09:59 Ecochlor receives IMO BWMS Code Type Approval
09:51 MABUX: Bunker market this morning, Aug 07
09:16 Baltic Dry Index as of Aug 6
09:12 Crude futures prices turn down again

2020 August 6

19:00 FSL Trust agrees to sell three containerships
18:27 Sumitomo Heavy Industries has been granted an “Approval in Principle” for a medium-size high-pressure LNG dual-fueled tanker
18:21 Port of Rostov-on-Don seven-month volume rises 4% to 12.7 million tonnes
18:07 ICTSI 1H2020 net income down 12% to US$113.4mln
17:26 Royal IHC awarded major contract for supply of FPSO equipment for Yinson
17:25 Vodohod’s newbuild Mustai Karim arrives at Saint Petersburg
16:36 Nevsky Shipyard launches the Pavel Leonov, last ship of PV22 series duo
16:15 North Sea Port, Flemish Waterways plc, Port of Antwerp, Port of Oostende, Port of Zeebrugge, the Agency for Maritime and Coastal Services, and the Joint Nautical Management to introduce SWINg in 2021
15:43 Zelenodolsk Shipyard to host tomorrow launching and keel-laying ceremonies
15:41 Maritime Autonomous Surface Ships Port Network was established in Singapore
14:27 MABUX Bunker Weekly Review
13:54 Tolyattii bound heavylift project cargo successfully handled at Port Bronka
13:27 Alaska Marine Lines rail barges upgrade ballast systems
12:46 Davie confirms polar leadership with icebreaker launch
12:35 Transit container transport by RZD network soars 30% in Jan-Jul
11:40 CMA CGM to launch its ever-faster service connecting Spain with Algeria
11:35 Carnival Cruise Line joins industrywide pause in U.S. through October 31
10:18 Shell signs charter contracts for six newbuild LNG carriers
10:15 Fourth IMO Greenhouse Gas Study: Shipping emissions are projected to increase by up to 50% until 2050, relative to 2018
09:58 The Flemish government, Port of Antwerp and SeReAnt together improve the water quality at the Port of Antwerp
09:26 Baltic Dry Index as of Aug 5
09:21 Crude futures prices resume climb
09:10 MABUX: Bunker market this morning, Aug 06
08:11 NYK starts operation of its first finished-car logistics terminal in Japan

2020 August 5

18:57 Valenciaport triples air quality control cabins
18:16 U.S. Coast Guard suspends search for missing spearfisher off Maui
18:04 Port of Helsinki turnover decreased by 26.7% to EUR 33.4 million in January–June 2020
17:35 A delegation of the Port of Gdansk visits Klaipeda
17:06 Voluntary ship slowdown through Swiftsure Bank begins August 1
16:49 Mississippi River will get deeper
16:39 MOL introduces FOCUS Project Part Ⅲ: Virtual Ship Visit Application 'Fleet Tour'
16:29 Admiralty Shipyards starts building fourth CT-192 series trawler the Kapitan Martynov
15:27 Solstad secures contract from BP for three vessels in Australia
14:38 ABS to class first Taiwan-built offshore installation vessel
13:22 Hurtigruten temporarily suspends all expedition cruises
13:18 Krasnoye Sormovo to launch the MS Pola Marina cargo ship on August 7
13:12 The Vostochnaya Stevedoring Company completes the upgrade of more than 18,000m2 of storage yard
13:08 Concept of a modular composite fishing boat gets the thumbs up from MARINET
12:39 Scorpio Bulkers to build Wind Turbine Installation Vessel (WTIV) at DEME
12:01 Fincantieri and Saipem sign deep-seabed mining agreement
11:58 MARINET expects draft amendments on autonomous shipping to Russia’s MSC to be submitted by the end of the month
11:13 Future 12th expeditionary fast transport (EPF 12) for US Navy successfully completes acceptance trials
11:06 SEA-KIT bags two USV orders from Fugro
10:51 Indian Register of Shipping launches vessel for Unichart Navigation
10:23 Baltic Dry Index as of Aug 4
10:18 Crude futures prices remain nearly flat
09:51 MABUX: Bunker market this morning, Aug 05
09:07 EMSA, ECDC release guidance on resuming safe cruise operations in EU

2020 August 4

18:36 UK publishes Guidance on financial sanctions for Maritime Industry
18:21 Avance Gas sells 2003-built VLGC Avance
17:45 Klaveness Combination Carriers takes delivery of the fourth CLEANBU vessel
17:03 Tallink Grupp publishes July 2020 passenger and cargo statistics
16:58 ADNOC L&S and Wanhua Chemical Group form Strategic Shipping Joint Venture