• 2020 September 25 09:11

    MABUX: Bunker market this morning, Sept 25

    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) changed insignificant on September 24:

    380 HSFO: USD/MT 290.81 (-2.79)
    VLSFO: USD/MT 339.00 (0.00)
    MGO: USD/MT 405.14 (-1.15)


    Meantime, world oil indexes changed irregular on Sep.24 amid a stronger dollar and a renewed wave of COVID-19 cases in Europe that led to renewed travel restrictions in several countries.

    Brent for November settlement increased by $0.17 to $41.94 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for November delivery rose by $0.38 to $40.31 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $1.63 to WTI. Gasoil for October delivery lost $5.00 – $320.75.

    Today morning oil indexes have turned into slight upward evolution.

    Prices slipped down after data showed U.S. business activity slowed in September, U.S. Federal Reserve officials flagged concerns about a stalling recovery, and Britain, Germany and France imposed restrictions to stem new coronavirus infections -- all factors affecting the fuel demand outlook. Still, fuel demand in the U.S. remains subdued as the pandemic limits travel. The four-week average of gasoline demand was 8.5 million barrels per day (bpd) last week, down 9% from a year earlier.

    Russia’s Gazprom Neft believes that global oil demand will return to its pre-pandemic levels in the second half of 2021. As per statement, many countries are either expecting or facing a second wave, but it is expected that very harsh quarantine measures, like the ones earlier this year especially in Europe, will not be re-imposed. Last week, the IEA cut its forecast for global oil demand this year, expecting demand to fall by 8.4 million bpd from 2019.

    Saudi Arabia’s domestic crude oil stockpiles have climbed to the highest since the coronavirus pandemic hit the market hardest in April: 78 million barrels as of Sept. 23, the highest since April 26. The kingdom’s crude stockpiles are climbing because of weak refining margins, relatively high official selling prices for September cargoes and shrinking domestic consumption. Maintenance at the Ras Tanura refinery also boosted inventories.

    After Iran delivered condensate to Venezuela via an Iran-flagged tanker, the same tanker is now loading Venezuelan crude oil at a terminal in the Latin American country, in defiance of the U.S. sanctions on both countries’ oil industries and exports. Lack of diluents, lack of maintenance, lack of money, and lack of spare parts have forced Venezuela’s refineries to operate at very low processing rates. Iran, as a fellow target of U.S. sanctions, has declared its readiness to help Venezuela deal with the shortage. It has sent professionals to help Venezuela repair its refineries and it is now sending to Venezuela the superlight crude grade known as condensate to blend it with the heavy crude and produce exportable grades of crude oil.

    An increase in short-term period chartering of VLCCs in the first half of September has increased market speculation about another surge in floating storage of crude oil. With a sharp decline in freight rates, several charterers have reportedly taken VLCCs for short-term time charter ranging from three to nine months. As charter rates have declined, any possible deepening in the crude price contango would provide a profitable floating storage opportunity to charterers.

    We expect IFO bunker prices may add 1-3 USD while MGO prices will change irregular in a range of plus-minus 3-5 USD. 




2020 October 23

18:09 Baltic Data Flows: New HELCOM project seeks to harmonize and harvest environmental data at a pan-Baltic level
17:47 ICS welcomes legally binding agreement to significantly improve carbon efficiency of shipping
17:10 Anti-submarine ship Vice-Admiral Kulakov completes its business call to Greece
16:32 Bollinger Shipyards delivers 41ST fast response cutter to the U.S. Coast Guard
16:05 APM Terminals Poti signs a contract with Poti New Terminals Corporation for the development of dry bulk facility in the Poti Sea Port
15:31 HySHIP project clinches EUR 8M funding award
15:13 Krasnoye Sormovo shipyard launches dry cargo carrier Alfa Mercury
14:50 Self-propelled crane built for RF Navy’s Pacific Fleet arrived in Vladivostok having passed the Northern Sea Route
14:25 Equinor changes chief financial officer
14:06 Membrane technologies of GTT is an optimal solution for gas carriers, LNG bunkering and storage
13:23 MarineMax participates in the Fort Lauderdale International Boat Show
13:05 Wärtsilä selected to power new ‘super ferries’ series for P&O Ferries
12:55 An agreement made to explore the possibilities of green hydrogen export from Iceland to Rotterdam
12:04 Tallink Silja AB is forced to issue redundancy notice to Swedish crew members
11:41 Tallink to become the first shipping company to receive Sustainable Travel Finland label
11:09 Austal to further expand Australia support business through acquisition of BSE Maritime Solutions
10:53 NYK to make Gazocean a wholly owned subsidiary
10:19 Bunker market sees slight change of prices in the Port of Saint-Petersburg, Russia (graph)
09:55 National Gas Vehicle Association to propose priority measures for LNG bunkering support
09:33 Oil prices continue decreasing
09:18 Baltic Dry Index as of October 22
08:49 MABUX: Bunker market this morning, Oct 23
08:19 CMA CGM announces GRR from Asia to West Africa

2020 October 22

19:00 “K”Line online training for seafarers obtained DNV GL certification
18:04 Milaha reports QR 384 million in net profit for the nine months of 2020
17:41 Port of Los Angeles receives $9.9 million infrastructure development grant
17:36 Feasibility report on ship repair cluster development in Arkhangelsk Region to be completed in November 2020
17:29 MABUX releases weekly review of bunker market
17:05 Gothenburg Port Authority CEO becomes the member of newly established Electrification Commission
16:44 ABP’s ports in East Anglia keep agricultural products moving
16:14 ONE adds new service from Asia to Indian Subcontinent
15:50 Bunker prices are flat in the Far East ports of Russia (graph)
15:34 EU awards funding to Kapellskär-Naantali Maritime Bridge environmental initiative
15:04 Environmental Protection Agency signs a proposed rule for reducing the environmental impact of discharges
15:03 ABS and TCOMS join forces to research next generation marine & offshore and maritime solutions
14:44 Floating nuclear power plant covers over 50% of electric energy demand in Chukotka
14:20 The average value of the Ningbo Container Freight index 1 in October increases by 1.2%
14:20 MPA-SSG-WSG joint media release: 1000 traineeships, company attachments and training opportunities for more Singaporeans to join maritime sector
14:03 Global Ports Holding signs sale and purchase agreement for Port Akdeniz
13:57 Port of HaminaKotka specifies minimum requirements for berthing and unberthing services
13:25 Rosmorport's Murmansk Branch performed pilotage of Sedov barque
13:01 Container throughput of Chinese ports still decease slightly in January - September 2020
12:52 Zhigalovo Shipyard lays down fifth ship of Project 3052 for Rechvodput
12:26 MPA-ABS MoU to advance R&D activities in maritime Singapore
12:13 Multi-million-euro project transforms CO2 into green raw material in North Sea Port
11:56 Private investments in infrastructure of Arkhangelsk port totaled RUB 25 billion in 7 years
11:18 Port of Long Beach posts results for in September 2020
11:11 Russian President Vladimir Putin signs order on merging Sevmorzavod into USC
10:07 ZIM offers new service to the UAE
09:58 Sea Port of Saint-Petersburg expands its cargo space
09:36 Oil prices continue decreasing in response to growing US reserves
09:19 Baltic Dry Index as of October 21
09:05 The Grimaldi Group takes delivery of the Eco Valencia and Grande Florida
09:03 MABUX: Bunker market this morning, Oct 22
08:52 MSC Cruises to implement next-generation air sanitation system developed by Fincantieri for the cruise industry

2020 October 21

18:30 Hyundai Motors to ship 50 hydrogen trucks via the port of Antwerp
18:06 NYK Group dry bulk carrier rescues sailors off the coast of Indonesia
17:36 MAN Energy Solutions to lead Danish consortium developing ammonia-fuelled engine for Maritime sector
17:19 NSR cargo traffic to exceed 31 million tonnes in 2020 – Aleksey Likhachev
17:05 Stena Embla successfully completes sea trials