• 2020 October 22 09:03

    MABUX: Bunker market this morning, Oct 22

    MABUX World Bunker Index (consists of a range of prices for HSFO380, VLSFO and MGO (Gasoil) in the main world hubs) changed irregular on October 21:

    380 HSFO: USD/MT 298.95 (+0.47)
    VLSFO: USD/MT 350.00 (-1.00)
    MGO: USD/MT 414.37 (+0.91)


    Meantime, world oil indexes decreased on Oct.21 after U.S. inventory figures showed demand weakening for refined products as global COVID-19 cases spiked.

    Brent for November settlement decreased by $1.43 to $41.73 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for December delivery fell by $1.67 to $40.03 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $1.70 to WTI. Gasoil for November delivery lost $9.25 – $328.00.

    Today morning oil indexes do not have any firm trend so far and change irregular.

    U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 1.0 million barrels from the previous week. At 488.1 million barrels, U.S. crude oil inventories are about 10% above the five year average for this time of year. The report came a day after the American Petroleum Institute pressured prices by reporting an unexpected build in inventories, at a little over half a million barrels.

    Meantime, U.S. distillate fuel oil inventories remained high through summer 2020 because production outpaced demand. The U.S. Energy Information Administration (EIA) expects that increased demand for distillate fuel oil in the agriculture and residential sectors in the coming winter will help to draw down high U.S. distillate inventories. These initially relatively high inventories, along with lower crude oil prices, will continue putting downward pressure on distillate fuel oil prices through the 2020–21 winter season.

    China’s flow of crude oil into storage accelerated in September, reversing two months of declines, as the world’s biggest importer of the fuel continued to work its way through massive volumes purchased during a brief April price war. The flow of crude into commercial and strategic stockpiles was about 1.75 million barrels per day (bpd). The rise in flows into storage tanks in September was largely driven by higher crude availability, given that refinery processing was more or less steady, with September’s 13.96 million bpd only just below August’s 14.0 million bpd.

    Iraq sees oil prices recovering in Q2 2021 so it plans to increase production capacity. Currently, the OPEC+ production cuts are delaying oil projects in the country. As per statement made by the Iraqi officials, Iraq should increase the capacity to 7 million bpd within six years, compared to its current production capacity of some 5 million bpd. It expects crude prices during January-March 2021 at $45 a barrel. As a result of this expectation, Baghdad will be basing its 2021 budget on an oil price level of $42 a barrel. Iraq is one of the most oil-dependent economies, even by OPEC standards, and has seen its budget revenues plummet after oil prices crashed in March.

    The U.S. is broadening the sanctions against service providers and those funding vessels involved in the construction of Nord Stream 2 in another attempt to prevent the Russia-led gas pipeline project from completing. The sanctions are a follow-up to U.S. sanctions on the Nord Stream 2 project from December 2019, which resulted in Western vessel and technology providers pulling out of the project. Now the United States is including in the sanctions companies providing services or facilities for upgrades or installation of equipment for those vessels, or funding for upgrades or installation of equipment for those vessels.

    We expect IFO and MGO bunker prices may go downward today by 7-10 USD.




2020 November 23

18:24 North P&I Club pre-renewal report confirms corrective response to market challenges
18:00 RF Government is set to reorganize the structure of development institutions
17:13 4th International Congress “Hydraulic Engineering Structures and Dredging” slated for 25-26 February 2021
16:34 Damen completes Eidsvaag Opal conversion
16:28 STLC and VEB-Leasing to be consolidated into Unified Leasing Company
16:05 Aker Solutions wins maintenance and modifications contract in Brazil from Equinor
15:41 Vard secures contract for eight marine robotic vessels
15:17 RF Transport Ministry confirms its intention to introduce investment charges in seaports from 2021
14:53 Hydrographic boat of Project 19920 joins RF Navy’s Northern Fleet
14:31 Concordia Maritime CFO resigns from his position
14:09 Friendship 2020 joint exercise of the Egyptian Navy and the Russian Navy Bridge ends at the Black Sea Fleet
13:25 Ningbo Containerized Freight index rises by 19.8% in November 2020
12:34 Average spot market price for Russian M100 product climbed to RUB 13,184 pmt
12:12 The UK could increase its ambitions for renewable energy at a lower cost to consumers, new Wärtsilä analysis finds
12:02 Chinese ports container throughput down 0.03% to 217.2 million TEU from January to October 2020
11:53 Global Ports and TransContainer launch expedited delivery of pellets from Siberia to Europe via Saint Petersburg
11:11 Brodosplit lays keels for two coastal patrol vessels
10:19 HELCOM revamps its tool for tracking implementation progress
10:12 MacGregor supports China’s Lingshui 17-2 gas field development
09:57 MABUX: Bunker Market this morning, Nov 23
09:41 Container throughput of port Shanghai (China) in 10M’20 fell by 1.7%
09:25 Oil prices rise on hope for demand recovery
09:12 Baltic Dry Index as of November 20

2020 November 22

16:23 Ørsted and NABTU sign landmark MOU for U.S. offshore wind workforce transition
15:18 Port Canaveral cruise terminal parking to feature E-PASS® contactless transaction technology
14:21 USCG Cutter Stratton returns home after crewmembers test positive for COVID
13:26 New Wallenius SOL service delivers 200,000 extra tonnes of paper reels to PSA Zeebrugge terminal
12:18 Port NOLA's Brandy D. Christian receives 2020 C. Alvin Bertel Award
11:41 BPA announces the release of UK Ports industry magazine
10:42 Coast Guard Cutter Diligence returns to homeport from Caribbean patrol

2020 November 21

16:12 Impact assessment agency of Canada interim report an incomplete analysis omitting a number of important facts
15:49 Cummins introduces X15 Stage V solution for European inland waterways
15:18 Belfast Harbour supports launch of Maritime Belfast Trust
14:07 Remote repair helmet overcomes pandemic restrictions
13:39 Armstrong Marine USA of Port Angeles, Wa. launches new identity as BRIX MARINE
12:24 Mackay provides electronics package for two Vigor-built pilot boats commissioned by Los Angeles Pilot Service
11:38 Third quarter 2020 business activity strong CMA CGM Group operating performance

2020 November 20

18:00 CMA CGM to launch the FLAMINGO EXPRESS service
17:49 Senior Arctic Officials’ plenary meeting held in a virtual format
17:05 Australia to end crew contract extensions
16:52 Port of Algeciras was awarded the ESPO Award 2020
16:33 FSUE "Rosmorport" takes part in International Forum "Transport of Russia"
16:05 MOL's new app boosts efficiency with real-time processing of ship operational data
15:40 Novotrans ensured 100-pct loading of Baltiysk ferry on Ust-Luga-Baltiysk line
15:08 ABP invests around £2 million in new lock gates in Ipswich
14:22 PD Ports unveils plans for River Tees Digital Platform
14:05 Rosterminalugol handled over 23.4 million tonnes year-to-date, up 8% YoY
13:44 Tallink receives Finnish Government guarantee for additional loan
13:21 Golar and Black & Veatch announce collaboration in floating ammonia production, carbon capture, green LNG and other emerging technologies
13:03 Zvezda starts cutting steel for lead LNG tanker of new ARC 7 class series
12:10 The “ECO Valencia” arrives to València
11:37 Maersk works with the Long Beach Harbor Trucking Association
10:55 MABUX: Bunker Market this morning, Nov 20
10:46 Wärtsilä 14 EU Stage V compliant engines selected for Swiss Inland ferries
10:44 Sovcomflot expects revival of global trade in 2021
09:51 Bunker prices decrease at the Port of Saint-Petersburg, Russia (graph)
09:33 Oil prices are recovering
09:18 Baltic Dry Index as of November 19

2020 November 19

18:25 Klaveness Combination Carriers posts Q3 2020 results
18:06 Lloyd’s Register appointed Commercial Manager for North Europe