• 2020 November 24 10:04

    MABUX: Bunker market this morning, Nov 24

    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) continued to rise on Nov.23:

    380 HSFO: USD/MT 316.24 (+3.78)
    VLSFO: USD/MT 374.00 (+3.00)
    MGO: USD/MT 440.30 (+2.72)


    Meantime, world oil indexes increased on Nov.23 on a sustained burst of optimism that the distribution of vaccines to treat Covid-19 will enable a thorough recovery in oil demand next year.

    Brent for January settlement increased by $1.10 to $46.06 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for January rose by $0.64 to $43.06 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $3.00 to WTI. Gasoil for December delivery added $10.750.

    Today oil indexes continue to rise as news of a third promising coronavirus vaccine candidate spurred hopes of a quicker recovery in oil demand, while U.S. President-elect Joe Biden received the go-ahead to begin his leadership transition.

    Three separate biotech companies have now announced that their vaccines are effective in preventing at least 90% of Covid-19 cases. The drug developed by latest company to announce its results, AstraZeneca, accounts for around 40% of preliminary sales of vaccines to lower and middle-income countries, and should ensure that an effective vaccine is distributed broadly across global markets. AstraZeneca said on Nov.23 its COVID-19 vaccine was 70% effective in pivotal trials and could be up to 90% effective, giving the world's fight against the global pandemic a third new weapon that can be cheaper to make, easier to distribute and faster to scale-up than rivals. This follows positive trial results from Pfizer/BioNTech and Moderna.

    Optimism for 2021 still has to look through the short-term problems of demand, however. The U.S. continues to report extremely elevated levels of new infections and record numbers of people admitted to hospital with the coronavirus. States and municipalities in the U.S. continue to restrict social gatherings (Nevada Governor Steve Sisolak tightening the screws on casinos in Las Vegas over the weekend). However, there are first signs from Europe that the recent wave of lockdowns is about to get relaxed. France on Nov.20 and the U.K. on Nov.23 both announced plans to relax restrictions ahead of the Christmas shopping season which has acute economic significance.

    At the same time, U.S. President Donald Trump on Monday allowed officials to proceed with a transition to Joe Biden's incoming administration, giving his rival access to briefings and funding even as he vowed to persist with efforts to fight the election results.

    U.S. crude oil inventories likely edged lower last week, while distillate stockpiles were seen decreasing for a 10th straight week, a preliminary Reuters poll showed on Nov.23, ahead of reports from the American Petroleum Institute and the Energy Information Administration (EIA).

    An attack on a Saudi Arabian oil distribution center by Houthi rebels based in Yemen also gave some support to oil indexes. The news briefly triggered memories of the much more disruptive attack last year on pipeline facilities at Abqaiq. However, the substance of Monday’s incident was hardly comparable.

    The market is also focused on a week of technical meetings by OPEC and its allies to prepare the ground for next week's ministerial gathering, which is set to discuss extending oil output curbs into next year due to weak demand amid a second wave of COVID-19.

    We expect bunker prices may rise today: 4-6 USD up for IFO and 7-10 USD up for MGO.




2021 January 21

18:07 Port of Houston awarded new start for Ship Channel
17:50 Throughput of port Vyborg in 2020 fell by 46% Y-o-Y
17:27 Rolls-Royce secures research contract with US Navy to develop innovative debris detection technology
17:03 Galeon Yachts announce new outbourd model
16:42 Throughput of port Vysotsk in 2020 fell by 4% Y-o-Y
16:32 Jan De Nul Group is the first dredging company to carry out 100% sustainable beach replenishments in Belgium
16:23 Yaskawa Environmental Energy develops a permanent magnet propulsion system for superyachts
16:09 MABUX Bunker Weekly Outlook, as of Jan 21, 2021
16:00 Throughput of port Primorsk in 2020 fell by 19% Y-o-Y
15:36 Bunker market see mixed price movements in the Far East ports of Russia (graph)
15:13 Battle stations for boat-handling systems
14:58 Port of Ust-Luga throughput in 2020 declined by 1% Y-o-Y
14:43 MasterCraft Boat Company launches digital boat show experience to connect with consumers amidst dynamic boat show season
14:22 ABS grants AIP for DSME’s Solid Oxide Fuel Cell technology
14:05 20% global e-commerce growth fast tracks supply chain tech adoption from 5 year plans into 2021 action
13:43 Sovcomflot and Total sign time charter agreement for up to 7 years for a newbuilding 174,000-cbm LNG carrier
13:21 TFG Marine to start bunkering operations from Falmouth in the United Kingdom
13:11 Ocean carriers battle the Covid cargo crunch
12:52 Throughput of Port St. Petersburg in 2020 remained flat, year-on-year
12:36 UECC opening doors to a sustainable future
12:08 Crowley awarded fuel distribution contract for Arctic North Warning System
12:03 FESCO transported first containers with grain from Khabarovsk to China
11:41 Wilhelmsen Ship Management becomes a member of the Sustainable Shipping Initiative
11:24 Russian Crab Company Group reports annual operational results for 2020
11:05 MABUX: Bunker market this morning, Jan 21, 2021
10:36 MSC earns maritime sustainability certificate
10:20 Maritime UK welcomes Associated British Ports to the Diversity in Maritime Charter programme
10:05 New container service connecting Port of Immingham with Bilbao
09:37 Crude oil prices decrease as US resources grow
09:19 Baltic Dry Index as of January 20
09:01 Maersk Tankers sees 28% pool expansion in 2020
08:58 ICTSI Manila completes berth expansion

2021 January 20

18:54 Galeon Yachts announce new outboard model
18:15 CMA CGM announces FAK rates from Red Sea to North Europe & the Mediterranean
17:46 Håkan Agnevall assumes the position of CEO of Wärtsilä on 1 February 2021
17:16 SMM DIGITAL to stream conference programme online free of charge
17:01 GTNS supports 4th International Congress “Hydraulic Engineering Structures and Dredging” as its Sponsor
16:42 U.S. blacklists oil tankers for undermining Venezuela sanctions
16:00 Krasnoye Sormovo shipyard launches dry cargo carrier Victor Andryukhin
15:24 Port Houston presents 2040 Plan
15:07 RF Navy’s patrol boat "Yaroslav Mudry" conducts exercises in the sea ranges of the Baltic Fleet
14:45 Amendments to increase safety proposed to Finland's Water Traffic Act
14:26 Polaris sets off for the Bay of Bothnia as the season’s third icebreaker
14:02 First vessel certified with Responsible Fishing Vessel Standard by LR
13:41 SMM DIGITAL: Leading international maritime trade fair to stream conference programme online free of charge
13:23 Port of Los Angeles to reward container terminals for higher truck productivity
13:02 Dublin Port throughput increases by +7.6% in Fourth Quarter of 2020
12:35 Seaports of Okhotsk Sea and Tatar Strait increased their throughput by 4.4% YoY
12:21 Port of Zeebrugge container volume up 10.3 percent in 2020
12:10 CMA CGM announces PSS for cargo from India to North Europe & the Mediterranean
11:43 Rosmorport’s icebreakers completed over 2,400 pilotage operations in freezing seaports of Russia this season
11:18 Global Ports’ consolidated marine container throughput for the full year 2020 increased by 6.6%
10:54 Damen signs with Svitzer for ASD Tug 3212
10:54 Capacity of Russian seaports in 2021 to be increased by 50 million tons
10:30 MABUX: Bunker market this morning, Jan 20, 2021
10:12 Cryogas-Vysotsk reaches LNG milestone of one million tons
09:51 Crude oil prices rise on optimism driven by economy support
09:33 Bunker market sees mixed price movements at the Port of Saint-Petersburg, Russia (graph)
09:16 Baltic Dry Index as of January 19

2021 January 19

18:05 Wärtsilä signs a 5-year long-term service agreement with leading Chinese dredging company