• 2019 November 14 10:16

    MABUX: Bunker market this morning, Nov 14

    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) slightly decreased on Nov.13:

    380 HSFO - USD/MT – 342.15 (-2.93)
    180 HSFO - USD/MT – 386.39 (-1.00)
    MGO - USD/MT – 661.33 (-1.57)


    Meantime, world oil indexes turned into moderate upward movement on Nov.13 after OPEC said it saw no signs of global recession and rival U.S. shale oil production could grow by much less than expected in 2020.

    Brent for January settlement increased by $0.31 to $62.37 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for December delivery rose by $0.32 to $57.12 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $5.25 to WTI. Gasoil for November delivery gained $0.25.

    Today morning oil indexes continue slight upward trend.

    The Secretary General of the Organization of the Petroleum Exporting Countries, Mohammad Barkindo, said global economic fundamentals remained strong and that he was still confident the United States and China would reach a trade deal. He also said some U.S. companies were now saying U.S. oil production would grow by just 0.3-0.4 million barrels per day next year - or less than half of previous expectations - reducing the risk of an oil glut next year.

    U.S. President Donald Trump said on Nov.13 that the U.S. and China were close to finalizing a trade deal, but he fell short of providing a date or venue for the signing ceremony.

    As per the IEA report, until about 2025 global oil demand will expand by about 1 percent annually, exceeding 100 million bpd and reaching 105.4 million bpd. After that growth will shrink substantially and demand will reach a plateau at less than 110 million bpd—106.4 million bpd. Also, according to IEA, natural depletion will shrink oil supply and lead to an increase in prices. These, the agency said, could average $90 a barrel in 2030 and $103 a barrel in 2040. Agency also said that even as production growth in the United States slows from breakneck pace of recent years, the world's top oil producer will still account for 85% of the increase in global oil production to 2030, and for 30% of the increase in gas. The higher U.S. output pushes down the share of OPEC members and Russia in total oil production, which is expected to fall to 47% in 2030 from 55% in the mid-2000s.

    France, Germany, Britain, Russia, China, Iran as well as the US discussed a new framework at the UN General Assembly in late September. The proposed new deal would have Iran permanently abjuring nuclear weapons, conforming to a long-term framework of peaceful nuclear technology, and contributing to regional stability and noninterference in return for the US lifting sanctions. Restricting the Islamic Republic’s ballistic missiles was set aside for future discussion. There is no any visible reaction from Iran so far.  

    In the United States, crude oil inventories were forecast to have risen for a third straight week last week, while refined products inventories likely declined. The forecast expects that crude inventories rose by around 1.6 million barrels in the week to Nov. 8.

    The Power of Siberia gas pipeline that will bring Russian natural gas to China, and will start operations in December. The Power of Siberia, one of the largest natural gas pipeline projects in the world, will transport natural gas from the Irkutsk and Yakutia production centers to consumers in Russia’s Far East and to China. Gazprom is dominating gas supplies to many European markets, while it also vies to meet rising Chinese natural gas demand as the country is in the middle of a massive switch from coal-fired to gas-fired heating in millions of homes. Gazprom expects its market share in China to grow from zero to more than 25 percent of Chinese gas imports and to account for 13 percent of China’s gas consumption by 2035. By that year, Gazprom vies to be the number one gas supplier to both Europe and China.

    The American Petroleum Institute (API) has estimated a crude oil inventory draw of 500,000 barrels for the week ending November 7, compared to analyst expectations of a 1.649-million-barrel build. Last week saw a build in crude oil inventories of 4.26 million barrels, according to API data. The EIA’s estimates, however, reported a build of 7.9-million barrels for that week. US crude oil production as estimated by the Energy Information Administration showed that production for the week ending November 1 stayed at the all-time high of 12.6 million bpd for the fifth week in a row.

    We expect bunker prices may rise today in a range of plus 1-4 USD.




2019 December 10

12:45 Throughput of Russian seaports in 11M’19 grew by 2.7% to 766.83 million tonnes
12:24 Research vessel Admiral Vladimirsky of RF Navy's Baltic Fleet reaches the Atlantic Ocean
12:03 APM Terminals Gothenburg takes another major step in their jour-ney towards climate neutrality
11:30 Ships powered by electricity can prove to be more economically efficient than ships running on LNG – Aleksey Rakhmanov
11:26 MABUX: Bunker market this morning, Dec 10
11:02 New low-sulphur bunker oil popular in the port of Rotterdam
10:25 Pella Sietas secures construction of icebreaker of ice class "Icebreaker7" and largest single order in company history
10:21 Igor Belousov, rescue vessel of RF Navy's Pacific Fleet, concluded its visit to Vietnam
09:59 Baltiysky Zavod concerned about possible delay in construction of Ural icebreaker amid slow delivery of turbines
09:32 Brent Crude futures price is down 0.17% to $64.14, Light Sweet Crude – down 0.22% to $58.90
09:16 Baltic Dry Index is down to 1,551 points
09:08 CSSC and DNV GL sign new strategic cooperation agreement
08:07 Alewijnse delivers complete portfolio on AMELS 60
07:54 Tramarsa purchases Damen Cutter Suction Dredger for 30-year strategy of expansion

2019 December 9

18:24 Lead chemical carrier of Project 00216М, PortNews, to be delivered as scheduled – USC President
18:06 Vard Marine supports New York’s Gowanus repowering project through design package for two power barges
17:53 Navigation season of 2019 closed in Volga Basin of Russia’s IWW
17:36 Oldendorff Carriers announces its membership in the Getting to Zero Coalition
17:19 Average wholesale prices for М-100 HFO down to RUB 7,795 in RF spot market
17:06 Bahri joins Maritime Anti-Corruption Network to promote collective anti-bribery efforts in maritime sector
16:48 Delo Group and ROSATOM defined procedure for acquisition of 30-pct stake of MC “Delo”
16:30 Puerto Aguadulce services largest vessel to dock in Colombia
16:14 GT Morstroy expands its fleet with jack-up platform of Project RCP 250, Varzina
16:01 His Majesty the King to open Johan Sverdrup
15:57 Risk Intelligence signs agreement for the Risk Intelligence System with Hafnia
15:50 Port of Liepaja (Latvia) handled 6.67 million tonnes of cargo in 11M'2019, down 3.2% Y-o-Y
15:27 Lead hydrographic survey vessel of Project 23370G completed state trials
15:03 Maritime and Port Authority of Singapore revokes Inter-Pacific Petroleum bunker supplier licence
14:35 MSC becomes first major shipping line to use 30% biofuel blends
14:32 Teachers of Marine College upgraded their skills at Marine Recruiting Agency
14:03 ABS grants AIP to Deltamarin and GTT for dual-fuel Newcastlemax design
13:11 Martin Ackermann steps down as CEO of BW LPG
12:28 Oboronlogistics provides stability of the ferry line Ust-Luga — Baltiysk
12:04 Rotterdam to host 4th European Environmental Ports Conference on 24-25 June 2020
11:40 BIMCO to publish new shortened law and arbitration clause
11:16 BIMCO submits biofouling survey results to IMO
11:09 MABUX: Bunker market this morning, Dec 09
10:53 Industry roundtable meeting feeling more positive on IMO 2020
10:31 New and largest DFDS ro-ro ship 'Hollandia Seaways' sails between Gothenburg and Ghent in North Sea Port
10:09 REMPEC hosts a three-day training in Tekirdağ, Turkey
09:29 Brent Crude futures price is down 0.39% to $62.14, Light Sweet Crude – down 0.52% to $58.89
09:15 Baltic Dry Index is down to 1,558 points

2019 December 8

16:47 ABS and CINS facilitate development of risk-based approach to minimize risk of container fires
15:32 Sea Machines & HamiltonJet collaborate to merge capabilities of autonomous control and jet propulsion systems
14:46 GWS installing turbines at Northwester 2 Offshore Wind Farm
13:22 Norsepower collaborates with SWS for cost and energy efficient VLCC designs
12:14 Grieg Star adds 64000dwt bulk cargo carrier to its fleet
11:05 ABS grants AIP for first Jones ACT SOV

2019 December 7

16:55 USCG Cutter Steadfast returns to port after 60-day counter drug patrol
15:42 TEN announces charter extension for an LNG carrier
13:08 FMT and Indian Register of Shipping sign MOU on strategic cooperation
11:34 AET secures long-term DPST charter contracts with Shell
10:37 Titan LNG tenders for 8000 cbm LNG bunker barge

2019 December 6

18:11 Lithuania aims to ensure state management of „Rail Baltica“ infrastructure
17:55 More operative services of towboats in the Port of Klaipėda
17:28 Acceptance/delivery certificate for Kalas, first rescue tugboat of Project MPSV12
17:06 APM Terminals Gothenburg takes another major step in their journey towards climate neutrality
16:04 Damen Shiprepair Amsterdam MD receives Harbour Medal
15:57 Northern Sea Route cargo traffic totaled 27.59 million tonnes YTD, up almost 70% Y-o-Y
15:26 IAPH Women’s Forum’s initiative “Women in Ports Mentoring Program” now extended to female Harbour Masters