• 2019 December 4 10:03

    MABUX: Bunker market this morning, Dec 04

    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) rose on December 03:

    380 HSFO: USD/MT – 335.62 (+3.93)
    180 HSFO: USD/MT – 379.42 (+3.75)
    MGO: USD/MT – 666.36 (+2.47)


    Meantime, world oil indexes changed insignificant and irregular on Dec.03 as expectations of output cuts from OPEC and allied producers brought prices back up after they slid briefly following comments from U.S. President Donald Trump that a trade deal with China may be delayed.

    Brent for February settlement decreased by $0.10 to $60.82 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for January delivery rose by $0.14 to $56.10 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $4.72 to WTI. Gasoil for December delivery lost $5.00.

    Today morning oil indexes continue slight upward evolution.

    Concerns about the inability of the United States and China, the world’s two biggest oil users, to reach a preliminary deal to resolve their 17-month trade dispute also weighed on oil prices. A senior adviser to President Donald Trump said a U.S.-China trade deal was still possible before the end of the year, adding that the first phase of the agreement was being put to paper, but the talks have been dragging on for weeks now. Meantime, President Trump in turn said a U.S.-China trade agreement might have to wait until after next November’s presidential election.

    Russia is the second-largest producer and the largest exporter of natural gas in the world and the country’s most important customers are in Europe where the bulk of its exports are consumed. The completion of the Power of Siberia pipeline (the official opening of the was on December 2nd) , however, could be a pivotal moment for Moscow as it reduces its reliance on traditional customers in the West. Besides Russia’s relations with Europe, the completion of the pipeline could also affect the import of LNG into China and potentially the trade deal between Beijing and Washington. At the moment is seems that in the short to medium-long term a significant part of China’s gas demand will be supplied by Gazprom. Siberian gas will most likely replace LNG in northeastern China. Several Chinese importers have already hinted that they are thinking of selling LNG cargoes on the spot market as they can buy cheaper piped gas.

    Ecuador may renege on its decision to quit its OPEC membership, which was supposed to take effect January 1, 2020. Ecuador had announced its decision to quit the oil cartel in earlier October, at a time when the country declared a state of emergency as violent protests erupted over the end of fuel subsidies. Its membership cancellation would have saved Ecuador around $2 million dollars in the form of an OPEC membership fee.

    After a decade of unprecedented growth and seemingly endless investments, the Great American Shale Boom is slowing down now and this could have some grave consequences both the industry and the financial markets. A total of 32 oil and gas drillers have filed for bankruptcy through the third quarter, with the total number of bankruptcy filings since 2015 now clocking in at more than 200. Unlike Phase 1 of the oil bust that featured shale production declining due to global price collapse, the current slowdown is being driven partly by industry-wide core operational issues, including declining production due to wells being drilled too close to one another as well as production sweet spots running out too soon. Yet, the most important underlying theme precipitating the collapse is a growing financial squeeze as banks and investors pull in the reins and demand that shale drillers prioritize profitability over production growth.

    The survey showed that the vast majority of ships in the German fleet will run on the new sulphur-reduced fuel in response to IMO 2020. 81% of the companies surveyed will be using 0.50% very low sulphur fuel oil (VLSFO), while 11% will take advantage of their scrubber installations to use high sulphur fuel oil (HSFO). Around 6% said they will be using ‘other fuels, such as those prescribed already since 2015 for Emission Control Areas in the North Sea and the Baltic Sea – fuels with an even lower sulphur content of 0.10%’. One assumes that this includes low sulphur marine gasoil (MGO). Around 2% of the ships in the German fleet will already be operated using LNG after 2020, according to the survey. The survey respondents indicated that ‘the greatest challenge’ will be technical problems encountered during operations in the future, as well as the cost of the new fuel, and the issue of cost compensation by third parties, in particular customers.

    The American Petroleum Institute (API) has estimated a crude oil inventory draw of 3.72 million barrels for the week ending November 28, compared to forecast expectations of a 1.798-million-barrel draw in inventory—the biggest draw since September. Last week saw a build in crude oil inventories of 3.639 million barrels, according to API data. The EIA’s estimates, however, reported a smaller build of 1.6-million barrels for that week. US crude oil production as estimated by the Energy Information Administration showed that production for the week ending November 22 climbed to another brand new high for the week of 12.9 million bpd—more than 1 million bpd over the daily average production at the beginning of the year.

    We expect bunker prices will not have any firm trend today with possible fluctuations in a range of plus-minus 1-4 USD.




2019 December 10

13:30 Bunker prices are almost flat at the Far East ports of Russia (graph)
13:03 DFDS has acquired 100% of the Dutch logistics company Huisman Group
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