• 2019 December 5 12:17

    MABUX: Bunker market this morning, Dec 05

    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) demonstrated irregular changes on December 04:

    380 HSFO: USD/MT – 335.42 (-0.20)
    180 HSFO: USD/MT – 380.04 (+0.62)
    MGO: USD/MT – 665.58 (-0.78)


    Meantime, world oil indexes jumped on Dec.04. on expectations that OPEC and allied producers would extend production curbs, and as U.S. government data showed a large drop in domestic crude stockpiles

    Brent for February settlement increased by $2.18 to $63.00 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for January delivery rose by $2.33 to $58.42 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $4.57 to WTI. Gasoil for December delivery added $13.23.

    Today morning oil indexes deep ahead of OPEC talks in Vienna later today.

    The Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia could approve deeper crude output cuts when they meet in Vienna this week. Iraqi oil minister Thamer Ghadhban told that a deeper cut is being preferred by a number of key members. He added he would support at least extending existing cuts to end-2020 from March. However, some remained skeptical of whether OPEC+ will deepen cuts, though many expect an extension of the existing supply pact. OPEC members meet today, with the OPEC+ group meeting the following day. OPEC+ has been curbing supply since 2017 and is expected to keep the cuts in place to balance out record production in the United States. Prices briefly dipped after a report that Saudi Arabia is threatening to boost oil production unilaterally if some OPEC nations continue to defy the group’s output curbs. Saudi Arabia has been bearing the brunt of the cuts, while some members, like Russia, Nigeria and Iraq, are still not in complete compliance

    The J.P. Morgan forecasts that the deal will be for cuts of 1.5 million barrels a day, extended through June. The ongoing agreement between OPEC, Russia and other non-OPEC producers is for a 1.2 million barrel a day reduction. Larger cuts should make the market tighter and help boost prices. U.S. shale production has surged to 12.9 million barrels a day, while OPEC and its partners have held oil off the market. Goldman Sachs oil analysts expect OPEC plus to keep its production cut at current levels and to extend them through June, when the OPEC plus group is next scheduled to meet. The Goldman analysts expect oil prices to be choppy around this week’s meeting because there is so much uncertainty about what the producers will do. At the same time, Fitch Solutions said oil prices are likely to fall next year as oil supplies keep rising, outweighing any pickup in growth. It predicted Brent crude will drop to an average of $62 a barrel in 2020 and $58 in 2021, from a $64 average this year.

    According to the Energy Information Administration said U.S. crude stocks fell by 4.9 million barrels in the week to Nov. 29 as refineries hiked output. It was expected a decrease of 1.7 million barrels. Crude stocks at the Cushing, Oklahoma, delivery hub fell by 302,000 barrels, EIA said.

    AT the same time refinery crude runs rose by 464,000 barrels per day, EIA data showed. Refinery utilization rates rose by 2.6 percentage points. Gasoline stocks rose by 3.4 million barrels, compared with expectations for a 1.8 million-barrel gain. Distillate stockpiles, which include diesel and heating oil, rose by 3.1 million barrels, versus expectations for a 1.1 million-barrel increase. Net U.S. crude imports rose last week by 144,000 barrels per day. The U.S. four-week average for commercial crude oil imports fell to its lowest since 1992.

    The uncertainty over prospects for a trade deal between the United States and China still remain. The dispute between the world’s two biggest economies has weakened the global economy and limited oil demand growth. U.S. President Donald Trump said on Dec.04 that trade talks with China were going “very well,” sounding more positive than he did a day earlier when he said a deal may have to wait until after the 2020 election.

    We expect bunker prices may demonstrate upward changes today: 6-8 USD up for IFO, 6-9 USD up for MGO.




2020 January 22

18:37 BunkerTrace secures first commercial partnership with Marfin Management
18:07 MAN Cryo to supply icebreaking RoRos with fuel gas supply system
17:45 Throughput of Chinese sea and river ports in 2019 grew by 5.7% YoY to 13.95 billion tonnes
17:20 Ships of RF Navy’s Northern Fleet approached the Strait of Tunis
17:06 Boluda Towage Europe introduces 1st retrofit of conventional tug complying with IMO TIER III Standards in Zeebrugge
16:56 Russian-Japanese anti-piracy exercise successfully completed in the Arabian sea
16:05 European shipping industry urges the revival of Operation Sophia
15:38 Marubeni and Klaveness join forces to create the world’s leading dry bulk Panamax pool
15:23 IMO Secretary-General calls for renewed cooperation at Davos forum
14:57 Positive steps for Somalia’s maritime sector
13:40 Medium sized sea tanker Akademik Pashin entered service with the Baltic Fleet
12:52 Bunker prices are slightly down at the port of Saint-Petersburg, Russia (graph)
12:29 Nonius Engineering supports 7th International Forum of Dredging Companies as its Sponsor
11:44 NIBULON’s fleet transported a record number of cargoes by Ukrainian rivers in 2019
11:19 DNV GL’s Technology Outlook 2030: Digital acceleration and climate change
11:01 IMO Secretary-General assesses progress on sulphur limit implementation
10:58 NIBULON’s non-self-propelled B1500 Project vessel made its first cargo trip
10:36 Nibulon achieved record export results in 2019
10:13 Representatives of Russian and Japanese Navies held briefing on board Baltic Fleet’s guard ship
10:10 MABUX: Bunker market this morning, Jan 22
09:51 Ministers of the Government of the Russian Federation appointed
09:32 Brent Crude futures price is down 0.4% to $64.33, Light Sweet Crude – down 0.48% to $58.1
09:15 Baltic Dry Index is down to 689 points

2020 January 21

18:27 ABS and Hyundai Heavy Industries complete landmark smart functions JDP
18:07 Mystic orders four more Explorer Class Polar expedition vessels
17:43 Outer Port is among main topics of Polish-Japanese economic cooperation
17:19 Wärtsilä LNG Bunkering & Fuel Supply System Simulator launched to raise training levels
17:18 BCT ends 2019 with highest every cargo handling of 500 000 TEU
16:55 Letter of Intent signed between Port of Gdynia Authority S.A. and Pelixar S.A.
16:14 New ASCO vessel to be named after Academician Khoshbakht Yusifzadeh
15:30 Port of Singapore throughput in 2019 declined by 0.6% to 626.18 million tonnes
15:01 Freight turnover of Neva-Metal (Saint-Petersburg) in 2019 remained flat Y-o-Y at 3.2 million tonnes
14:39 18,880 ships with total tonnage of 1.2 billion tonnes passed Suez Canal in 2019
14:06 BIMCO issues update on Persian Gulf tensions and sanctions clauses
13:42 Rosmorport reports on icebreaker support in Russian seaports as of mid-January 2020
13:17 Throughput of port Kaliningrad in 2019 fell by 21% Y-o-Y to 11.06 million tonnes
12:53 Eesti Gaas becomes one of the largest LNG suppliers in the region
12:28 Throughput of port Vyborg in 2019 fell by 37% Y-o-Y to 1.21 million tonnes
12:05 German Naval Yards Kiel takes legal actions against MKS 180 procurement
11:54 Bunker sales at the port of Singapore in 2019 fell by 4.6% Y-o-Y to 47.5 million tonnes
11:29 Throughput of port Vysotsk in 2019 climbed by 3% Y-o-Y to 19.40 million tonnes
11:05 Fincantieri enters the green cutting-edge project “ITER”
10:52 Throughput of port Primorsk in 2019 grew by 14% Y-o-Y to 61.02 million tonnes
10:37 Software for ship agents supported with digitalisation grant
10:21 Baltic Dry Index is down to 729 points
10:05 Brent Crude futures price is down 0.55% to $64.84, Light Sweet Crude – down 0.32% to $58.39
09:53 MABUX: Bunker market this morning, Jan 21
09:47 MOL Logistics (Thailand) strengthens total logistics services
09:30 Port of Ust-Luga handled 103.85 million tonnes in 2019, up 5% Y-o-Y
09:13 Throughput of Port St. Petersburg in 2019 grew by 1% to 59.87 million tonnes
08:44 Maersk Drilling awarded two-well contract extension for low-emission rig Maersk Integrator under Aker BP alliance
07:41 Kuehne + Nagel to accelerate development in Asia Pacific

2020 January 20

18:37 Semi-submersible installation vessel ‘Alfa Lift’ nominated for Offshore Renewables Award 2020
18:06 Freeport LNG achieves start of commercial operations for second liquefaction train
17:55 Russia and Japan to conduct joint exercise in the Arabian sea
17:39 Kawasaki Heavy Industries announces delivery of bulk carrier NAVIOS FELICITY Ⅰ
17:34 Corvette "Gremyaschiy" completed a series of tests in the Barents sea
17:06 MSC Cruises and Chantiers de l’Atlantique sign contracts for construction of third and fourth LNG-powered MSC World Class ships
16:52 Cryostar and KC LNG awarded contract for building LNG facility in port of Antwerp
16:33 London, UK to host Digitalised Smart Ports Conference on 20-21 May 2020