• 2020 January 23 10:56

    MABUX: Bunker market this morning, Jan 23

    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 declined on January 22:

    380 HSFO: USD/MT – 379.48 (-1.65)
    180 HSFO: USD/MT – 624.00 (-3.00)
    MGO: USD/MT – 667.43 (-6.52)


    Meantime, world oil indexes fell on Jan.22 as the International Energy Agency's (IEA) forecast of a market surplus in the first half of this year.

    Brent for March settlement decreased by $1.38 to $63.21 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for March fell by $1.64 to $56.74 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $6.47 to WTI. Gasoil for February delivery declined by $16.75.

    Today morning oil indexes continue to decline as the American Petroleum Institute (API) reported that crude inventories rose last week.

    According to the API, oil inventories gained by 1.6 million for the week ended Jan. 17. The Energy Information Administration (EIA) will report its weekly inventory numbers today, one day later than usual due to the Martin Luther King Day Holiday on Monday. It is expected that crude stockpiles fell by 1 million barrels last week, extending the previous week’s drop of 2.5 million barrels.

    At the same time, the IEA expects the market to be in surplus by a million barrels per day (bpd) in the first half of this year. Supply worries were underlined by remarks Tuesday by International Energy Agency (IEA) on the sidelines of the World Economic Forum annual meeting in Davos, Switzerland. It sees “an abundance of energy supply in terms of oil and gas. It’s the reason that recent incidents we have seen — with the Iranian general killed, Libya unrest — didn’t boost international oil prices”.

    Libya's National Oil Corp on Jan.20 declared force majeure on the loading of oil from two major oil fields after the latest development in a long-running military conflict. Unless oil facilities quickly return to operation Libya's oil output will be reduced from about 1.2 million barrels per day (bpd) to just 72,000 bpd.

    Meanwhile the indexes were pressed down by the emergence from China of a new strain of a coronavirus, with concern focused on the impact a pandemic might have on economic growth. The outbreak has stirred memories of the SARS epidemic of 2002-2003. Should the new virus develop into SARS-like proportions, hitting travel and growth, demand for oil could fall by 260,000 bpd. The mysteries coronavirus killed at least 17 people and infected hundreds of people in China will continue to spread to other countries. It is already found in Hong Kong, one diagnosis in the U.S. and Macau, and patients under examination in Japan, Mexico and Russia. On Jan.23, China’ state broadcast CCTV reported that Beijing has issued a travel suspension in Wuhan, a city of 11 million. All outbound flights and rail service are banned, according to the report, which said “citizens should not leave the city without special reasons.” The halt also includes travel by bus, subway and ferry.

    Supply is still likely to rise, with U.S. crude production in large shale deposits expected to rise to record highs in February, although the pace of increase is likely to be the lowest in about year, the U.S. Energy Information Administration (EIA) said on Jan 21. Inventories of crude oil in the U.S. are likely to have fallen last week.

    U.S. President Donald Trump on Jan.22 vowed dramatic action with the World Trade Organization, saying the group's director general would visit Washington as soon as next week, but giving no other details. The WTO lost its ability to intervene in trade disputes after the United States effectively paralyzed it when two of three members exited, leaving the trade arbiter unable to issue rulings.

    South America’s largest oil producer, Brazil, will launch discussions on potentially joining OPEC in July. However, even if talks are successful, Brazil is not expected to become a member of OPEC this year. The idea that Brazil may join OPEC was first aired in October last year, when Brazilian President Jair Bolsonaro said that OPEC’s top producer and de facto leader Saudi Arabia had informally asked Brazil to join the organization.

    We expect bunker prices will continue to fall: 5-7 USD down for IFO, 14-16 USD down for MGO.




2020 April 5

17:08 USCG oversees disembarkation of 250,000 from cruise ships
16:23 PGS announces capacity adjustments, to lay-up its 3D vessels as a response measure to COVID-19
15:14 Coast Guard Cutter Hamilton offloads more than 20,000 pounds of illegal drugs
14:33 Huntington Ingalls Industries awarded $1.50 billion contract for the construction of LPD 31
13:27 PGS completes acquisition on Kwanza Shelf and releases fast-track data
12:13 Viking launches new channel VIKING TV with daily cultural content
11:29 Crowley tugs work together to load LP Odyssey launch platform for offshore ship transfer
11:06 APL announces arrangement for cargo bound for Chittagong
10:14 U.S. Navy selects HII to provide logistics support for surface ships and submarines

2020 April 4

16:41 Bollinger delivers the 38th FRC Harold Miller to the USCG
15:21 APL announces new LSS as from May for Trans-Pacific eastbound market
14:47 Viking announces Mississippi River cruises
13:34 Iridium partner Globalsat equips Argentine Navy’s Fortuna III yacht with Iridium Certus® Service
12:23 BlueWater Reporting posts report on COVID-19’s impact on China’s box volumes, economy
11:08 Torqeedo's milestone 100,000th electric drive goes to Spirit Yachts

2020 April 3

18:42 Concordia Damen nominated to build new, sustainable training vessel for STC Group
18:27 Diana Shipping announces time charter contract for m/v Alcmene with Cargill
18:07 Breakbulk Europe to take place from 29 September to 1 October 2020
17:51 Northern Sea Route cargo traffic in 3M’2020 totaled 7.83 million tonnes, up 7.7% YoY
17:28 ECSA Board: Shipping industry keeps Europe running but will need more EU support to recover
17:14 Tallink continues transporting passengers on Tallinn-Helsinki route
16:50 GT Morstoy completed slope protection under LUGAPORT project
16:25 World Maritime University stays connected in uncertain times
15:46 FESCO provided agent services for vessel delivering platform of Sea Launch spaceport to Primorye Territory
15:22 Rosmorport's Azov Basin Branch carries out measures to prevent COVID-19 spread
14:57 New bunker alert service available for BIMCO members
14:33 NUTEP recognized as best in Basic business activities nomination of Best Stevedore contest
13:49 DeloPorts continues to operate despite quarantine and days off in Russia
13:24 AS Tallink Grupp published its statistics for March and first quarter of 2020
13:01 Zeebrugge Port Authority facilitates extra ground for port users in need due to corona crisis
12:40 Crisis caused by Covid-19 brought changes and highlighted new opportunities for port of Riga
12:18 Sea Port of Saint-Petersburg JSC arranged testing of its employees to detect coronavirus
12:15 Ocean Yield ASA announces delivery of modern dry bulk vessel with long-term charter
11:52 Vladimir Solodov appointed as Acting Governor of the Kamchatka Territory
11:00 Samherji Holding granted an exemption from mandatory bid obligation in Eimskip
10:49 Сorvettes of RF Navy's Baltic Fleet completed training anti-submarine missions at sea
10:21 Brent Crude futures price is down 4.51% to $28.69, Light Sweet Crude – down 5.73% to $23.87
10:00 Bunker prices continue falling at the port of Saint-Petersburg, Russia
09:42 Viking Line continues service in the Baltic Sea
09:36 Yury Bezdudny appointed Acting Governor of Nenets Autonomous Area
09:18 Baltic Dry Index is flat at 624 points
09:09 MABUX: Bunker market this morning, Apr 03
08:33 Ocean Network Express issues its first electronic Bill of Lading

2020 April 2

18:27 FSL Trust completes disposal of crude oil tanker
18:07 CMA CGM announces that this Low Sulphur Surcharge is not applicable
17:54 Aleksandr Tsybulsky appointed as Acting Governor of Arkhangelsk Region
17:31 MAN Energy Solutions's low-speed, dual-fuel engines pass 1,000,000 operating hours
17:16 VARD secures contract for one stern trawler for Framherji
16:59 DHT Holdings announces time charters for six of its VLCCs
16:30 Navigation season opens on the Lower Volga
15:48 PGNiG commences operations at Klaipėda LNG Reloading Station
15:15 World’s largest and most efficient krill trawler to be designed by Wärtsilä
15:13 SMM: Shipping industry steers towards digitalisation
14:49 Bunker prices show no considerable changes at the Far East ports of Russia (graph)
14:26 Vitol Group establishes foothold in Singapore bunker operations
14:02 A.P. Moller - Maersk completes acquisition of Performance Team
13:37 Law ranking heavy fuel oil as medium distillate comes into effect
13:14 Hapag-Lloyd announces GRI from East Asia to East Coast and West Coast of South America, Mexico, Caribbean and Panama
12:52 Covid-19: Passenger transportation by seaborne transport and traffic of small-size ships banned in Crimea
12:25 ABP update: port operations remain open for business