• 2020 February 14 10:27

    MABUX: Bunker market this morning, Feb 14

    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 demonstrated upward changes on February 13:

    380 HSFO - USD/MT 362.77 (+2.78)
    VLSFO - USD/MT 543.00 (+3.00)
    MGO - USD/MT 598.64 (+3.19)


    Meantime, world oil indexes also increased on Feb. 13 on beliefs, that Russia and OPEC will deepen production cuts to prevent worsening of crude demand from a new spike in deaths and infections from China’s Covid-19 epidemic.

    Brent for April settlement increased by $0.55 to $56.34 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for March rose by $0.25 to $51.42 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $4.92 to WTI. Gasoil for March delivery added $4.50.

    Today morning oil indexes are steady amid possibility of deeper supply cuts from major producers.

    China reported a sharp spike in deaths and infections from a new virus after the hardest-hit province of Hubei applied a new classification system that broadens the scope of diagnoses for the outbreak, which has spread to more than 20 countries. The death toll in China reached 1,367, up 254 from the previous day. The number of confirmed cases on Feb.13 jumped by 15,152 to 59,804. But the other countries still believe that China is under-reporting the number of infections and deaths.

    The International Energy Agency (IEA), meanwhile, estimated a drop of 435,000 barrels a day during the first three months of the year. It had previously expected world fuel consumption to grow by 800,000 barrels a day compared with a year earlier. The expected decline in demand prompted the agency to cut its 2020 growth forecast by 365,000 bpd to 825,000 barrels a day, the lowest since 2011. The effects from coronavirus to oil demand will be more significant than those of the 2003 SARS epidemic because of China’s increased importance and integration within the world economy.

    The outbreak has shuttered businesses and prompted the quarantine of tens of millions of people in China, the world’s biggest crude importer. The country accounted for about 75% of last year’s oil-demand growth, according to the IEA.

    The new estimates show that oil markets face a significant surplus despite the latest production cuts by OPEC and its partners. There are still hopes, that OPEC to agree to a 600,000-barrels-per-day cut in production to offset some of the lost demand in crude. However, Russia, a key producer, has so far resisted the initiative, asking for time to study the proposal. Russia will settle its position in a “timely” way, a Kremlin spokesman said on Feb.13. This suggests a decision won't be arriving any time soon.

    At the same time, the OPEC+ alliance had already faced an oversupply in the first half of 2020 because of the ongoing output surge from U.S. shale-oil drillers. That industry is likely to remain resilient against the price slump until later in the year, it predicted. Given the abundance of supply, disruptions in OPEC members such as Libya and Nigeria are having little impact on prices, the agency said.

    We expect bunker prices may increase today: 1-3 USD up for IFO, 1-4 USD up for MGO.




2020 February 22

13:41 CSBA study finds U.S. dredging industry a critical component of national security
11:39 USCG Cutter Legare returns home after interdicting over 3,300 pounds of drugs
10:47 Ray Fitzgerald to rejoin Crowley as COO

2020 February 21

18:12 Digitization of KN: paper is no longer used in the operation of Klaipėda LNG terminal
17:48 NIBULON Shipyard is about to launch second non-self-propelled open type vessel
17:17 CMA CGM announces Emergency Space Surcharge from North Europe, Scandinavia & Poland to West Med, East Med, Adriatic & North Africa
16:59 New roll trailers put into operation at Bronka port
16:04 AS Tallink Grupp’s wholly-owned subsidiary AS Hansatee Cargo merged with Group’s wholly-owned subsidiary AS Tallink
15:25 Russia's Main Department of State Expertise approved adjusted design documentation under Nord Stream 2 project
15:02 OCEAN Industries orders MAN Propulsion Packages for Royal Canadian Navy tugs
14:13 Diana Shipping announces time charter contract for m/v Coronis with Koch and cancellation of the sale of a Capesize dry bulk vessel
13:01 COSCO SHIPPING Lines provides water and rail transport services
12:40 Wärtsilä LPG Fuel Supply System the first ever to undergo engine testing
12:12 ABS to class world’s largest B-Tank VLECs by Jiangnan
11:30 Coronavirus disease 2019 – IMO urges no unnecessary delays to ships
11:09 World’s first LPG-retrofit order exercises option for four additional engines
10:44 MABUX: Bunker market this morning, Feb 21
10:43 Biofouling demands collective, urgent and ‘proactive’ approach, stresses Bellona
10:09 Cod farming set for rebound as savvy investors rush to back Norcod
09:55 Bunker prices are slightly down at the port of Saint-Petersburg, Russia
09:43 GTT acquires Icelandic company Marorka, an expert in Smart Shipping
09:35 BlueWater Reporting closely monitoring blanked sailings amid coronavirus outbreak
09:34 Brent Crude futures price is down 0.73% to $58.88, Light Sweet Crude – down 0.61% to $53.55
09:16 Baltic Dry Index is up to 480 points

2020 February 20

18:27 SMOOTH PORTS Partners met and discussed in Livorno
18:07 UNIIQ invests in Tetrahedron’s innovative crane for next-gen wind turbines
17:52 RF Navy’s Admiral Kasatonov frigate left for Barents Sea to continue testing
17:30 Evergreen issues notice for reefer cargo to Shanghai、Ningbo and Xingang, China
17:17 Tersan Shipyard (Turkey) delivers lead crab catching and processing ship of Project ST184
17:00 West Africa Container Terminal to commence Phase 2 upgrade
16:53 Port of Rotterdam increases sales of LNG and VLSFO
16:53 Indonesia hosts new national workshop on maritime security risk
16:29 UN agencies collaborate to promote seafarers’ rights treaty
16:04 INOK TM and Admiral Makarov SUMIS sign agreement on cooperation
15:38 Rosmorport reports on its icebreaker support in Russian seaports as of February 17, 2020
15:11 Rosmorport changes tariffs for services offered at the seaport of Kaliningrad
14:47 BIMCO joins Japan to regulate carbon intensity of existing ships
14:25 ESPO published its Position Paper on European Green Deal objectives in ports
14:02 CHIMBUSCO starts to supply China-produced low sulphur bunker oil to international ships
13:43 Top-level speakers announced for Unmanned Maritime Systems Technology 2020 in London
13:20 Throughput of Russia’s river ports fell by 11.6%, from 143.1 million tonnes in 2010 to 126.5 million tonnes in 2019
13:01 BC Ferries names and christens the first two Island Class ferries
12:46 Bunker prices are flat at the Far East ports of Russia (graph)
12:31 National Marine Dredging Company and Royal IHC launch TSHD GHASHA
12:08 Port of Baku and Tamiz Shahar cooperate on environmental issues
11:48 Hapag-Lloyd improves operating result by more than 80 percent in 2019
11:41 Port of Gdynia widens its internal entrance to 140 m
11:15 CMA CGM announces PSS for exports from East Russia
10:52 Russian Maritime Register of Shipping introduces new scheme of oil and gas equipment approval
10:24 Main contractor Damen and more than a hundred companies contribute to Combat Support Ship
10:24 MABUX: Bunker market this morning, Feb 20
09:53 Ships of RF Navy’s Baltic Fleet left for Atlantic to perform combat training tasks
09:35 Brent Crude futures price is up 0.32% to $59.31, Light Sweet Crude – up 0.45% to $53.73
09:14 Baltic Dry Index is up to 465 points

2020 February 19

18:37 Eni launches hull for Coral Sul FLNG in offshore Mozambique
18:06 Port of Rotterdam aims to become the most sustainable biorefinery in Europe
17:52 NOVATEK’s 2019 profit grew 5.3 times YoY to RUB 865.5 billion
17:31 Royal IHC launches TSHD GHASHA for National Marine Dredging Company
17:28 Wärtsilä and Carnival achieve real-time data exchange between ship and port
17:06 Jan De Nul finishes deepening works in the Port of Maputo