• 2020 February 21 10:44

    MABUX: Bunker market this morning, Feb 21

    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) rose slightly on February 20:

    380 HSFO: USD/MT 367.67 (+3.06)
    VLSFO: USD/MT 538.00 (+5.00)
    MGO: USD/MT 600.24 (+5.50)


    Meantime, world oil indexes rose slightly on Feb.20 after the U.S. government reported a much smaller-than-anticipated rise in crude stocks, but gains were capped by worries about the spread of Coronavirus outside China.

    Brent for April settlement increased by $0.19 to $59.31 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for April rose by $0.59 to $53.88 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $5.43 to WTI. Gasoil for March delivery gained $2.00.

    Today morning global oil indexes fell amid concerns over fuel demand as the coronavirus epidemic spread further beyond China.

    U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 400 thousand barrels from the previous week. At 442.9 million barrels, U.S. crude oil inventories are about 2% below the five year average for this time of year. A day before its weekly petroleum status report, the EIA revised down its forecast for global oil demand for this year, adding pressure to prices. It was not a small revision, either: at 378,000 bpd it beats both OPEC’s and the International Energy Agency’s downward demand outlook revisions.

    The coronavirus outbreak pressured international oil prices significantly and the pressure is yet to start going away despite tentative suggestions that the rate of infection may have peaked and quarantines were ending. This could lead to more travel and some improvement in fuel demand, but the improvement will be slow in coming as market is extra cautious, with millions of people working from home. Meantime, on Feb.20 South Korean authorities confirmed 52 new coronavirus infections. The streets of Daegu, the country’s fourth-largest city, were deserted on Feb.20 after dozens of people there went down with the pathogen in what authorities described as a “super-spreading” event.

    Chinese oil refiners have cut their daily run rates further, to around 10 million bpd, which is the lowest since 2014. Refiners began lowering their run runs in response to the slump in demand for oil products because of the coronavirus outbreak. State refiners had cut their processing rates by some 10 percent or 940,000 bpd but independent refiners had cut even deeper, at around 25 percent of what they processed before the outbreak.

    Russia’s biggest oil producer and largest taxpayer, Rosneft, reported a net income for 2019 that was 29 percent higher on the year, despite market uncertainties and negative factors such as the continued production cuts of the OPEC+ coalition and the oil contamination crisis last spring. Positive results is possible due to higher operating income and lower financial and other expenses. Rosneft’s 2019 results release came a day after the United States slapped sanctions on one of its subsidiaries, Rosneft Trading, for helping Venezuela’s Nicolas Maduro to sell crude oil.

    Turkey said Kurdish fighters in Syria are smuggling oil out of the war-torn country in partnership with the U.S. As per statement, oil from Syria’s oil-rich Deir Ezzor region is being smuggled out of the country onto Iraq and from Iraq’s port of Basra it is being shipped to the United States. Authorities from Sweden, Denmark, the Netherlands, and Egypt have also taken samples of that oil. After a surprise announcement of pulling the U.S. troops out of Syria in October last year, U.S. President Donald Trump said that the United States would protect Syrian oil fields from ISIS. At the end of last year, it was reported that the United States had moved more equipment from Iraq into Syria to boost the protection of the oil and gas fields in eastern Syria.  

    Conflict in Libya that has led to a blockade of its ports and oilfields shows no signs of a resolution. The head of Libya’s internationally recognised government Fayez al-Serraj dashed hopes of reviving peace negotiations after the Libyan National Army of Khalifa Haftar shelled the port in the capital Tripoli, held by al-Serraj’s government. The shutdowns in Libya, ongoing for over a month, have slashed the OPEC member’s crude production by over 1 million barrels per day.

    We expect bunker prices may change insignificant and irregular today in a range of plus-minus 1-4 USD.




2020 March 31

18:06 APM Terminals Nigeria donates $US 200,000 to UN Nigeria Basket Fund
17:51 New publication offers updated maritime security guidance for mariners operating off West Africa and Gulf of Guinea
17:36 Manila ports fear shut down due to continued cargo congestion
17:20 Floating workshop of RF Navy's Baltic Fleet completed tasks in Mediterranean Sea
17:06 Yang Ming reveals 2019 financial report
16:55 State Duma of Russia approved in first reading expansion of resource base for LNG production projects
16:23 Rolls-Royce supplies innovative propulsion system for new multi-purpose vessels in the North and Baltic Seas
16:18 Nauticor and Novatek cooperate in the development of small-scale LNG supply infrastructure in the Baltic Sea
15:28 Bunker prices continue going down at the Far East ports of Russia (graph)
15:04 ClassNK establishes "Rules for the Survey and Construction of Governmental and Naval Ships"
14:42 NOVATEK declares LNG transshipment in Norway to be a temporary measure caused by Covid-19 pandemic
14:23 Wärtsilä Translink becomes first ever solution fully compliant with latest IEC and DNV GL Cyber Security rules
13:36 Krasnoye Sormovo to build three more ships of RSD59 design
13:09 Hapag-Lloyd revises North Europe – CAF May 1, 2020
12:51 Navigation season opens at Coal Sea Port of Shakhtersk
12:27 Krasnoye Sormovo shipyard completed sea and mooring trials of Pola Yaroslava, dry cargo carrier of Project RSD59
12:09 Verifavia partners with OSM Maritime Group to provide IHM services
11:44 Operations under quarantine arranged by Troitsa Bay Seaport (MPBT)
11:30 Vostochny Port arranged operations under quarantine
11:08 ABS supports U.S. COVID-19 response
10:45 Cruise shipping to be suspended in the port of Kiel until end of April
10:08 COSCO SHIPPING Holdings announces 2019 results
09:46 MABUX: Bunker market this morning, Mar 31
09:33 Baltic Dry Index is down to 548 points
09:16 Brent Crude futures price is up 2.12% to $26.99, Light Sweet Crude – up 5.67% to $21.25
09:08 Sergey Shishkarev headed the Board of Directors of PJSC TransContainer
08:44 Hapag-Lloyd appoints new executive in Asia
08:44 Aker Solutions secures brownfield services contract in Brunei

2020 March 30

18:30 Ecochlor announces collaboration with Horizon Air Freight to expand shipping services
18:15 Inmarsat takes founding role in first Decarbonising Shipping programme for Asian start-ups
18:05 Start of cruise season in Kiel to be postponed until end of April
17:57 Globaltrans’ profit for 2019 climbed 16% YoY to RUB 22.7 billion
17:03 CMA CGM announces PSS from Romania to the Mediterranean
16:35 OOCL announces Transpacific product update
16:20 About 40 small- and mid-size ships to be built for Russia’s Far East by 2025
16:03 ClassNK releases Guidelines for Non-destructive Inspection by Phased Array Ultrasonic Testing
15:45 Gasum to supply Preem with renewable maritime fuel
15:24 Two ferries operate between seaports of Kaliningrad and Ust-Luga
15:03 NuStar extends Svitzer contract in Point Tupper, Canada, by five years
14:58 5G innovation put to a practical use in the Port of Zeebrugge
14:46 Global Ports terminals add new transit intermodal service from Europe to Asia via Russia
14:28 BPO and BTJ prepared overview of measures introduced in ports and shipping lines within Baltic Sea region
14:02 Port Houston posts cargo volume results for Feb 2020
13:51 Average wholesale prices for М-100 HFO fell to RUB 8,177 in RF spot market
13:20 Wärtsilä signs agreement with Kuribayashi Steamship in Japan for deployment of innovative gate rudder technology
13:10 Maersk’s first intercontinental train from Europe to Asia dispatched from St. Petersburg
13:03 Tianjin Port Development announces 2019 unaudited annual results
12:29 United Shipbuilding Corporation establishes center for prevention of Covid-19 spread
12:02 Ports of Bremen fully functioning
11:37 Abu Dhabi, UAE to host ADIPEC 2020 on November 9-12
11:12 MABUX Digest: Top events on global bunker market. Week 13
11:02 First-stage land usage permit issued to APM Terminals Poti
10:50 KN moves its LNG Terminal from its normal location due to cleaning work
10:28 Port of Riga reports no significant changes in cargo handling
10:21 Panama Canal backs efforts to expedite return home of the passengers and crew on Holland America’s Zaandam
10:04 NCSP Group published its consolidated financial results for 12 months 2019
09:41 MABUX: Bunker market this morning, Mar 30
09:26 RF Government limits crossing of state border checkpoints
09:09 Baltic Dry Index is down to 556 points

2020 March 29

16:29 Coast Guard and a salvage towing company rescued three people near Key Largo