• 2019 July 31 08:37

    MABUX: Bunker market this morning, July 31

    The Bunker Review was contributed by Marine Bunker Exchange

    MABUX World Bunker Index (consists of a range of prices for 380 HSFO, 180 HSFO and MGO (Gasoil) in the main world hubs) changed insignificant on July 30:

    380 HSFO – USD/MT – 417.88 (-0.14)
    180 HSFO – USD/MT – 452.83 (-0.50)
    MGO – USD/MT – 656.36 (-0.16)


    Meantime, world oil indexes continued upward trend on Jul.30 on optimism the U.S. Federal Reserve will this week cut interest rates for the first time in more than 10 years, supporting fuel consumption in the world’s biggest oil user.
     
    Brent for September settlement increased by $1.01 to $64.72 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for September delivery gained $1.18 to $58.05 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $6.67 to WTI. Gasoil for August added $5.50.

    Today morning oil indexes continue slight upward evolution.

    OPEC could roll over its regime of production cuts until the end of 2020 as demand from the top oil-consuming countries such as the US, China and India continues to slow. Whereas in 2019, the above three countries’ contribution to yearly demand growth is expected to make up 67 per cent of the total, this will decline to 56 per cent in 2020. It is also expected that US oil production will rise to 13 million barrels per day (bpd) early next year from the 12 million bpd level reached recently, adding to the downward pressure on oil prices. Based on current OPEC demand and non-OPEC supply forecasts to 2020, it is likely that another roll-over in output will be required until the end of next year, and that the level of agreed output may need to be even lower than prevailing levels.

    While the Bank of Japan held off on expanding stimulus on Jul.30, it signaled its readiness to do so “without hesitation” if a global slowdown jeopardizes the country’s economic recovery.

    U.S. central bankers began their two-day on Jul.30 and are expected to lower borrowing costs for the first time since the depths of the financial crisis more than a decade ago. Economic growth in the United States slowed less than expected in the second quarter, strengthening the outlook for oil consumption but, elsewhere, disappointing economic data has increased concerns about slower growth.

    U.S. and Chinese negotiators also meet this week for their first in-person talks since agreeing to a truce to their trade dispute at a Group of 20 meeting last month. However, expectations for progress during the two-day Shanghai meeting are low, so officials and businesses hope Washington and Beijing can at least detail commitments for “goodwill” gestures and clear the path for future negotiations.

    Singapore's Energy Market Company will stop producing and publishing price indices for liquefied natural gas (LNG) in the city-state known as “Sling”. It is expected that Sling - short for SGX LNG Index Group - indices will be published until Oct. 31, this year, “provided there is sufficient data for an accurate and robust index to be published".

    Intercontinental Exchange, Inc. (ICE) launched a further nine Marine Fuel 0.5% futures contracts in advance of the implementation of the 0.5% sulphur cap by the International Maritime Organization (IMO) in January 2020. ICE’s new futures contracts expand the existing suite of Marine Fuel contracts launched in February 2019 and will settle against the S&P Global Platts physical Marine Fuel 0.5% assessments. The IMO regulation limits sulphur emissions from shipping bunker fuel, requiring ships to use fuel oil with a maximum sulphur content of 0.5% outside designated emission control areas.

    The American Petroleum Institute (API) reported a crude oil inventory draw of 6.024 million barrels for the week ending July 25, compared to analyst expectations of a much smaller, 1.818-million barrel draw. The inventory draw this week compares to last week’s massive draw of 10.961 million barrels in what was the largest inventory draw this year, according to the API. A day later, the EIA confirmed an inventory drawdown of 10.8 million barrels. The U.S. Energy Information Administration report on crude oil inventories is due to be released at its regularly scheduled time later today.

    We expect bunker prices may turn into slight upward trend in a range of plus 3-6 USD.




2021 January 28

18:47 BIMCO adopts new standard time charter party for accommodation support vessels
18:06 CMA CGM applies PSS for cargo from the Mediterranean & Black Sea ports to the Far East
17:45 FESCO’s vessel departed to Antarctica to supply India's research stations
17:20 Port of Kiel cargo volume down 1.2 % to 6.92 million tons in 2020
17:16 Samskip implements UTURN as their next step in digitisation of container transport
17:14 MABUX releases Bunker Weekly Outlook, Jan 28, 2021
17:01 Damen delivers two FCS 2710 vessels to Hung Hua Construction
16:54 Bunker prices are slightly up in the Far East ports of Russia (graph)
16:35 Cargo traffic on Saimaa Canal in 2020 grew by 11.5% YoY
16:23 Samsung Heavy Industries and Hyundai Heavy Industries choose Svanehøj deepwell pumps for new VLECs
15:23 Valenciaport exceeds 5.4 million containers and 80 million tonnes handled in 2020
14:36 Diesel-electric icebreaker Victor Chernomyrdin starts providing assistance in the Gulf of Finland
14:22 Panama Canal helps save the planet more than 13 mln tons of CO2 in 2020
13:22 Keppel enters into second framework deed with Borr Drilling to defer scheduled delivery of rigs
13:01 Oboronlogistics delivered another batch of construction equipment to Tartus
12:42 Wan Hai Lines confirms orders for 12 new vessels
12:15 Maersk expands cold chain options for fresh fruit from the Black Sea and the Mediterranean to Central Russia
11:53 ABP Humber announce completion of £50 million investment in Humber Container Terminal
11:33 Damen launches FCS 7011
11:30 Port of Southampton marks largest shipment of salt in four years
11:04 BPA: Ports survey reflects mood of tentative optimism for 2021
10:54 Wärtsilä wins major order to provide 36 dual-fuel engines for six new LNG carrier vessels
10:25 KMP lays down six buoy tenders of Project 3050.1А
10:04 MABUX: Bunker market this morning, Jan 28, 2021
09:58 CMA CGM to operate and manage the Port of Alexandria’s future terminal
09:53 Crude oil prices decrease amid demand concerns
09:37 Baltic Dry Index as of January 27
09:22 Draft law on obligations of seaports’ investors approved by State Duma of Russia at first reading
08:26 Port of Newport and CEMEX celebrate new agreement in support of construction industry
07:26 MAN Energy Solutions wins order to power ultra-large Hapag-Lloyd containerships
06:31 Hamburg Port Consulting implements IT integration for automated customs clearance for Cuxport

2021 January 27

18:41 BIMCO adopts new tug, barge and “floating hotel” contracts
18:12 ABS to class first Jones Act wind farm SOV
18:00 ICS published the latest Flag State Performance Table
17:41 Optimarin follows strong 2020 with fight for Norway’s Smartest Business title
17:16 Port of Savannah moves more than 4.6M TEUs in 2020
16:58 Corvette and tanker of RF Navy’s Baltic Fleet call at Limassol port
16:37 Port Of Tanjung Pelepas container volumes up 8% to 9.8 mln TEUs in 2020
16:25 Rosmorport's icebreakers started piloting vessels in Vanino seaport
16:02 New shoreside power system reduces carbon emissions at the Port of Gothenburg
15:41 NORMA Cyber to provide cyber security services to Norwegian shipping
15:04 Star Bulk Carriers announces delivery of three capesize vessels
14:54 TransContainer launched coal transportation in containers
14:29 Port of Rotterdam Authority joins BIM Basis Infra
14:00 RF Government approves draft agreement on exports of Belorussian oil products via seaports of Russia
13:27 24 vessel traffic systems of FSUE “Rosmorport” ensured navigation safety in 2020
12:56 Middle East Transport & Logistics Virtual Expo and Summit (METRANSLOG) to be held as a virtual event on March 8-9
11:45 Bunker prices are stable at the Port of Saint-Petersburg, Russia (graph)
11:42 Damen delivers RSD Tug 2513 to Tug Malta
11:13 FSUE Hydrographic Company outlines its dredging plans for 2021
10:39 Arctic infrastructure development through shipbuilding technologies to be discussed at PortNews’ Congress on March 10-11
10:10 Sibanthracite Group and VostokCoal Management Company sold Port Vera
09:48 MABUX: Bunker market this morning, Jan 27, 2021
09:46 Crude oil prices rise on reduction of US reserves
09:27 Kawasaki Heavy Industries delivers the bulk carrier IZUMI
09:12 Baltic Dry Index as of January 26
08:37 Van Oord presents Climate Risk Overview
07:19 DFDS acquires HSF Logistics

2021 January 26

18:31 DFDS invests in 35,000 sqm warehouse
17:47 ABS, NTU, Singapore, and ASTI joint study to explore the potential for ammonia as a marine fuel in Singapore