• 2019 October 1 08:34

    MABUX: Bunker market this morning, Oct 01

    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 firm downward evolution on Sep.30:

    380 HSFO - USD/MT – 417.73 (-21.78)
    180 HSFO - USD/MT – 456.70 (-22.16)
    MGO - USD/MT – 668.58 (-2.48)

    Meantime, world oil indexes slipped on Sep.30  as China’s economic outlook remained weak even as manufacturing data improved, with the continuing trade war with the United States weighing on demand growth for the world’s largest crude importer.

    Brent for November settlement decreased by $1.13 to $60.78 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for November delivery fell by $1.84 to $54.07 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $6.71 to WTI. Gasoil for October lost $12.00.

    Today morning oil indexes do not have any firm trend so far.

    China’s official Purchasing Managers’ Index (PMI) rose to 49.8 in September, slightly better than expected and advancing from 49.5 in August, expanded for a second straight month as Chinese factories ramped up production and new orders rose. However, it remained below the 50-point mark that separates expansion from contraction on a monthly basis. Meantime, China warned on Sep.30 of instability in international markets from any decoupling of China and the United States, after sources said that U.S. President Donald Trump’s administration was considering delisting Chinese companies from U.S. stock exchanges.

    Saudi Arabia has restored capacity to 11.3 million barrels per day after an attack on its processing facilities this month, though Saudi Aramco has yet to confirm it’s operations have been restored fully. While Saudi Arabia is maintaining exports by using crude from inventories and spare production capacity, it remains unclear how much of its output has actually been restored. Saudi Arabia also warned that oil prices could spike to “unimaginably high numbers” if the world does not come together to deter Iran, but it would prefer a political solution to a military one.

    The US Energy Information Administration (EIA) has projected that world energy consumption will grow by nearly 50% between 2018 and 2050 – with much of the increase coming from non-OECD Asia. The EIA also noted that natural gas and petroleum product consumption is rising in Asia faster than supply is growing, which it said could potentially shift global trade patterns and infrastructure investments. In contrast to energy consumption growth in Asia, EIA projects in the IEO2019 that crude oil production will be concentrated in the Americas, Russia, and the Middle East.

    Freight rates for shipping naphtha and other clean oil products from the Middle East to Japan have jumped 13% to their highest levels in nearly two weeks after Washington imposed sanctions on tanker subsidiaries of China’s COSCO. Rates for crude and oil products tankers have shot up as traders avoided ships linked to COSCO Shipping Tanker (Dalian) Co, Ltd, after the sanctions were announced. Still, the Saudi oil attacks in mid-September had a larger impact on naphtha as it has sent spot premiums soaring to levels not seen since the first-half of 2018.

    Because of long lead times for LNG projects, there is often imbalance between supply and demand. A wave of projects came online this year, pushing prices down to decade-lows. But by 2021, very few new projects will hit the market, a legacy of the shortfall in investment from several years ago during the market downturn. That could lead to market tightness in the early- to mid-2020s.

    We expect bunker prices may continue firm downward trend today in a range minus 6-12 USD.




2021 January 28

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
17:38 Marine Recruiting Agency trained 10% more people in 2020
17:35 Kongsberg signs a Letter of Intent with Yantai CIMC Raffles Offshore to deliver a large technology package for the BT-220IU Wind Turbine Installation Unit