• 2019 October 25 09:13

    MABUX: Bunker market this morning, Oct 25

    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 slight upward trend on Oct.24:

    380 HSFO - USD/MT – 358.90 (+3.66)
    180 HSFO - USD/MT – 399.89 (+2.91)
    MGO - USD/MT – 666.65 (+0.94)


    Meantime, world oil indexes also rose on Oct.24 amid a surprise drop in U.S. crude inventories and the prospect of further action by OPEC and its allies to support the market.

    Brent for December settlement added $0.50 to $61.67 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for December delivery rose by $0.26 to $56.23 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $5.44 to WTI. Gasoil for November gained $8.25.

    Today morning oil indexes turned into slight downward evolution again.

    Although trade talks over the first phase of a partial trade deal between the United States and China are progressing well, the market does not feel an agreement between the two economic powerhouses will have much of a positive impact on demand until the tariffs are lifted. Meantime, the market is currently being supported by the prospect of additional production cuts by OPEC and its allies. However, traders may not know for certain if this will happen until producers meet to review policy on December 5-6.

    Goldman lowered its forecast for U.S. oil production growth to 0.7 million barrels per day (bpd) in 2020, down sharply from its 1 million bpd forecast previously. Goldman attributed the downward revision not just to a slowdown in drilling, but also to “updated longer-term decline rates to be consistent with play-to-date results,” which could be interpreted as shale wells are not performing as well as previously anticipated. In the short run, Goldman predicts oil prices are languishing below $60 per barrel, and little will change.

    The U.S. Energy Information Administration reported a 1.7-million-barrel crude inventory drop last week, versus expectations for a build of 2.2 million barrels. The surprise draw was caused by a significant drop in crude imports. Despite being the world’s largest producer of light crude, the United States still buys significant volumes of heavy grade crude each week from Middle East and other producers.

    A report from Germany reinforced the view of a global slowdown after the IHS Markit flash German manufacturing PMI inched up to 41.9 in October from September’s decade-worst 41.7, which is still a reading that shows the factory segment of the country’s economy in dire straits. Readings below 50 indicate contraction.

    Sweden, the leader in the share of renewable energy use in the European Union (EU), targets to eliminate subsidies for onshore wind farms by the end of 2021, at around the same time as neighboring Norway. Sweden generates more than 54 percent of its electricity from renewable sources on a sustainable basis. As early as in 2012, the Scandinavian country reached its 2020 target to have 50 percent of energy use from renewables. The country is targeting 100 percent renewable electricity generation by 2040. Hydropower and bioenergy are the top sources of renewable energy in Sweden, but wind generation has soared over the past decade and a half.

    Russia’s largest oil company Rosneft has already completed the switch away from the U.S. dollar to euros in its export contracts to minimize risks from potential new U.S. sanctions. Rosneft is the biggest oil exporter from Russia, selling around 2.4 million barrels per day (bpd) of oil. According to Rosneft, the Chinese yuan could become a much more important global currency in the future, because of Chinese economic growth. The share of the U.S. dollar in the global oil and oil products trade is around 90 percent currently,  but in ten years’ time, due to the Chinese economy, the yuan could raise its share from the current 2 to 5 percent.

    We expect bunker prices may rise today slightly in a range of plus 2-7 USD.




2021 April 12

18:05 Kongsberg Digital to provide the Panama Canal Authority with simulators for multi-vessel training scenarios
17:46 Delo Group approved strategy development until 2030
17:25 Strategic Marine launches next generation Strat Cat CTV design for offshore wind market
16:53 S&P and Fitch upgrade Sovcomflot rating to ‘BBB-'
16:15 Indian Register of Shipping undertakes successful sea trials for pioneer batch of vessels in India to use biofuel
15:47 ClassNK certifies “Sunflame Smart Support System” as Innovation Endorsement for Products & Solutions
15:32 SC Ports opens state-of-the-art Hugh K. Leatherman Terminal
15:22 KN to pay EUR 5 million as dividends to shareholders
14:57 PortNews welcomes to its stand at TransRussia 2021 in Moscow
14:35 Recruiting for senior positions in the ports industry: the BPA examines how to avoid the pitfalls and perils!
14:14 New eco-friendly rail shuttle – more Swedish forest products through the Port of Gothenburg
13:36 Russian Maritime Register of Shipping takes part in TransRussia 2021
13:13 ABS awarded notation for one of the world’s largest semi-submersible heavy-lift platforms
12:55 Throughput of Russian seaports in 3M’2021 fell by 4.5% Y-o-Y
12:34 NOVATEK reports preliminary operating data for Q1’2021
12:11 Korean Register launches online EEXI/CII calculation program
12:02 Sibanthracite increased volume of mining output in Q1 by 17%
11:36 Vostochnaya Verf shipyard commences mooring trials of crab catching ship Okhotsk
11:05 MSC launches a new solution connecting Asia and Europe
10:13 Singapore to host SMW 2021, April 19-23
09:59 HAFEET Inauguration marks partnership between Emirates Steel and SAFEEN Group in transshipment services
09:45 AS Tallinna Sadam announces it operational volumes for 2021 Q1
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09:09 Baltic Dry Index as of April 9

2021 April 11

15:32 Hagland orders environmental friendly newbuilds
14:17 Stena Bulk unveils decarbonisation plan to become net zero emissions business by 2050
13:48 Belships fleet expansion and share issue
12:17 USCG Cutter Kimball returns home from expeditionary patrol in the Pacific
11:38 Meyer Weft's new logistics center starts operation
10:56 Norwegian Coastal Administration: Eemslift Hendrika has been towed to safe harbour

2021 April 10

15:14 NAPA joins Finnish Clean Propulsion Technologies consortium to accelerate development of low-carbon solutions in shipping
14:27 The Valencia Containerised Freight Index (VCFI) increased by 17.48% in March
13:52 A.P. Moller-Maersk helps Amica taking to the rails
12:46 TORM announces capital increase in connection with delivery of vessel
11:03 Jan De Nul halfway through installation of 600MW Kriegers Flak Wind Farm
10:09 Strong 2020 cargo volumes show resiliency of the Port of Vancouver and port industries during a challenging year

2021 April 9

18:08 Everfuel signs MOU for hydrogen supply to new zero-emission ship concept
17:45 SASCO’s new ship SASCO ALDAN leaves for first voyage
17:16 CMA CGM announces PSS for reefer cargo from Ukraine, Romania, Russia (Black Sea), Georgia & Bulgaria to Asia, the Middle East Gulf & Red Sea
16:54 DCT Gdańsk achieves 15 million TEU milestone
16:37 30 countries join global initiative to tackle marine litter
16:26 Container terminal in Świnoujście to let using inland navigation as a method of hinterland transport
15:48 Port of Long Beach container volumes up by 62.3% to 840,387 TEU in March 2020
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14:02 SEA-LNG welcomes Puget LNG to coalition
13:49 Port of Liepaja throughput in 3M’2021 declined by 1.3% Y-o-Y
13:14 New ICS Guidance on Maritime Security launched
12:51 Finnish Transport and Communications Agency published Year 2020 at Traficom review
12:14 The US has introduced new safety requirements in the maritime transportation system
11:22 Newly established Northern Dvina River Shipping Company commences operation in Arkhangelsk Region
11:14 GTT receives an order from Hyundai Heavy Industries for the tank design of two new Very Large Ethane Carriers
10:58 Stena Livia joins the Baltic Sea fleet
10:29 Aker Arctic completes full scale ice trials of icebreaking bow Saimaa and tug Calypso
09:55 RF Navy's frigate Admiral Kasatonov passed the Pas-de-Calais
09:33 Oil market sees mixed price movements
09:19 Baltic Dry Index as of April 8
08:20 CMA CGM launches the first low-carbon shipping offer by choosing biomethane

2021 April 8

18:41 The first ship affected by the blockage in the Suez Canal to arrive in Barcelona is operating normally
18:14 Port of Rotterdam reduced its total carbon emissions by 27% in 2016-2020
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