• 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 January 16

15:39 New ship Silver Dawn floats out in Ancona.
14:31 Signing of MoU in relation to 2 units of 250 feet crane barges
13:28 CMA CGM to apply FAK rates for North Europe to Gulf and Red Sea trade
12:49 DuPont Clean Technologies to develop scrubbing project with BELCO® technology to control the emissions of Empresa Nacional de Petróleo (ENAP)
10:35 Hapag-Lloyd announces blank sailings on Europe - Asia trade
09:11 Golar LNG and Stonepeak Infrastructure Partners to sell 100% of Hygo Energy Transition Ltd. to New Fortress Energy

2021 January 15

18:15 Organic fertilizers and biogas from biowaste in the Helsinki region – commercial use of the Lohja biogas plant started up
18:04 New Speakers and Sponsors announced for Unmanned Maritime Systems Technology virtual conference
17:51 High reliability of Limburg Express requires expansion
17:41 Gulf of Guinea records highest ever number of crew kidnapped in 2020, according to IMB’s annual piracy report
17:38 Diana Shipping announces increase in tender offer price for its shares of common stock and extension of expiration date
17:29 OCEAN Alliance Day 5 Product signing ceremony
17:08 i4 Insight partner with FNT to integrate Condition Monitoring service
17:06 Throughput of Rostov-on-Don port in 2020 grew by 13% Y-o-Y
17:03 The effects of the coronavirus epidemic prevention regulations on Finnlines passenger traffic
16:42 Launching of Viking Glory slated for Jan 26
16:28 Carisbrooke Shipping and SMT Shipping partner with Nautilus Labs for collaboration to optimize fleet performance
16:01 Tallink Grupp appoints new Managing Director for Swedish subsidiary Tallink Silja AB
15:17 USCG cutter Joseph Gerczak to increase maritime presence in Pacific
14:47 First steel cut for new Carnival Celebration, next Excel-class ship set to debut from PortMiami in 2022
14:22 Zvezda Shipyard starts cutting steel for third MR product carrier
13:57 Bunkering of a new-generation LNG-powered container ships begins in Rotterdam
13:26 Holland America Line opens bookings for Europe 2022 cruises - four ships span the region on itineraries ranging from 7 to 21 days
13:08 SCF takes delivery of new LNG carrier to expand long-standing partnership with Shell
12:49 Anatoly Meshcheryakov appointed as Director of Transport Department
12:34 BW Offshore: Incident on FPSO Espoir Ivoirien
11:21 Sakura Kuma named as new managing director of APM Terminals Japan
10:56 Turnover of DeloPorts terminals grew by 36% in 2020
10:32 MABUX: Bunker market this morning, Jan 15, 2021
10:04 Jinling hands over Grimaldi Group’s second GG5G Class hybrid ro-ro
09:57 Biggest Dutch project for CO2 reduction, Porthos, is on schedule
09:55 Bunker prices show no significant changes at the Port of Saint-Petersburg, Russia (graph)
09:34 Crude oil prices continue decreasing in expectation of COVID-19 related lockdowns to affect the demand
09:19 Baltic Dry Index as of January 14

2021 January 14

18:25 Throughput of Russian seaports in 2020 fell by 2.3% Y-o-Y
18:03 Torvald Klaveness First Steamship joins Baumarine by MaruKlav
17:48 Exports of Transneft oil via seaports fell by 21.3%
17:31 Wärtsilä SmartMove Suite sets sail with the American Steamship Company
16:47 Marine Administration of the Russian Federation extends validity of seafarers’ documents
16:23 CMA CGM announces Empty Equipment Imbalance Surcharge for cargo from North Europe, United Kingdom, Baltic States, Scandinavia & Russia to Nigeria
16:18 Bunker Outlook, Jan 14, 2020
16:03 Contecon Manzanillo caps off 2020 with 1M TEU milestone
15:55 Enhanced requirements for shore-based personnel boarding vessels in the Port of Singapore
15:41 Dredging fleet of Rosmorport’s Astrakhan branch expanded with dredging convoy
15:23 Equinor selected for largest-ever US offshore wind award
15:03 Konecranes makes first UK installation of S-series crane
14:44 Bunker prices increased in the Far East ports of Russia (graph)
14:22 Abu Dhabi Ports to provide container transportation services between Musaffah-based facility and Khalifa Port
14:03 North Sea Port feels reports 63.5 million tons of cargo transhipment from maritime shipping in 2020
13:40 Port of Riga saw cargo structure changes in 2020
13:23 Kalmar’s straddle carrier technology to enhance operational capabilities at Iles de la Réunion
13:21 Port Houston annual container volumes near record in December 2020
12:48 Throughput of Sovetskaya Gavan port surged by 83% in 2020
12:04 Portuguese and Greek Prime Ministers visit European Maritime Safety Agency
11:59 Port of Oakland loaded imports up 11 percent in Dec. 2020
10:47 Year 2020 ended with 6.6 million tons of various cargo handled by Port of Liepaya
10:20 MABUX: Bunker market this morning, Jan 14, 2021
10:19 PGNiG received its fourth LNG delivery in Klaipėda
10:12 Neptune Energy awards $6.5M contracts for Cygnus gas facility
09:53 Hydrogen Council reaches 100+ members