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  • MABUX: Bunker Market this morning, Nov 05
  • 2019 November 5 09:50

    MABUX: Bunker Market this morning, Nov 05

    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) increased on Nov.04

    380 HSFO - USD/MT 365.57 (+6.75)
    180 HSFO - USD/MT 406.20 (+6.60)
    MGO - USD/MT 667.73 (+5.25)


    Meantime, world oil indexes also demonstrated upward evolution on Nov.4 on optimism at the prospect of a U.S. - China trade deal and hopes for deeper output cuts by OPEC and its allies next month.

    Brent for January settlement increased by $0.44 to $62.13 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for December delivery rose by $0.34 to $56.54 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $5.59 to WTI. Gasoil for November delivery increased by $16.00.

    Today indexes are stable as market awaits this week’s crude stockpile data.

    Weekly US crude inventory data due for release today and tomorrow is expected to show a further 2.7 million-barrel build for the week ending October 25.

    Hopes for a trade deal revived after Washington and Beijing said late last week that they had made progress towards resolving their protracted trade war, with U.S. officials indicating that a partial deal could be signed this month. Adding to the optimism, Commerce Secretary Wilbur Ross said on Nov.3 licenses for U.S. companies to sell components to China's Huawei would come "very shortly".

    China's President Xi Jinping and U.S. President Donald Trump have been in touch all along on the trade negotiations between the two sides, Chinese Foreign Ministry spokesman Geng Shuang said in remarks at a news briefing in Beijing on Monday. At the same time, Chinese government officials are considering locations in the U.S. where leader Xi Jinping would meet U.S. President Donald Trump to sign the deal

    Meanwhile production cuts by OPEC+ - 1.2 million barrels per day are also underpinning prices. Iran oil minister Bijan Zanganeh said that OPEC could further slash production from the current 1.2 million barrel per day at its next meeting on December 5.

    At the same time, Russia lowered its oil output to 11.23 million barrels per day (bpd) last month from 11.25 million bpd in September, missing again its obligations under a global pact to curb production. According to calculations, the pact indicates Russia should cap output at around 11.17-11.18 million bpd. Russian oil pipeline exports in October rose to 4.88 million bpd from 4.623 million bpd in September.

    Moreover, OPEC's output recovered in October from an eight-year low after a rapid rebound in Saudi Arabia's production from attacks on its oil infrastructure in September, offsetting losses in Ecuador and voluntary cuts under the pact.

    Bunker prices are expected to demonstrate upward changes today: 1-3 USD up for IFO, 10-15 USD up for MGO.




2021 October 27

18:22 IMC Shipping appoints Mingfa Liu as managing director for ship services
18:07 TotalEnergies and MOL hold naming ceremony of France’s first LNG bunker vessel
17:51 Damen built LNG bunkering vessel enters service in the Gulf of Finland
17:42 Rosmorport takes delivery of LNG-powered Ro-Ro ship Marshal Rokossovsky
17:40 DEME Offshore installs final foundation at Hornsea Two offshore wind farm
17:34 Port of Zeebrugge posts a strong growth in nine months of 2021
15:40 Dublin Port volumes down by 3.3% after nine months of 2021
14:33 IMO considers midterm-measures for GHG reduction from ships
14:12 BIO-UV Group adds 3d scanning to turnkey BIO-SEA BWTS retrofit services
13:50 Ocean Yield agrees to invest in six VLCCs with 10-year bareboat charters to International Seaways
13:02 WinGD invests in training as gas-fuelled fleet grows
12:52 Vyborg Shipyard contracted to build an 18 MW icebreaker for Rosmorport
12:38 Zero emissions by 2050 is not enough for most developed countries if planetary warming is to be limited to 1.5 degrees - DNV
12:37 The LNG Fleet, LNG Bunkering and Other Alternatives Conference kicks off in Moscow
12:06 FESCO to supply Indian stations in Antarctica for another 5 years
11:51 Constructora Vale Verde places a repeat order for a cutter suction dredger with Damen Shipyards
11:19 MarineMax reports record fourth quarter and fiscal year results
11:18 FSRU Marshal Vasilevskiy completes maiden voyage with LNG cargo on the Northern Sea Route
10:09 Siemens Gamesa solidifies offshore presence in U.S. with Virginia blade facility
09:55 MABUX: No firm trend on Bunker market on Oct 27
09:33 Baltic Dry Index as of Oct 26
09:25 Aquadrill announces sale of a semisubmersible drilling unit
08:57 Oil prices edge lower

2021 October 26

18:06 FarSounder and NAVTOR announce a new partnership
17:49 Russian State Duma approves a bill on wrecks removal in the first reading
17:36 FuelEU can do more for the decarbonisation of shipping – World Shipping Council
17:08 First global hydrographic innovation and technology laboratory established in Singapore
16:31 BIO-UV Group adds 3D scanning to turnkey BIO-SEA BWTS retrofit services
16:24 Wärtsilä commits to carbon neutrality by 2030
16:05 CSL Americas takes delivery of second converted self-unloading ship
15:27 Damen Maaskant Shipyards Stellendam delivers 38-metre Beam Trawler to Rederij Long Ships
15:17 Vard Electro dual-battery pack to reduce emissions for Siem Offshore subsea vessel
15:01 Baltic Shipyard marks successful loading of shield tank duo onto the 22220 nuclear icebreaker Yakutia
14:13 BW Energy signs an agreement for the acquisition of semi-submersible drilling rig for the Kudu development
13:19 Wallem Group appoints John-Kaare Aune as new Chief Executive Officer
12:13 DP World: RWG terminal to be the first carbon neutral container terminal in the world
11:32 ClassNK grants Innovation Endorsement for Products & Solutions to Weathernews’s CIM
11:02 AIDA Cruises’ new cruise ship completes its first voyage on the river Ems
10:51 Sea Machines names Trevor Vieweg as new chief technology officer
10:14 TECO 2030 receives NOK 50 million in government support for fuel cell development
10:07 MABUX: Bunker prices may demonstrate irregular changes on Oct 26
09:54 Baltic Dry Index as of Oct 25
09:51 San Pedro Bay ports announce new measure to clear cargo
09:09 Oil prices continue to climb

2021 October 25

19:59 Severnaya Verf readies the 170701 series factory freezer trawler Kapitan Sokolov for shore power connection
18:13 CMA CGM applies Winter Surcharge in the Russian ports of St Petersburg, Bronka and Ust-Luga
17:44 Estonia’s Elenger takes delivery of first Damen LGC 6000 LNG bunkering vessel
17:34 Carnival Cruise Line christens Mardi Gras in first naming ceremony in the U.S. since industry restart
16:57 Sembcorp Marine clarifies report on the Johan Castberg Project
16:47 Two ways to experience the Fort Lauderdale Int'l Boat Show
15:23 Trafigura Group closes USD2.4 billion-equivalent syndicated revolving credit facility and term loan facilities
14:22 Sea Port of Saint Petersburg’s employees support package during COVID-19 pandemic
14:02 Svanehøj launches a new control system makes P&C offloading faster and easier
13:20 PIL launches new direct China to Gulf Service – Gulf China Service
12:15 Port of Hamburg honoured as ‘Best Seaport – Europe’
11:35 LR granted AiP to Samsung Heavy Industries for liquefied hydrogen carrier
11:12 Rosmorport updates Port of Ust-Luga data in the Register of Russia’s seaports
10:17 MABUX: Bunker prices may demonstrate upward changes on Oct 25
09:38 Russian Gov’t gives green light to imposing some port services tariffs in foreign currency
09:21 Baltic Dry Index as of Oct 22