• 2019 November 8 09:28

    MABUX: Bunker market this morning, Nov 08

    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) changed insignificant and irregular on Nov.07:

    380 HSFO - USD/MT - 355.24 (-7.97)
    180 HSFO - USD/MT – 395.83 (-7.02)
    MGO - USD/MT – 667.85 (-3.44)


    Meantime, world oil indexes demonstrated irregular changes on Nov.07 after China hinted at progress toward a trade deal with the United States, raising hopes for an end to a long dispute that has weighed on economic growth and demand for fuel.

    Brent for January settlement increased by $0.55 to $62.29 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for December delivery rose by $0.80 to $57.15 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $5.14 to WTI. Gasoil for November delivery lost $3.50.

    Today morning oil indexes have turned into slight downward evolution.

    China said on Nov.07 that it had agreed with the United States for both sides to remove tariffs in phases, without specifying a timetable. A deal may be signed this month by U.S. President Donald Trump and Chinese President Xi Jinping at a yet-to-be determined location. The trade dispute has prompted the market to lower forecasts for oil demand and raised concerns that a supply glut could develop in 2020.

    Iran has stepped up activity at its underground Fordow nuclear plant: a move France said showed for the first time that Tehran explicitly planned to quit a deal with world powers that curbed its disputed nuclear work. In another development that could also aggravate tensions between Iran and the West, Iran briefly held an inspector for the U.N. nuclear watchdog and seized her travel documents. Iran said the inspector was prevented from entering the Natanz facility because of a concern she might be carrying "suspicious material". Besides, Iran's decision to inject uranium gas into centrifuges at Fordow, a move that further distances Iran from the accord, was described by Moscow as extremely alarming.

    Iraqi security forces shot dead at least four protesters in central Baghdad on Nov.07. Mass demonstrations continued for a 13th straight day with thousands thronging central areas of the capital. The country is beginning to feel the fiscal pinch of weeks of the unrest, which started in Baghdad and quickly spread to southern cities. It was reported that oil production and exports have not been significantly affected by the unrest. But the halting of fuel tankers that transport fuel from the Nassiriya refinery to regional gas stations caused fuel shortages across the southern Iraqi province of Dhi Qar. The refinery had recently been producing around half its capacity. The further escalation may set up momentum upward driver for fuel indexes.

    Venezuela’s state-held oil firm PDVSA has cut its outstanding debt to the largest Russian oil producer, Rosneft, to below US$1 billion. Rosneft has extended 6 billion USD of loans to PDVSA, which needs to be fully redeemed through crude oil supplies by the end of this year. Debt as at September 30, 2019, had dropped to 800 million USD, down from US$1.1 billion as at the end of the second quarter this year. As per U.S., Russia’s Rosneft is “really central to the regime’s survival,” because it buys the oil Venezuela produces and helps it to sell the oil and arrange the financing. The U.S. Administration is thinking about slapping sanctions on Rosneft, but it hasn’t done it yet, as it is looking at a broader context in its relations with Russia.

    Brazil may be able to produce in the future as much as 7 million barrels of oil per day (bpd). The South American oil producer, which currently pumps 3 million bpd of crude oil, could further consolidate its global position as an exporter of commodities. Production in Brazil is rapidly growing thanks to start-ups of new offshore oil fields. Total liquids production increased by 480,000 bpd year on year to 3.10 million bpd in August—a record high. The OPEC estimates that Brazil will be the second-largest contributor to non-OPEC supply growth this year and next, after the United States. Brazil, like the United States, is not part of the OPEC+ coalition that currently restricts production hoping to draw down global oversupply.

    We expect bunker prices may demonstrate irregular changes today in a range of plus-minus 3-5 USD.




2021 April 14

10:20 Korean Register and DSME complete world’s first ship to ship LNG bunkering for gas trial
10:20 Throughput of Port St. Petersburg declined by 2% in 3M’2021
09:49 Zvezda shipyard commences construction of third ARC 7 LNG carrier
09:25 Oil prices rise on decrease of US reserves
09:08 Baltic Dry Index as of April 13
08:01 Navigator Holdings and Ultragas to merge fleets & businesses entity

2021 April 13

18:30 Monjasa reveals record high volumes in a year of great contrasts
18:07 Largest non-containerised cargo operation in the world at APM Terminals Pecém
17:52 USC prepares chemical tanker PortNews for delivery to Volgotrans
17:33 Wan Hai Lines to launch independent CI8 Express Service
16:34 IMO establishes new module on GISIS
15:34 A.P. Moller - Maersk to hasten the pace of its AE19 service from Asia to Europe
15:16 Throughput of port Kavkaz in 3M’2021 rose by 4% Y-o-Y
14:33 VERWATER SJR expands at RDM Rotterdam
14:00 Delo Group and Rosatom transferring port terminals in Novorossiysk to use green wind energy
13:41 Delo Group proposed to include containerization in draft Strategy for Social and Economic Development of Russia until 2030
13:38 The Port of València reduces its carbon footprint by 30%
12:17 Optimarin surfs retrofit wave with orders for over 100 units so far in 2021
12:12 Rhenus takes a majority holding in Arkon Shipping & Projects
11:43 Leading stakeholders presenting at Capital Link’s Decarbonization in Shipping Forum
11:10 CMA CGM announces PSS for cargo from North Europe & the Mediterranean to Australia & New Zealand
10:34 Throughput of Russian seaports in 3M’2021 fell by 4.5% (detalization)
09:47 Throughput of port Riga (Latvia) in 3M’2021 dropped by 15.3%
09:29 Oil prices continue rising
09:11 Baltic Dry Index as of April 12

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
09:23 Oil prices are slightly up
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