• 2019 November 11 09:47

    MABUX: Bunker market this morning, Nov 11

    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) declined on Nov 08:

    380 HSFO - USD/MT - 351.58 (-4.98)
    180 HSFO - USD/MT – 393.61 (-4.76)
    MGO - USD/MT – 664.46 (-3.17)


    Meantime, world oil indexes continued irregular changes on Nov.08 following comments from U.S. President Donald Trump that he has not agreed to roll back tariffs on China

    Brent for January settlement increased by $0.22 to $62.51 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for December delivery rose by $0.09 to $57.24 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $5.27 to WTI. Gasoil for November delivery lost $6.75.

    Today morning oil indexes demonstrate slight downward evolution.

    The 16-month trade war between the world’s two biggest economies has slowed economic growth around the world and prompted analysts to lower forecasts for oil demand, raising concerns that a supply glut could develop in 2020.

    Donald Trump told reporters he has not agreed to roll back tariffs on China but that Beijing would like him to do so. The comments came after officials from both countries said China and the United States have agreed to roll back tariffs on each others’ goods in a “phase one” trade deal if it is completed. However, the plan faces stiff internal opposition in the U.S. administration, and U.S. officials have signaled opposing views on the status of talks.

    Moreover, Trump said on Saturday that trade talks with China were moving along "very nicely," but the United States would only make a deal with Beijing if it was the right one for America.
    Underlining the impact of the trade war, data over the weekend showed that China's producer prices fell the most in more than three years in October, as the manufacturing sector weakened, hit by the dispute and declining demand.

    Oil prices have also been under pressure since OPEC Secretary-General Mohammad Barkindo said that he was more optimistic about the outlook for 2020, appearing to downplay any need to cut output more deeply. A deal between the Organization of the Petroleum Exporting Countries and its allies, such as Russia, will limit supplies until March next year. The producers meet Dec. 5-6 in Vienna to review that policy.

    At the same time, it is forecasted, that even if a partial agreement between U.S. and China is reached, the impetus for demand will not be enough to avoid an oversupply next year, meaning that OPEC will still need to make bigger production cuts. From the other side, OPEC and its partners will probably keep output steady when they meet next month as markets are on track to re-balance

    OPEC’s crude oil production jumped by 1.26 million barrels per day from a decade-low in September to 29.71 million bpd in October, as Saudi Arabia restored its production to levels before the attacks on its oil facilities in mid-September Accoerding to Platts and REUTERS. Saudi Arabia’s oil production jumped by 1.35 million bpd to 9.8 million bpd in October, as it appears to have fully recovered output after the September 14 attacks on vital oil infrastructure that took 5.7 million bpd—or 5 percent of global daily supply—offline. Despite the production recovery, the Saudis continue to overcomply with the OPEC+ deal by more than 500,000 bpd. OPEC’s official production figures for October are due out in its monthly report on November 14.
    At the same time, U.S. energy firms this week reduced the number of oil rigs operating for a third week in a row. Drillers cut 7 rigs in the week to Nov. 8, bringing the total count down to 684, the lowest since April 2017.

    According to the new rules by the International Maritime Organization (IMO), only 0.5-percent or lower sulfur fuel oil should be used on ships beginning January 1, 2020, unless said ships have installed the so-called scrubbers—systems that remove sulfur from exhaust gas emitted by bunkers—so they can continue to use high-sulfur fuel oil (HSFO). However, supply of compliant low-sulfur fuel could be just as sufficient, while demand may be subdued, due to the global economic and trade growth slowdown and at least some non-compliance from shippers, which analysts at Wood Mackenzie put at around 10 percent for 2020.Russia is one of the countries set to delay the IMO rules implementation, but only in its territorial waters including rivers, Energy Minister Alexander Novak said, responding to questions sent by Bloomberg. Russia will still comply with the rules in international waters. Due to its predominantly high-sulfur oil, Russia is set to be one of the biggest losers in the new marine fuel rules.

    We expect bunker prices may demonstrate irregular changes today:1-3 USD up for IFO, 4-6 USD down for MGO.




2020 December 3

18:31 ABS, Hyundai Heavy Industries Group and the Marshall Islands Registry JDP creates coating needing just one application
18:11 Lotos shipyard lays down two more dredgers of Project 93.159
18:03 Torqeedo powers Thailands first electric passenger ferry fleet
17:28 Krasnoye Sormovo shipyard delivers dry cargo carrier Alfa Mercury
17:06 Wärtsilä signs 5-year agreement with LMM for the main engines for two VLGCs
17:02 Bunker Weekly Outlook, Dec 03, 2020
16:50 The 1st Hackathon dedicated to innovation in the port sector in Morocco launches from December 18 to January 29
16:37 Timber and forestry products account for 24% of Riga port’s total turnover
16:05 Cargotec’s Board of Directors has decided to initiate a sales process for Navis software business
15:59 Rosatom to establish Marine Operations Headquarters for NSR
15:34 Port of Antwerp tightens regulations regarding byloads inside second-hand vehicles
15:22 Operation of unmanned navigation test basin on Neva river to continue next season
15:04 Maersk Tankers adds four Xihe-owned tankers to its pools
14:24 Equinor and SINTEF enter into a strategic collaboration agreement
14:02 Investment reaps rewards for Pilbara’s ports
13:40 Bunker market sees mixed price movements in the Far East ports of Russia (graph)
13:02 Trafigura becomes a major investor in green hydrogen with H2 Energy
12:34 RF Government drafted decree on providing state support to construction of large-capacity ships
12:01 Busiest month for Port of King’s Lynn in five years
11:55 The study by HTC identifies almost 30 measures that can lead to a reduction in CO2 emissions in the Port of Hamburg
11:29 AS Tallink Grupp published its tatistics for November 2020
11:00 BW LPG enters into agreements to sell two vessels
10:35 Ships of RF Navy's Pacific Fleet completed their visit to Sri Lanka
10:10 Rosmorport takes delivery of self-propelled hopper barge Morskaya
10:02 Soren Toft arrives at MSC as Chief Executive Officer
09:48 MABUX: Bunker market this morning, Dec.03
09:29 Oil prices are slightly down
09:16 Baltic Dry Index as of December 2

2020 December 2

18:37 Rolls-Royce acquires leading supplier of ship control systems Servowatch
18:05 Aker and MAN sign agreement to develop energy-efficient compression solutions for carbon capture and storage applications with heat recovery
17:53 Cargo traffic within Azov-Don Basin of Russia’s IWWs grew by 7% in 11M’20
17:20 Fincantieri finalizes new generation of thrusters
17:15 Hapag-Lloyd announces rates from East Asia (incl. Japan) to North Europe and Mediterranean
16:56 ESPO welcomes European Parliament’s own-initiative report on revision of TEN-T guidelines
16:35 ECSA applauds UN resolution on seafarers as key workers and supports IMO call for priority vaccination
16:20 RF Navy’s corvette "Boyky" passes the Baltic straits
16:04 Floating wind power to grow 2000-fold by 2050 but more comprehensive standards and risk management required - DNV GL
15:39 FESCO и DB Сargo send first container train from Europe to China through Brest and Vladivostok
15:27 Port of Helsinki to multiply the amount of solar energy it generates
15:14 Wärtsilä selects Shell as test oil partner for factory testing
14:53 ABS publishes industry-leading Guide for Sustainability
14:50 Two Vityaz cranes manufactured by SMM delivered to Commercial Port of Vladivostok by NSR
14:26 SG-STAR Fund taskforce develops CrewSafe audit programme and attracts more global partners
14:02 Bunker sales at Vladivostok port in 11M’2020 fell by 44% YoY
13:40 Dredging in the Gulf of Ob completed
13:25 Repair barge of RF Navy’s Baltic Fleet left Mediterranean Sea
13:10 ICS welcomes UN resolution on key worker status for seafarers
12:49 Finnlines announces bunker surcharge for Malmö-Travemünde-Malmö
12:31 Rosmorport released about 2.5 million of juvenile fish in October and November
12:10 GTT entrusted by DSME with the tank design of six ARC7 ice-breaking LNG carriers
11:48 Navigation season finished in Pevek port
11:24 Construction of terminal for exports of oil products from Temruk port obtains state expert approval
11:05 Austal completes acquisition of BSE Maritime Solutions
10:56 Bunker prices rise at the Port of Saint-Petersburg, Russia (graph)
10:37 PETRONAS to deploy low carbon solutuions in line with its Net Zero Carbon Emissions 2050 aspiration
10:24 Tallink suspends operation of Victoria I on two routes from 1 January 2021
10:00 Russian Maritime Register of Shipping issues Guidelines on Cyber Safety
09:42 Oil prices decrease in response to US reserves data
09:25 MABUX: Bunker market this morning, Dec. 2
09:13 Baltic Dry Index as of December 1