• 2019 November 12 10:23

    MABUX: Bunker market this morning, Nov 12

    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) slightly decreased on Nov.11:

    380 HSFO - USD/MT – 349.19 (-2.39)
    180 HSFO - USD/MT – 390.79 (-2.82)
    MGO - USD/MT – 663.61 (-0.85)


    Meantime, world oil indexes changed irregular on Nov.11 amid renewed doubts over the prospects of a trade deal between the United States and China, while concerns over excess supplies also weighed on the market.

    Brent for January settlement decreased by $0.33 to $62.18 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for December delivery fell by $0.38 to $56.86 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $5.32 to WTI. Gasoil for November delivery gained $7.00.

    Today morning oil indexes do not have any firm trend so far.

    Trump said on Nov.09 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.

    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. Trump also said there had been incorrect reporting about U.S. willingness to lift tariffs as part of a "phase one" agreement, news of which had boosted markets. 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.

    Chinese data during the weekend showed continued weakness in Chinese economic growth. China’s producer price index (PPI) slumped the most in October since July 2016, while car sales fell for the 16th month in a row. Both sets of data suggest that China’s economic growth continues to slow down, which, combined with an overall global economic growth slowdown, doesn’t bode well for oil demand growth, and consequently, oil and fuel prices.

    Germany insists that Britain and France together with Germany must be ready to react to Iran's breaches of its 2015 nuclear deal and this could mean reimposing international sanctions on Tehran, though Europe still wants to save the accord. Iran said last week it had resumed low-grade uranium enrichment at its underground Fordow nuclear plant and at the weekend said it could refine up to 60% of fissile purity, not far off the 90% level needed for nuclear bomb fuel - its most significant breaches of the deal with world powers. So far, the European position is that the International Atomic Energy Agency and its inspectors must first verify Iran's latest announcements on enrichment.

    The statistics published by Baker Hughes last Friday showed that the Oil Rig Count in the USA reached the lowest level over the previous 31 months: the indicator lost 8 units and now equals to 684. The total number of rigs lost 7 units, down to 817 overall. As a result, the actual reading is close to April of 2017. Since the beginning of 2019, the indicator has dropped 23%, but without influencing the total oil extraction as it has added 8% over the same period. The latest numbers showed that the daily oil output in the USA stopped at 12.6 million barrels per day.

    It is expected that the introduction of the 0.50% global sulphur cap will increase the need for additional IMO 2020-compliant fuel and blend component tank storage. ARA and Houston are the largest in terms of tank capacity, followed by Singapore and Fujairah, and all these hubs have demonstrated a similar growth trajectory, albeit starting at different moments in time. Global tank capacity (i.e. all those terminals that rent out capacity to third parties) is currently around 1 billion cubic metres (cbm), with these four bunker hubs together accounting for a market share of just under 10%. Moderate oil price levels as well as price volatility moving upwards were positive indicators for the tank storage business, whereas low stock levels and an oil price forward curve in backwardation could be considered as negative sign.

    Meantime, forecast said that the anticipated switch to pricier 0.50% sulphur fuels from 1 January 2020 will mean that trading conditions for ageing and inefficient tonnage become more challenging. IMO 2020 will add an additional cost on top of typical expanded off-hire periods and greater maintenance and repair expenses. Scrapping activity will likely stay at minimal levels over the next few months on the expectation that IMO 2020 disruptions and seasonal strength in refining runs — plus geopolitical uncertainty and weather-related delays — could support tanker earnings during winter. However, this situation could change in the transition to Q2 2020.

    We expect bunker price changes may be insignificant and irregular today in a range of plus-minus 3-5 USD.




2020 December 5

15:29 Metal Shark completes 8-year run of production development for NYC Ferry services
14:34 GLDD advances US offshore wind energy industry with decision to design first Jones Act compliant, purpose-built vessel for subsea rock installation
13:04 Greenbrier Marine and Overseas Shipholding Group announce delivery of OSG 205
11:49 USCG suspends search for person in the water near Sabine Pass
10:57 Torqeedo powers Thailand's first electric passenger ferry fleet

2020 December 4

20:37 Jan De Nul starts construction of its 5,000 tonnes crane vessel Les Alizés
18:36 RORO carrier continues liner services after fast steel repairs at Niestern Sander
18:20 Sea Port of Saint-Petersburg launches unified platform for data exchange with Russian Railways
18:06 Ørsted completes the construction of the largest in the Netherlands offshore wind farm
17:46 BIMCO: EU ship recycling regime improved but gaps remain
17:26 Hapag-Lloyd announces PSS from Far East to North Europe and Mediterranean
17:04 Zvezda Shipyard lays down shuttle tanker of ARC6 class
16:52 Lloyd's Register to acquire C-MAP Commercial from Navico Group
16:35 WDP builds multimodal mega-distribution centre in North Sea Port
16:05 Volkswagen powers car freighters with used oil from restaurants
15:24 Marvesa and Koole Terminals sign an agreement to build and use a new tank storage terminal in the Port of Rotterdam
15:09 Cargo traffic within Azov-Don Basin of Russia’s IWWs grew by 7.6% in 2020
14:11 CMA CGM announces FAK rates from North Europe to Kenya and Tanzania
13:45 Nefteflot lays down third cruise ship of Project PV20S
13:13 The Finnish Financial Supervisory Authority approves the merger prospectus concerning the combination of Cargotec nd Konecranes
12:24 Kapitan Metsayk icebreaker arrives at Azov seaport
12:01 Austal Australia launches first of two cape class patrol boats for Trinidad and Tobago Coast Guard
11:40 Klaipėdos Nafta joins Lithuanian hydrogen platform
11:19 Bunker prices started decreasing at the Port of Saint-Petersburg, Russia (graph)
11:18 Odfjell SE agrees to acquire Lindsay Goldberg’s stake in Korea terminal
11:09 CMA CGM announces THC for import / export Finland, Sweden, Spain, Italy, Belfast (UK)
10:55 MABUX: Bunker market this morning, Dec.04
10:49 Port of Long Beach prioritizes dual transactions
10:37 NSR cargo traffic grew by 4.2% in 11M’2020
10:00 Online discussion of China’s inland shipping experience to continue on December 9 at joint PortNews/MEB webinar
09:26 Oil prices rise following OPEC+ meeting
09:14 Baltic Dry Index as of December 3

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