• 2019 November 14 10:16

    MABUX: Bunker market this morning, Nov 14

    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.13:

    380 HSFO - USD/MT – 342.15 (-2.93)
    180 HSFO - USD/MT – 386.39 (-1.00)
    MGO - USD/MT – 661.33 (-1.57)


    Meantime, world oil indexes turned into moderate upward movement on Nov.13 after OPEC said it saw no signs of global recession and rival U.S. shale oil production could grow by much less than expected in 2020.

    Brent for January settlement increased by $0.31 to $62.37 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for December delivery rose by $0.32 to $57.12 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $5.25 to WTI. Gasoil for November delivery gained $0.25.

    Today morning oil indexes continue slight upward trend.

    The Secretary General of the Organization of the Petroleum Exporting Countries, Mohammad Barkindo, said global economic fundamentals remained strong and that he was still confident the United States and China would reach a trade deal. He also said some U.S. companies were now saying U.S. oil production would grow by just 0.3-0.4 million barrels per day next year - or less than half of previous expectations - reducing the risk of an oil glut next year.

    U.S. President Donald Trump said on Nov.13 that the U.S. and China were close to finalizing a trade deal, but he fell short of providing a date or venue for the signing ceremony.

    As per the IEA report, until about 2025 global oil demand will expand by about 1 percent annually, exceeding 100 million bpd and reaching 105.4 million bpd. After that growth will shrink substantially and demand will reach a plateau at less than 110 million bpd—106.4 million bpd. Also, according to IEA, natural depletion will shrink oil supply and lead to an increase in prices. These, the agency said, could average $90 a barrel in 2030 and $103 a barrel in 2040. Agency also said that even as production growth in the United States slows from breakneck pace of recent years, the world's top oil producer will still account for 85% of the increase in global oil production to 2030, and for 30% of the increase in gas. The higher U.S. output pushes down the share of OPEC members and Russia in total oil production, which is expected to fall to 47% in 2030 from 55% in the mid-2000s.

    France, Germany, Britain, Russia, China, Iran as well as the US discussed a new framework at the UN General Assembly in late September. The proposed new deal would have Iran permanently abjuring nuclear weapons, conforming to a long-term framework of peaceful nuclear technology, and contributing to regional stability and noninterference in return for the US lifting sanctions. Restricting the Islamic Republic’s ballistic missiles was set aside for future discussion. There is no any visible reaction from Iran so far.  

    In the United States, crude oil inventories were forecast to have risen for a third straight week last week, while refined products inventories likely declined. The forecast expects that crude inventories rose by around 1.6 million barrels in the week to Nov. 8.

    The Power of Siberia gas pipeline that will bring Russian natural gas to China, and will start operations in December. The Power of Siberia, one of the largest natural gas pipeline projects in the world, will transport natural gas from the Irkutsk and Yakutia production centers to consumers in Russia’s Far East and to China. Gazprom is dominating gas supplies to many European markets, while it also vies to meet rising Chinese natural gas demand as the country is in the middle of a massive switch from coal-fired to gas-fired heating in millions of homes. Gazprom expects its market share in China to grow from zero to more than 25 percent of Chinese gas imports and to account for 13 percent of China’s gas consumption by 2035. By that year, Gazprom vies to be the number one gas supplier to both Europe and China.

    The American Petroleum Institute (API) has estimated a crude oil inventory draw of 500,000 barrels for the week ending November 7, compared to analyst expectations of a 1.649-million-barrel build. Last week saw a build in crude oil inventories of 4.26 million barrels, according to API data. The EIA’s estimates, however, reported a build of 7.9-million barrels for that week. US crude oil production as estimated by the Energy Information Administration showed that production for the week ending November 1 stayed at the all-time high of 12.6 million bpd for the fifth week in a row.

    We expect bunker prices may rise today in a range of plus 1-4 USD.




2021 May 18

18:37 Castor Maritime announces new vessel acquisitions and the delivery of the M/V Magic Vela
18:10 Throughput of port Vyborg in 4M’2021 rose by 476% Y-o-Y
17:48 North Huajin сontracts Dupont Clean Technologies for IsoTherming® Hydroprocessing Technology
17:34 The Grimaldi Group starts ro-ro feeder link between Antwerp and Cork
17:27 Rosmorport announces competition for construction of 18MW diesel-electric ship of Icebreaker7 class
17:05 Eco Marine Power and F-WAVE to develop ship integrated photovoltaic solutions
16:44 Ships of RF Navy's Caspian Flotilla arrived in the area adjacent to Kazakh port of Aktau to participate in a joint naval exercise
16:25 Ardmore Shipping chooses Lean Marine’s FuelOpt™ to enhance fleet efficiency
16:05 GTT will design the cryogenic fuel tanks for twelve new liquefied natural gas fuelled container vessels
15:48 Tanger Alliance at the TC3 terminal in Tanger Med operating at full capacity with eight new Liebherr ship to shore container cranes
15:23 Throughput of port Primorsk in 4M’2021 fell by 23% Y-o-Y
14:59 Ambal ferry returns to Ust-Luga – Baltiysk line
14:30 99 maritime companies, organisations and flag states sign the Gulf of Guinea Declaration on Suppression of Piracy
13:52 Throughput of port Vysotsk in 4M’2021 fell by 5% Y-o-Y
13:24 ABS publishes guidance on the use of biofuels in shipping
13:11 MOL to re-enter ammonia transport business
12:35 Port of Ust-Luga throughput in 4M’2021 fell by 5% Y-o-Y
12:11 Bureau Veritas opens shipbuilding laboratory in South Australia
11:33 Gazprom Neft delivers net profit of more than ₽84 billion in Q1 2021
11:00 Flex LNG enter into time charter party agreement for Flex Constellation
10:34 Throughput of Port St. Petersburg climbed by 1% in 4M’2021
10:09 Seaplace receives LR Approval in Principle for ballast control system
09:50 Throughput of Rostov-on-Don port in 4M’2021 fell by 16%, year-on-year
09:28 Oil prices start rising
09:12 Baltic Dry Index as of May 17
08:39 MOL joins joint development study on ammonia fuel supply chain in Singapore

2021 May 17

18:43 Port of Houston container volumes up 25% in April 2021
18:29 CMA CGM announces PSS for cargo from/to North Europe to/from the Mediterranean & Black Sea
18:03 Lukoil’s hydrocarbon production in 1Q’2021 was 7.6% lower year-on-year
17:41 Port of Tallinn fortified environmental measures in operating areas
17:16 NCSP Group’s cargo turnover in Q1 2021 fell by 19%
16:52 Average spot market price for Russian M100 product fell to RUB 22,851 pmt
16:28 Okskaya Sudoverf wins competition for construction of multifunctional tugboat of 2.5-3 MW
16:05 Stena RoRo's E-Flexer Côte d'Opale delivered to DFDS
15:53 Novatek set to start year round navigation on the Northern Sea Route in 2023-2024
15:34 Metrans doubles number of container trains on the New Silk Road
14:09 Russia approves its Arctic Council Chairmanship program for 2021–2023
13:35 Shipping industry launch the Gulf of Guinea Declaration on Suppression of Piracy
13:11 The Port of València moves 479,171 containers in April and sets monthly and year-on-year records
12:22 Containership ‘HMM NURI’ makes first call in Hamburg
11:00 Seaboard Energy has chosen Topsoe’s HydroFlex™ technology to produce renewable diesel
10:50 Haldor Topsoe to discuss innovation to combat climate change at high-level meeting with US Secretary of State and Danish Minister for Foreign Affairs
10:11 Oil prices fluctuate amid uncertainty caused by coronavirus
09:40 Port of Helsinki throughput in January-April 2021 rose by 4.5% YoY
09:19 Baltic Dry Index as of May 14

2021 May 16

16:23 Port NOLA issues RFP for Louisiana International Terminal preliminary design contractor
15:18 Port Houston TEUs jump 25% in April
14:18 Investigation of the fires at Tjeldbergodden and Hammerfest now concluded, Equinor says
13:42 Unified Command responds to container ship off coast of Monterey
12:38 Eneti places order with DEME for one next-generation offshore wind turbine installation vessel
11:07 Boskalis AGM of shareholders adopts resolutions
10:31 Port of San Diego inks two more leases, reaches 90% occupancy for Seaport Village

2021 May 15

16:53 Terry Federer joins All American Marine as business development manager
15:09 Sites in the Geeste lowlands safeguard port development
14:38 ABB and Millennium Technology Prize celebrate innovation for a sustainable future
14:21 Hopeful outlook for activity at Lerwick Harbour - Lerwik Port Authority
13:19 USCG repatriates 22 migrants from 2 interdictions to Cuba
13:08 Team Transport & Logistics opens its new facility at the Port of Brisbane
12:31 Fleet of ships serving Vale receives first VLOC in the world equipped with rotor sails
11:09 Keel laying ceremony for second Finnlines’ hybrid ro-ro vessel