• 2019 November 15 09:39

    MABUX: Bunker market this morning, Nov 15

    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) demonstrated irregular changes on Nov 14:

    380 HSFO - USD/MT 337.89 (-4.26)
    180 HSFO - USD/MT – 381.42 (-4.97)
    MGO - USD/MT – 663.21 (+1.88)


    Meantime, world oil indexes also demonstrated multidirectional changes after the Energy Information Administration reported a crude oil inventory increase for the last week.

    Brent for January settlement decreased by $0.09 to $62.28 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for December delivery fell by $0.35 to $56.77 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $5.51 to WTI. Gasoil for December delivery increased by $5.50.

    Today morning oil indexes rise as OPEC's outlook for oil demand next year added hopes that the producer group and its associates will keep a lid on supply when they meet to discuss policy on output next month.

    The Organization of the Petroleum Exporting Countries (OPEC) said on Thursday it expected demand for its oil to fall in 2020.OPEC on Nov.14 pointed to a smaller surplus in the oil market next year. In a monthly report, OPEC said demand for its crude will average 29.58 million bpd next year, 1.12 million bpd less than in 2019. The drop in demand could press the case for the Organization of the Petroleum Exporting Countries and its allies to maintain supply curbs at a meeting on Dec. 5-6. Still, the report kept its 2020 economic and oil demand growth forecasts steady.

    According to the Energy Information Administration U.S. oil inventories rose by 2.2 million barrels for the week ended Nov. 8, compared with expectations for a build of 1.65 million barrels. Gasoline inventories rose by nearly 1.9 million barrels, versus expectations for a drop of 1.17 million barrels. Distillate stockpiles fell by about 2.5 million barrels, compared with forecasts for a decline of 950,000 barrels. Crude production rose by 200,000 barrels per day (bpd) to a weekly record of 12.8 million bpd, the data showed. The inventory numbers were released a day later due to Monday’s federal holiday for Veterans Day.

    Moreover, U.S. crude oil output will grow more than expected in 2019 and 2020, the U.S. Energy Information Administration forecasted this week. U.S. oil production is expected to rise to 12.29 million barrels per day this year, 30,000 bpd more than the EIA forecast last month. U.S. oil output is expected to rise an additional million bpd to 13.29 million bpd in 2020.

    The agency increased its forecast for U.S. demand for petroleum and other liquid fuels this year to 20.58 million bpd, reflecting an annual demand increase of 80,000 bpd compared with last month’s forecast for 40,000 bpd. Petroleum and liquid fuels demand is expected to rise 170,000 bpd to 20.75 million bpd in 2020, the agency said.

    On a positive note, signs of improving trade relations between the U.S. and China, a potential agreement on Brexit after the UK's general election, and a stabilization of the downward slope in major emerging economies could stabilize growth at the current forecast level.
    OPEC’s Secretary General Mohammad Barkindo, commented, that the outlook in 2020 could surprise to the upside, citing prospects for a resolution of the trade dispute and lower non-OPEC supply.

    Optimism that the United States and China could soon sign an agreement to end their trade war also seeped into the market after White House economic adviser Larry Kudlow said a deal was "getting close", citing what he called very constructive discussions with Beijing.

    We expect bunker prices may demonstrate irregular changes today: US$ 1-3 down for IFO, US$ 3-5 up for MGO.




2021 January 20

18:15 CMA CGM announces FAK rates from Red Sea to North Europe & the Mediterranean
17:46 Håkan Agnevall assumes the position of CEO of Wärtsilä on 1 February 2021
17:16 SMM DIGITAL to stream conference programme online free of charge
17:01 GTNS supports 4th International Congress “Hydraulic Engineering Structures and Dredging” as its Sponsor
16:42 U.S. blacklists oil tankers for undermining Venezuela sanctions
16:00 Krasnoye Sormovo shipyard launches dry cargo carrier Vladimir Latyshev
15:24 Port Houston presents 2040 Plan
15:07 RF Navy’s patrol boat "Yaroslav Mudry" conducts exercises in the sea ranges of the Baltic Fleet
14:45 Amendments to increase safety proposed to Finland's Water Traffic Act
14:26 Polaris sets off for the Bay of Bothnia as the season’s third icebreaker
14:02 First vessel certified with Responsible Fishing Vessel Standard by LR
13:41 SMM DIGITAL: Leading international maritime trade fair to stream conference programme online free of charge
13:23 Port of Los Angeles to reward container terminals for higher truck productivity
13:02 Dublin Port throughput increases by +7.6% in Fourth Quarter of 2020
12:35 Seaports of Okhotsk Sea and Tatar Strait increased their throughput by 4.4% YoY
12:21 Port of Zeebrugge container volume up 10.3 percent in 2020
12:10 CMA CGM announces PSS for cargo from India to North Europe & the Mediterranean
11:43 Rosmorport’s icebreakers completed over 2,400 pilotage operations in freezing seaports of Russia this season
11:18 Global Ports’ consolidated marine container throughput for the full year 2020 increased by 6.6%
10:54 Damen signs with Svitzer for ASD Tug 3212
10:54 Capacity of Russian seaports in 2021 to be increased by 50 million tons
10:30 MABUX: Bunker market this morning, Jan 20, 2021
10:12 Cryogas-Vysotsk reaches LNG milestone of one million tons
09:51 Crude oil prices rise on optimism driven by economy support
09:33 Bunker market sees mixed price movements at the Port of Saint-Petersburg, Russia (graph)
09:16 Baltic Dry Index as of January 19

2021 January 19

18:05 Wärtsilä signs a 5-year long-term service agreement with leading Chinese dredging company
17:44 Ventspils Universal Cargo Terminal maintains stable cargo turnover
17:25 CMA CGM announces FAK rates from the Middle East Gulf to North Europe and the Mediterranean
17:00 Annual German Maritime Forum to be held as a digital event on 28 January 2021
16:35 Austal launches VOLTA series of electric-powered high speed ferries
16:15 Market leader in bioplastics chooses port of Rotterdam
15:58 Zvezda starts building second LNG tanker of new ARC 7 class series
15:42 MES-S completes delivery of 87,000 dwt type bulk carrier to OCEAN JADE
15:11 ABS-Classed Suezmax is world’s first ammonia ready vessel
14:41 7th Port Planning & Development Asia Summit to be held live online on 2-5 March 2021
14:20 Alfa Laval joins forces with marine industry players to accelerate decarbonization
14:19 Throughput of port Kavkaz in 2020 rose by 13% Y-o-Y
13:56 Infocus International to hold online course on LNG business in 2021
13:18 Szczecin-Świnoujście Port complex reports on cargo handling in 2020
12:55 Russian Fishery Company demonstrated high results in 2020
12:23 RF Navy’s frigate "Admiral of the Fleet Kasatonov" makes business call at port city of Algeria
12:00 Samskip to start new container service between Amsterdam and Dublin
11:49 Beloomut hydrosystem to begin operation in April 2021
11:04 Over 10,000 frontline maritime personnel to receive COVID-19 vaccinations by end January
10:51 MABUX: Bunker market this morning, Jan 19, 2021
10:46 Costa Toscana floated out at Meyer Turku shipyard
10:20 DP World Antwerp Gateway orders fleet of Automated Stacking Cranes from Konecranes
10:12 BPA: Vaccine prioritisation needed for the unsung heroes of the UK ports sector
09:34 GTT receives its first order of 2021, from a SHI for the tank design of a new LNG carrier
09:27 Oil market sees mixed price movements
09:09 Baltic Dry Index as of January 18

2021 January 18

18:56 CMA CGM applies Local Port Charges for USA imports/export
18:26 The Valencia Containerised Freight Index rises 4.19% in December 2020
18:06 71 vessels were repaired at the “Bibiheybat” Ship Repair Yard in 2020
17:45 Klaipeda State Seaport Authority signs contract for shipping canal dredging
17:26 Hanseaticsoft’s Cloud Fleet Manager endorsed by Singapore government to help shipping companies accelerate their digitisation
17:16 Busan Por secures logistics base in Indonesia
16:47 SCF’s LNG carrier Christophe de Margerie completed her eastbound voyage carrying cargo of LNG along NSR
16:43 Port of Antwerp container throughput up 1.3% in 2020