• 2019 November 18 10:19

    MABUX: Bunker market this morning, Nov 18

    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 15:

    380 HSFO - USD/MT – 334.29 (-3.60)
    180 HSFO - USD/MT – 379.52 (-1.90)
    MGO - USD/MT – 663.07 (-0.14)


    Meantime, world oil indexes rose on Nov.15 as comments from a top U.S. official raised optimism for a U.S.-China trade deal, but worries about increasing crude supplies capped prices.

    Brent for January settlement increased by $1.02 to $63.30 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for December delivery rose by $0.95 to $57.72 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $5.58 to WTI. Gasoil for December delivery gained $6.50.

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

    Optimism that the United States and China may soon sign an agreement to end their trade war helped support prices. U.S. Commerce Secretary Wilbur Ross said in an interview on Fox Business Network that there was a very high probability the United States would reach a final agreement on a phase one trade deal with China.

    As per the International Energy Agency, the Organization of the Petroleum Exporting Countries and its allies face stiffening competition in 2020. The IEA forecast, demand for crude oil from OPEC in 2020 will be 28.9 million bpd, 1 million bpd below the exporter club's current production. It was the IEA's last monthly report before the Dec. 5-6 talks among OPEC states and partners led by Russia on whether to maintain supply curbs aimed at buoying prices and balancing the market. The agency kept its assessments for growth in global oil demand in 2019 and 2020 at 1 million bpd and 1.2 million bpd respectively, but said its outlook might slightly underestimate the impact of tariffs from the U.S.-China trade war.

    As per RF Energy Ministry, Russia will not only keep its position on the global energy markets, but it expects to be able to boost its crude oil exports by up to 500,000 bpd, the equivalent of 25 million tons. Russia’s total crude oil exports in five years could grow to 280 million tons, or 5.62 million barrels per day. Russia exports a large part of its crude oil production, mainly to Europe, although China has emerged as a big buyer of Russian crude in recent years as Beijing’s oil demand continues to grow. China is the biggest buyer of Russian oil outside Europe, while Russia became the largest supplier of crude to China in 2016, surpassing Saudi Arabia for the first time on an annual basis. For two years after 2016, Russia was the single biggest supplier of crude oil to China, but Saudi Arabia has recently regained its number-one supplier status to China. Russia’s plans to boost oil exports puts it, again, in direct competition in the most coveted oil demand market with Saudi Arabia.

    In the United States, production keeps rising, and there was a bigger-than-expected increase in U.S. stockpiles. Production has grown from 11.7 million bpd at the beginning of the year to an all-time high of 12.8 million bpd for week ending November 8, marking the first production increase after five weeks of holding fast at 12.6 million bpd. The production growth represents an increase of more than 1 million bpd from the beginning of the year.

    U.S. crude inventories grew by 2.2 million barrels (as per EIA report last week), exceeding the 1.649 million-barrel rise forecast. The U.S. shale industry plans another spending freeze next year and a sharp slowdown in production growth, as prolific oil and natural gas output has pressured prices and squeezed profits.

    The US oil and gas rig count continued its downward slide last week. For oil rigs specifically, last week marked eleven decreases out of the last thirteen weeks, falling 96 rigs in that timeframe. The total oil and gas rig count now stands at 806, or 276 down from this time last year. The total number of active oil rigs in the United States decreased by 10 reaching 674.

    Venezuela had loaded almost 11 million barrels of crude in just the first 11 days of November, which is more than twice as much as it did in the same period last month. Most of the oil seems to have gone to India and China, with half of the vessels transporting it turning their transponders off to avoid detection. Venezuela’s crude oil production in September averaged just 644,000 bpd, down from 727,000 bpd in August and an average 975,000 bpd over the first half of the year. This shows that sanctions are working to curb oil production, but they have not been able to stifle Venezuela’s exports to zero. The country has oil-for-cash agreements with China and Russia, and although it struggles to repay this debt with its limited amount of oil, it is paying down some of it—apparently without violating any sanctions.

    We expect bunker prices may rise today in a range of plus 4-7 USD.




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