• 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.




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