• 2019 December 4 10:03

    MABUX: Bunker market this morning, Dec 04

    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) rose on December 03:

    380 HSFO: USD/MT – 335.62 (+3.93)
    180 HSFO: USD/MT – 379.42 (+3.75)
    MGO: USD/MT – 666.36 (+2.47)


    Meantime, world oil indexes changed insignificant and irregular on Dec.03 as expectations of output cuts from OPEC and allied producers brought prices back up after they slid briefly following comments from U.S. President Donald Trump that a trade deal with China may be delayed.

    Brent for February settlement decreased by $0.10 to $60.82 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for January delivery rose by $0.14 to $56.10 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $4.72 to WTI. Gasoil for December delivery lost $5.00.

    Today morning oil indexes continue slight upward evolution.

    Concerns about the inability of the United States and China, the world’s two biggest oil users, to reach a preliminary deal to resolve their 17-month trade dispute also weighed on oil prices. A senior adviser to President Donald Trump said a U.S.-China trade deal was still possible before the end of the year, adding that the first phase of the agreement was being put to paper, but the talks have been dragging on for weeks now. Meantime, President Trump in turn said a U.S.-China trade agreement might have to wait until after next November’s presidential election.

    Russia is the second-largest producer and the largest exporter of natural gas in the world and the country’s most important customers are in Europe where the bulk of its exports are consumed. The completion of the Power of Siberia pipeline (the official opening of the was on December 2nd) , however, could be a pivotal moment for Moscow as it reduces its reliance on traditional customers in the West. Besides Russia’s relations with Europe, the completion of the pipeline could also affect the import of LNG into China and potentially the trade deal between Beijing and Washington. At the moment is seems that in the short to medium-long term a significant part of China’s gas demand will be supplied by Gazprom. Siberian gas will most likely replace LNG in northeastern China. Several Chinese importers have already hinted that they are thinking of selling LNG cargoes on the spot market as they can buy cheaper piped gas.

    Ecuador may renege on its decision to quit its OPEC membership, which was supposed to take effect January 1, 2020. Ecuador had announced its decision to quit the oil cartel in earlier October, at a time when the country declared a state of emergency as violent protests erupted over the end of fuel subsidies. Its membership cancellation would have saved Ecuador around $2 million dollars in the form of an OPEC membership fee.

    After a decade of unprecedented growth and seemingly endless investments, the Great American Shale Boom is slowing down now and this could have some grave consequences both the industry and the financial markets. A total of 32 oil and gas drillers have filed for bankruptcy through the third quarter, with the total number of bankruptcy filings since 2015 now clocking in at more than 200. Unlike Phase 1 of the oil bust that featured shale production declining due to global price collapse, the current slowdown is being driven partly by industry-wide core operational issues, including declining production due to wells being drilled too close to one another as well as production sweet spots running out too soon. Yet, the most important underlying theme precipitating the collapse is a growing financial squeeze as banks and investors pull in the reins and demand that shale drillers prioritize profitability over production growth.

    The survey showed that the vast majority of ships in the German fleet will run on the new sulphur-reduced fuel in response to IMO 2020. 81% of the companies surveyed will be using 0.50% very low sulphur fuel oil (VLSFO), while 11% will take advantage of their scrubber installations to use high sulphur fuel oil (HSFO). Around 6% said they will be using ‘other fuels, such as those prescribed already since 2015 for Emission Control Areas in the North Sea and the Baltic Sea – fuels with an even lower sulphur content of 0.10%’. One assumes that this includes low sulphur marine gasoil (MGO). Around 2% of the ships in the German fleet will already be operated using LNG after 2020, according to the survey. The survey respondents indicated that ‘the greatest challenge’ will be technical problems encountered during operations in the future, as well as the cost of the new fuel, and the issue of cost compensation by third parties, in particular customers.

    The American Petroleum Institute (API) has estimated a crude oil inventory draw of 3.72 million barrels for the week ending November 28, compared to forecast expectations of a 1.798-million-barrel draw in inventory—the biggest draw since September. Last week saw a build in crude oil inventories of 3.639 million barrels, according to API data. The EIA’s estimates, however, reported a smaller build of 1.6-million barrels for that week. US crude oil production as estimated by the Energy Information Administration showed that production for the week ending November 22 climbed to another brand new high for the week of 12.9 million bpd—more than 1 million bpd over the daily average production at the beginning of the year.

    We expect bunker prices will not have any firm trend today with possible fluctuations in a range of plus-minus 1-4 USD.




2021 January 20

18:54 Galeon Yachts announce new outboard model
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