• 2020 January 2 11:57

    MABUX: Bunker market this morning, Jan 02

    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 insignificant changes in the end of  2019:

    380 HSFO: USD/MT – 378.01 (-0.19)
    VLSFO: USD/MT – 655.00 (0.00)
    MGO: USD/MT – 713.01 (+0.94)


    On January 1, 2020, emission limits came into force (IMO 2020). The situation in various regions of the world remains not entirely clear in terms of the availability of new 0.5% fuels, as well as in terms of prices for new fuel. In some ports there is a situation that the price of VLSFO is higher than traditional MGO. This situation may last for the next few weeks (months?) until the market comes to a balanced state.

    Meantime, world oil indexes dropped on Dec.31, but notched the biggest annual gain in three years, supported by a thaw in the prolonged U.S.-China trade war and ongoing supply cuts from major oil producers.

    Brent for March settlement dropped by $2.44 to $66.00 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for February decreased by $0.62 to $61.06 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $4.94 to WTI. Gasoil for January delivery lost $9.00.

    Today morning global oil indexes demonstrate slight upward trend.

    Brent gained about 23% in 2019 and WTI rose 34%, their biggest yearly gains in three years, backed by the recent breakthrough in the trade talks and output cuts pledged by the Organization of the Petroleum Exporting Countries (OPEC) and its allies. Forecasters do not expect oil prices to move sharply in either direction next year. Brent crude is expected to hover around $63 a barrel, down modestly from current levels, as OPEC production cuts offset weaker demand.

    U.S. President Donald Trump said the Phase 1 trade deal with China would be signed on Jan. 15 at the White House. Signs of progress on the deal had boosted China’s factory output and manufacturing activity in the country expanded for a second straight month.

    The Iranian Offshore Oil Company (IOOC) is currently implementing US$2.6 billion worth of projects expected to boost Iran’s offshore oil production by 85,000 barrels per day (bpd). The Iranian state-held offshore oil firm has awarded various projects to Iranian service contractors. The contracts include work on drilling, completion, and repair of 40 wells, as well as the construction and installation of wellhead equipment and five offshore platforms. Work is being done to boost oil production at the Siri field in the Persian Gulf under a contract with an Iranian company. Iran continues to export oil, especially to China, but it has drastically increased the secrecy of how it ships that oil abroad and says that it is using every means possible to export its crude.

    China issued the first batch of oil product export quotas for 2020 and they are 53 percent higher than this year’s. At 28 million tons, the oil product export quotas will likely deepen an already serious glut of oil products on Asian markets that have eaten into refiner’s bottom lines. The quotas were issued to five state oil companies. It will be up to each of the companies to decide which fuels make what portion of their total quota, unlike in previous years. There has been mounting concern among refiners in other Asian countries during most of this year that surplus fuel production in China would spill into neighboring countries, undermining the profit margins of local refiners.

    Gazprom and Ukraine’s Naftogaz finally reached a deal on the transit of Russian natural gas through Ukraine to Europe. There was concern in Europe that the two may fail to reach an agreement that would affect Russian gas deliveries to Europe given the tense political relations—and legal disputes—between the neighbors but, once again, pragmatism seems to have prevailed. The good news for Ukraine, for whom gas transit fees are vitally important, is that the agreement includes stipulations about guaranteed volumes of gas that Gazprom will send across Ukraine. These are 65 billion cubic meters for 2020, falling to 40 billion cubic meters for the period between 2021 and 2024. Gazprom has a 36-percent share of the European natural gas market, with European exports outside the former Soviet Union averaging 200 billion cubic meters. Of this, 86.8 billion cubic meters were transited through Ukraine last year.

    Late Tuesday, the American Petroleum Institute (API) reported crude oil supplies fell by 7.8 million barrels for the week-ended December 27, to 436 million barrels.  Traders were looking for a draw of 3.2 million barrels. Crude stocks at the Cushing, Oklahoma, futures delivery hub fell by 1.4 million barrels, and refinery crude runs rose by 74,000 barrels per day, the API data showed. U.S. crude imports fell last week by 447,000 barrels per day to 5.97 million bpd.

    We expect bunker prices may start the year with a downward trend in a range of minus 3-9 USD.




2020 October 21

18:30 Hyundai Motors to ship 50 hydrogen trucks via the port of Antwerp
18:06 NYK Group dry bulk carrier rescues sailors off the coast of Indonesia
17:36 MAN Energy Solutions to lead Danish consortium developing ammonia-fuelled engine for Maritime sector
17:19 NSR cargo traffic to exceed 31 million tonnes in 2020 – Aleksey Likhachev
17:05 Stena Embla successfully completes sea trials
16:41 Port of Rotterdam throughput in first three quarters of 2020 falls 8.8% short of last year’s total
16:16 Steerprop azimuth propulsion to propel shallow-draught icebreaking walk-to-work vessel
16:05 Port of Rotterdam Authority starts to produce and spread bokashi
15:47 Lenpromavtomatika to supply control system for LNG-powered passenger vessel Chaika
15:33 First Ship-to-Ship LNG bunkering business to commence in Japan
15:04 Optimodal adds new train service between Antwerp and Neuss, Germany
14:04 Northwest Seaport Alliance handles 308,682 TEUs in September 2020
13:30 RF Navy’s frigate Admiral Kasatonov starts anti-submarine exercises in the Barents Sea
13:04 Port of San Diego invites the public to review and provide feedback on the Revised Draft PMPU
12:37 Meeting on implementation of project for development of Kaliningrad seaport infrastructure held in Pionersky
12:32 Lead nuclear-powered icebreaker of Project 22220, Arktika, delivered to Atomflot
12:03 IPCSA expands its membership into South America with its latest member Procomex of Brazil
11:50 BLRT Grupp built unique offshore fish farming barge
11:31 Lead nuclear-powered icebreaker of Project 22220 to start operating in NSR waters from December 2020
11:00 Kongsberg Digital’s K-Sim® Fishery simulator wins the coveted SAFETY4SEA 2020 Training Award
10:25 Yet another batch of large-size equipment for new ethylene plant delivered to Nizhnekamsk
10:02 Yevgeny Norenko takes position of Managing Director at Nobel Brothers and Vimpel shipyards
09:43 Bunker prices rise in the Port of Saint-Petersburg, Russia (graph)
09:24 Oil prices continue decreasing in response to US reserves growth
09:06 Baltic Dry Index as of October 20
09:05 CMA CGM announces PSS from North Europe to Asia
08:21 MABUX: Bunker market this morning, Oct 21

2020 October 20

18:30 APM Terminals expands API offering and terminal coverage
18:17 CMA CGM announces FAK rates from West Med, Adriatic, Black Sea & East Med to the Indian Subcontinent
18:00 Okskaya Shipyard launches second multipurpose dry cargo carrier of Project RSD59 for Astrol
17:36 Equinor signs contract with Skanska for building site preparation and the construction of jetty facilities for the CO2 receiving terminal
17:03 Van Oord becomes the shareholder in Saare Wind Energy
16:38 Wan Hai Lines to launch China – India Service VI (CI6) Service
16:28 Tiksi port expansion is expected as new fields can be discovered in the region
16:03 Jotun offers Superyachts unique lifecycle support with launch of JotunCare
15:44 Rosmorport collects applications for debut bonds in amount of RUB 4 billion
15:30 DCSA publishes standard data definitions to enable just-in-time port calls
15:12 ESPO congratulates Port of Valencia for renewing PERS certification
14:23 Samsung Heavy Industries again chooses Wärtsilä cargo handling system design for new VLEC vessels
13:41 Modernization of port Tiksi to build up throughput to 300,000 tonnes
13:25 Port of Antwerp participates in developing and testing a private 5G network
13:20 Bunker prices are slightly up in the Far East ports of Russia (graph)
13:02 Port Houston container volumes up 1% to 251,524 TEUs in September 2020
12:33 RF Ministry of Economic Development to allocate RUB 2.8 billion for creation of port SEZ in Astrakhan Region
12:19 DNG Energy receives a licence for LNG bunkering in Coega
11:00 KSS Line signs with Hyundai Global Services for smart ship solution powered by Inmarsat and Intellian
10:58 ASW ship Vice-Admiral Kulakov and support vessels of RF Navy’s Northern Fleet enter Greece
10:37 Admiral Makarov frigate of RF Navy’s Black Sea Fleet passes Black Sea straits
10:12 LUKOIL and Rostec sign cooperation agreement
10:02 MABUX: Bunker market this morning, Oct.20
09:49 Shipbuilding Corporation “Ak Bars” to tell about passenger ship Chaika at 4th “LNG Fleet, LNG Bunkering and Alternatives” conference
09:26 Oil prices decrease amid second COVID-19 wave concerns
09:14 Baltic Dry Index as of October 19

2020 October 19

18:11 CMA CGM to launch the East Med - Black Sea Express
18:01 Taganrog coastal station of NAVTEX service obtains certificate of conformity
17:48 BPA to host 5G workshop
17:27 FESCO to supply India's research stations in Antarctica for the third year in a row
17:06 Valenciaport registers the record with 477,194 containers handled in September 2020
16:46 4th “LNG Fleet, LNG Bunkering and Alternatives” conference to be held online on 28 October 2020
16:05 Milaha obtains “ISO 27001” certification for Information Security Management System