• 2020 January 3 11:54

    MABUX: Bunker market this morning, Jan 3, 2020

    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 slight irregular changes on January 2:

    380 HSFO: USD/MT – 378.42 (+0.41)
    VLS FO: USD/MT – 654.00 (-1.00)
    MGO LS: USD/MT – 712.77 (-0.24)


    Meantime, world oil indexes rose slightly on Jan. 02 amid concerns that U.S. crude production could rebound strongly

    Brent for March settlement increased by $0.25 to $66.25 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for February rose by $0.12 to $61.18 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $5.07 to WTI. Gasoil for January delivery increased by $1.50.

    Today morning oil indexes rise sharply underpinned by escalating tension in the Middle East.

    Reports that a U.S. air strike killed key Iranian and Iraqi military personnel escalated Middle East tensions and raised concerns of oil supplies disruption. An air strike at the Baghdad International Airport early on Friday killed Iranian Major-General Qassem Soleimani, head of the elite Quds Force, and Iraqi militia commander Abu Mahdi al-Muhandis. Soleimani's killing marks a dramatic escalation in the regional "shadow war" between Iran and the United States and its allies. Iranian Supreme Leader Ayatollah Ali Khamenei vowed harsh revenge.

    Iraq, the second largest producer among the Organization of the Petroleum Exporting Countries, exports about 3.4 million barrels per day of crude mostly from southern Basra port.

    Oil prices were also supported by China's central bank saying on Wednesday it was cutting the amount of cash that banks must hold in reserve, releasing around 800 billion yuan ($115 billion) in funds to shore up the slowing Chinese economy. This came shortly after data showed China's production continued to grow at a solid pace and business confidence shot up. Earlier this week, Trump said a phase one trade deal will be signed on Jan. 15 at the White House.

    In the market appear worries that U.S. oil drillers who had been restrained in their activity all through 2019 could turn the spigots back on full force this year. The big question this year is can or will U.S. producers be able to continue to add as much extra volume as they have been for the last seven - eight years. U.S. crude production hit a record high of 12.9 million barrels per day in 2019. Yet U.S. drillers cut the number of actively-operating oil rigs to 677 this year from 885 at the end of 2018, a 24% reduction. The main reason for such a cutback in actively-drilling U.S. oil rigs this year was the price uncertainty that persisted midyear.

    Oil’s 2019 rally was largely helped by production cuts carried out by OPEC. Right from January the Saudi-led OPEC, joined by its ally Russia under the OPEC+ alliance, tried to enforce a daily production cut of 1.2 million barrels. As that arrangement was about to expire in December, OPEC+ said it would deepen the cuts to 2.1 million barrels per day from the start of 2020.
    Despite its plan for stiffer reductions this year, OPEC+ could have a tougher time keeping oil prices up as U.S. shale oil output could rebound.

    Non-OPEC oil supply, led by the U.S. shale, is forecast to grow by 2.1 million barrels a day in 2020, according to the Paris-based International Energy Agency (IEA). Global demand for oil, meanwhile, is set to increase by 1.2 million barrels a day next year. That means the world will need 900,000 fewer barrels of oil every day from both OPEC and non-OPEC producers alike, a situation that could sharply offset OPEC+ production cuts.

    Also, Russia’s crude oil and condensate output hit a post-Soviet high last year even as it curbed production under an agreement with OPEC.

    We expect bunker prices will demonstrate upward changes today: 1-3 USD up.




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