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  • MABUX: Bunker market this morning, Jan 29
  • 2020 January 29 09:49

    MABUX: Bunker market this morning, Jan 29

    The Bunker Review was contributed by Marine Bunker Exchange (MABUX)

    MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO (Gasoil) in the main world hubs continued to decline on January 28:

    380 HSFO: USD/MT – 372.55 (-5.59)
    VLSFO: USD/MT – 591.00 (-8.00)
    MGO: USD/MT – 634.83 (-9.99)


    Meantime, world oil indexes rose on Jan.28 gaining support from talk that OPEC and its allies might tighten the market amid fears the coronavirus could weigh on oil demand.

    Brent for March settlement increased by $0.19 to $59.51 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for March rose by $0.34 to $53.48 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $6.03 to WTI. Gasoil for February delivery added $13.50.

    Today morning oil indexes continue slight upward evolution on talk that OPEC could extend oil cuts and data showing a decline in U.S. stockpiles. The main driver that weights oil indexes is a virus in China. However, the output outages in Libya and OPEC comments calmed the market.

    OPEC wants to extend oil production cuts until at least June from March, and may deepen the reductions should demand for oil in China be significantly reduced by the spread of the virus. As the oil price fell below that seen during a December meeting of the OPEC+, Saudi Arabia said that the group could respond to any changes in demand. Saudi and other OPEC producers, however, sought to downplay demand concerns resulting from the virus outbreak.

    The remarks followed a statement on Jan.27 from Saudi Arabia’s oil minister, Prince Abdulaziz bin Salman, aimed at calming the market after crude dropped below $59/b amid fears of a wider economic impact of the virus. He said, the kingdom has the capability and flexibility needed to respond to any developments, by taking the necessary actions to support oil market stability, if the situation so requires.

    The United States and other countries warned against travel to China as the coronavirus death toll rose to more than 100 and after the virus was detected in more than a dozen countries outside China. There are some concerns that travel advisories, other restrictions and any sizable impact on growth in China and elsewhere will dampen demand for crude and related products against a backdrop of plentiful supply.

    China’s already weakening economy is set to take another hit with businesses across the country remaining shut for an extended public holiday and tourism grinding to a halt, as authorities struggle to contain the pneumonia like coronavirus that has spread across the nation.

    In Libya the output is down by nearly 75% to just below 300,000 bpd amid the most extensive oil blockade for years. Some say, OPEC probably does not need to do anything as long as Libya continues to be shut.

    According to the American Petroleum Institute, stockpiles of U.S. crude fell sharply last week by 4.3 million, compared with build of 1.6 million reported last week. The Energy Information Administration reports the official government numbers later today.

    We expect bunker prices may increase today: 1-3 USD up for IFO, 10-13 USD up for MGO.




2022 December 8

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17:44 Hyundai Heavy Industries to develop ammonia FSRU - BusinessKorea
17:39 Academy of Industry Markets welcomes to LNG Market online course
17:34 CMA CGM may double methanol-fuelled boxship order - Ship & Bunker
17:22 Stockholm Norvik Port starts new train service
17:16 Freeport of Ventspils cargo turnover in 11M'2022 increased by 32% YoY to 13.3 million tonnes
16:50 NSR fleet of icebreakers to number 17 units by 2030 and 22 units by 2035 – Vyacheslav Ruksha
16:47 Terminal operators upgrade rail-shortsea connection at Rotterdam
16:27 Plan for NSR development until 2035 foresees creation of container shipping fleet numbering 9 containerships of Russian transit operator
16:05 OOCL presents 2023 OCEAN Alliance products
15:28 Oil tankers with P&I club insurance piled up at The Bosphorus Strait
15:25 Oboronlogistics to continue acting as cargo agent for two ferries operating on Ust-Luga-Baltiysk line
14:46 Total dividends paid by CPC-R this year to exceed RUB 66 billion
14:23 TAQA, ADNOC, and Mubadala complete transaction for stake in Masdar Clean Energy Powerhouse
14:03 BCG and ABS combine expertise to support marine and offshore decarbonization
13:43 Tallink takes delivery of ferry MyStar
13:28 SCZONE signs 7 MoUs for green fuel production
13:02 Shekou Container Terminals implements Portchain Connect
12:43 Equinor wins commercial-scale offshore wind lease in California
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11:58 Sevmorput is about to complete its second subsidized voyage from the Far East to Saint-Petersburg with 46-pct loading
10:55 Eurochem is ready to transfer its ammonia shipment terminal from Estonia to Russia
10:09 INTERCARGO issues statement on IMO decarbonisation measures
09:42 ADNOC creates Low Carbon Solutions & International Growth vertical
09:30 New anchorage in Ust-Luga seaport is intended for ship-to-ship transshipment of fuel
09:22 AD Ports signs collaboration agreement with Africa Finance Corporation
08:27 CMA CGM to upgrade its Zanzibar Feeder service

2022 December 7

18:27 SBTi launches world-first roadmap for net-zero shipping by 2040
18:09 IPEM expects Russian Railways' network loading to fall by 4% this year
17:44 NYK conducts successful demonstration of new cargo hold monitoring system featuring IoT sensors
17:23 Sempra Infrastructure announces agreement with ENGIE for supply of U.S. LNG from Port Arthur LNG Phase 1
17:16 ASOP expects throughput of Russian seaports to grow by 3-5% in 2023
16:47 The major shipping lines post an operating profit of USD 122bn in Jan-Sept 2022 - Sea-Intelligence
16:30 Market players report idle time of ships in the Far East ports of Russia of up to three months
15:45 Oil exports from Russia in the first 11 months of 2022 increased by +11.2% to 199.4 mln tonnes
15:33 Throughput of Murmansk Sea Fish Port in November 2022 rose 1.8 times YoY
14:45 LR certifies DriX uncrewed surface vessel
14:31 Trade turnover between Russia and China in 11M’22 rose by 32% YoY to $172.41 billion
14:02 Russian coal exports up after EU loosens curbs - Bloomberg
13:34 GPA approves a plan to renovate the docks at the Port of Savannah’s Ocean Terminal
13:29 Container traffic on Russian Railways’ internal network in 11M’2022 rose by 3.4% YoY
13:04 OSR plan approved based on drill results in CPC Marine Terminal water area
12:40 Bunker sales at Vladivostok port in 11M’2022 fell by 25% YoY
12:17 Number of containers with Chinese goods delivered to Saint-Petersburg surged 12 times this year
12:13 Charleston Harbor becomes the deepest harbor on the U.S. East Coast at 52 feet
11:58 Dynamar forecasts that perishable export volumes to fall slightly in 2022
11:31 Viking Line chooses Finnish flag for Viking XPRS
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11:08 WinGD wins engine diagnostics orders as ship owners look to reduce OPEX
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10:15 Semakovskoye gas field enters operation on Yamal
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09:21 Ship of Project NE-020.2 Anatoly Cherneyev registered with Korsakov (Sakhalin) as its homeport

2022 December 6

18:36 SCZONE receives an economic delegation from the European Union
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17:57 RF Ministry of Transport addressed with a proposal to reduce fuel expenses of fishing ships operating in remote areas
17:46 Port of Belledune signs MOU with Port of Hamburg
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