• 2020 February 14 10:27

    MABUX: Bunker market this morning, Feb 14

    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 demonstrated upward changes on February 13:

    380 HSFO - USD/MT 362.77 (+2.78)
    VLSFO - USD/MT 543.00 (+3.00)
    MGO - USD/MT 598.64 (+3.19)


    Meantime, world oil indexes also increased on Feb. 13 on beliefs, that Russia and OPEC will deepen production cuts to prevent worsening of crude demand from a new spike in deaths and infections from China’s Covid-19 epidemic.

    Brent for April settlement increased by $0.55 to $56.34 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for March rose by $0.25 to $51.42 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $4.92 to WTI. Gasoil for March delivery added $4.50.

    Today morning oil indexes are steady amid possibility of deeper supply cuts from major producers.

    China reported a sharp spike in deaths and infections from a new virus after the hardest-hit province of Hubei applied a new classification system that broadens the scope of diagnoses for the outbreak, which has spread to more than 20 countries. The death toll in China reached 1,367, up 254 from the previous day. The number of confirmed cases on Feb.13 jumped by 15,152 to 59,804. But the other countries still believe that China is under-reporting the number of infections and deaths.

    The International Energy Agency (IEA), meanwhile, estimated a drop of 435,000 barrels a day during the first three months of the year. It had previously expected world fuel consumption to grow by 800,000 barrels a day compared with a year earlier. The expected decline in demand prompted the agency to cut its 2020 growth forecast by 365,000 bpd to 825,000 barrels a day, the lowest since 2011. The effects from coronavirus to oil demand will be more significant than those of the 2003 SARS epidemic because of China’s increased importance and integration within the world economy.

    The outbreak has shuttered businesses and prompted the quarantine of tens of millions of people in China, the world’s biggest crude importer. The country accounted for about 75% of last year’s oil-demand growth, according to the IEA.

    The new estimates show that oil markets face a significant surplus despite the latest production cuts by OPEC and its partners. There are still hopes, that OPEC to agree to a 600,000-barrels-per-day cut in production to offset some of the lost demand in crude. However, Russia, a key producer, has so far resisted the initiative, asking for time to study the proposal. Russia will settle its position in a “timely” way, a Kremlin spokesman said on Feb.13. This suggests a decision won't be arriving any time soon.

    At the same time, the OPEC+ alliance had already faced an oversupply in the first half of 2020 because of the ongoing output surge from U.S. shale-oil drillers. That industry is likely to remain resilient against the price slump until later in the year, it predicted. Given the abundance of supply, disruptions in OPEC members such as Libya and Nigeria are having little impact on prices, the agency said.

    We expect bunker prices may increase today: 1-3 USD up for IFO, 1-4 USD up for MGO.




2020 May 27

16:04 UN agencies call for urgent action on crew changes and keyworker designation for sea and air workers
15:59 Cai Mep International Terminal welcomes maiden call of TP17 service
15:13 Traficom extends validity of certain seafarers’ competency and proficiency certificates
14:37 Krasnoye Sormovo shipyard launches Pola Agata of Project RSD59
14:02 First global standard for ship hull cleaning essential for marine ecosystems
13:44 Experts consider development of autonomous shipping as advantage for seafarers
13:29 Introduction of autonomous cargo carriers en masse expected within five-ten years
13:02 DEME Offshore successfully completes the inter-array cable laying works at the SeaMade offshore wind farm
12:45 Industry experts discussed trial project on unmanned navigation in Russia
12:30 Multipurpose Reloading Complex in Ust-Luga: environmental performance conforms with standards
12:01 Payment term for sea port dues remains 30 days for the time being in the Port of Rotterdam
11:03 Wärtsilä upgrades the SCANTS Simulation Complex to provide advanced training at the United States Coast Guard Academy
10:32 Alexeev’s Hydrofoil Design Bureau launches fifth Valdai 45R hydrofoil for Nizhny Novgorod Region
10:05 Oil prices decrease by 0.17%-0.32%
10:03 HMM Algeciras, the largest container ship worldwide, on its way to Rotterdam
09:44 Baltic Dry Index on May 26
09:18 Bunker prices continue going up at the port of Saint-Petersburg, Russia
09:11 CMA CGM announces Overweight Surcharge (OWS) from Asia to the Mediterranean & Black Sea
09:02 MABUX: Bunker market this morning, May 27
08:19 Diana Shipping announces time charter contract for m/v Crystalia with Glencore

2020 May 26

18:32 Diana Shipping signs a term loan facility with ABN AMRO Bank to refinance two separate existing loans with the bank
18:06 Jotun hull skating solutions tested by Wallenius Wilhelmsen
17:31 Bunker prices are going up at the Far East ports of Russia (graph)
17:05 CMA CGM ends PSS for exports from West Med, North Europe, Scandinavia & Poland, Baltic, Italy Adriatic & Black Sea to Mayotte, Seychelles, Comoros & Madagascar outports
16:30 Damen announces Electric Cutter Suction Dredger 650
16:05 Aker Solutions starts CCS test program at Preem refinery in Sweden
15:35 Norsepower Rotor Sail installation completed on Scandlines ferry in just hours
15:01 Baltiysky Zavod lays down forth 60-MW icebreaker of Project 22220
13:59 Mitsui O.S.K. Lines and LNG Terminal Wilhelmshaven sign a contract to build and charter an LNG terminal ship
13:42 RF Government approves Customs Service Development Strategy till 2030
13:15 Rospotrebnadzor issues guidelines on prevention of COVID-19 spread for sea and river passenger ports and terminals
12:37 Sredne-Nevsky Shipyard starts cutting steel for construction of first passenger ship of Project А45-90.2
11:58 Vostochny Port invests RUB 850 million in completion of wind and dust protection facilities
10:40 A.P. Moller - Maersk, DSV Panalpina, DFDS, SAS and Ørsted join forces on an ambitious sustainable fuel project
10:04 Oil prices rise by 1.97%-3.43%
09:49 Cai Mep International Terminal welcomes the first maiden call of TP17 service deployed by 2M alliance
09:43 4 Caspian Ports discussed joint measures to combat COVID-19 pandemic
09:21 LUKOIL installs accommodation platform jacket at v.i. Grayfer field
08:47 MABUX: Bunker market this morning, May 26

2020 May 25

17:46 Transit cargo flow by Primorye 2 ITC to Zarubino port surged by 64.8%
17:20 Wilson ASA enters into agreement with Arkon Shipping to strengthen European presence
16:42 Oboronlogistics took part in RF Transport Ministry’s meeting
16:18 Average wholesale prices for М-100 HFO rose to RUB 6,405 in RF spot market
15:55 RF Government bans imports of diesel and marine fuel
15:30 Second shallow-draft dry cargo barge of Project RDB20, Belmax 10, floated out
15:04 Upgrading of Wärtsilä FuelFlex Injection Control Unit enables reliable operation with low-sulphur fuels
14:14 UN must persuade governments to adopt crew change protocols or risk ‘humanitarian disaster’ - ICS
13:14 Port of Melbourne appoints Shaun Mooney to lead commercial operations
12:13 APM Terminals Algeciras connects to the national 66KV energy network
11:51 Global Ports handles first batch of BMWs in Saint Petersburg under its contract with ROLF SCS
11:33 Russia's Main Department of State Expertise approves construction of MSCC Bronka terminal
11:00 Drone delivers package to vessel in the port of Rotterdam for the first time
10:55 Austal Vietnam launches first vessel - 94 metre catamaran ferry for Trinidad and Tobago
10:12 C&C Marine and Repair increases its production capacity
09:56 Throughput of port Shanghai (China) in 4M’20 fell by 16% to 149.5 million tonnes
09:35 Oil prices rise by 0.26%-0.78%
09:17 Baltic Dry Index on May 22
09:00 MABUX: Bunker market this morning, May 25

2020 May 24

17:08 Teekay Corporation reports Q1 2020 results
16:43 BIMCO, Institute of Chartered Shipbrokers, Videotel partner in online education collaboration