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  • MABUX Digest: Top events on global bunker market. Week 08
  • 2020 February 24 14:53

    MABUX Digest: Top events on global bunker market. Week 08

    The Bunker Weekly Digest was contributed to IAA PortNews 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) did not have firm trend in the period of February 17-21:

    380 HSFO added 3.01 to 367.18 USD/MT
    VLSFO       lost 1.00 USD to 538.00 USD/MT
    MGO          fell by 0.44 to 599.07 USD/MT

    • Chinese refineries have cut output, causing crude stocks to pile up. That has left numerous Very Large Crude Carriers (VLCCs), capable of holding more than 2 million barrels of crude each, unable to unload at China’s top crude import terminal of Qingdao. Other cargoes are being diverted to South Korea, Malaysia, Singapore and other locales in China.

    • OMV Petrom (Romania) has started to produce IMO 2020-compliant VLSFO, first delivery at Constanza port. Developed at the Petrobrazi refinery, the new very low sulphur fuel oil (VLSFO) is said to be ‘unique to the Romanian market’ and for the first time reduces the country’s reliance on bunker fuel imports.

    • CMA CGM introduces Panama Canal Adjustment Factor. CMA CGM’s new CAN20 surcharge is $15 per TEU for dry and reefer cargo, with the exception of US to South America West Coast trades, where the charge is $15 per TEU, $30 per FEU, and $34 per 45 ft container. The new surcharge (CAN20) will be introduced from 1 March, with some regional exceptions.

    • Egypt denied reports that the navigation movement at the Suez Canal has been affected due to the spread of coronavirus in China. The Suez Canal Authority dismissed these reports stressing that navigation movement at the Suez Canal is normal.

    • The International Bunker Industry Association (IBIA) has warned International Maritime Organization (IMO) member states of the risks of imposing a universal policy on open-loop scrubber washwater discharge that ignores local conditions. As per Association, if attempt to harmonize local rules on discharges, shipping industry might end up with a ‘one size fits all" policy, that risks being too restrictive for some ports and coastal areas and not restrictive enough for others.

    • The use and carriage of HFO in the Arctic is increasing, with a 46% increase in the volume of HFO fuel carried by ships in the Arctic between 2015 and 2017, and a 57% increase in the amount of HFO used. This increases the risks of HFO spills and impacts from black carbon in the region.

    • Golden Ocean has announced that it has completed 14 of the 23 planned scrubber installations on its Capesize vessels – but the completion dates for some of the remaining installations have currently been extended due to the impact of the coronavirus in China.

    • IEA, annual methane emissions from oil and gas are around 80 million metric tonnes. Upstream methane emissions have been a particular critical issue when assessing the overall, life-cycle environmental impact of using liquefied natural gas (LNG) as a marine fuel.

    • Gazprom Neft (Russia) plans to produce more than 1.5 million mt/year of low-sulfur fuels for the domestic market, including both VLSFO and ultra low sulfur fuel oil (ULSFO) for use in emission control areas.

    • Portuguese oil refiner Galp is currently producing up to 220,000 mt/month of very low sulfur fuel oil (VLSFO) but no high sulfur fuel oil (HSFO). Shipowners hoping to find HSFO in Portugal for their scrubber-equipped vessels have to look elsewhere.

    • The total volumes of bunker fuel sold in Rotterdam in 2019 dipped to below nine million cubic metres (cbm) in 2019, down from 9.5 million cbm in the previous year. Meantime, the bunkering demand for LNG, biofuels and very low sulphur fuel oil (VLSFO) increased over the past year – but then LNG and biofuels are still building from a low base and the jump in VLSFO sales has been precipitated by the introduction of the IMO 2020 0.50% global sulphur cap.

    • Maersk has announced a 6.7% reduction in its bunkering consumption in 2019 compared to 2018. This reduction is even with fleet growth. The figures additionally indicate a bunker price of $412 per tonne in 2019 compared to $424 USD per tonne in 2018.

    • The Standard Club has advised its members about 'sudden and unannounced' inspections by Turkish customs on ships. A number of incidents have been reported where custom officials have boarded ships for the purpose of checking the ship’s actual fuel quantity against the one declared on arrival.
    • Argus reported that High sulfur fuel oil (HSFO) now claims just a 5% share of the total bunker market in the US. HSFO makes up 5% of sales, marine gasoil 33- 38% and very low sulfur fuel oil (VLSFO) 57- 62%.

    • Singapore’s residual fuel oil inventories jumped 10% to their highest in more than nine months, in the week ended Feb. 19, despite plummeting net import volumes, in the latest sign of sluggish bunker demand in the city-state.

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2021 December 4

15:21 MOL and Flotation Energy to explore offshore floating wind in Japan
14:51 Sembcorp Marine's LMG Marin to design world’s first zero-emission fuel tanker
13:09 USCG, royal Turks and Caicos Islands Police Force sign MOU
12:34 The Hurtigruten terminal has been renamed Jektevik terminal
11:02 Port of Rotterdam Authority embarks on partnerships with three promising maritime companies

2021 December 3

18:26 Hydrographic Company set to establish Center of Engineering and Technical Expertise
18:07 ABP Humber complete oil spill incident management exercise
17:52 Wärtsilä OPTI-DP Engagement Tool supporting the marine industry to configure optimised propulsion arrangements for DP vessels
17:45 Ocean Network Express conducts a joint crisis management drill with Seaspan Corporation
17:40 Transport Strategy of Russia until 2030 with forecast until 2035 published on official portal
17:22 MSC adds Hamburg to its feeder service „Baltic Loop 3“
17:02 Vyborg Shipyard launches KMT01 trawler named Kara Sea
16:32 South African minister visits Port of Rotterdam to discuss hydrogen exports
16:05 PD Ports contracts Konecranes to convert four RTGs to electric
15:31 Four Jones Act CTVs built to ABS Class to support U.S. offshore wind development
15:17 ABS, NYK, MTI and WinGD team-up to verify design with modeling and simulation
14:03 Jurong Port joins the Castor Initiative
13:30 ABS awards sustainability notations to two Harvey Gulf vessels
13:04 Kapitan Dranitsyn and Admiral Makarov icebreakers reinforced icebreaker group on NSR
12:57 Royal IHC delivers key components for “R.B. Weeks” to Weeks Marine
12:42 Icebreaker assistance season begins in White Sea waters
12:17 Sailing practice of 2021 on Mir sailing ship successfully completed
11:21 NCSP Group's consolidated revenue for 9M’2021 rose by 9.3%
10:53 Foreign contractors can be involved to build LNG-powered icebreakers for Arctic
10:38 MABUX: Bunker prices may demonstrate multidirectional changes with tendency to grow on Dec 3
10:29 The Korean Register publishes guidance for containers loading on bulk carriers
10:20 MSU-1 to perform reconstruction of Gorodetsky hydrosystem locks
09:57 Annual repair dredging in Gulf of Ob from 2023 estimated at 5 million cbm
09:35 Crude oil prices rise on OPEC+ decision to keep oil output increase in January
09:18 Baltic Dry Index as of December 2

2021 December 2

18:36 NRP buys handysize drybulk carrier
18:06 2M Alliance’s Far East liner service „AE 7/Condor“ calls at Hamburg again
17:54 Icebreaker assistance season starts in Big Port St. Petersburg on December 7
17:36 Vitol is first customer to approve completely digital inspection of cargo tanks
17:15 BIMCO launches new contract for employment of security escort vessels
16:45 GTT will design the tanks of four new LNG carriers ordered by Daewoo Shipbuilding & Marine Engineering to operate in Arctic waters
16:25 MOL announces delivery of next-generation coal carrier 'EeneX' series
16:05 PSA & ONE launch environmentally friendly barge service at Jurong Island Terminal
15:42 “K” Line conducts trial use of marine biofuel for decarbonization on car carrier
15:38 Wärtsilä wins order to supply cargo handling system for second LNG bunker vessel being built by Fincantieri Bay Shipbuilding
15:23 Verifavia launches industry’s first real-time carbon intensity indicator dashboard
14:55 Two more LK-60 icebreakers needed for regular year-round navigation on Northern Sea Route
14:28 Equinor and SSE reach financial close on the third phase of the world's biggest offshore wind farm
14:04 Nuclear-powered icebreaker Sibir to commence operation in Kara Sea in early January 2022 – Vyacheslav Ruksha
13:42 MABUX: Bunker Weekly Outlook, Week 48, 2021
13:02 European shipowners call for further action in the Gulf of Guinea
12:40 Rolls-Royce to supply eight mtu engines for new Svitzer tugs in Brazil
12:01 Throughput of Azov port in 11M’2021 climbed by 1% YoY
12:00 NORDEN simplifies business unit structure
11:36 Norway’s Eksfin tops NOK 10bn in offshore wind financing as Dogger Bank C reaches financial close
11:34 Annual throughput of Severnaya Zvezda project on Taimyr peninsula to exceed 7 million tonnes from 2026
11:10 MABUX: Uncertainty on Global bunker market to continue on Dec 02
10:00 Digital Twin Conference 2022 to be held virtually on 11-12 May 2022
09:33 Crude oil prices are rising in expectation of OPEC+ meeting
09:19 Baltic Dry Index as of December 1

2021 December 1

19:15 PortNews to hold Ship Repair, Modernization and Components Conference on 20 September 2022 in Saint-Petersburg
18:31 DP World celebrates 2,000 members of the Digital Freight Alliance
18:07 CMA CGM and Shell perform first Bio-LNG bunkering operation in Rotterdam
17:42 8 new fuel-efficient ships to join the X-Press Feeders fleet
17:26 Danish Smyril Lines Cargo starts second service between Iceland, the Faroe Islands and Rotterdam