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  • 2020 March 25 10:32

    MABUX: Bunker market this morning, Mar 25

    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 irregular changes on March 24:

    380 HSFO: USD/MT 258.95 (+0.10)
    VLSFO: USD/MT 329.00 (-1.00)
    MGO: USD/MT 416.83 (-2.36)


    Meantime, world oil indexes increased on Mar. 24 as the U.S. indicated the possibility of an alliance with Saudi Arabia to stabilize prices.

    Brent for May settlement increased by $0.12 to $27.15 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for May rose by $0.65 to $24.01 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $3.14 to WTI. Gasoil for April delivery increased by $17.25.

    Today morning oil indexes continue to rise after the American Petroleum Institute (API) reported a drop in the U.S. crude oil supply.

    According to the American Petroleum Institute U.S. oil inventories fell last week, by 1.25 million barrels. That is about 421,000 down the week before. U.S. distillate stockpiles fell by 1.9 million barrels, while gasoline dropped by 2.6 million barrels.

    U.S. Energy Secretary Dan Brouillette hinted on Mar.23 that a U.S.-Saudi oil alliance was one option to stabilize prices as the COVID-19 pandemic continues to shrink demand and the price war between Saudi Arabia and Russia shows no sign of abating.

    At the same time, oil indexes were also supported by steps by the U.S. Federal Reserve to bolster the economy and hopes the United States will soon reach a deal on a $2 trillion coronavirus aid package. The Fed rolled out an array of programmes including backing for the first time corporate bond purchases on Mar.23. U.S. Treasury Secretary Steven Mnuchin voiced confidence that a deal on the aid package would be reached soon. The expected stimulus pushed the U.S. dollar lower against other currencies. A weaker dollar tends to support the price of oil and other dollar-denominated commodities.

    Still, the oil prices are hit by the demand shock caused by the coronavirus outbreak and government restrictions to contain it, and the sudden removal of measures by OPEC and other nations to limit supply. British Prime Minister Boris Johnson ordered Britons on Mar.23 to stay at home to halt the spread of coronavirus, imposing curbs on everyday life without precedent in peacetime.

    Saudi Arabia now plans to boost exports, although flows have yet to increase in March. That means that global oil supply will rise significantly in the next two months

    Wood Mackenzie’s latest analysis reveals that China’s crude stock (including strategic and commercial petroleum reserves) could reach 1.15 billion barrels in 2020, equivalent to 83 days of oil demand. At the same time China is expected to continue importing crude to fill its reserves taking advantage of lower oil prices. But this time, China could build its crude reserves by up to 300,000 barrels per day (b/d) from March 2020 to the end of 2020, due to limitations in storage capacity, as storage capacity utilisation reaches 90% this year. This fill rate is also less than half of what we have seen in the last two years, hence providing less support to oil prices than usual this time

    We expect bunker prices to increase today: 1-3 USD up for IFO, 15-17 USD up for MGO.




2021 October 27

18:22 IMC Shipping appoints Mingfa Liu as managing director for ship services
18:07 TotalEnergies and MOL hold naming ceremony of France’s first LNG bunker vessel
17:51 Damen built LNG bunkering vessel enters service in the Gulf of Finland
17:42 Rosmorport takes delivery of LNG-powered Ro-Ro ship Marshal Rokossovsky
17:40 DEME Offshore installs final foundation at Hornsea Two offshore wind farm
17:34 Port of Zeebrugge posts a strong growth in nine months of 2021
15:40 Dublin Port volumes down by 3.3% after nine months of 2021
14:33 IMO considers midterm-measures for GHG reduction from ships
14:12 BIO-UV Group adds 3d scanning to turnkey BIO-SEA BWTS retrofit services
13:50 Ocean Yield agrees to invest in six VLCCs with 10-year bareboat charters to International Seaways
13:02 WinGD invests in training as gas-fuelled fleet grows
12:52 Vyborg Shipyard contracted to build an 18 MW icebreaker for Rosmorport
12:38 Zero emissions by 2050 is not enough for most developed countries if planetary warming is to be limited to 1.5 degrees - DNV
12:37 The LNG Fleet, LNG Bunkering and Other Alternatives Conference kicks off in Moscow
12:06 FESCO to supply Indian stations in Antarctica for another 5 years
11:51 Constructora Vale Verde places a repeat order for a cutter suction dredger with Damen Shipyards
11:19 MarineMax reports record fourth quarter and fiscal year results
11:18 FSRU Marshal Vasilevskiy completes maiden voyage with LNG cargo on the Northern Sea Route
10:09 Siemens Gamesa solidifies offshore presence in U.S. with Virginia blade facility
09:55 MABUX: No firm trend on Bunker market on Oct 27
09:33 Baltic Dry Index as of Oct 26
09:25 Aquadrill announces sale of a semisubmersible drilling unit
08:57 Oil prices edge lower

2021 October 26

18:06 FarSounder and NAVTOR announce a new partnership
17:49 Russian State Duma approves a bill on wrecks removal in the first reading
17:36 FuelEU can do more for the decarbonisation of shipping – World Shipping Council
17:08 First global hydrographic innovation and technology laboratory established in Singapore
16:31 BIO-UV Group adds 3D scanning to turnkey BIO-SEA BWTS retrofit services
16:24 Wärtsilä commits to carbon neutrality by 2030
16:05 CSL Americas takes delivery of second converted self-unloading ship
15:27 Damen Maaskant Shipyards Stellendam delivers 38-metre Beam Trawler to Rederij Long Ships
15:17 Vard Electro dual-battery pack to reduce emissions for Siem Offshore subsea vessel
15:01 Baltic Shipyard marks successful loading of shield tank duo onto the 22220 nuclear icebreaker Yakutia
14:13 BW Energy signs an agreement for the acquisition of semi-submersible drilling rig for the Kudu development
13:19 Wallem Group appoints John-Kaare Aune as new Chief Executive Officer
12:13 DP World: RWG terminal to be the first carbon neutral container terminal in the world
11:32 ClassNK grants Innovation Endorsement for Products & Solutions to Weathernews’s CIM
11:02 AIDA Cruises’ new cruise ship completes its first voyage on the river Ems
10:51 Sea Machines names Trevor Vieweg as new chief technology officer
10:14 TECO 2030 receives NOK 50 million in government support for fuel cell development
10:07 MABUX: Bunker prices may demonstrate irregular changes on Oct 26
09:54 Baltic Dry Index as of Oct 25
09:51 San Pedro Bay ports announce new measure to clear cargo
09:09 Oil prices continue to climb

2021 October 25

19:59 Severnaya Verf readies the 170701 series factory freezer trawler Kapitan Sokolov for shore power connection
18:13 CMA CGM applies Winter Surcharge in the Russian ports of St Petersburg, Bronka and Ust-Luga
17:44 Estonia’s Elenger takes delivery of first Damen LGC 6000 LNG bunkering vessel
17:34 Carnival Cruise Line christens Mardi Gras in first naming ceremony in the U.S. since industry restart
16:57 Sembcorp Marine clarifies report on the Johan Castberg Project
16:47 Two ways to experience the Fort Lauderdale Int'l Boat Show
15:23 Trafigura Group closes USD2.4 billion-equivalent syndicated revolving credit facility and term loan facilities
14:22 Sea Port of Saint Petersburg’s employees support package during COVID-19 pandemic
14:02 Svanehøj launches a new control system makes P&C offloading faster and easier
13:20 PIL launches new direct China to Gulf Service – Gulf China Service
12:15 Port of Hamburg honoured as ‘Best Seaport – Europe’
11:35 LR granted AiP to Samsung Heavy Industries for liquefied hydrogen carrier
11:12 Rosmorport updates Port of Ust-Luga data in the Register of Russia’s seaports
10:17 MABUX: Bunker prices may demonstrate upward changes on Oct 25
09:38 Russian Gov’t gives green light to imposing some port services tariffs in foreign currency
09:21 Baltic Dry Index as of Oct 22