• 2020 April 2 09:46

    MABUX: Bunker market this morning, Apr 02

    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 declined on April 01:

    380 HSFO: USD/MT 241.83 (-1.84)
    VLSFO: USD/MT 301.00 (-7.00)
    MGO: USD/MT 391.52 (-6.50)


    Meantime, world oil indexes demonstrated irregular changes on Apr. 01 as the coronavirus crushes demand amid a price war that has flooded the market with extra supply and shows no signs of ending

    Brent for June settlement increased by $2.00 to $24.74 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for May declined by $0.17 to $20.31 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $4.43 to WTI. Gasoil for April delivery fell by $21.00.

    Today morning oil indexes increase after U.S. President Donald Trump said he expected Saudi Arabia and Russia to reach a deal soon to end their oil price war.

    Trump talked recently with the leaders of both Russia and Saudi Arabia and believed the two countries would make a deal to end their price war within a "few days" - lowering production and bringing prices back up. He also said he would be meeting with oil executives, where he is expected to discuss a range of options to help the industry amid the sharp hit to demand as the coronavirus outbreak has hammered industrial activity and kept cars off the road.

    Speaking at a government meeting on Wednesday, Putin said that both oil producers and consumers should find a solution that would improve the "challenging" situation of global oil markets.

    The collapse in prices means global spending on oilfield equipment and services this year will fall 21% from 2019 to $211 billion, the lowest level since 2005. Still, there has been some upside from the collapse in prices as China has increased U.S. crude purchases with some buyers snapping up cargoes at the widest discounts ever as sellers seek to offload excess supplies in Asia. Cheap U.S. energy supplies will help China lower its import costs, but the deep discounts will add further pressure on U.S. producers to shut in production.

    At the same time, the world's biggest oil and gas companies are cutting spending this year following a collapse in oil prices driven by a slump in. Cuts already announced by eight major oil companies, including Saudi Aramco and Royal Dutch Shell, come to a combined a drop of 20% from their initial spending plan. BP cut its 2020 spending plan by 25% and will reduce output from its U.S. shale oil and gas business. Exxon Mobil Corp said it would cut capital expenditure but has not given specific figures yet. Brazilian oil company Petrobras said it was dialing back short-term production, delaying a dividend payment and trimming its 2020 investment plan. Some say if the current crisis is prolonged, the spending cuts announced by major oil companies may not be enough to let them maintain dividends without adding to their already elevated levels of debt.

    Saudi Arabia raised production above 12 million barrels a day on Apr.01, following through on threats it made in recent weeks. That’s about two million barrels a day more than a month ago. Also weighing on prices, OPEC failed to agree on whether to meet this month for an emergency discussion on recent volatility in oil markets. This signaled a widening rift between members and reduced the likelihood of supply cuts in the near future.

    According the Energy Information Administration (EIA), stockpiles of U.S. crude climbed much more than expected last week, day, indicated that Covid-19-related demand destruction is being reflected in inventories. Oil inventories rose by 13.8 million barrels last week. That compared with expectations for a build of about 4 million barrels. That was the biggest build in three years.

    We expect bunker prices to change irregularly today: 8-10 USD up for IFO, 15-10 USD down for MGO.




2020 June 2

13:02 DCSA establishes IoT standards for container connectivity
12:48 Bunker market sees mixed price movements at the Far East ports of Russia (graph)
12:26 Qatar Petroleum signs the largest LNG shipbuilding agreements in history to secure more than 100 ships valued in excess of QR 70 billion to cater for its LNG growth plans
12:00 Diana Shipping announces direct continuation of time charter contract for m/v Phaidra with Uniper
11:47 Research vessel of RF Navy's Baltic Fleet completed round-the-world route
11:22 Financial and operating results of FESCO Transportation Group for 2019
11:03 Ocean Network Express to extend the suspension of China-Australia service
10:29 “Zigh” Ship Repair and Construction Yard completes high-quality overhaul of “Nakhchivan” ferry vessel
09:58 Oil prices rise within $1
09:40 RS specifies requirements to roadster and harbor craft
09:23 MABUX: Bunker market this morning, June 02
09:12 Baltic Dry Index on June 1

2020 June 1

18:37 KIZAD breaks ground on largest rest, refuelling facility in region
18:21 Christophe de Margerie completes eastbound transit of NSR two months earlier than usual
18:13 Tallink Grupp to reroute its vessel Isabelle to operate on the Paldiski-Kapellskär route from 7 June 2020
18:07 ZIM starts eCommerce Xpress
17:52 Tallink to provide weekly sailings to Mariehamn in June and July 2020
17:29 Tallink adds more departures and additional vessel to Tallinn-Helsinki route
17:05 CMA CGM has announced FAK rates from North Europe to Mexico East Coast, USEC and USGULF & USWC
16:48 Throughput of port Azov in 5M’2020 fell by 9% YoY
16:30 Speakers announced for webinar “River fleet of the USA and Europe. What is useful for us or how do they make profit?”
16:05 MV Barracuda makes the first switch from dry cargo to jet fuel
15:26 Oil shipments via CPC Marine Terminal in 5M’20 climbed by 8.3% YoY
15:01 CMA CGM announces FAK rates from the Mediterranean to USEC, USGULF, Mexico East Coast and Canada East Coast
14:57 CANDEN Marine Fuel Services joins Glander International Bunkering Group
14:55 Average wholesale prices for М-100 HFO rose to RUB 6,641 in RF spot market
14:33 Northern Sea Route cargo traffic in 5M’2020 rose by 2.95%
14:10 Bollinger Quick Repair takes delivery of new dry-dock – “MR. Eddie”
13:52 Shuttle tanker Mikhail Ulyanov loads 200th crude oil cargo for Prirazlomnoye project
13:10 Neptune Energy welcomes DEME as a partner in the PosHYdon offshore green hydrogen pilot
12:46 Russian Railways' network loading fell by 4.5% in 5M’ 2020
12:10 Tanger Med partners with the initiative of the largest world ports to guarantee the continuity of international supply chains
11:57 Vladimir Putin approved a list of instructions following a meeting on transport sector development
11:31 CMA CGM ends PSS for exports from East Russia
11:05 Van Oord develops Green loan framework
10:30 CMA CGM announces PSS for Reefer Exports from Europe to West Africa (Nigeria excepted)
10:03 Oil prices decrease by about $1
09:46 Royal IHC to deliver design package and key components for new TSHD of Weeks Marine
09:42 Shipbuilding and Ship Repair Yard named after Lenin launched crane ship built for RF Navy
09:20 Baltic Dry Index on May 29
08:39 MABUX: Bunker market this morning, June 1

2020 May 31

16:57 RINA: shareholders’ meeting approves the financial statement for 31 December 2019 and appoints a new Board of Directors
15:31 Board appoints non-executive director at V.Group
14:48 MM&P seeks help from Congress in battle to repatriate offshore crews
13:24 Svitzer A/S names new CEO
12:31 Subsea 7 announces cost reduction measures
10:52 Drydocks World begins second project for the Hollandse Kust Zuid Windfarm

2020 May 30

16:23 APL England master faces charges over shipping container loss
15:27 Xeneta Container Rates alert: continued global uncertainty hits rates, but worst fears yet to be realised
14:32 EC approves €600 million Finnish guarantee scheme to support maritime companies affected by the coronavirus outbreak
13:12 Bollinger Quick Repair takes delivery of new dry-dock “Mr. Eddie”
11:47 Sanmar and Svitzer deliver power and performance to Port of Sohar
10:58 Coast Guard Cutter James seizes 3,350 lbs of marijuana off Central American

2020 May 29

18:36 Port of Marseille Fos to constuct a new international ferry terminal
18:20 Sea Port of Saint-Petersburg boosts its infrastructure investments by 40%
18:06 PIL starts a new India Service - China India Express (CIX)
17:51 Petrotrans takes delivery of lead ship of Project RSD59
17:36 Rolls-Royce seals major contract covering complete MTU propulsion systems for Royal Navy Type 31 frigates
17:14 United Shipbuilding Corporation developed its own cargo ship design
17:06 ECSA welcomes TRAN opinion on future EU-UK partnership and urges rapid advancement of the talks in view of the looming deadline