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  • 2020 April 8 09:53

    MABUX: Bunker market this morning, Apr 08

    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 decreased on April 07:

    380 HSFO: USD/MT 252.51 (-3.04)
    VLSFO: USD/MT 304.00 (-3.00)
    MGO: USD/MT 392.80 (-2.44)


    Meantime, world oil indexes demonstrated irregular changes on Apr. 07 amid concerns, that any production cuts will be enough to rescue a market facing a potential demand loss of 20 million to 30 million barrels per day due to the coronavirus pandemic.

    Brent for June settlement decreased by $1.18 to $31.87 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for May fell by $2.45 to $23.63 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $8.24 to WTI. Gasoil for April delivery added $4.25.

    Today morning oil indexes rise hopes that a meeting between OPEC members and allied producers on Apr.09 will trigger output cuts to shore up prices.

    Oil indexes were supported on initial optimism that OPEC+-G20 meetings later this week will take a total of 10 million bpd from the market. That would be the steepest coordinated production cuts in oil’s history and could include unprecedented participation from Brazil and Canada.

    Russia would like to cut a nominal 0.5-1 million bpd according to reports. At the same time, the U.S. says its production has already fallen by about 2 million bpd over the past month. President Donald Trump said OPEC had not pressed him at all in terms of production cuts. The Saudis haven’t officially committed to any volume of cuts yet. Some say, that the global coordinated production cuts that are really needed may be too large for the producers to accept; perhaps twice as large as the numbers being discussed.

    Russia confirmed its participation in the meeting of leading oil producers set for April 9, joining Saudi Arabia and the rest of the OPEC members. That's set to be followed on Apr.10 by a meeting of G20 energy ministers, which will include representatives of two other large producers outside the OPEC+ bloc, Canada and Brazil, in addition to the U.S.

    The official data released by the Energy Information Administration on Apr.07 forecasts, that U.S. crude oil production will average 11.8 million b/d in 2020 from the current weekly estimate 13 million bpd.

    Much will also depend on what role the U.S. plays in any potential production cuts. The OPEC+ group has been curtailing production in recent years while U.S. producers have increased their own output, resulting in the U.S. becoming the world's largest crude producer.

    According to the American Petroleum Institute, U.S. oil inventories jumped again last week by 11.9 million barrels this time. The strong rise is not surprising given the demand destruction seen from the Covid-19 pandemic. The Energy Information Administration will report official government figures tomorrow, with analysts looking for a rise of about 9.3 million barrels in crude inventories.

    We expect bunker prices to change irregularly today: 3-5 USD down for IFO, 2-4 USD up for MGO.




2021 October 20

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12:02 Global Ports terminal In Helsinki increases number of container services
11:54 Port Houston container volumes up 11% to 281,500 TEUs in September 2021
11:40 Sibanthracite Group acknowledged as best supplier of coal to China for second consecutive year
11:16 MPA and DMU signed MoU to drive talent and academic exchange in the maritime sector
10:51 Mitsubishi Shipbuilding successfully separates and captures CO2 from exhaust gas in world’s first marine-based CO2 capture system project
10:28 Modernization of border checkpoint completed in Kavkaz seaport
10:06 RF President gives instructions on permanent environmental monitoring in areas of handling dry bulk cargo and cargo emitting dust
09:45 MABUX: No firm price trend on Bunker market on Oct 20
09:35 Crude oil prices decrease on US reserves growth
09:19 Baltic Dry Index as of October 19

2021 October 19

18:24 Ocean Yield ASA sells two LR2 tankers
17:44 Klaveness Combination Carriers sells a 21-years old CABU vessel
17:22 Oboronlogistics delivers cargo for the construction of a cultural cluster in Kaliningrad
16:58 North Sea Port, Zeeland Regional Safety Board and Central Fire Response Zone join forces for cross-border incident response in the port area
16:35 European shipowners support the uptake of clean fuels but fear FuelEU may become missed opportunity due to enforcement loopholes - ECSA
16:20 9M’2020 throughput of Taganrog Sea Commercial Port grew by 6% Y-o-Y
16:05 Fuelling the Industry: LNG as a fuel and its infrastructure at the 8th International Congress
16:04 Empire Offshore Wind selects Vestas as its preferred supplier for wind turbine generators for Empire Wind I and Empire Wind II
15:41 The decarbonization strategy likely is now the best business strategy for shipowners - ABS
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14:51 RF Government and Rosatom instructed to organize regular transportation of transit cargo by NSR
14:30 Port of Rotterdam throughput rises substantially again in Q3 2021
14:03 Valenciaport throughput up 8.33% to 63.46 mln tonnes in Jan-Sept 2021
14:02 Ice restrictions in Port of Sabetta basin to be effective as of Oct 25
13:39 TGE Marine announces the successful gas trail of LNG bunker vessel ´Dmitry Mendeleev´
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10:11 Russian Gas Society supports 5th LNG Fleet, LNG Bunkering and Alternatives conference
10:09 Berenberg expands debt fund portfolio with two new multi-investor funds
09:46 Baltic Dry Index as of October 18
09:25 Crude oil prices rise on crisis anticipation
09:13 Roxtec selects Sustainable Marine Fuels

2021 October 18

18:07 OneOcean Group brings voyage optimisation solutions to Marlink Partner Programme
17:53 NOVATEK held its first Arctic LNG Projects Shipowners Conference
17:49 MOL tabletop drill prepares for serious marine accident
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16:52 Icebreaker Kapitan Khlebnikov to help deliver new components for the Vostok Station in the Antarctic
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15:48 Four industry focused educational institutions to take part in 5th LNG Fleet, LNG Bunkering and Alternatives conference
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15:03 Nemport orders fleet of Konecranes Noell RTGs
14:13 Average spot market price for Russian M100 product rose to RUB 29,186 pmt
13:51 MOL, MAN ES and MES-M sign MoU aiming to order ammonia fueled main engine for ships
13:42 National Chamber of Engineers supports 5th LNG Fleet, LNG Bunkering and Alternatives conference as its Media Partner
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12:40 The Port of València will install a hydrogen supply station in January
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