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  • MABUX: Bunker market this morning, Apr 20
  • 2020 April 20 08:57

    MABUX: Bunker market this morning, Apr 20

    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 slightly increased on April 17:

    380 HSFO: USD/MT 237.50 (+1.73)
    VLSFO: USD/MT 275.00 (+3.00)
    MGO: USD/MT 361.15 (+0.72)


    Meantime, world oil indexes demonstrated irregular changes on Apr. 17.

    Brent for June settlement increased by $0.26 to $28.08 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for May fell by $1.60 to $18.27 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $9.81 to WTI. Gasoil for May delivery added $4.50.

    Today morning oil indexes continue to slide down as producers continue to grapple with a supply glut.

    The market remain unconvinced that OPEC+’s cut of nearly 10 million barrels agreed to in early April will ease oversupply as countries continue to extend lockdowns imposed to prevent the spread of the COVID-19 pandemic, and economies contract. The output cut that supposed to see coming, isn’t sufficient to cover the 25 million to 30 million barrels of daily demand that’s being destroyed by Covid-19. There were also concerns that countries’ storage capacity is rapidly running out.

    U.S. benchmark, West Texas Intermediate, has fallen to the $15 range as global economies remain on lockdown due to the COVID-19 pandemic, crushing crude demand. To add insult to injury, global oil storage is reaching its limits. The situation is so dire, in fact, that the Department of Energy is even considering paying domestic oil producers to keep crude in the ground.

    At the same time, White House guidelines on reopening the U.S. economy and talk on what else oil titans Saudi Arabia and Russia could do for production cuts. The White House unveiled late on Apr.16 guidelines that governors of the 50 U.S. states could use in reopening businesses locked down for four weeks now in an attempt to control the Covid-19 outbreak that has infected more than 670,000 Americans and killed nearly 34,000 of them

    Saudi Arabia and Russia, meanwhile, were ready to do more to help stabilize the global oil markets. Alexander Novak and Abdulaziz bin Salman, energy ministers for Riyadh and Moscow, said in a joint statement that they will "continue to closely monitor the oil market and are prepared to take further measures jointly with OPEC+ and other producers if these are deemed necessary”.

    According to Baker Hughes, the U.S. oil rig count fell by 66 last week, indicating the massive production cuts undertaken by domestic oil drillers as crude prices hit near-19-year lows. Baker Hughes data showed oil rigs down to 438 last week from 504 the previous week (down 13%). Oil rigs are down by a total 245 since the week ended March 13, when there were 638 rigs. That constitutes a drop of more than 35%. The oil rig count, an early indicator of future output, is down 47% from the same week a year ago when 825 oil rigs were active.

    Analysts at Raymond James projected total U.S. oil and natural gas rigs would collapse from around 800 at the end of 2019 to a record low of around 400 by the middle of the year and around 200 at the end of 2020. The investment bank forecast the rig count would average a mere 225 rigs in 2021. That compares with the current all-time low of 404 rigs during the week ended May 20, 2016, according to Baker Hughes data going back to 1940. In Canada, meanwhile, the total oil and gas rig count fell to 30, the lowest since at least 2000.

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




2021 October 20

13:20 Port of Oakland sees no backlog on docks, calls for cargo
12:52 Japanese company Kubota chooses port of Rotterdam for Northern European distribution
12:39 Crowley participates in Saildrone Inc’s $100M Series C round to advance ocean intelligence products
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
15:13 Bollinger celebrates commissioning of 45th Fast Response Cutter USCGC Emlen Tunnel
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´
13:08 Port of Antwerp throughput up by 4.8% to 179.1% mln tonnes in Jan-Sept 2021
12:54 Cargo traffic via Khabarovsk Territory ports rose by 3% in 9M’21
12:33 Vitol’s V-Bunkers receives green ship awards from Maritime Port Authority of Singapore
12:15 The Methanol Institute welcomes the European Union’s package of proposals Fit for 55
11:36 Volga Shipping announces completion of three tankers conversion project
10:46 MABUX: Bunker prices may demonstrate multidirectional changes on Oct 19
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
17:29 Over 40 ships and boats of RF Navy's Black Sea Fleet took part in large-scale exercise at Opuk training ground in Crimea
16:52 Icebreaker Kapitan Khlebnikov to help deliver new components for the Vostok Station in the Antarctic
16:16 Throughput of Russian seaports in 9M’2021 climbed by 1.7% (detalization)
15:48 Four industry focused educational institutions to take part in 5th LNG Fleet, LNG Bunkering and Alternatives conference
15:25 Baltiysky Zavod shipyard casts forth one-piece propeller for Project MR-50 product tanker
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
13:00 Port of Ventspils throughput in January-September 2021 fell by 14% YoY
12:40 The Port of València will install a hydrogen supply station in January
12:36 Port of Helsinki throughput in January-September 2021 rose by 7.9% YoY
12:14 Port of HaminaKotka cargo turnover in 9M’2021 fell by 2.1%
11:29 Container throughput of Hong Kong port (China) in January-September 2021 rose by 0.1%
10:57 APM Terminals appoints new Head of Decarbonisation
10:48 Port of Liepaja throughput in 9M’2021 climbed by 8% Y-o-Y
10:25 Global Ports’ Consolidated Marine Container Throughput increased by 4.0% y-o-y in 9m 2021
09:53 MABUX: Bunker prices may rise on Oct 18