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  • 2020 April 29 09:28

    MABUX: Bunker market this morning, Apr 29

    The Bunker Review 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 continued to decline on Apr. 28:

    380 HSFO: USD/MT 201.88 (-6.23)
    VLSFO: USD/MT 226.00 (-9.00)
    MGO: USD/MT 307.27 (-7.68)


    Meantime, world oil indexes demonstrated slight irregular changes on Apr. 28.

    Brent for June settlement increased by $0.47 to $20    .46 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for June fell by $0.44 to $12.34 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $8.12 to WTI. Gasoil for May delivery increased by $0.75.

    Today morning oil indexes rise after U.S. stockpiles rose less than expected and on expectations demand will increase as some European countries and U.S. cities moved to ease coronavirus lockdowns.

    Hopes for at least some demand recovery put a floor under oil prices, following two days of selling in June contracts by exchange-traded funds looking to avoid the extreme volatility which hit WTI last week. That, because of plans for removing COVID restrictions, particularly in Europe - in countries likes Spain, France, Austria and Switzerland.

    At the same time, on April 27, the United States Oil Fund, said it would sell off all its contracts for June delivery, replacing them with longer-term contracts. In addition, S&P Global is reported to have told clients to roll all their exposure out of WTI June futures and into July with immediate effect. This unscheduled roll is being implemented based on the potential for the June 2020 WTI crude oil contract to price at or below zero as well as the steady decline in open interest for the June 2020 contract. Some are wary that WTI futures could repeat last week’s fall into negative territory when its June contract expires on May 19, with no real signs of a recovery in demand and storage space fast running out.

    According to the American Petroleum Institute, U.S. crude inventories rose by 10 million barrels to 510 million barrels in the week to April 24, compared with expectations for a build of 10.6 million barrels. The U.S. Energy Information Administration releases weekly data later today. While storage is rapidly filling up, production cuts by U.S. shale producers, estimated by consultants Rystad Energy at 300,000 barrels per day (bpd) for May and June, should help slow flows into tanks. Regulators in the U.S. state of Texas, the country's biggest oil producer, will hold a vote on May 5 on whether to enact output curtailments. Officials in the states of North Dakota and Oklahoma are also examining ways to legally allow output cuts.

    Russian Energy Minister Alexander Novak said on Apr.28 oil markets would start balancing out once an output deal takes effect in May while no significant rise in prices is likely in the near future due to high levels of global storage.

    Argus reported on Apr.28 that OPEC member Nigeria has set its official prices for May at discounts of more than $5 a barrel to prompt North Sea cargoes, partly because it lacks onshore storage to wait out better times. At current levels, that would imply much of its oil will sell for less than $10.
    Credit rating agency Moody's cut its oil price assumptions on Apr.28, seeing WTI averaging $30 a barrel in 2020 and $35 in 2021, because of a global recession weighing on fuel demand and said it expected ample oil supply in storage to keep prices low through 2021.

    We expect bunker prices may rise slightly today: 1-3 USD up for IFO, 1-3 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
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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
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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