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  • MABUX: Bunker market this morning, May 14
  • 2020 May 14 09:01

    MABUX: Bunker market this morning, May 14

    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 slight irregular changes on May 13:

    380 HSFO: USD/MT 228.89 (-0.57)
    VLSFO: USD/MT 260.00 (0.00)
    MGO: USD/MT 328.89 (+4.45)

    Meantime, world oil indexes declined on May, 13 amid worries that a potential second wave of the coronavirus pandemic might trigger fresh lockdowns and slam fuel demand once again.

    Brent for July settlement decreased by $0.79 to $29.19 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for June declined by $0.49 to $25.29 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $3.90 to WTI. Gasoil for May delivery fell by $4.75.

    Today morning oil indexes continue to decline.

    The market ignored the U.S. Energy Information Administration's report of a surprise drop in crude stockpiles for last week and a larger-than-expected drawdown in gasoline to focus on Federal Reserve Chairman Jay Powell’s dour assessment of the coronavirus-struck economy.  Powell warned of a protracted road to recovery for the economy at a time when many are concerned that reopening too quickly could trigger a second wave of Covid-19 infections. Oil indexes were also pressured by the words of White House infectious diseases specialist Dr. Anthony Fauci, who said that U.S. states shouldn’t be rushing to reopen their economies from Covid-19 lockdowns without ticking enough boxes on the medical guidelines given to them.

    While the futures move up, physical surplus oil continues to flow into tanks and the path of demand recovery remains highly uncertain. New North Sea loadings, which help set the price of ICE Brent futures, still face a quiet market.

    At the same time, according to EIA, stockpiles of U.S. crude saw an unexpected drop last week, greatly easing worries that the United States will run out of space soon to store oil being produced within the country. Crude inventories fell by 745,000 barrels for the week ended May 8, the EIA said. That compared with expectations for a build of about 4.15 million barrels. That was the first decline in U.S. crude stockpiles since the end of January.

    Separately, crude stockpiles also fell 3 million barrels at the Cushing, holding center for oil delivered against expiring contracts of WTI. Cushing stockpiles were growing as fast as 5 million barrels per week in recent weeks, triggering speculation that the 76-million-barrel capacity hub would run out of space before the end of this month. Fears of a Cushing max-out were what drove WTI futures to their first ever negative pricing in late April.

    U.S. oil production fell by 300,000 barrels per day last week, bringing to 1.5 million bpd the total decline since output hit a record high of 13.1 million bpd in mid-March.

    OPEC slashed its forecast on May, 13 for global oil demand this year and predicted this quarter would see the steepest decline even as some countries ease lockdown measures designed to stem the coronavirus outbreak. The Organization now expects global demand to decline by 9.07 million barrels per day (bpd), or 9.1%, in 2020. Last month, OPEC expected a drop of 6.85 million bpd. OPEC expects this quarter to see the biggest drop in demand and lowered its demand forecast for the second quarter by 5.4 million bpd. Downside risks remain for consumption in the United States, Europe and South Korea.

    Oil prices have collapsed as government lockdowns curtailed travel and economic activity, tipping countries into recession. While some places in Europe and Asia have eased restrictions, concern of new virus outbreaks has kept a lid on oil prices. To tackle the drop in demand, OPEC and its allies agreed to a record supply cut that started on May 1, while the United States and other nations said they would pump less. OPEC said these curbs were already helping.

    We expect bunker prices may demonstrate slight downward changes today: 3-5 USD down for IFO, 2-4 USD down for MGO.

2021 October 20

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
09:46 Northern Sea Route cargo traffic rose by 4.5%