• 2020 May 22 10:27

    MABUX: Bunker market this morning, May, 22

    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 continued upward trend on May, 21:

    380 HSFO - USD/MT - 256.20 (+7.12)

    VLSFO - USD/MT – 301.00 (+9.00)

    MGO - USD/MT – 368.79 (+7.66)

    Meantime, world oil indexes demonstrated slight irregular changes on May, 21.

    Brent for July settlement increased by $0.31 to $36.06 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for July rose by $0.43 to $33.92 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $2.14 to WTI. Gasoil for June delivery declined by $3.00.

    Today morning oil indexes decrease after China's decision to omit an economic growth target for 2020 renewed concerns that the fallout from the coronavirus pandemic will continue to depress fuel demand in the world's second-largest oil user.

    China's National People's Congress (NPC) kicked off a week-long meeting on May,22 with the government saying it omitted the 2020 target, while pledging to issue 1 trillion yuan ($140 billion) of special treasury bonds to support companies and regions hit by the pandemic. Abandoning the growth target can point to putting less focus on infrastructure investment and could be viewed as negative for oil.

    At the same time, the fuel demand is recovering as countries ease business and social restrictions imposed to counter the coronavirus pandemic. Gasoline demand is returning with traffic congestion in some of the world's capitals recovering to year-earlier levels after the lifting of coronavirus. Traffic flows in Berlin and Tokyo have rebounded, according to the data, while in the United States the easing of restrictions in many states has supported demand for gasoline. The upcoming Memorial Day holiday weekend typically kicks off the U.S. summer driving season.

    U.S. drillers are in the process of cutting 1.75 million barrels a day of existing production by early June. That’s on top of OPEC+’s agreement to curb almost 10 million barrels a day of output, which is being strictly adhered to after taking effect at the start of May. The cuts are eroding the stockpiles built up amid coronavirus lockdowns and the price war, with inventories at the U.S. storage hub at Cushing, Oklahoma, shrinking by the most on record last week. Meanwhile, demand in China, the world’s biggest crude importer, is almost back to pre-virus levels, while economic activity is starting to recover in parts of Europe and North America.

    However, crude oil demand in India will take longer to recover than many hope for as the country braces for the worst recession in its history after a two-month lockdown. The demand for the commodity might take until the end of the year to return to pre-crisis levels after last month, fuel demand at one point dropped by as much as 70 percent. Still, most of the demand will return before the end of the year.

    At the same time, despite the low oil demand during the COVID-19 outbreak in China, the world’s top oil importer is set to increase its crude oil imports by 2 percent in 2020. China’s apparent crude oil consumption is expected to increase by between 1 percent and 2 percent year on year. However, demand for refined oil products in China is forecast to record its first drop in two decades, as it is expected to fall by 5 percent this year compared to last year.

    According to Goldman Sachs Group Inc, The oil industry will enter a structural phase of no production growth outside of OPEC starting next year. OPEC may be required to supply as much as an additional 7 million barrels a day through to 2025 from pre-virus levels, while U.S. shale will emerge from the current slump as a lower growth and more cash generative industry.

    We expect bunker prices may demonstrate irregular changes today: 1-3 USD up for IFO, 1-3 USD down for MGO.


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
16:15 Port Authorities pledging support to keep ports open during COVID-19 more than doubles within a month
15:52 Market of seaborne cargo transportation for wind farms is stable and expected to grow
15:46 Viking Line starts a passenger service from June 1
15:05 KiwiRail orders two new ferries
14:49 Admiral Makarov University introduced new GMDSS simulator class
14:05 Bollinger Shipyards delivers the USCGC MYRTLE HAZARD to the U.S. Coast Guard
13:41 Smart Delta Resources launches project to substantially reduce CO2 emissions in Scheldt-Delta region
13:09 Record engine powers world’s largest containership
12:48 Large amphibious ships of RF Navy's Black Sea Fleet conducted comprehensive exercise in sea training ground
12:30 Navigation season opens on Upper Lena and Lower Lena rivers
12:09 Global shipping body addresses the health concerns of seafarers during the COVID-19 pandemic
11:26 Vimpel Shipyard launches coast guard boat Lamantin of river-going design