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  • MABUX: Bunker market this morning, June 15
  • 2020 June 15 09:40

    MABUX: Bunker market this morning, June 15

    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 June 12:

    380 HSFO: USD/MT 279.07 (-7.57)
    VLSFO: USD/MT 328.00 (-7.00)
    MGO: USD/MT 399.50 (-8.79)


    Meantime, world oil indexes also demonstrated irregular changes on June, 12.

    Brent for August settlement increased by $0.18 to $38.73 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for July declined by $0.08 to $36.26 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $2.47 to WTI. Gasoil for July delivery added $5.75.

    Today morning oil indexes decline as new coronavirus infections hit China and the United States, raising the prospect that renewed outbreaks of the virus could weigh on the recovery of fuel demand.

    A cluster of infections in Beijing has increased concern of a resurgence of the disease. The coronavirus pandemic started at the end of last year in the Chinese city of Wuhan. At the same time, U.S. coronavirus cases started increasing. More than 25,000 new U.S. cases were reported on June, 14 alone as more states reported record new infections and hospitalizations. Additionally, U.S. crude stockpiles unexpectedly expanded last week to 538.1 million barrels, the highest level in data compiled by Bloomberg since 1982. The increase underlines the difficulty facing OPEC and its allies in their efforts to balance the market.

    The oil demand recovery is already expected to be a lengthy process, and a fresh wave of cases raises worries that a recovery in demand may take even longer than initially thought. Industrial output in China, the world's biggest crude oil importer, rose for a second consecutive month in May but the rise was smaller than expected, suggesting the world's second-biggest economy is struggling to get back on track after containing the coronavirus.

    OPEC-led monitoring panel will meet on June, 18 to discuss ongoing record production cuts and see whether countries have delivered their share of the reductions, but will not make any decision. OPEC+, have been reducing supplies by 9.7 million bpd, about 10% of pre-pandemic demand, and agreed in early June to extend the cuts for a month until end-July. The volatile oil market and the highly uncertain trajectory of global demand recovery has forced the OPEC+ group to have the JMMC hold meetings every month until the end of 2020. This panel, however, cannot decide OPEC+ group’s production policy, it can only make recommendations for consideration at the full OPEC and non-OPEC meetings.

    U.S. energy firms cut the number of oil and natural gas rigs operating to a record low for a sixth week in a row even as oil prices rebound from historic lows and some producers return to the wellhead. According to Baker Hughes Co, the U.S. oil and gas rig count, an early indicator of future output, fell by 5 to an all-time low of 279 last week. U.S. oil rigs fell by 7 to 199 this week, their lowest since June 2009, while gas rigs rose by 2 to 78. U.S. crude output is forecast to drop to 11.6 million barrels per day (bpd) in 2020 and 10.8 million bpd in 2021 from a 12.2 million bpd in 2019 according to the latest outlook of the U.S. Energy Information Administration (EIA).

    An Iranian news agency said on June, 13, that Iran’s naval forces were preparing to target U.S. commercial vessels in the Gulf last month in case U.S. forces interfered with Venezuela-bound Iranian oil tankers. Iran sent a flotilla of five tankers of fuel to gasoline-starved ally Venezuela in May, and Tehran has said it will continue the shipments if Caracas requests more, despite Washington’s criticism of the trade between the two nations, which are both under U.S. sanctions. Iran complained to the United Nations last month and summoned the Swiss ambassador in Tehran, who represents U.S. interests in the Islamic Republic, over possible measures Washington could take against the Iranian tankers. The United States, which did not hinder Iran’s tanker cargoes, is considering imposing sanctions on dozens of additional foreign oil tankers for trading with Venezuela.

    At the same time, Brazil’s Petroleo Brasileiro SA has told shippers it will not hire any tankers that have visited Venezuela in the past 12 months, signaling adherence to U.S. sanctions on the Latin American nation. The United States this year blacklisted oil tankers and shipping companies over their dealings with Venezuela, seeking to drain oil revenues that sustain the rule of Venezuelan President Nicolas Maduro. Washington said it could add to its sanctions list, a move that could disrupt sea-borne trade by sharply raising tanker rates.

    We expect bunker prices may demonstrate upward changes today: 1-3 USD up for IFO, 3-5 USD up 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%