• 2020 June 29 09:16

    MABUX: Bunker market this morning, June 29

    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 increased on Jun. 26:

    380 HSFO: USD/MT 287.99 (+1.92)
    VLSFO: USD/MT 344.00 (+3.00)
    MGO: USD/MT 419.12 (+0.06)


    Meantime, world oil indexes demonstrated downward changes on Jun. 26 on fears of more economic disruptions as Covid-19's rampage continues to devastate the United States and the world.

    Brent for August settlement decreased by $0.03 to $41.02 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for August fell by $0.23 to $38.49 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $2.53 to WTI. Gasoil for July delivery fell by $5.50.

    Today morning oil indexes continue to decline as coronavirus cases rose in the United States and other places, leading countries to resume partial lockdowns that could hurt fuel demand.

    The new wave of coronavirus infections across the U.S. casts a new shadow over the outlook for demand in California, Texas and Florida, three of the most economically important U.S. states. Those states represent three of the four biggest regional centers of demand for motor fuel. Texas and Florida were both forced to suspend their plans for reopening their state economies on Jun.25 as the level of new Covid-19 infections hit a record. The United States reported more than 41,000 new cases on Jun.25, the second consecutive day with a record total, with health officials saying the true national caseload was probably 10 times the official count. These come as more than 2.4 million Americans have already been infected, with the death toll breaching 123,000.

    Global coronavirus cases exceeded 10 million on Sunday as India and Brazil battled outbreaks of over 10,000 cases daily. New outbreaks are reported in countries including China, New Zealand and Australia, prompting governments to impose restrictions again.

    Despite efforts by OPEC+ to reduce supplies, crude inventories in the United States, the world's largest oil producer and consumer, have hit all-time highs. Moreover, the U.S. crude output was estimated at 11 million barrels per day for the week ended June 19, versus 10.5 million bpd in the previous week. It was the first rise in U.S. production in 13 weeks. According to Baker Hughes, the number of active rigs in the United States decreased by 1 to 265 this week, down by 702 year on year. The number of active oil rigs reduced by 1 to 188. At the same time, there are fears, that higher oil prices are prompting some producers to resume drilling.

    Elsewhere, U.S. shale oil pioneer Chesapeake Energy Corp filed for bankruptcy protection on Jun.28 as it bowed to heavy debts and the impact of coronavirus outbreak on energy markets.

    As China imported its highest-ever volume of crude oil in May, its imports from the world’s top oil exporter, Saudi Arabia, nearly doubled to the highest on record after fuel demand recovered and refiners purchased crude at bargain prices in April. Chinese imports of crude oil from Saudi Arabia surged by 94.9 percent on the year and by 71 percent on the month in May, to reach 2.16 million barrels per day (bpd). Total crude oil imports into China surged to an all-time high of 11.34 million bpd in May. China smashed its crude oil imports record as manufacturing activity picked up and lockdowns eased. But refiners also took advantage of the cheapest crude in years in April to snap up cargoes for delivery in the following months. China didn’t import any oil from Venezuela in May, according to its customs data, while shipments from Iran also plummeted as buyers are steering clear of U.S. sanctions. Yet, shipping data suggests that China continues to receive crude from Venezuela, mostly through ship-to-ship transfers.

    We expect bunker prices may slightly decline today: 1-3 USD down for IFO, 3-5 USD down for MGO.




2024 March 29

13:40 HD KSOE and Infineon sign MoU to develop ship electrification technology
13:29 NYK and JMU formulate method for evaluating ship performance in actual seas
12:59 HD Hyundai wins US$463 mln warship order in Peru
12:09 COSCO SHIPPING Ports throughput up by 4.4% YoY to 135,808,554 TEU in 2023
11:46 The "Ane Maersk" calls at the Eurogate container terminal in Hamburg for the first time on its maiden voyage from Asia to Europe
11:20 Sallaum Lines and Fujian Mawei Shipbuilding commence construction of Ocean Class vessels
10:43 Oasis Marine develops solutions for offshore hydrogen bunkering
10:03 Petrofac secures contract extension with ONEgas West in the UK market

2024 March 28

18:05 Jan De Nul, ENGIE and Equans launch a pilot project centred around the use of Vanadium Redox Flow batteries
17:35 Latvian port equipment manufacturer Bleste introduces new bulk handling ‘bucket’
17:05 Investors upgrade Navios Maritime Partners
16:25 DEME reports 22% increase in the orderbook and a record-high turnover of 3.3 billion euros in 2023
16:14 MABUX: Bunker Outlook, Week 13, 2024
15:41 AD Ports Group announced the opening of Saadiyat Marina & Ferry Terminal and Rabdan Marina
15:11 Sydney invests $11.5 million in two new operational vessels designed by Incat Crowther
14:55 China’s Jinzhao wins Peru $405m port construction contract
14:13 APM Terminals Moín handled six million TEU
13:48 ClassNK grants Innovation Endorsements for Products & Solutions to two innovative initiatives by MOL
13:37 Konecranes launches its flagship Konecranes X-series industrial crane
12:53 United European Car Carriers UECC spearheads collaboration with industry leaders to advance CNSL as a sustainable marine fuel
12:26 Ocean Network Express announces Transpacific service
11:48 Yang Ming announces 2025 Trans-Pacific service network
11:24 Fincantieri signs contract for the supply of two PPAs to Indonesia
10:42 Maersk transported more than 660,000 TEU using clean fuel in 2023
10:23 Documentation delays push industry costs to $3bn
09:48 PONANT and FARWIND Energy partner to develop green hydrogen refueling solutions

2024 March 27

18:22 Bureau Veritas awards world’s first prototype certification for SolarDuck’s floating offshore solar solution
17:58 The recently converted Allseas's shallow water pipelay barge starts preparations for its first commercial project
17:38 The Port of Rotterdam calls on the European Commission and Parliament to focus on actively promoting green energy
15:23 SEFE to become sole shareholder of WIGA
14:53 Ocean Installer secures yet another SLM contract with Equinor
14:23 Cadeler signs offshore wind turbine installation contract for the vessel Wind Scylla
13:42 Carnival Cruise Line orders 5th Excel-class cruise ship
13:11 Maersk and MSC overcharging cargo owners for EU ETS, says T&E
12:52 The Port Authority of Valencia launches the ZAL project in the Port of Valencia
12:11 Clarkson Port Services and Peak Group collaborate to deliver Port Agency services across the North Sea
11:42 Wan Hai Lines holds ship naming ceremony for new vessels
11:24 Consolidated shipping lines EBIT loss was $1.44 billion in Q4 2023: Sea-Intelligence
10:49 Seaspan Shipyards receives long-term contracts for the pre-construction work of the the Canadian Coast Guard's first six multi-mission vessels
10:14 Woodside completes sale of 10% scarborough interest

2024 March 26

18:02 COSCO Shipping Lines introduces new Americas service
17:30 Davie awarded first contract for design of icebreaker fleet under Canada’s National Shipbuilding Strategy
17:04 Sanctions complicate Arctic LNG ship sales, Hanwha Ocean says - Bloomberg
16:57 Terntank places an order for 1+1 additional wind/ methanol-ready hybrid tanker
16:28 BW LNG completes acquisition of two TFDE vessels from Stena Bulk
15:50 Hanwha Ocean develops VR-based special vehicle simulator
15:20 TotalEnergies and SINOPEC join forces to produce sustainable jet fuel at a SINOPEC's refinery
14:52 Wärtsilä Lifecycle Agreement to guarantee operational reliability of new wind farm installation vessel
14:23 Hudong-Zhonghua launches two LNG carriers
13:51 Cargo ship hits Baltimore’s Key Bridge
13:12 Final sanctioned tanker with Russian Sokol oil to reach China port - Reuters
12:42 Adani Ports acquires 95% of Odisha's Gopalpur Port from SP Group for $162 million
12:21 IHI and Yara Clean Ammonia agree to jointly assess clean ammonia business collaboration
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11:16 Wartsila and Royal Caribbean Group celebrate 15 years of collaboration on digital transformation
10:46 A global carbon tax on shipping is coming, says ABS Chairman and CEO
10:21 Eni, Fincantieri and RINA establish partnership for maritime transport decarbonization

2024 March 25

18:07 The Maritime and Port Authority of Singapore continues to investigate reports of oil spills off the port of Tuas
17:31 “K” Line, NIPPON HAKUYO and OPT Gate sign an agreement for a new fire detection system for car carriers
17:07 Greek merchant fleet recorded slight decline in January 2024
16:47 Hanwha Ocean Plans to develop green technology and naval ships
16:25 U-Ming Singapore and ITOCHU sign milestone MoU for the joint development of ammonia dual-fuel and de-carbonized vessels
15:34 Svitzer targets methanol-fuelled MAN 175DF-M engine for tug application
15:04 Wallenius Wilhelmsen signs contracts for four 9,300 CEU vessels with China Merchants Jinling Shipyard
14:40 Taiwan International Port to upgrade terminal facility at Kaohsiung
13:59 Сruise ship Carnival Freedom catches fire near Bahamas
12:59 Hanwha Ocean wins 2.4 tln-won order for 8 LNG ships
11:16 Inland Ports meet in Paris to talk about the innovation potential of inland ports
10:50 IMO agrees possible outline for maritime “net-zero framework”
10:24 Hapag-Lloyd to continue to avoid the Red Sea route