• 2020 July 1 10:33

    MABUX: Bunker market this morning, July 01

    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 June 30:

    380 HSFO: USD/MT 288.36 (+3.36)
    VLSFO: USD/MT 342.00 (+3.00)
    MGO: USD/MT 415.27 (+3.94)


    Meantime, world oil indexes demonstrated irregular changes on June 30.

    Brent for September settlement decreased by $0.56 to $41.15 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for August fell by $0.43 to $39.27 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $1.88 to WTI. Gasoil for July delivery added $4.25.

    Today morning oil indexes increase after data showed crude inventories in the United States fell much more than expected, suggesting demand is improving even as the coronavirus outbreak spreads around the world.

    According to the American Petroleum Institute (API), crude inventories dropped by 8.2 million barrels to 537 million barrels, against forecasts for a draw of 710,000 barrels. Official inventory data from the U.S. government's Energy Information Administration is due out later today.

    Also supporting prices was a drop in output from OPEC to the lowest in two decades in June. The 13-member grouping produced an average of 22.62 million barrels per day (bpd) in June after they agreed to cut output. It is down 1.92 million bpd from May's revised figure. The fall in output means that OPEC over-complied with the deal in June, with compliance coming in at 107%. The over-compliance is the result of additional cuts by Saudi Arabia, the United Arab Emirates and Kuwait. Those producers agreed to more cuts during June than other OPEC members. It is likely that compliance will slip again in July, unless Iraq and Nigeria will demonstrate a significant improvement in compliance.

    At the same time, both Saudi Aramco and the UAE’s national oil company were looking at raising their official selling prices for August, something that reflects confidence that the physical market will have returned to balance by then.

    Prices for later this year are likely to be capped, as the world is awash with oil after the coronavirus caused demand for fuel to drop by around a third. Reuters indicated that oil prices will consolidate at around $40 a barrel this year, with a recovery potentially picking up in the fourth quarter. The coronavirus continues to spread around the world with ever increasing rates of infection. Cases now total more than 10 million with more than half a million people dying after catching COVID-19.

    The outlook for demand has been clouded further in the U.S. by the reintroduction of more restrictive public health measures in parts of the country. Various counties in California and Florida have closed their beaches for the July 4 weekend due to the sharp rise in new infections of Covid-19 over the last two weeks. The states of Kansas and Oregon, meanwhile, have imposed a requirement to wear masks in indoor public spaces.

    Oil prices were also pressured by reports that Libya may soon be able to resume crude exports, after a hiatus of six months caused by the country’s civil war. Libya’s national oil company had complained last week about Russian mercenaries blockading its biggest field.

    We expect bunker prices may demonstrate irregular changes today: 1-3 USD down for IFO, 2-4 USD up for MGO.




2020 August 12

18:57 Risavika LNG index for September up by 8.9 % week on week
18:27 Andreas Rieckhof new Chairman of Hamburg Messe und Congress GmbH Supervisory Board
18:08 At the three Hamburg container terminals throughput volume down 12.0 % in H1 2020
18:07 Sri Lanka Ports Authority assures safe handling of dangerous cargo under UN regulations
17:47 Rosmorport’s Azov-Black Sea branch adds TSHD Sommers to its fleet
17:43 Boluda Towage Europe takes on two new tugs from Damen Shipyards Group
16:49 Investors set to inject in excess of RUB 19 bn in federal port infrastructure facilities development
15:44 MoD eyes placing more orders for the Steregushchiy class corvettes with Amur Shipyard
15:17 Joint R&D Starts for Use of Ammonia in Marine Transportation to Reduce GHG Emissions
14:47 CMA CGM announces PSS from Asia to North Europe
14:21 MST wins contract for building 19m high-speed patrol craft duo for the Royal Navy
14:03 MOL issues an update on the Capesize bulker "Wakashio" aground off Mauritius
13:20 Port of Kiel constructs the new port apron
12:01 THE Alliance announces COVID-19 response measures for September 2020
11:57 Northern Sea Shipping acquires the MV Siyaniye Severa
10:36 LNG vessel completes 10,000th Neopanamax transit at the Panama Canal
10:02 Crude futures prices continue upward trend
09:32 Baltic Dry Index as of Aug 11
09:00 MABUX: Bunker market this morning, Aug 12

2020 August 11

18:07 Saigon Newport chooses Kalmar Essential Terminal Tractor for Cat Lai Terminal
17:43 Global Industry Alliance developes Just In Time Arrival Guide
17:36 Maersk Tankers hires Eva Birgitte Bisgaard as its new Chief Commercial Officer
17:00 CMA CGM announces PSS from Asia to North Europe
16:35 NORDEN adds 2 vessels to the existing newbuilding contract with NACKS
16:22 Murmansk Sea Fishing Port’s handled volumes in Jan-Jul dropped 12.7%
15:34 PETRONAS Research joins FASTsubsea’s subsea pump development
15:18 SCF Group's Igor Tonkovidov: Shipowners’ ability to compete with each other will be increasingly determined by their readiness to adopt advanced technologies
14:03 Houlder wins contract for Isle of Man Steam Packet Company’s new purpose-built vessel
13:39 IMO assists in MV Wakashio oil spill response
13:11 Cameron LNG Train 3 begins commercial operation
12:56 Seven-month crude exports via CPC Marine Terminal fell 1.4%
12:29 Port of St. Peterburg Captain releases new allowable drafts in Greater Port St.Petersburg basin
12:05 The Standard Club issues Guidelines for the use of electronic record books (ERBs) under MARPOL
11:08 Port of Ust-Luga based Multipurpose Reloading Complex steps up its efforts to protect the environment
11:04 Transhipment in North Sea Canal ports down by more than 10 percent due to coronavirus crisis
10:31 CSP Abu Dhabi Terminal launches new direct services to Europe and Indian Subcontinent
10:15 MABUX: Bunker market this morning, Aug 11
09:54 Crude futures prices extend upward trend
09:33 Baltic Dry Index as of Aug 10
09:08 Average spot market price for Russian M100 product soars to 11,582 rub/mt

2020 August 10

17:20 HMM joins forces with CMA CGM on TTI Algeciras operation
17:19 Commercial Port of Vladivostok's seven-month container volumes rose 8.1%
17:12 APM Terminals to acquire ALC´s container terminal in Aarhus
17:06 IMO sets remote meeting plan for September-December 2020
16:57 Capesize bulker “Wakashio” aground off Mauritius
16:47 Freight traffic at Russian seaports in Jan-Jul fell 2.1%
15:58 Seven-month coal throughput at Port Vysotsky falls 7.5%
14:27 Vostochnaya Verf launches Grachonok-class anti-saboteur boat (Project 21980) for Pacific Fleet
13:28 ONEGO Shipyard launches a self-propelled hopper barge "Morskaya"
13:22 IMO report on GHG finds a decoupling between trade and emissions in shipping
12:20 Anders Opedal taking over as president and CEO of Equinor from 2 November 2020
10:21 Diana Shipping announces time charter contract for m/v Melia with Ausca
10:17 Containerships and APM Terminals Gijon form eco-friendly intermodal solution connecting Spain, UK and Ireland
09:31 Crude futures prices take upward trend
09:06 Baltic Dry Index as of Aug 7
08:58 MABUX: Bunker market this morning, Aug10

2020 August 9

16:21 MPA launches six next-generation patrol craft to grow its frontline capabilities
15:35 Fincantieri Bay Shipbuilding prepares for Navy frigate work
14:03 NCLH reports Q2, 2020 financial results
13:27 USCG Cutter Legare offloads nearly 5,000 lbs. of cocaine, marijuana