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  • MABUX: Bunker market this morning, July 02
  • 2020 July 2 09:28

    MABUX: Bunker market this morning, July 02

    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) rose slightly on July 01:

    380 HSFO: USD/MT 288.69 (+0.33)
    VLSFO: USD/MT 345.00 (+3.00)
    MGO: USD/MT 417.94 (+2.67)


    Meantime, world oil indexes also increased on Jul.01, following a drawdown in U.S. crude inventories from record highs and a string of positive manufacturing data.

    Brent for September settlement increased by $0.88 to $42.03 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for August delivery rose by $0.55 to $39.82 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $2.21 to WTI. Gasoil for July delivery gained $5.25 – $357.50.

    Today morning global oil indexes do not have any firm trend so far and change sideways.

    Crude oil inventories in the United States shed 7.2 million barrels in the week to June 26. Forecasts had expected an inventory decline of 710,000 barrels for the period, and the American Petroleum Institute had estimated a sizeable inventory draw, to the tune of 8.156 million barrels, the largest inventory draw so far this year. For the previous week, the EIA reported an inventory build, at 1.4 million barrels, after another moderate build, of 1.2 million bpd, for the week before. Oil inventories remain above the five-year average for this time of the year, but refinery runs for the past few weeks suggest demand for fuels is increasing, albeit slowly.

    Reuters poll shows oil prices are unlikely to jump too much this year despite the OPEC+ production cuts as the economic and oil demand recovery are set to pick up steam only in the fourth quarter. Meanwhile, a second wave of coronavirus cases could dampen the global economic and oil demand recovery if countries and U.S. states backtrack some of the eased measures. Still, it is difficult to justify significant upside in prices in the near term due to the high levels of inventory, continued weakness in refinery margins, and the fear over a severe second wave of Covid-19. Most probably the market will continue to consolidate around current levels.

    Sentiment was also boosted by improving economic data around the world. In China, the manufacturing purchasing managers’ index (PMI) showed factories slowly gathered steam in June after the government eased lockdowns. Germany’s manufacturing sector contracted at a slower pace in June, while French factory activity rebounded into growth. However, a surge in infections in the United States and warning from the government’s top infectious disease expert that the number could soon double is still the potential downward driver.

    The U.S. job-shedding in May and June had not been as severe as feared and bolstered confidence in the resilience of U.S. demand. Private payrolls processor ADP said the U.S. private sector added 2.369 million jobs last month. While that was below expectations, the company also sharply revised down its estimate of job losses in May, leaving the net job count, on balance, higher than assumed.

    It is expected, fuel demand in India, the world’s third-largest oil importer and third-largest oil consumer, is set to rebound to pre-crisis levels by the end of September. The statistics shows demand for gasoline, diesel, liquefied petroleum gas (LPG), and other commercial fuels is coming back to its normal level, while jet fuel demand continues to be a drag on overall demand – as it is everywhere in the world. As demand recovers, India’s refinery capacity utilization picked up in May to an average of 77 percent after India started to ease the nationwide lockdown. Refinery throughput increased by 11 percent in May compared to April.

    We expect 380 HSFO bunker prices may slightly rise by 3-5 USD today, VLSFO – add 4-6 USD, MGO prices may gain 3-5 USD.




2021 October 27

18:22 IMC Shipping appoints Mingfa Liu as managing director for ship services
18:07 TotalEnergies and MOL hold naming ceremony of France’s first LNG bunker vessel
17:51 Damen built LNG bunkering vessel enters service in the Gulf of Finland
17:42 Rosmorport takes delivery of LNG-powered Ro-Ro ship Marshal Rokossovsky
17:40 DEME Offshore installs final foundation at Hornsea Two offshore wind farm
17:34 Port of Zeebrugge posts a strong growth in nine months of 2021
15:40 Dublin Port volumes down by 3.3% after nine months of 2021
14:33 IMO considers midterm-measures for GHG reduction from ships
14:12 BIO-UV Group adds 3d scanning to turnkey BIO-SEA BWTS retrofit services
13:50 Ocean Yield agrees to invest in six VLCCs with 10-year bareboat charters to International Seaways
13:02 WinGD invests in training as gas-fuelled fleet grows
12:52 Vyborg Shipyard contracted to build an 18 MW icebreaker for Rosmorport
12:38 Zero emissions by 2050 is not enough for most developed countries if planetary warming is to be limited to 1.5 degrees - DNV
12:37 The LNG Fleet, LNG Bunkering and Other Alternatives Conference kicks off in Moscow
12:06 FESCO to supply Indian stations in Antarctica for another 5 years
11:51 Constructora Vale Verde places a repeat order for a cutter suction dredger with Damen Shipyards
11:19 MarineMax reports record fourth quarter and fiscal year results
11:18 FSRU Marshal Vasilevskiy completes maiden voyage with LNG cargo on the Northern Sea Route
10:09 Siemens Gamesa solidifies offshore presence in U.S. with Virginia blade facility
09:55 MABUX: No firm trend on Bunker market on Oct 27
09:33 Baltic Dry Index as of Oct 26
09:25 Aquadrill announces sale of a semisubmersible drilling unit
08:57 Oil prices edge lower

2021 October 26

18:06 FarSounder and NAVTOR announce a new partnership
17:49 Russian State Duma approves a bill on wrecks removal in the first reading
17:36 FuelEU can do more for the decarbonisation of shipping – World Shipping Council
17:08 First global hydrographic innovation and technology laboratory established in Singapore
16:31 BIO-UV Group adds 3D scanning to turnkey BIO-SEA BWTS retrofit services
16:24 Wärtsilä commits to carbon neutrality by 2030
16:05 CSL Americas takes delivery of second converted self-unloading ship
15:27 Damen Maaskant Shipyards Stellendam delivers 38-metre Beam Trawler to Rederij Long Ships
15:17 Vard Electro dual-battery pack to reduce emissions for Siem Offshore subsea vessel
15:01 Baltic Shipyard marks successful loading of shield tank duo onto the 22220 nuclear icebreaker Yakutia
14:13 BW Energy signs an agreement for the acquisition of semi-submersible drilling rig for the Kudu development
13:19 Wallem Group appoints John-Kaare Aune as new Chief Executive Officer
12:13 DP World: RWG terminal to be the first carbon neutral container terminal in the world
11:32 ClassNK grants Innovation Endorsement for Products & Solutions to Weathernews’s CIM
11:02 AIDA Cruises’ new cruise ship completes its first voyage on the river Ems
10:51 Sea Machines names Trevor Vieweg as new chief technology officer
10:14 TECO 2030 receives NOK 50 million in government support for fuel cell development
10:07 MABUX: Bunker prices may demonstrate irregular changes on Oct 26
09:54 Baltic Dry Index as of Oct 25
09:51 San Pedro Bay ports announce new measure to clear cargo
09:09 Oil prices continue to climb

2021 October 25

19:59 Severnaya Verf readies the 170701 series factory freezer trawler Kapitan Sokolov for shore power connection
18:13 CMA CGM applies Winter Surcharge in the Russian ports of St Petersburg, Bronka and Ust-Luga
17:44 Estonia’s Elenger takes delivery of first Damen LGC 6000 LNG bunkering vessel
17:34 Carnival Cruise Line christens Mardi Gras in first naming ceremony in the U.S. since industry restart
16:57 Sembcorp Marine clarifies report on the Johan Castberg Project
16:47 Two ways to experience the Fort Lauderdale Int'l Boat Show
15:23 Trafigura Group closes USD2.4 billion-equivalent syndicated revolving credit facility and term loan facilities
14:22 Sea Port of Saint Petersburg’s employees support package during COVID-19 pandemic
14:02 Svanehøj launches a new control system makes P&C offloading faster and easier
13:20 PIL launches new direct China to Gulf Service – Gulf China Service
12:15 Port of Hamburg honoured as ‘Best Seaport – Europe’
11:35 LR granted AiP to Samsung Heavy Industries for liquefied hydrogen carrier
11:12 Rosmorport updates Port of Ust-Luga data in the Register of Russia’s seaports
10:17 MABUX: Bunker prices may demonstrate upward changes on Oct 25
09:38 Russian Gov’t gives green light to imposing some port services tariffs in foreign currency
09:21 Baltic Dry Index as of Oct 22