• 2020 July 8 09:37

    MABUX: Bunker market this morning, July 08

    The Bunker Review was contributed by Marine Bunker Exchange (MABUX)

    Oil prices settled little changed on Tuesday as demand concerns due to a new surge in coronavirus cases overshadowed U.S. government forecasts for lower production.

    Early in the session, the market popped because of the higher forecast demand, and more bullish jobs data, said Phil Flynn, senior analyst at Price Futures Group in Chicago. But the market gave up the gains as focus returned to rising coronavirus cases.

    The U.S. Energy Information Administration (EIA), forecast that global oil demand would recover through the end of 2021, predicting demand of 101.1 million barrels per day (bpd) by the fourth quarter of next year.
    “Global oil demand continues to recover faster than previously estimated,” Linda Capuano, EIA administrator, said, noting that global liquid fuels consumption in the second quarter was down an average 16.3 million bpd from a year earlier.

    Today’s start oil prices are edging lower on Wednesday after industry data showing a build in U.S. crude stockpiles added to worries about oversupply, but hopes for a swift economic recovery in China limited losses.

    “The market is mixed as optimism about China’s quick economic rebound is offset by persistent worries that the rising coronavirus cases in the United States and other areas will stall a recovery in fuel demand,” said Satoru Yoshida, a commodity analyst with Rakuten Securities.

    “We expect the WTI to stay in the $38.50-$41.50 range for the next couple of weeks,” he added.

    U.S. crude oil stockpiles rose last week, against expectations for a draw, although gasoline and distillate inventories fell more than expected, data from industry group the American Petroleum Institute showed.

    Adding to pressure, the U.S. Energy Information Administration (EIA) said on Tuesday that U.S. crude oil production is expected to fall by 600,000 barrels per day (bpd) in 2020, a smaller decline than the 670,000 bpd it forecast previously.

    However, it also expected global oil demand to recover through the end of 2021.

    “The EIA’s forecast of a lower decline in U.S. output was partially cushioned by its outlook for firm demand recovery, which limited losses in oil markets,” Hiroyuki Kikukawa, general manager of research at Nissan Securities said.

    “Still, expectations that the Organization of the Petroleum Exporting Countries (OPEC) and allies would taper oil output cuts from August and softer U.S. equities added to pressure,” he said.

    Abu Dhabi National Oil Co (ADNOC) plans to boost oil exports in August, the first signal that OPEC and its allies, together known as OPEC+, are preparing to ease record oil output cuts next month.

    Oil Future close 7th July, 2020:

    Brent crude:

    $43.08 (-0.02)

    Front Month contract with delivery Sep

    Light crude (WTI):

    $40.62 (-0.01)

    Front Month contract with delivery Aug

    Gasoil ARA;

    $370.50 (-2.00)

    Front Month contract with delivery Jul

    NY Harbor Ulsd:

    $382.76 (+0.49)

    Front Month contract with delivery Aug

     

     

     

    The Oil Market is trading at GMT 05.51: Brent -13 cents and WTI -17 cents. Oil Future closed more or less unchanged last night but at the start of the day in Europe. Oil futures are edging downward. We expect bunker prices little change today.




2020 August 14

18:27 RS updates requirements for ship technical documentation
18:15 Boston Ship Repair secures Navy's $16,5M contract for T-AO 193
18:05 RS introduces Guidelines on Fatigue Assessment of Ships
17:46 Ukrainian port of Skadovsk opens grain season
17:23 Heerema's SSCV Sleipnir breaks own record with 10100 mT jacket lift
17:03 Diamond S Shipping Inc. reports 2Q 2020 results
16:59 NIBULON hits new records in 2020/21 marketing year
16:40 H1’2020 throughput of Taganrog Sea Commercial Port is flat Y-o-Y
16:18 Robert Socha joins Conrad Shipyard’s senior management team
15:54 Rosneft’s 1H 2020 hydrocarbon production fell by 7% YoY
15:35 Aker Carbon Capture AS and Aker Offshore Wind Holding AS – contemplated private placement and listing on Merkur Market
15:11 DOF Rederi AS sold vessels with YB 1983/2020
14:49 Port of LA to work with California manufacturers and technology association under new agreement
14:22 Transshipment of Angara launchpad components underway at Sovetskaya Gavan port
13:46 NCSP joins national project to improve workforce productivity
13:24 First of six new US Navy tugboats features integrated Furuno Marine Electronics
13:01 Port of Cardiff signs new long-term lease with Stone Supplies Ltd.
12:38 Rosneft reports H1 net loss of RUB 113 billion
12:10 Okskaya Shipyard lays down fifth multipurpose dry cargo carrier of Project RSD59 for Astrol
11:47 IMSC issues statement on the Incident with Motor Tanker Wila
11:29 Port of LA July volumes are strongest of 2020
10:53 First part of permanent layoff negotiations at Turku shipyard are ready
10:29 Krasnoye Sormovo lays down 23rd dry cargo carrier of Project RSD59
10:04 BlueWater Reporting issues alliance market share report
09:30 Crude oil prices start rising
09:12 MABUX: Bunker market this morning, Aug 14
09:07 Baltic Dry Index as of August 13

2020 August 13

20:58 Rosmorrechflot promotes Stanislav Uryupin to Port of Novorossiysk Harbourmaster
18:31 Glavgosexpertiza gives nod to Sovetskaya Gavan LPG terminal project
18:06 Global Industry Alliance issues Just-In-Time Arrival Guide
17:36 HMM Rotterdam en route to Rotterdam
17:18 Ust-Luga Multipurpose Reloading Complex half-year cargo volume down 9% year-on-year
17:06 The operational situation in the port of Beirut is back to normal
16:48 TCSP Group half-year throughput grows 11.4%
16:31 Kalmar service expertise to enhance safety, performance and productivity on WWO’s American routes from Manzanillo International Terminal in Panama
16:12 CMA CGM announces PSS from North Europe (except France) to Australia & New Zealand
15:26 Minister for Regional Growth and Local Government opens multi million pound bulks terminal at Teesport
15:21 St. Petersburg set to create infrastructure for all-electric passenger vessels
14:39 First supply of bunker fuel by Gazpromneft Marine Bunker to the brand new cruise ship Mustai Karim
13:52 MABUX releases weekly review of global bunker market
13:21 VIKING delivers first of ambulance boat trio for Hellenic Coastguard
12:32 Grain exports via Krasnodar Krai based seaports in Jan-Jul jump 32%
12:14 Port of Oakland import cargo volume grew 6.4 percent in July
11:33 MacGregor receives EUR 18 million RoRo orders from Japan
10:52 Australia authorities issue fumigation requirements for the 2020/2021 high risk season
10:17 Sea Port of St. Petersburg half-year cargo volume rose 3%
10:14 MABUX: Bunker market this morning, Aug 13
09:52 Crude futures prices retreat
09:32 Baltic Dry Index as of Aug 12
08:26 ME-GI engine sails through sea trials

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