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  • MABUX: Bunker market this morning, July 10
  • 2020 July 10 09:11

    MABUX: Bunker market this morning, July 10

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

    Oil prices fell about $1 a barrel on Thursday as investors worried that renewed lockdowns to contain the spread of coronavirus in the United States would again sink fuel consumption.

    Brent crude LCOc1 futures fell 94 cents, or 2.2%, to settle at $42.35 a barrel, after gaining 0.5% on Wednesday. U.S. West Texas Intermediate (WTI) crude CLc1 futures fell $1.28, or 3.1%, to settle at $39.62 a barrel.

    The United States reported more than 60,000 new COVID-19 cases on Wednesday, the biggest increase reported by a country in a single day. Coronavirus cases have been on the rise in 42 of the 50 U.S. states over the past two weeks, according to a Reuters analysis.

    The renewed orders are likely to dent any sustained recovery in fuel demand. Data from the U.S. Energy Information Administration showed U.S. gasoline stockpiles fell by 4.8 million barrels last week, much more than analysts expected, as demand hit its highest level since March 20. [EIA/S]

    In storage hub Cushing, Oklahoma, crude stockpiles rose around 2 million barrels in the week to Tuesday, traders said, citing a Thursday report from Genscape.

    In India, fuel demand fell 7.9 percent in June compared with the same month last year, denting market sentiment further on Thursday.

    “The Indian demand numbers were disappointing,” said Phil Flynn, senior analyst at Price Futures Group in Chicago. “That didn’t fit the narrative we were hearing that India’s economy was bouncing back.”

    Still, futures have held around $40 a barrel and some analysts expect prices to hold in a range ahead of a meeting on July 15 of the market monitoring panel of the Organization of the Petroleum Exporting Countries (OPEC) and its allies.


    Today Friday oil prices fell, adding to steep losses from the previous session, and were headed for weekly declines on worries that renewed lockdowns following a surge in coronavirus cases in the United States and elsewhere would suppress fuel demand.

    Brent looks set for a weekly decline of nearly 2% and U.S. crude for a fall of more than 3%. Trading was quiet with Singapore on holiday for an election.

    While many analysts are expecting economies and fuel demand to bounce back from the pandemic, record daily increases in coronavirus infections in the United States, the world’s biggest oil consumer, raised concerns about the pace of any recovery.

    More than 60,500 new COVID-19 cases were reported in the United States on Thursday, setting a daily record, with Americans being told to take new precautions. The tally was also the highest daily count yet for any country since the pathogen emerged in China late last year.

    In Australia, the government on Friday will consider reducing the number of citizens allowed to return to the country from overseas, after authorities ordered a new lockdown of the country’s second-most populous city, Melbourne.

    Oil inventories also remain bloated due to the evaporation of demand for gasoline, diesel and other fuels during the initial outbreak.    

    U.S. crude oil inventories rose by nearly 6 million barrels last week after analysts had forecast a decline of just over half that figure.
    Oil Future close 9th July, 2020
     


     

    The Oil Market is trading at GMT 05.17: Brent -46 cents and WTI -54 cents
    We expect Fuel Oil prices to drop 6 – 8 usd/mton today. MGO and NY Harbor Ulsd down about 3 – 4 usd/mton.




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