• 2020 July 13 09:05

    MABUX: Bunker market this morning, July 13

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

    Oil prices climbed more than 2% on Friday after the International Energy Agency (IEA) bumped up its 2020 demand forecast but record-breaking new coronavirus cases in the United States tempered expectations for a fast recovery in fuel consumption.

    Prices also found support after data showed U.S. energy firms cut the number of oil and natural gas rigs operating to a record low for a 10th week in a row.
    Brent crude LCOc1 settled up 89 cents, or 2%, at $43.24 a barrel and U.S. oil CLc1 settled up 93 cents, or 2.4%, at $40.55 a barrel.

    A strong stock market also boosted oil prices. A slate of economic data, including a record monthly payrolls addition, pointed to a revival in U.S. business activity in June.
    U.S. crude was little changed on the week while Brent notched a weekly gain of about 1%.

    The Paris-based IEA raised its demand forecast to 92.1 million barrels per day (bpd), up 400,000 bpd from its outlook last month.

    “While the oil market has undoubtedly made progress ... the large, and in some countries, accelerating number of COVID-19 cases is a disturbing reminder that the pandemic is not under control,” the IEA said.

    Prices had dropped early in the session after Libya National Oil Corporation announced it had lifted its force majeure on all oil exports after a half-year blockade by eastern forces.

    “The expected re-start of Libyan exports will only add to the vulnerability of the OPEC+ production restraint in keeping the energy complex heavily reliant upon a renewed expansion in risk appetite for any advances back to around this week’s highs,” said Jim Ritterbusch, president of Ritterbusch and Associates.

    Oil inventories remain bloated due to the evaporation of demand for fuel during the initial outbreak.

    “If we take a bigger picture view of the market, what stands out to us is that we have not yet seen much of a decline on the global inventory front,” JBC said.

    Today oil slips as traders eye supply cut easing at OPEC meeting.

    Oil slipped in early Asian trade on Monday as traders eyed an OPEC technical meeting this week which is expected to recommend an easing in supply cuts that have been propping up crude prices.

    Oil prices have recovered sharply from multi-decade lows in April after the Organization of the Petroleum Exporting Countries and allies including Russia, a group known as OPEC+, cut output by a record 9.7 million barrels per day for three months since May.

    OPEC’s Joint Ministerial Monitoring Committee (JMMC) will meet on Tuesday and Wednesday to recommend the next level of cuts.
    OPEC and Russia were expected to ease their supply cuts as global oil demand has recovered and prices have bounced back.

    “The planned easing of OPEC+ production cuts next month ... and a potential rebound in U.S. production could add pressure on the supply side of the equation,” Stephen Innes, chief global markets strategist at AxiCorp said in a note.

    Oil Future close 10th July, 2020

     

    Brent crude:

    $ 43.24 (+0.89)/brl

    FM contract delivery Sep

    Light crude (WTI):

    $ 40.55 (+0.93)/brl

    FM contract delivery Aug

    Gasoil ARA;

    $ 369.75 (+5.25)/mton

    FM contract delivery Aug (New)

    NY Harbor Ulsd:

    $ 382.12 (+5.33)/mton

    FM contract delivery Aug

     

     

     

     

    The Oil Market is trading at GMT 05.25: Brent – 32 cents and WTI – 33 cents
    Expect Fuel Oil prices to increase by 5 – 6 usd/mton today. MGO and NY Harbor Ulsd up about the same as the Fuel Oil 5 – 6 usd/mton.

    Brent crude:

    $ 43.24 (+0.89)/brl

    FM contract delivery Sep

    Light crude (WTI):

    $ 40.55 (+0.93)/brl

    FM contract delivery Aug

    Gasoil ARA;

    $ 369.75 (+5.25)/mton

    FM contract delivery Aug (New)

    NY Harbor Ulsd:

    $ 382.12 (+5.33)/mton

    FM contract delivery Aug




2021 January 23

16:31 DNV GL awards AIP to KSOE for wing sail propulsion system
15:23 Boomsma Shipping installs and sails off with two eConowind Flatrack VentiFoils
14:51 HHLA acquires majority share of automation specialist iSAM AG
13:18 MPA announces 30-day suspension for pleasure craft, ADVANT, for large social gathering on board
12:42 Puerto Aguadulce hits 1 million TEU milestone
11:36 Diana Shipping announces time charter contract for M/V Calipso with Viterra
10:53 Bahri Ship Management receives ISO 45001 certification for occupational health and safety

2021 January 22

18:00 Rosmorport's icebreaker Mudyug starts providing icebreaking assistance in the Baltic Sea
17:36 Andrey Lavrishchev appointed as head of Federal Marine and River Transport Agency
17:13 Aleksandr Poshivay appointed as Deputy Minister of Transport of the Russian Federation
16:34 Rosmorport starts providing geodesic and hydrographic services in the water area of Petropavlovsk-Kamchatsky seaport
16:05 APM Terminals Gothenburg offers certified climate impact calculations to customers
15:49 Sredne-Nevsky Shipyard commences outfitting of yet another minesweeper of Project 12700, Pyotr Ilyichov
15:21 Norsepower installs first tiltable Rotor Sails on Sea-Cargo Ro-Ro
14:58 Container terminal in Świnoujście is in line with sustainable development vision
14:32 Cargo turnover of NCSP Group in 11M’2020 totaled 101.4 million tons, down 21.2% YoY
14:07 Petersburg Oil Terminal in 2020 increased shipments of oil products by 16.6%
14:03 Jan De Nul adds two new vessels to its fleet
13:45 DHT Holdings announces acquisition of two VLCCs
13:29 Iridium partner MetOcean Telematics provides SaR buoys to the USCG
12:52 Havyard develops hydrogen zero-emission vessels in new segment
12:11 THE Alliance announces Transatlantic Service Network adjustments for 2021
11:30 Rosmorport successfully completed formation of Ultramar terminal’s water area
11:06 Training ships Nadezhda and Professor Khlyustin welcome first cadets of 2021 season
11:05 Inmarsat passes 10,000-vessel fleet xpress installation milestone as data demand accelerates maritime digitalisation
10:39 Scottish Ports Group welcomes Scottish Goverment's establishment of 'Greenports'
10:21 Throughput of Kaliningrad port in 2020 fell by 6% Y-o-Y
10:02 MABUX: Bunker market this morning, Jan 22, 2021
09:48 Bunker market sees mixed price movements at the Port of Saint-Petersburg, Russia (graph)
09:30 Crude oil prices decrease amid aggravation of the epidemiological situation
09:12 Baltic Dry Index as of January 21

2021 January 21

18:07 Port of Houston awarded new start for Ship Channel
17:50 Throughput of port Vyborg in 2020 fell by 46% Y-o-Y
17:27 Rolls-Royce secures research contract with US Navy to develop innovative debris detection technology
17:03 Galeon Yachts announce new outbourd model
16:42 Throughput of port Vysotsk in 2020 fell by 4% Y-o-Y
16:32 Jan De Nul Group is the first dredging company to carry out 100% sustainable beach replenishments in Belgium
16:23 Yaskawa Environmental Energy develops a permanent magnet propulsion system for superyachts
16:09 MABUX Bunker Weekly Outlook, as of Jan 21, 2021
16:00 Throughput of port Primorsk in 2020 fell by 19% Y-o-Y
15:36 Bunker market see mixed price movements in the Far East ports of Russia (graph)
15:13 Battle stations for boat-handling systems
14:58 Port of Ust-Luga throughput in 2020 declined by 1% Y-o-Y
14:43 MasterCraft Boat Company launches digital boat show experience to connect with consumers amidst dynamic boat show season
14:22 ABS grants AIP for DSME’s Solid Oxide Fuel Cell technology
14:05 20% global e-commerce growth fast tracks supply chain tech adoption from 5 year plans into 2021 action
13:43 Sovcomflot and Total sign time charter agreement for up to 7 years for a newbuilding 174,000-cbm LNG carrier
13:21 TFG Marine to start bunkering operations from Falmouth in the United Kingdom
13:11 Ocean carriers battle the Covid cargo crunch
12:52 Throughput of Port St. Petersburg in 2020 remained flat, year-on-year
12:36 UECC opening doors to a sustainable future
12:08 Crowley awarded fuel distribution contract for Arctic North Warning System
12:03 FESCO transported first containers with grain from Khabarovsk to China
11:41 Wilhelmsen Ship Management becomes a member of the Sustainable Shipping Initiative
11:24 Russian Crab Company Group reports annual operational results for 2020
11:05 MABUX: Bunker market this morning, Jan 21, 2021
10:36 MSC earns maritime sustainability certificate
10:20 Maritime UK welcomes Associated British Ports to the Diversity in Maritime Charter programme
10:05 New container service connecting Port of Immingham with Bilbao
09:37 Crude oil prices decrease as US resources grow