• 2020 August 4 09:23

    MABUX: Bunker market this morning, Aug 04

    MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO (Gasoil) in the main world hubs) decreased slightly on August 03:

    380 HSFO: USD/MT 300.19 (-1.11)
    VLSFO: USD/MT 356.00 (-2.00)
    MGO: USD/MT 437.39 (-0.44)


    Meantime, world oil indexes rose slightly on Aug.03, on positive economic data from the United States, Europe and Asia, but investors remained concerned about rising COVID-19 cases globally.

    Brent for October settlement increased by $0.85 to $44.15 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for September delivery rose by $0.74 to $41.01 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $3.14 to WTI. Gasoil for August delivery gained $5.00 – $370.00.

    Today morning global oil indexes have turned into slight downward movement again.

    Market is worried about oversupply as OPEC+ is due to start reducing production cuts this month. Besides, a recovery in oil prices from record lows is likely to encourage U.S. shale producers to ramp up output.

    Russia said that the country's oil output in July was unchanged from levels seen in June, in line with an OPEC+ agreement. It was pointed out that RF level of compliance with the deal in July was close that recorded in June, when it stood at 99%. Under the OPEC+ agreement, Moscow pledged to reduce its output to around 8.5 million bpd in May-July to support oil prices. The deal does not include output of gas condensate, a light oil. The cuts under the global deal should be eased starting from August because of a recovery in oil prices. Russia has said it would increase its oil production by 400,000 bpd.

    It is expected that Saudi Arabia to cut the price of its flagship Arab Light crude grade to Asia for September by an average of US$ 0.48-0.61 per barrel. While the Saudi price hikes in the past three months signaled oil demand recovering and Middle East Dubai/Oman benchmarks strengthening as supply grew tighter after the OPEC+ cuts, the expectations of lower Saudi prices going forward is a sign that demand recovery is stumbling and dragging the Middle East benchmarks and refining margins down.

    India was under lockdown for most of April and May because of the coronavirus pandemic, and now people seem to be avoiding commuting on public transportation where possible. The use of passenger cars and two-wheelers in India is only set to grow, which may translate into higher demand for refined oil products and consequently, higher crude oil imports. Meantime, India’s crude oil imports slumped in June to their lowest levels since 2011, with oil refiners buying less crude because of maintenance and weaker demand.

    The autonomous government of northeast Syria has signed a deal for the marketing of crude oil with a U.S. company. Most of Syria’s oil is in the northeast of the country, which is under the control of a Kurdish-led Syrian Democratic Council, the political wing of opposition formation Syrian Democratic Forces, which has enjoyed U.S. support through the prolonged conflict. It was also reported, that the United States was going to supply two modular refineries to northeastern Syria, which will satisfy a fifth of the oil-rich region’s needs. At the moment, most of the oil still produced in Syria—around 60,000 bpd—is refined in makeshift facilities. Before the war, the country produced 380,000 bpd.

    The LNG market went into a tailspin this year due to the pandemic, but in fact, the global market for natural gas was heading into a downturn at the start of 2020, before the coronavirus led to widespread shutdowns. A substantial increase in export capacity in 2019 outpaced demand growth, pushing down prices. Against a weak backdrop, the pandemic-related demand destruction disturbed the market, leading to LNG prices in Asia (JKM) to collapse below $3/MMBtu and even below $2/MMBtu for a period of time. The negative effect of the LNG supply glut has been felt most acutely by U.S. exporters. The gas glut in Asia led to storage filling up in Europe, and ultimately the flexibility of American LNG translated into cancelled cargoes from the United States. Dozens of cargoes were cancelled in each of June, July and August.

    We expect bunker prices may slightly rise by 3-5 USD today.




2020 September 25

18:07 Tripartite agreement signed on establishing the FSRU terminal in the Bay of Gdansk
17:55 Baltic Fuel Company shipped first batch of bitumen
17:39 Scorpio Bulkers announces purchase of shares by Scorpio Services
17:34 Vessel “Razul Rza” sent to outer waters after the repair works
17:12 Metal Shark debuts 48-meter catamaran expedition vessel and introduces "Metal Shark Yachts" portfolio
16:51 Ningbo Containerized Freight Index rises significantly in September
16:19 OOCL's service update for Trans-Pacific trade
16:16 Representative office of Marinet opened in China
15:27 GTT signs a contract with the U.S. Dep't of Defense for the Red Hill Bulk Fuel Storage Facility
14:59 RFC held the second stage of the ecological marathon
14:31 Bunker prices are flat in the Port of Saint-Petersburg, Russia (graph)
14:05 Zvezda shipyard to build 10 gas tankers for Arctic LNG 2
13:42 Wärtsilä solutions meet challenging needs of Canadian Coast Guard vessel
13:18 Nuclear-powered container carrier Sevmorput delivered Kamchatka fish to Saint-Petersburg
12:56 Competition for construction of two scientific research ships for Russian Federal Fisheries Agency to be announced in October
12:34 Royal Niestern Sander orders SCHOTTEL thrusters for world’s first shallow-draught ice-breaking W2W vessel
12:11 VEB.RF starts financing construction of ten gas tankers for Arctic LNG 2 project
11:29 LR awards Samsung Heavy Industries AiP for its ammonia-fuelled tanker
10:37 British Ports Association sets out spending review priorities
10:29 New state programme on Arctic development in 2021-2024 drafted by Russia’s ad hoc Ministry
09:53 Debt service guarantees on Yamal LNG removed from NOVATEK
09:30 Oil prices rise in hope of demand
09:12 Baltic Dry Index as of September 24
09:11 MABUX: Bunker market this morning, Sept 25

2020 September 24

18:37 Kongsberg Digital develops cloud-based simulators for maritime industry, with funds from Innovation Norway
18:07 Wärtsilä ranked first in UN challenge to fight climate change with big data
17:45 Alco Bio Fuel, Messer Benelux and IJsfabriek Strombeek once again invest in recycling CO2 in North Sea Port
17:20 World’s first subsea compression system passes five years in operation
17:12 Esben Poulsson reappointed as ICS Chairman for a new term
16:48 Okskaya Shipyard launches first multipurpose dry cargo carrier of Project RSD59 for Astrol
16:24 Severnaya Verf starts cutting steel for seventh trawler of Project 170701 for NOREBO Group
15:50 ASCO's vessel “Razul Rza” sent to outer waters after repairs
15:26 Russian Direct Investment Fund (RDIF) to invest in Sovcomflot, says RDIF CEO
15:02 Diana Shipping announces the sale of a Capesize Dry bulk vessel
14:39 Russian Railways launches regular multimodal service from China to Europe via the ports of Kaliningrad and Hamburg
14:17 MABUX releases its weekly review of bunker market
14:02 Fincantieri starts dry dock works for experimental vessel Zeus
13:40 Freeport of Riga Authority signs Declaration of Cooperation with Port of Shenzhen
13:21 IMO celebrates World Maritime Day 2020
13:08 Total and MOL officially name the world’s largest LNG bunker vessel
12:48 Bunker prices decrease in the Far East ports of Russia (graph)
12:25 ZIM launches new China-Australia Express Line
12:11 Inmarsat Fleet Lte service coverage extended to Gulf of Mexico following successful trials with V.Ships Offshore
11:32 Ships of RF Navy’s Black Sea Fleet take part in "Kavkaz-2020" maneuvers
11:14 Port of Trelleborg offers their shipping customers reliable and fast internet with Nowhere Networks
11:13 "Tatarstan" missile ship of RF Navy’s Caspian Flotilla involved in "Kavkaz-2020" maneuvers
10:09 CTI-Maritec receives DNV GL approval for ballast water testing
09:57 Muuga freight station of Rail Baltica is to be designed by SWECO Projekt AS
09:36 MPC Container Ships ASA announces appointment of new CFO
09:29 Oil prices decrease amid concern over demand/supply imbalance
09:11 Baltic Dry Index as of September 23
08:40 MABUX: Bunker market this morning, Sept 24

2020 September 23

18:15 HMM opens Fleet Control Centre
17:35 Stena develops a solution to use recycled batteries in charging stations at port
17:05 Philippine Ports Authority COVID-19 Molecular Testing Center for seafarers now operational
16:42 British Ports responds to reasonable worst-case scenario Brexit assumptions
16:17 Vestdavit wins contract to supply six Australian Navy patrol boats
16:03 ABB powers P&O super-ferries towards new sustainable transport era
15:43 Royal Niestern Sander orders SCHOTTEL thrusters for world’s first shallow-draught ice-breaking walk-to-work vessel
15:25 FESCO’s Board of Directors elected new Management Board