• 2020 August 7 09:51

    MABUX: Bunker market this morning, Aug 07

    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 increased on Aug. 06:

    380 HSFO: USD/MT 305.65 (+1.40)
    VLSFO: USD/MT 363.00 (+2.00)
    MGO: USD/MT 443.88 (+3.19)


    Meantime, world oil indexes reduced on Aug. 06 amid the continued spread of COVID-19 worldwide.

    Brent for October settlement decreased by $0.08 to $45.09 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for September fell by $0.24 to $41.95 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $3.14 to WTI. Gasoil for August delivery lost $13.50.

    Today morning oil indexes continue to decline on worries that fuel demand growth will drop amid a resurgence of coronavirus cases and as talks have stalled in the United States on a new stimulus deal.

    The resurgence of coronavirus infections remains the main uncertainty in the oil market, as that will determine how fast fuel demand rebounds. Global COVID-19 cases stand at more than 18,73 million, while total deaths had exceeded the 700,000 mark, according to the data from John Hopkins University.

    At the same time, the market is also watching the lack of progress in the talks between the White House and Democrats over the next coronavirus stimulus package, with Democrats saying President Donald Trump may have to issue executive orders if he does not want to negotiate further. The virus relief package remains the last hope to boost fuel demand, with the U.S. driving season coming to an end soon.

    Over the week, a weaker U.S. dollar has helped support higher oil prices, as oil is priced in U.S. dollars, making it more attractive to crude buyers in other currencies. The dollar index, which measures the greenback against six major currencies, dropped to its lowest since May 2018 on Aug.06.

    According to U.S. Energy Information Administration, U.S. commercial crude inventories fell 7.37 million barrels to 518.6 million barrels for the last week, and narrowed the surplus to the five-year average to about 16%. It was the second week in a row that US inventory stockpiles fell, indicating a clear downtrend after the 10.61 million-barrel decline the previous week. However, there are some worries about rising U.S. refined product inventories at a time when U.S. central bankers said the resurgence in cases was slowing the economic recovery in the world's biggest oil consumer. EIA data showed distillate stockpiles, which include diesel and heating oil, climbed to a 38-year-high, and gasoline inventories unexpectedly rose for a second week in a row.

    OPEC’s second-largest producer, Iraq, is promising additional cuts of around 400,000 barrels per day (bpd) this month in order to compensate for the lack of compliance with the OPEC+ agreement in the previous months. Iraq, which has been the least compliant member of the OPEC+ production cut pact since it was first launched in January 2017, has been promising for months that it would reduce its oil production and fall in line with its quota—something it hasn’t done since 2017. Iraq is said to have recently slashed its crude oil exports, aiming for better compliance with the OPEC+ pact, but it appears it did not make material progress at least through July.

    We expect bunker prices may demonstrate downward changes today: 1-3 USD down for IFO and 10-13 USD down for MGO.




2020 September 30

12:09 Detachment of RF Navy’s Pacific Fleet returned to Vladivostok after long range campaign in Asia-Pacific region
11:31 Russia’s seaborne cargo traffic turnover to rise by some 10% in 2020
11:04 Port of Los Angeles and Port of Long Beach to host Clean Air Action Plan update meeting
10:50 Rosmorport announces tender for dredging in Kavkaz port’s water area
10:23 Bunker prices decrease in the Port of Saint-Petersburg, Russia (graph)
09:36 MABUX: Bunker market this morning, Sept 30
09:35 Scorpio Bulkers announces the sale of a Kamsarmax vessel
09:27 Oil prices continue decreasing
09:12 Baltic Dry Index as of September 29
08:33 Keppel reaffirms Vision 2030 and rolls out next steps for implementation
07:29 ADNOC signs 25-year agreement to service all petroleum ports in Abu Dhabi

2020 September 29

19:01 Carnival Cruise Line’s Mardi Gras departs on sea trials
18:37 Great Lakes announces receipt of $105 mln Jacksonville deepening award
18:03 Kongsberg Digital wins contract to deliver cutting-edge engine room simulator to German training institute
17:55 Murmansk Commercial Seaport expands its fleet of equipment
17:31 Milaha signs deal with Schlumberger
17:16 Expansion of Aberdeen Harbour by Van Oord in full swing
17:08 HHLA invests in the Adriatic Port of Trieste
16:29 Record-high number of international cruise ships to arrive at the Port of HaminaKotka next year
16:05 Hamworthy Pumps makes strong re-entry to tanker market
15:44 New BIMCO Shipping KPI version offers improved benchmarking concept
15:32 Free energy scan for inland vessels is to stimulate the use of shore power
15:05 Mir sailing training ship accepts new shift of cadets
14:30 Admiral Essen frigate of RF Navy’s Black Sea Fleet passes Black Sea Straits towards Mediterranean Sea
13:58 Traficom surveyed Maritime professionals’ opinions regarding N2000 fairway and nautical chart reform
13:13 Victor Shitukhin is appointed as Acting Director of its Ship Repair Plant ‘Nerpa’
12:49 Lotos shipyard lays down two self-propelled dredgers
12:11 Bunker prices decrease in the Far East ports of Russia (graph)
11:47 Port of Antwerp focuses heavily on general cargo: search begun for breakbulk candidate for Churchill Dock
11:27 Joint oil spill exercise tests inter-agency response and cooperation amidst COVID-19 pandemic
10:46 New impetus for digitalization of shipping in the COVID-19 pandemic
10:09 IAPH presents guidelines for LNG-powered vessels during port calls
09:54 Oil prices are decreasing
09:35 Port Authority of Singapore holds joint oil spill exercise
09:15 Baltic Dry Index as of September 28
08:58 MABUX: Bunker market this morning, Sept 29

2020 September 28

18:57 Okeanis Eco Tankers announces one year VLCC time charter
18:27 Bumi Armada secures third FPSO project in India
18:07 Wilhelmsen and thyssenkrupp step-up collaboration, establishing 3D printing joint venture targeting the maritime industry
17:59 RF Government to allocate RUB 27.6 billion for construction of two scientific research ships
17:28 Port of Long Beach announces closure of traffic routes leading to the Gerald Desmond Bridge
17:05 Maersk Supply Service and Ørsted to test offshore charging buoy to reduce vessel emissions
17:02 Oboronlogistics completed Northern Delivery programme of 2020
16:56 UTLC ERA JLC and Belintertrans-Germany GmbH open joint end-to-end regular multimodal service from China to Western Europe
16:37 Atommash shipped Reactor Pressure Vessel for Turkey's first nuclear power plant
16:14 The digital transformation is accelerating, and insurers and underwriters must adapt, says IUMI
15:51 Ships of RF Navy's Black Sea Fleet returned to their permanent locations after "Kavkaz-2020" maneuvers
15:29 New railway bridge over Kolar river put into operation in Murmansk Region
15:13 BIMCO to push for international guidelines for ship/shore communication at IMO
14:12 Submersible robot buries power cables for offshore wind farms 5.5 metres below seabed to the north of Maasvlakte
13:53 Moscow Exchange registered debut bond issue by FSUE "Rosmorport"
13:30 Blanket repair begins at Beloomut dam’s second section
13:12 Busan Port Authority concludes an agreement to establish a smart maintenance system for port facility
12:54 Average spot market price for Russian M100 product fell to RUB 11,773 pmt
12:11 Abu Dhabi Ports acquires MICCO to become a leading provider of fully integrated supply chain logistics solutions
11:36 RF Government approves National Programme for Far East Development
11:13 Aker Solutions awarded subsea contract for Breidablikk
10:51 Hornsea Two monopile installation scheduled to start next month
10:21 Shipbuilding, Ship Repair Corporation launches non-self-propelled suction hopper dredger of Project 4395
09:52 Tallink suspends operation of Helsinki-Riga route until end of October