• 2020 August 13 10:14

    MABUX: Bunker market this morning, Aug 13

    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 demonstrated slight irregular changes on Aug. 12:

    380 HSFO: USD/MT 305.69 (-0.70)
    VLSFO: USD/MT 364.00 (0.00)
    MGO: USD/MT 445.27 (+1.51)


    Meantime, world oil indexes demonstrated increased on Aug. 12 after an industry report showed U.S. crude inventories last week fell more than expected, bolstering hopes that fuel demand in the world's biggest economy can outlive the coronavirus pandemic.

    Brent for October settlement increased by $0.93 to $45.43 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for September rose by $1.06 to $42.67 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $2.76 to WTI. Gasoil for September delivery added $2.25.

    Today morning oil indexes slide down.

    According to the Energy Information Administration (EIA), U.S. crude oil, gasoline and distillate inventories fell last week as refiners ramped up production and demand improved. Crude inventories fell by 4.5 million barrels, compared to expectations for a 2.9 million-barrel drop. That's less than the 7.4 million barrel draw seen last week but that happened as the numbers could understated actual demand from end users: as much as over 2 million barrels of crude was shifted from the Strategic Petroleum Reserve to commercial stocks last week.

    U.S. fuel demand rose to 19.37 million barrels per day last week, the highest since March, while crude output fell to 10.7 million barrels per day (bpd) from 11 million bpd. Gasoline demand climbed back to where it was just before the coronavirus forced people inside, while U.S. refineries raised operating rates to above 80% for the first time since March.

    The EIA's downward revision on Aug.11 to a key U.S. oil production forecast for this year also supported prices. U.S. crude production is forecast to fall by 990,000 bpd this year to 11.26 million bpd, steeper than the 600,000 bpd decline it forecast last month. EIA raised its 2021 outlook for US production by 130,000 b/d to an average 11.14 million b/d, with production rising slowly but steadily to end the year at 11.5 million b/d.

    Capping gains, the OPEC said in a monthly report that world oil demand will fall by 9.06 million bpd this year, more than the 8.95 million bpd decline expected a month ago. Demand in 2021 is expected to rise by 7 million barrels a day, unchanged from its July forecast. At the same time, it also expects global supply from outside OPEC to increase between now and the year-end.

    Increasing uncertainty over a stalemate in Washington on a stimulus package to support recovery from the deepest impact of the coronavirus pandemic also weigh on prices. Republican and Democratic negotiators heaped blame on each other on Wednesday, with Republicans refusing to negotiate their initial $1 trillion offer.

    We expect bunker prices may demonstrate upward changes today: 3-5 USD up for IFO and 1-3 USD up for MGO.




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
09:30 Tallink changes weekend operating schedule of Tallinn-Helsinki route shuttle vessel Star
09:14 Baltic Dry Index as of September 25
08:48 MABUX: Bunker market this morning, Sept 28

2020 September 27

16:43 Milaha signs key deal with major oilfield services firm
15:31 RINA and SDARI: an innovative step towards 3D ship classification
14:28 Belfast Harbour is hosting an innovative study which could help change the way ports and harbours manage air quality
13:48 ABP invests £10 million to repair Swansea West Pier
12:49 Huntington Ingalls Industries restores drinking water, conducts steam testing during USS George Washington (CVN 73) refueling and complex overhaul
12:03 The Manor Endurance sets sail for her first charter
11:29 NYK and JMU introduce shipbuilding contract that guarantees propulsion in actual sea conditions

2020 September 26

15:52 Port Freeport enters partnership with CEMEX Servicios Logisticos and Union Pacific Railroad
14:32 Coast Guard rescue two mariners from disabled catamaran near Oahu
13:43 NAT orders two -2- Suezmax newbuildings in South Korea
12:38 JAXPORT CEO Green named one of Florida’s top business leaders for third year in a row
12:06 Northwest to Midwest: New rail service builds on NWSA’s intermodal growth
11:02 IUMI: Loss prevention remains a vital element in ensuring the insurability of maritime risk
10:53 Huntington Ingalls Industries breaks ground on unmanned systems center of excellence

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