• Home
  • News
  • MABUX: Bunker market this morning, Aug 18
  • 2020 August 18 09:24

    MABUX: Bunker market this morning, Aug 18

    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) change insignificant and irregular on August 17:

    380 HSFO: USD/MT 308.63 (+0.14)
    VLSFO: USD/MT 366.00 (0.00)
    MGO: USD/MT 445.67 (-0.62)


    Meantime, world oil indexes rose on Aug.17 as OPEC+ producers almost fully complied in July with their global production cut accord.

    Brent for October settlement increased by $0.57 to $45.37 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for September delivery rose by $0.88 to $42.89 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $2.48 to WTI. Gasoil for September delivery gained $0.50 – $375.00.

    This morning, global oil indexes demonstrate some signs for upward correction.

    A sharp rise in COVID-19 cases in France and Italy over weekend led the authorities to impose some new restrictions.

    Market sentiment soured after the United States and China delayed a review of their Phase 1 trade deal initially slated for Saturday, citing scheduling conflicts. However, in a positive signal, Chinese state-owned oil firms have tentatively booked tankers to transport at least 20 million barrels of U.S. crude for August and September.

    OPEC and its allies have achieved the oil-market equivalent of a high-wire act: increasing supply even as demand remains depleted, without crashing prices.  Whether they can successfully continue the balancing act is unclear. However, the outlook for fuel demand has deteriorated as the pandemic crushes international travel, and new outbreaks of the disease are weighing on the economic recovery. On Aug.19, key OPEC+ members will meet to consider how to safe-guard their recent success.

    China’s recovering economy and the government stimulus to infrastructure activities are set to boost demand for heavy machinery and diesel to power them. Other factors contributing to the high demand for diesel include booming e-commerce with road freight deliveries and strong mining activities. China’s diesel consumption in 2020 could increase by between 60,000 bpd and 90,000 bpd to reach a record of 3.8 million bpd-4.1 million bpd, beating the previous all-time high from last year. While diesel demand is set for an all-time high, demand for gasoline is forecast to be either flat year over year, or to post a small single-digit decline.

    Most US onshore operators will restore nearly all shut-in oil volumes by the end of the third quarter, with only a handful maintaining some level of reduction for the rest of the year. The pace of reactivation has accelerated since July. As much as 373,800 bpd of net production, or 48% of the cuts made in May, was restored in July, followed by an additional net volume of 232,200 bpd slated to be back in August. Only a handful of operators intend to wait until September to reactivate the last of their curtailed volumes.

    Despite tightening U.S. sanctions, Venezuela’s PDVSA has managed to ramp up its oil exports this month, with the daily average hitting 325,000 barrels, which was the highest in four months. The increase comes due to diesel-for-crude swaps, which are not covered by U.S. sanctions, at least for the time being. Meanwhile, production has continued to fall, to a bit over 100,000 bpd, compared with some 2 million bpd Venezuela produced three years ago before the government in Caracas fell in the crosshairs of the Trump administration. For now, however, this low production rate does not affect exports because Venezuela has quite a bit of oil in storage.  

    The majority of EU members consider, the hostile U.S. position on the Gazprom-led Nord Stream 2 pipeline project is a breach of international law. The European Union communicated a sharp note of protest against U.S. interference in the construction of the pipeline to Washington. The note was supported by 24 of the EU's 27 members. The United States last month warned the companies helping Russia to complete the Nord Stream 2 and the TurkStream 2 natural gas pipelines that they should 'get out now' or face the consequences, as the Trump Administration steps up efforts to stop the construction of the controversial Russia-led pipelines in Europe.

    We expect IFO bunker prices may go upward by 3-5 USD today, MGO prices will stay steady.




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