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  • MABUX: Bunker market this morning, Aug 19
  • 2020 August 19 08:51

    MABUX: Bunker market this morning, Aug 19

    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 irregular changes on August 18:

    380 HSFO: USD/MT 310.00 (+1.37)
    VLSFO: USD/MT 360.00 (+3.00)
    MGO: USD/MT 443.81 (-1.86)

    Meantime, world oil indexes slightly increased on Aug. 18 ahead of updates on U.S. inventories and OPEC+ meeting on Aug.19 to review the effectiveness of the group’s output restraint deal.

    Brent for October settlement increased by $0.09 to $45.46 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for September remained unchanged at $42.89 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $2.57 to WTI. Gasoil for September delivery added $5.00.

    Today morning oil indexes decline amid concerns about U.S. fuel demand recovery, with the U.S. Congress still unable to reach a consensus on the latest stimulus measures to get economic demand recovery from COVID-19 on track.

    There are also continuing signs around the world of the virus' enduring potential to hit demand: South Korea, which imports over 2.5 million barrels a day in normal times, said earlier it will tighten lockdown measures again in response to a flare-up of the coronavirus, while in India - another major importer struggling to contain the virus - the diesel sales have fallen 20% in the first half in August from the same period a month earlier. There is too much crude oil in storage on the market and the current balance of supply and demand is not likely to create sizeable draws of stored crude very soon.

    At the same time, according to the industry data from the American Petroleum Institute, U.S. crude inventories fell by 4.3 million barrels to about 512 million barrels, more than analysts' expectations for a 2.7 million-barrel drawdown. U.S. government inventory data is due later today. It is expected, that oil inventories fell 2.67 million barrels last week, bringing the total draw over the last four weeks to nearly 25 million barrels.  

    The market is keeping eye on today meeting of a joint ministerial monitoring committee (JMMC) of the OPEC+, which is set to review adherence to a previously agreed deal on oil output cuts. Compliance with the cuts stood at 95-97% in July. Russian Energy Minister Alexander Novak is set to join the video meeting despite having tested positive for the coronavirus.

    U.S. President Donald Trump on Aug.18 said he postponed trade talks with China, adding that he does not want to talk to China right now. White House Chief of Staff Mark Meadows told that no new high-level talks have been scheduled between the United States and China, but U.S. Trade Representative Robert Lighthizer remained in regular contact with his counterparts in China about its commitments under the trade agreement. Representatives from the United States and China had been scheduled to discuss implementation of their so-called Phase 1 trade deal on Aug.15, but those talks were canceled.

    The administration of U.S. President Donald Trump is weighing additional sanctions on Venezuela aimed at halting the remaining fuel transactions permitted with the Latin American country. The step could target crude swaps with companies in Europe and Asia. The sanctions have not been finalized and talks are ongoing. The United States has debated the move for months, and initially prioritized actions against Iran, which started exporting gasoline to Venezuela. The United States said on Aug.14 it had confiscated four Iranian fuel shipments that had been bound for Venezuela, disrupting a key supply line for both Tehran and Caracas as they defied U.S. sanctions.

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

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