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  • MABUX: Bunker market this morning, Aug 21
  • 2020 August 21 08:38

    MABUX: Bunker market this morning, Aug 21

    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 declined on August 20:

    380 HSFO: USD/MT 309.92 (-0.56)
    VLSFO: USD/MT 367.00 (-1.00)
    MGO: USD/MT 445.57 (-1.12)


    Meantime, world oil indexes also decreased on Aug. 20 after a surprise increase in U.S. initial jobless claims that suggested continued pressure on local oil demand.

    Brent for October settlement declined by $0.47 to $44.90 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for October fell by $0.11 to $42.82 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $2.08 to WTI. Gasoil for September delivery lost $5.75.

    Today morning oil indexes increase buoyed by major oil producers' efforts to hold back output amid concerns about the economic recovery from the coronavirus pandemic.

    Initial jobless claims raised for the first time since the end of March, to over 1.1 million, with another half a million making initial claims for Pandemic Unemployment Assistance. As the latter program has been sharply cut since the start of the month, such increases are likelier to pass through into demand than earlier in the summer, when a more generous support regime kept consumer incomes largely intact.

    Oil indexes also reacted with decline after the Fed released on Aug.18 the minutes from its July 28-29 meeting. The participants in the meeting noted that the path of the economy would depend significantly on the course of the virus and that the ongoing public health crisis would weigh heavily on economic activity, employment, and inflation in the near term and posed considerable risks to the economic outlook over the medium term.  

    The Energy Information Administration’s weekly report on oil stocks on Aug.18 had reinforced the impression that U.S. products consumption has stalled, with levels of gasoline and diesel consumption still more than 10% below year-earlier levels and supplies of jet fuel down nearly 50%.

    At the same time, the risk of oversupply on the global market is still alive. According to the Joint Ministerial Monitoring Committee (JMMC), the countries who had signed up to the OPEC+ pact on cutting output had oversupplied by an average of 2.3 million barrels a day between May and July. Iraq was the biggest culprit, but Russia and Kazakhstan together overproduced by nearly half a million barrels a day on average. The surplus seen between May and July ought to be compensated for in August and September.

    Meanwhile, OPEC+ was focused on ensuring that members who had overproduced against their commitments would cut their output. The Committee said, that achieving 100% conformity from all participating countries in the agreement and compensating for the shortfalls in May, June and July 2020 is fair and vital for the ongoing rebalancing efforts and to help deliver long-term oil market stability. An additional concern for the oil market according to JMMC is that the pace of recovery appeared to be slower than anticipated with growing risks of a prolonged wave of COVID-19. It found if a prolonged second wave of infections hits China, India, Europe and the United States in the second half of the year, demand could fall by 11.2 million bpd in 2020. A meeting of ministers, however, concluded that no change from the current schedule on output was necessary.

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




2021 October 20

13:52 Kawasaki Heavy Industries announces delivery of bulk carrier BBG GUILIN
13:20 Port of Oakland sees no backlog on docks, calls for cargo
12:52 Japanese company Kubota chooses port of Rotterdam for Northern European distribution
12:39 Crowley participates in Saildrone Inc’s $100M Series C round to advance ocean intelligence products
12:02 Global Ports terminal In Helsinki increases number of container services
11:54 Port Houston container volumes up 11% to 281,500 TEUs in September 2021
11:40 Sibanthracite Group acknowledged as best supplier of coal to China for second consecutive year
11:16 MPA and DMU signed MoU to drive talent and academic exchange in the maritime sector
10:51 Mitsubishi Shipbuilding successfully separates and captures CO2 from exhaust gas in world’s first marine-based CO2 capture system project
10:28 Modernization of border checkpoint completed in Kavkaz seaport
10:06 RF President gives instructions on permanent environmental monitoring in areas of handling dry bulk cargo and cargo emitting dust
09:45 MABUX: No firm price trend on Bunker market on Oct 20
09:35 Crude oil prices decrease on US reserves growth
09:19 Baltic Dry Index as of October 19

2021 October 19

18:24 Ocean Yield ASA sells two LR2 tankers
17:44 Klaveness Combination Carriers sells a 21-years old CABU vessel
17:22 Oboronlogistics delivers cargo for the construction of a cultural cluster in Kaliningrad
16:58 North Sea Port, Zeeland Regional Safety Board and Central Fire Response Zone join forces for cross-border incident response in the port area
16:35 European shipowners support the uptake of clean fuels but fear FuelEU may become missed opportunity due to enforcement loopholes - ECSA
16:20 9M’2020 throughput of Taganrog Sea Commercial Port grew by 6% Y-o-Y
16:05 Fuelling the Industry: LNG as a fuel and its infrastructure at the 8th International Congress
16:04 Empire Offshore Wind selects Vestas as its preferred supplier for wind turbine generators for Empire Wind I and Empire Wind II
15:41 The decarbonization strategy likely is now the best business strategy for shipowners - ABS
15:13 Bollinger celebrates commissioning of 45th Fast Response Cutter USCGC Emlen Tunnel
14:51 RF Government and Rosatom instructed to organize regular transportation of transit cargo by NSR
14:30 Port of Rotterdam throughput rises substantially again in Q3 2021
14:03 Valenciaport throughput up 8.33% to 63.46 mln tonnes in Jan-Sept 2021
14:02 Ice restrictions in Port of Sabetta basin to be effective as of Oct 25
13:39 TGE Marine announces the successful gas trail of LNG bunker vessel ´Dmitry Mendeleev´
13:08 Port of Antwerp throughput up by 4.8% to 179.1% mln tonnes in Jan-Sept 2021
12:54 Cargo traffic via Khabarovsk Territory ports rose by 3% in 9M’21
12:33 Vitol’s V-Bunkers receives green ship awards from Maritime Port Authority of Singapore
12:15 The Methanol Institute welcomes the European Union’s package of proposals Fit for 55
11:36 Volga Shipping announces completion of three tankers conversion project
10:46 MABUX: Bunker prices may demonstrate multidirectional changes on Oct 19
10:11 Russian Gas Society supports 5th LNG Fleet, LNG Bunkering and Alternatives conference
10:09 Berenberg expands debt fund portfolio with two new multi-investor funds
09:46 Baltic Dry Index as of October 18
09:25 Crude oil prices rise on crisis anticipation
09:13 Roxtec selects Sustainable Marine Fuels

2021 October 18

18:07 OneOcean Group brings voyage optimisation solutions to Marlink Partner Programme
17:53 NOVATEK held its first Arctic LNG Projects Shipowners Conference
17:49 MOL tabletop drill prepares for serious marine accident
17:29 Over 40 ships and boats of RF Navy's Black Sea Fleet took part in large-scale exercise at Opuk training ground in Crimea
16:52 Icebreaker Kapitan Khlebnikov to help deliver new components for the Vostok Station in the Antarctic
16:16 Throughput of Russian seaports in 9M’2021 climbed by 1.7% (detalization)
15:48 Four industry focused educational institutions to take part in 5th LNG Fleet, LNG Bunkering and Alternatives conference
15:25 Baltiysky Zavod shipyard casts forth one-piece propeller for Project MR-50 product tanker
15:03 Nemport orders fleet of Konecranes Noell RTGs
14:13 Average spot market price for Russian M100 product rose to RUB 29,186 pmt
13:51 MOL, MAN ES and MES-M sign MoU aiming to order ammonia fueled main engine for ships
13:42 National Chamber of Engineers supports 5th LNG Fleet, LNG Bunkering and Alternatives conference as its Media Partner
13:00 Port of Ventspils throughput in January-September 2021 fell by 14% YoY
12:40 The Port of València will install a hydrogen supply station in January
12:36 Port of Helsinki throughput in January-September 2021 rose by 7.9% YoY
12:14 Port of HaminaKotka cargo turnover in 9M’2021 fell by 2.1%
11:29 Container throughput of Hong Kong port (China) in January-September 2021 rose by 0.1%
10:57 APM Terminals appoints new Head of Decarbonisation
10:48 Port of Liepaja throughput in 9M’2021 climbed by 8% Y-o-Y
10:25 Global Ports’ Consolidated Marine Container Throughput increased by 4.0% y-o-y in 9m 2021