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  • MABUX: Bunker market this morning, Aug 25
  • 2020 August 25 08:46

    MABUX: Bunker market this morning, Aug 25

    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 August 24:

    380 HSFO: USD/MT 309.58 (+0.21)
    VLSFO: USD/MT 361.00 (-3.00)
    MGO: USD/MT 440.64 (-2.60)

    Meantime, world oil indexes increased on Aug. 24 as risk assets in general rose in response to evidence of a continued fall in coronavirus cases in the U.S. Fears of an extended shortfall in supply due to the incipient hurricane season also supported product prices in particular.

    Brent for October settlement increased by $0.78 to $45.13 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for October rose by $0.28 to $42.62 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $2.51 to WTI. Gasoil for September delivery added $10.75.

    Today morning oil indexes are mixed amid massive production cuts in the U.S. Gulf Coast from Tropical Storms Marco and Laura from one side and rising coronavirus cases in Asia and Europe from another.

    Data at the weekend from Johns Hopkins showed the number of new Covid-19 infections fell to its lowest level in two months on Sunday, at only 34,567. Infections had peaked in late June at over twice that level. Oil prices got some support on August 24 after the U.S. president Donald Trump announced an emergency authorization for convalescent plasma to help in treating coronavirus patients. One federal agency of the US Department of Health and Human Services, the Food and Drug Administration (FDA) has given a green light to the emergency use of antibody-rich blood plasma from COVID-19 survivors to treat other patients. The announcement was made by President Trump who is striving to find a cure before the November US presidential elections to support his bid for a second term. At the same time, a top U.S. infectious diseases expert warned on Aug.24 that rushing out vaccines could undermine trials of other promising candidates.

    Europe is also seeing a rise in coronavirus cases while the first documented case of human re-infection with COVID-19 was reported with a man in Hong Kong catching the virus again some four months after first being infected.

    Energy companies moved to cut production at U.S. Gulf Coast oil refineries on Aug.24 after shutting 82% of the area's offshore crude oil output as the rare double-storm assault on key U.S. oil regions threatens to bring days of heavy rains and strong winds this week. Producers have shut more than 1.5 million barrels per day of Gulf Coast offshore oil production, nearly 14% of the nation's total output as the twin threats of Hurricane Marco and Tropical Storm Laura approached. The National Hurricane Center warned that while Marco had weakened to a tropical storm, it still posed a threat to parts of the Gulf Coast. Tropical Storm Laura is still located over Cuba and not expected to make landfall on the U.S. until later in the week.

    Motiva, the Saudi Aramco subsidiary that owns the biggest crude refinery in the U.S. at Port Arthur in Texas, may also shut the refinery later this week. Port Arthur is capable of processing over 600,000 barrels of oil a day. It was shut down nearly completely for two whole weeks in 2017 as a result of flooding from Hurricane Harvey.

    This year's hurricane season has been complicated by the coronavirus pandemic, forcing many people to weigh the risks of leaving their homes and potentially exposing themselves to the virus.

    Elsewhere, the slim chance of a quick return of Libyan crude oil to world markets effectively vanished on Aug.24 as the Libyan National Army under warlord Khalifa Haftar rejected a ceasefire proposal from the UN-backed Government of National Accord. Haftar’s forces had initially been non-committal about the proposal last week, sparking hopes of an end to the 16-month battle for control of Tripoli, the Libyan capital.

    China said on Aug.25 it agreed with the United States to continue pushing forward the implementation of the bilateral Phase 1 trade deal reached earlier this year during a call between the two countries' top trade negotiators.

    We expect bunker prices may demonstrate upward changes today: 3-5 USD up for IFO and 6-10 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