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  • MABUX: Bunker market this morning, Aug 26
  • 2020 August 26 09:08

    MABUX: Bunker market this morning, Aug 26

    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) rose slightly on August 25:

    380 HSFO: USD/MT 310.85 (+1.27)
    VLSFO: USD/MT 363.00 (+2.00)
    MGO: USD/MT 444.58 (+3.94)


    Meantime, world oil indexes rose on Aug.25 supported by production cuts in the U.S. Gulf Coast as Tropical Storm Laura was forecast to become a major hurricane, while rising coronavirus cases in Asia and Europe capped gains.

    Brent for October settlement increased by $0.73 to $45.86 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for October delivery rose by $0.73 to $43.35 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $2.51 to WTI. Gasoil for September delivery gained $7.75 – $378.50.

    This morning, global oil indexes do not have any firm trend so far and change irregular.

    Energy companies moved to cut production at U.S. Gulf Coast oil refineries 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. In addition, roughly 281 platforms, nearly 44% of the Gulf’s total, had been evacuated as Tropical Depression Marco and Tropical Storm Laura moved closer to the Gulf Coast. Also, six rigs, or 60% of the total in the region, had been evacuated. However, the risk of a major double hit has lessened. Storm Laura was still expected to become a major hurricane but storm Marco has weakened.

    A top U.S. infectious diseases expert warned that rushing out vaccines could undermine trials of other promising candidates, following a boost to markets after U.S. regulators authorised the use of blood plasma from recovered COVID-19 patients as a treatment option. 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.

    Over the next few months, crude prices could come under further pressure because the oil supply is also set to increase from the United States, where producers are restoring shale production. As per a Rystad Energy,  most U.S. operators are set to restore nearly all shut-in oil volumes by the end of the third quarter, with only a handful maintaining some level of curtailment for the rest of the year. Last week, the oil rig count in the United States saw its largest weekly increase since January, with most of the rigs added in the Permian Basin.  This could be the sign that U.S. oil production is beginning a slow recovery.

    Venezuela’s December 2020 National Assembly elections are fast approaching. The U.S. appears to have lost the ability to spark regime change in Venezuela. Harsher sanctions and the Latin American country’s growing forced austerity has seen a hard-pressed Maduro seek closer ties with Russia, giving Moscow ever greater control of Venezuela’s vast oil reserves and potential productive capacity. This not only boosts Russian geopolitical standing but gives Moscow greater ability to influence oil prices by increasing its bargaining power with OPEC, with which Russia has partnered since 2016 in a series of petroleum production cuts to bolster prices.

    The spot price of liquefied natural gas for delivery to north Asia has more than doubled since hitting an all-time low earlier this year. The spot price LNG-AS ended last week at $4.10 per million British thermal units (mmBtu), its highest since mid-January and 122% above the record low of $1.85 touched in separate weeks at the beginning and end of May. However, the recovery in spot prices may not be driven mainly by improving demand, rather it may be linked to rising prices of natural gas in the United States and Europe due to a hotter than usual summer boosting air-conditioning demand for electricity.

    The American Petroleum Institute (API) reported on Aug.25 a draw in crude oil inventories of 4.524 million barrels for the week ending Aug. 21. Forecasts had predicted an inventory draw of 3.694-million barrels. In the previous week, the API reported a draw in crude oil inventories of 4.264 million barrels, after analysts had predicted a draw of 2.670 million barrels.

    We expect IFO bunker prices may rise today by 2-4 USD, MGO prices may add 4-7 USD.




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