• 2020 September 24 08:40

    MABUX: Bunker market this morning, Sept 24

    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 September 23:

    380 HSFO: USD/MT 293.60 (+0.16)
    VLSFO: USD/MT 339.00 (+1.00)
    MGO: USD/MT 406.29 (-0.47)


    Meantime, world oil indexes rose on Sep.23 after the Energy Information Administration reported an oil inventory draw.

    Brent for November settlement increased by $0.05 to $41.77 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for November rose by $0.13 to $39.93 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $1.84 to WTI. Gasoil for October delivery added $3.50.

    Today morning oil indexes decline on concerns the economic recovery in the United States, the world's biggest oil consumer, is slowing as the coronavirus outbreak lingers and a resurgence in European cases led to new travel restrictions there.

    According to government data, oil stockpiles declined last week, but less than expected - by 1.6 million barrels. It was expected a draw of 2.3 million barrels. Seven of the previous eight weeks had seen falling inventory. The data came a day after the American Petroleum reported a sizeable decline in gasoline stocks, coupled with a modest build in crude oil stocks. In gasoline, the EIA estimated an inventory draw of 4 million barrels for the week to September 18, compared with a decline of 400,000 barrels for the previous week. This also supported the prices. Crude stored at Cushing, Oklahoma, rose by 4,000 barrels.

    Still, fuel demand in the U.S. remains subdued as the coronavirus pandemic limits travel. The four-week average of gasoline demand was 8.5 million barrels per day last week, the government data showed, down 9% from a year earlier. Moreover U.S. business activity slowed in September, U.S. Federal Reserve officials flagged concerns about a stalling recovery, and Britain and Germany imposed restrictions to stem new coronavirus infections.

    The EIA also said the OPEC+ production cuts and curtailments in the United States are set to help global inventories to continue drawing down for the rest of the year and most of next year, resulting in a relatively balanced market by the end of 2021. The OPEC+ deal and the production drops elsewhere, most of all in North America, have brought global supply below the level of demand for the first time since the middle of 2019, the EIA estimated, noting that the supply deficit has helped bloated global inventories to decline since June.

    At the same time, while some say that global inventories are declining and will continue to draw down through the rest of the year, others have flagged faltering demand recovery and resurging COVID-19 cases as reasons for being careful about the outlook on inventory drawdowns in the coming months.

    On the supply side, the market remains wary of a resumption of exports from Libya, although it is unclear how quickly it can ramp up volumes. Libya's National Oil Corp (NOC) seeks to boost output to 260,000 bpd by next week. NOC reopened another port, the third to resume operation in less than a week, as a political truce takes hold in the OPEC member’s devastating civil war. The NOC allowed exports to resume days earlier from the Hariga and Brega terminals. The three ports had been shut down since January as part of a wider blockade. Es Sider and Ras Lanuf, the country’s largest and third-largest oil ports, remain closed, as does the Zawiya terminal, which ordinarily exports crude from the country’s biggest field, Sharara.

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




2020 October 20

18:30 APM Terminals expands API offering and terminal coverage
18:17 CMA CGM announces FAK rates from West Med, Adriatic, Black Sea & East Med to the Indian Subcontinent
18:00 Okskaya Shipyard launches second multipurpose dry cargo carrier of Project RSD59 for Astrol
17:36 Equinor signs contract with Skanska for building site preparation and the construction of jetty facilities for the CO2 receiving terminal
17:03 Van Oord becomes the shareholder in Saare Wind Energy
16:38 Wan Hai Lines to launch China – India Service VI (CI6) Service
16:28 Tiksi port expansion is expected as new fields can be discovered in the region
16:03 Jotun offers Superyachts unique lifecycle support with launch of JotunCare
15:44 Rosmorport collects applications for debut bonds in amount of RUB 4 billion
15:30 DCSA publishes standard data definitions to enable just-in-time port calls
15:12 ESPO congratulates Port of Valencia for renewing PERS certification
14:23 Samsung Heavy Industries again chooses Wärtsilä cargo handling system design for new VLEC vessels
13:41 Modernization of port Tiksi to build up throughput to 300,000 tonnes
13:25 Port of Antwerp participates in developing and testing a private 5G network
13:20 Bunker prices are slightly up in the Far East ports of Russia (graph)
13:02 Port Houston container volumes up 1% to 251,524 TEUs in September 2020
12:33 RF Ministry of Economic Development to allocate RUB 2.8 billion for creation of port SEZ in Astrakhan Region
12:19 DNG Energy receives a licence for LNG bunkering in Coega
11:00 KSS Line signs with Hyundai Global Services for smart ship solution powered by Inmarsat and Intellian
10:58 ASW ship Vice-Admiral Kulakov and support vessels of RF Navy’s Northern Fleet enter Greece
10:37 Admiral Makarov frigate of RF Navy’s Black Sea Fleet passes Black Sea straits
10:12 LUKOIL and Rostec sign cooperation agreement
10:02 MABUX: Bunker market this morning, Oct.20
09:49 Shipbuilding Corporation “Ak Bars” to tell about passenger ship Chaika at 4th “LNG Fleet, LNG Bunkering and Alternatives” conference
09:26 Oil prices decrease amid second COVID-19 wave concerns
09:14 Baltic Dry Index as of October 19

2020 October 19

18:11 CMA CGM to launch the East Med - Black Sea Express
18:01 Taganrog coastal station of NAVTEX service obtains certificate of conformity
17:48 BPA to host 5G workshop
17:27 FESCO to supply India's research stations in Antarctica for the third year in a row
17:06 Valenciaport registers the record with 477,194 containers handled in September 2020
16:46 4th “LNG Fleet, LNG Bunkering and Alternatives” conference to be held online on 28 October 2020
16:05 Milaha obtains “ISO 27001” certification for Information Security Management System
15:49 Rosmorport's sailing ship “Mir” to sail around the world in 2022-2023
15:12 Mitsubishi Shipbuilding receives approval in principle for LNG fuel gas supply system from Bureau Veritas
15:04 A.P. Moller - Maersk integrates the European customs services specialist KGH Customs Services
14:35 Harvey Gulf orders Wärtsilä Energy Storage for another four LNG-powered Supply Vessels
14:30 Average spot market price for Russian M100 product rose to RUB 11,894 pmt
14:11 GTT announces the acquisition of Areva H2Gen
13:58 Project on construction of fish terminal “Udarnik” registered as second resident of Arctic Capital PDA
13:17 Ukraine's January-September 2020 coal imports down 15%
13:11 ZIM and Alibaba.com sign strategic cooperation agreement
12:52 Port of Riga sets itself new goal to become region's leader in grain handling
12:33 TransContainer increased container transportation volumes by 15.1% YoY
12:04 Port of Oakland names Acting Communications Director
11:47 Blagoverf shipyard lays down buoy tender of project 3052 for Rechvodput
11:06 EPS collaborates with GoodFuels for marine biofuel bunker trial
10:42 Ocean Yield ASA acquires two suezmax newbuildings with long-term charters
10:40 First sections for ice-resistant platform LSP “A” shipped to outfitting yard
09:58 North Carolina Ports awarded $16 million grant for infrastructure improvements
09:39 MABUX: Bunker market this morning, October 19
09:25 Week beginning is marked by oil prices decrease
09:12 Baltic Dry Index as of October 16

2020 October 18

16:05 Inmarsat and Cobham SATCOM enable Maldives fisheries sustainability with Fleet One
15:58 JAXPORT now offers expanded service to the West Coast of South America through ONE
14:11 Nordic American Tankers says full financing of Suezmax duo is in place
13:14 Bright outlook at Gibdock as bookings remain solid
12:27 Supply contracts signed for main equipment for Squadron 2020 project
11:09 Port of Gdansk inks LoI with Ukrainian Sea Ports Authority

2020 October 17

12:54 CMA CGM announces FAK rates from West Med, Adriatic, Black Sea & East Med to Far East