• 2020 September 30 09:36

    MABUX: Bunker market this morning, Sept 30

    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 upward changes on September 29:

    380 HSFO: SD/MT 292.76 (+1.15)
    VLSFO: USD/MT 346.00 (+2.00)
    MGO: USD/MT 410.07 (+2.51)

    Meantime, world oil indexes declined on Sep.29 as fears resurfaced once again about the trajectory of global demand amid prospects of a full winter of coronavirus-driven restrictions on economic activity.

    Brent for November settlement decreased by $1.40 to $41.03 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for November declined by $1.31 to $39.29 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $1.74 to WTI. Gasoil for October delivery lost $4.75.

    Today morning oil indexes continue to fall amid oversupply fears, with U.S. refineries beginning to shed labor.

    The main driver for fuel market is the poor economic forecasts for future consumption amid the COVID-19 pandemic and continued oversupply issues. The global death toll from the COVID-19 pandemic passed 1 million earlier in the week, and case numbers continue to rise, further threatening global economic recovery. To counter the fall in demand, OPEC is unlikely to increase oil production as planned from January next year.

    U.S. oil stockpiles fell last week, but worries remain that oil demand will likely fade amid signs of increasing Covid-19 cases in the U.S. and abroad. Data from the American Petroleum Institute (API) on Sep.29 showed a draw of 831,000 barrels for the last week (it was expected a build of 1.4 million barrels), following the previous week’s build of 691,000 barrels. However, this was insufficient to hold back the fall in prices. Investors now await crude oil supply data from the U.S. Energy Information Administration (EIA), due later in the day.

    In signs of a protracted oversupply problem, U.S. refineries are beginning to lay off workers. Marathon Petroleum Corp, the U.S.’ largest refiner, looking to widespread job cuts to help maintain their bottom line. Refineries globally are feeling the pressure of a hugely depressed global air travel industry, with many refineries attempting to blend their excess jet fuel into other products and some installations looking likely to face shutdown.

    The uncertainty over U.S. presidential elections is also cause for concern, with President Donald Trump refusing to guarantee a peaceful transition of power should he be ousted. The first presidential election debate was earlier this morning and was highly combative.

    Libya's Sarir oilfield, which was producing more than 300,000 barrels per day last year, restarted output after eastern forces lifted an eight-month blockade on energy facilities. That also pressures the oil indexes.

    We expect bunker prices may demonstrate downward changes today: 6-8 USD down for IFO and 3-5 USD down for MGO.

2020 October 24

11:06 CSD Hussein Tantawy successfully launched at IHC's shipyard in The Netherlands

2020 October 23

18:09 Baltic Data Flows: New HELCOM project seeks to harmonize and harvest environmental data at a pan-Baltic level
17:47 ICS welcomes legally binding agreement to significantly improve carbon efficiency of shipping
17:10 Anti-submarine ship Vice-Admiral Kulakov completes its business call to Greece
16:32 Bollinger Shipyards delivers 41ST fast response cutter to the U.S. Coast Guard
16:05 APM Terminals Poti signs a contract with Poti New Terminals Corporation for the development of dry bulk facility in the Poti Sea Port
15:31 HySHIP project clinches EUR 8M funding award
15:13 Krasnoye Sormovo shipyard launches dry cargo carrier Alfa Mercury
14:50 Self-propelled crane built for RF Navy’s Pacific Fleet arrived in Vladivostok having passed the Northern Sea Route
14:25 Equinor changes chief financial officer
14:06 Membrane technologies of GTT is an optimal solution for gas carriers, LNG bunkering and storage
13:23 MarineMax participates in the Fort Lauderdale International Boat Show
13:05 Wärtsilä selected to power new ‘super ferries’ series for P&O Ferries
12:55 An agreement made to explore the possibilities of green hydrogen export from Iceland to Rotterdam
12:04 Tallink Silja AB is forced to issue redundancy notice to Swedish crew members
11:41 Tallink to become the first shipping company to receive Sustainable Travel Finland label
11:09 Austal to further expand Australia support business through acquisition of BSE Maritime Solutions
10:53 NYK to make Gazocean a wholly owned subsidiary
10:19 Bunker market sees slight change of prices in the Port of Saint-Petersburg, Russia (graph)
09:55 National Gas Vehicle Association to propose priority measures for LNG bunkering support
09:33 Oil prices continue decreasing
09:18 Baltic Dry Index as of October 22
08:49 MABUX: Bunker market this morning, Oct 23
08:19 CMA CGM announces GRR from Asia to West Africa

2020 October 22

19:00 “K”Line online training for seafarers obtained DNV GL certification
18:04 Milaha reports QR 384 million in net profit for the nine months of 2020
17:41 Port of Los Angeles receives $9.9 million infrastructure development grant
17:36 Feasibility report on ship repair cluster development in Arkhangelsk Region to be completed in November 2020
17:29 MABUX releases weekly review of bunker market
17:05 Gothenburg Port Authority CEO becomes the member of newly established Electrification Commission
16:44 ABP’s ports in East Anglia keep agricultural products moving
16:14 ONE adds new service from Asia to Indian Subcontinent
15:50 Bunker prices are flat in the Far East ports of Russia (graph)
15:34 EU awards funding to Kapellskär-Naantali Maritime Bridge environmental initiative
15:04 Environmental Protection Agency signs a proposed rule for reducing the environmental impact of discharges
15:03 ABS and TCOMS join forces to research next generation marine & offshore and maritime solutions
14:44 Floating nuclear power plant covers over 50% of electric energy demand in Chukotka
14:20 The average value of the Ningbo Container Freight index 1 in October increases by 1.2%
14:20 MPA-SSG-WSG joint media release: 1000 traineeships, company attachments and training opportunities for more Singaporeans to join maritime sector
14:03 Global Ports Holding signs sale and purchase agreement for Port Akdeniz
13:57 Port of HaminaKotka specifies minimum requirements for berthing and unberthing services
13:25 Rosmorport's Murmansk Branch performed pilotage of Sedov barque
13:01 Container throughput of Chinese ports still decease slightly in January - September 2020
12:52 Zhigalovo Shipyard lays down fifth ship of Project 3052 for Rechvodput
12:26 MPA-ABS MoU to advance R&D activities in maritime Singapore
12:13 Multi-million-euro project transforms CO2 into green raw material in North Sea Port
11:56 Private investments in infrastructure of Arkhangelsk port totaled RUB 25 billion in 7 years
11:18 Port of Long Beach posts results for in September 2020
11:11 Russian President Vladimir Putin signs order on merging Sevmorzavod into USC
10:07 ZIM offers new service to the UAE
09:58 Sea Port of Saint-Petersburg expands its cargo space
09:36 Oil prices continue decreasing in response to growing US reserves
09:19 Baltic Dry Index as of October 21
09:05 The Grimaldi Group takes delivery of the Eco Valencia and Grande Florida
09:03 MABUX: Bunker market this morning, Oct 22
08:52 MSC Cruises to implement next-generation air sanitation system developed by Fincantieri for the cruise industry

2020 October 21

18:30 Hyundai Motors to ship 50 hydrogen trucks via the port of Antwerp
18:06 NYK Group dry bulk carrier rescues sailors off the coast of Indonesia
17:36 MAN Energy Solutions to lead Danish consortium developing ammonia-fuelled engine for Maritime sector
17:19 NSR cargo traffic to exceed 31 million tonnes in 2020 – Aleksey Likhachev