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  • MABUX: Bunker market this morning, Oct 01
  • 2020 October 1 09:56

    MABUX: Bunker market this morning, Oct 01

    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 downward changes on September 30:

    380 HSFO: USD/MT 289.07 (-3.69)
    VLSFO: USD/MT 342.00 (-4.00)
    MGO: USD/MT 405.86 (-4.21)


    Meantime, world oil indexes demonstrated irregular changes on September 30.

    Brent for November settlement decreased by $0.08 to $40.95 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for November increased by $0.93 to $40.22 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $0.73 to WTI. Gasoil for October delivery added $4.00.

    Brent closed last night Wednesday unchanged meanwhile the U.S. crude price rose on hopes that a U.S. economic stimulus deal would support the market, even as concerns about the coronavirus pandemic continued to loom over demand forecasts.

    U.S. House of Representatives Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin both expressed hope for a breakthrough on coronavirus relief, as the House stood poised to vote on a new $2.2 trillion Democratic coronavirus bill. With pressure mounting ahead of the Nov. 3 election, Mnuchin said he thought he and Pelosi could “reach a reasonable compromise” and would know in the next day or two whether they had an “overall understanding.”

    “The race is on to a stimulus bill,” said Bob Yawger, director of energy futures at Mizuho in New York. “It’s good for all industries, and especially for oil, because it is a demand indicator for crude demand,” Yawger said. While Yawger remains pessimistic about a deal coming to fruition, he said it is lending temporary strength to the market.

    The November Brent contract expired on Wednesday, to be replaced by the December contract, which settled up 74 cents at $42.30 a barrel.

    Also supporting prices, U.S. weekly crude inventory data showed stockpiles fell by 2 million barrels in the week to Sept. 25, a deeper draw than analysts had expected.

    Today’s Market opening

    Oil holds steady this morning Thursday on hopes for U.S. stimulus agreement.
    Oil prices were little changed in early trade on Thursday after U.S. lawmakers postponed a vote on a $2.2 trillion coronavirus relief package in hopes of reaching a bipartisan deal, while rising infections fuelled demand fears.

    U.S. West Texas Intermediate (WTI) crude futures slipped 1 cent to $40.21 a barrel at 0146 GMT, after jumping 2.4% on Wednesday.
    Brent crude futures rose 3 cents to $42.33 a barrel, after falling 0.2% overnight.

    Don’t forget Brent Front Month contract changed today from November to December delivery month. The difference between the two contracts is $1.38 plus at closing last night, which will push bunker prices based on Brent upward today.

    U.S. Treasury Secretary Steven Mnuchin said talks with House Speaker Nancy Pelosi made progress on COVID-19 relief legislation.

    WTI jumped on Wednesday after data from the U.S. Energy Information Administration showed crude stocks and distillate inventories, which include diesel and jet fuel, fell more than expected in the latest week.

    But demand worries remain. Concerns are growing in New York, where COVID-19 infection rates continued to climb. The pandemic has infected more than 7.2 million and killed more than 206,000 people in the United States.

    Growing supply from the Organization of the Petroleum Exporting Countries (OPEC) also weighed on the market, with output having risen by 160,000 barrels per day in September from August as some Libyan installations restarted and Iran’s exports grew, a Reuters survey found.
    It is hard to see any upside for Oil prices in a near future.

    We expect Fuel Oil bunkers 380 HS and VLSFO to rise between 6.0 – 8.0 USD/MT and MGO up 4 USD/MT. The market is trading slightly lower.




2021 December 4

15:21 MOL and Flotation Energy to explore offshore floating wind in Japan
14:51 Sembcorp Marine's LMG Marin to design world’s first zero-emission fuel tanker
13:09 USCG, royal Turks and Caicos Islands Police Force sign MOU
12:34 The Hurtigruten terminal has been renamed Jektevik terminal
11:02 Port of Rotterdam Authority embarks on partnerships with three promising maritime companies

2021 December 3

18:26 Hydrographic Company set to establish Center of Engineering and Technical Expertise
18:07 ABP Humber complete oil spill incident management exercise
17:52 Wärtsilä OPTI-DP Engagement Tool supporting the marine industry to configure optimised propulsion arrangements for DP vessels
17:45 Ocean Network Express conducts a joint crisis management drill with Seaspan Corporation
17:40 Transport Strategy of Russia until 2030 with forecast until 2035 published on official portal
17:22 MSC adds Hamburg to its feeder service „Baltic Loop 3“
17:02 Vyborg Shipyard launches KMT01 trawler named Kara Sea
16:32 South African minister visits Port of Rotterdam to discuss hydrogen exports
16:05 PD Ports contracts Konecranes to convert four RTGs to electric
15:31 Four Jones Act CTVs built to ABS Class to support U.S. offshore wind development
15:17 ABS, NYK, MTI and WinGD team-up to verify design with modeling and simulation
14:03 Jurong Port joins the Castor Initiative
13:30 ABS awards sustainability notations to two Harvey Gulf vessels
13:04 Kapitan Dranitsyn and Admiral Makarov icebreakers reinforced icebreaker group on NSR
12:57 Royal IHC delivers key components for “R.B. Weeks” to Weeks Marine
12:42 Icebreaker assistance season begins in White Sea waters
12:17 Sailing practice of 2021 on Mir sailing ship successfully completed
11:21 NCSP Group's consolidated revenue for 9M’2021 rose by 9.3%
10:53 Foreign contractors can be involved to build LNG-powered icebreakers for Arctic
10:38 MABUX: Bunker prices may demonstrate multidirectional changes with tendency to grow on Dec 3
10:29 The Korean Register publishes guidance for containers loading on bulk carriers
10:20 MSU-1 to perform reconstruction of Gorodetsky hydrosystem locks
09:57 Annual repair dredging in Gulf of Ob from 2023 estimated at 5 million cbm
09:35 Crude oil prices rise on OPEC+ decision to keep oil output increase in January
09:18 Baltic Dry Index as of December 2

2021 December 2

18:36 NRP buys handysize drybulk carrier
18:06 2M Alliance’s Far East liner service „AE 7/Condor“ calls at Hamburg again
17:54 Icebreaker assistance season starts in Big Port St. Petersburg on December 7
17:36 Vitol is first customer to approve completely digital inspection of cargo tanks
17:15 BIMCO launches new contract for employment of security escort vessels
16:45 GTT will design the tanks of four new LNG carriers ordered by Daewoo Shipbuilding & Marine Engineering to operate in Arctic waters
16:25 MOL announces delivery of next-generation coal carrier 'EeneX' series
16:05 PSA & ONE launch environmentally friendly barge service at Jurong Island Terminal
15:42 “K” Line conducts trial use of marine biofuel for decarbonization on car carrier
15:38 Wärtsilä wins order to supply cargo handling system for second LNG bunker vessel being built by Fincantieri Bay Shipbuilding
15:23 Verifavia launches industry’s first real-time carbon intensity indicator dashboard
14:55 Two more LK-60 icebreakers needed for regular year-round navigation on Northern Sea Route
14:28 Equinor and SSE reach financial close on the third phase of the world's biggest offshore wind farm
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13:42 MABUX: Bunker Weekly Outlook, Week 48, 2021
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12:40 Rolls-Royce to supply eight mtu engines for new Svitzer tugs in Brazil
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12:00 NORDEN simplifies business unit structure
11:36 Norway’s Eksfin tops NOK 10bn in offshore wind financing as Dogger Bank C reaches financial close
11:34 Annual throughput of Severnaya Zvezda project on Taimyr peninsula to exceed 7 million tonnes from 2026
11:10 MABUX: Uncertainty on Global bunker market to continue on Dec 02
10:00 Digital Twin Conference 2022 to be held virtually on 11-12 May 2022
09:33 Crude oil prices are rising in expectation of OPEC+ meeting
09:19 Baltic Dry Index as of December 1

2021 December 1

19:15 PortNews to hold Ship Repair, Modernization and Components Conference on 20 September 2022 in Saint-Petersburg
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17:42 8 new fuel-efficient ships to join the X-Press Feeders fleet
17:26 Danish Smyril Lines Cargo starts second service between Iceland, the Faroe Islands and Rotterdam