• 2020 October 20 10:02

    MABUX: Bunker market this morning, Oct.20

    MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO (Gasoil) in the main world hubs) changed irregular on October 19:

    380 HSFO: USD/MT 299.08 (+0.70)
    VLSFO: USD/MT 352.00 (-2.00)
    MGO: USD/MT 415.11 (-2.02)


    Meantime, world oil indexes decreased on Oct.19 after China released data showing a smaller-than-expected rise in GDP during the third quarter and on Libya’s plan to boost output.

    Brent for November settlement decreased by $0.31 to $42.62 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for November delivery fell by $0.05 to $40.83 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $1.79 to WTI. Gasoil for November delivery lost $3.75 – $341.00.

    Today morning oil indexes continue slight downward trend.

    China reported a 4.9% growth in GDP year-on-year for the third quarter earlier in the day, smaller than the 5.2% growth in forecasts. However, other indicators showed a strong recovery overall for the world’s second largest economy. Industrial production grew 6.9% year-on-year and retail sales grew 3.3% year-on-year. The unemployment rate was 5.4%, down from the previous quarter’s rate of 5.6%.

    The IEA said that the oil market has stabilized, with stocks drawing 0.9 million bpd in the third quarter, but that the outlook is fragile. As per Agency, the rising cases of covid-19 in many parts of the world surely raises doubts about the robustness of the anticipated economic recovery and thus the prospects for oil demand growth.

    The OPEC+ Joint Ministerial Monitoring Committee met virtually on Oct.19 to discuss the alliance’s production curbs. A renewed rise in the COVID-19 cases and a stalling demand recovery has prompted calls for the alliance to scrap their plan of easing output cuts from 7.7 million barrels a day to 5.8 million barrels a day on Jan. 1. However, it is expected that any concrete decisions will be taken only on the group meetings on the 30 November and 1 December.

    The global count of confirmed COVID-19 cases climbed above 40 million on Oct.19, while the death toll rose to 1.1 million. The number of new U.S. infections fell below 50,000, the lowest in nearly a week, as deaths neared 220,000 and moving averages suggested the spread is picking up steam. Several European countries have moved to increase restrictions on activity as the number of infections have risen.

    Libya has significantly boosted its production after the easing of a blockade by eastern forces in September. The 70,000-barrels-per-day Abu Attifel oilfield is expected to begin its restart on Oct. 24 after being shut down for months.

    Britain is urging businesses to step up preparations for a no-deal exit from the European Union when transitional arrangements end. Talks between Britain and the EU on a trade deal ended in recrimination last week, with both sides saying the other needed to compromise. British Prime Minister Boris Johnson said on Oct.16 there was no point in continuing discussions and it was now time to prepare for an exit without a trade deal. Both parties will hold a call with business leaders this week, while 200,000 traders will receive a letter setting out new customs and tax rules.

    We expect IFO bunker prices will be steady today while MGO prices may fall by 3-6 USD.




2024 March 29

10:43 Oasis Marine develops solutions for offshore hydrogen bunkering
10:03 Petrofac secures contract extension with ONEgas West in the UK market

2024 March 28

18:05 Jan De Nul, ENGIE and Equans launch a pilot project centred around the use of Vanadium Redox Flow batteries
17:35 Latvian port equipment manufacturer Bleste introduces new bulk handling ‘bucket’
17:05 Investors upgrade Navios Maritime Partners
16:25 DEME reports 22% increase in the orderbook and a record-high turnover of 3.3 billion euros in 2023
16:14 MABUX: Bunker Outlook, Week 13, 2024
15:41 AD Ports Group announced the opening of Saadiyat Marina & Ferry Terminal and Rabdan Marina
15:11 Sydney invests $11.5 million in two new operational vessels designed by Incat Crowther
14:55 China’s Jinzhao wins Peru $405m port construction contract
14:13 APM Terminals Moín handled six million TEU
13:48 ClassNK grants Innovation Endorsements for Products & Solutions to two innovative initiatives by MOL
13:37 Konecranes launches its flagship Konecranes X-series industrial crane
12:53 United European Car Carriers UECC spearheads collaboration with industry leaders to advance CNSL as a sustainable marine fuel
12:26 Ocean Network Express announces Transpacific service
11:48 Yang Ming announces 2025 Trans-Pacific service network
11:24 Fincantieri signs contract for the supply of two PPAs to Indonesia
10:42 Maersk transported more than 660,000 TEU using clean fuel in 2023
10:23 Documentation delays push industry costs to $3bn
09:48 PONANT and FARWIND Energy partner to develop green hydrogen refueling solutions

2024 March 27

18:22 Bureau Veritas awards world’s first prototype certification for SolarDuck’s floating offshore solar solution
17:58 The recently converted Allseas's shallow water pipelay barge starts preparations for its first commercial project
17:38 The Port of Rotterdam calls on the European Commission and Parliament to focus on actively promoting green energy
15:23 SEFE to become sole shareholder of WIGA
14:53 Ocean Installer secures yet another SLM contract with Equinor
14:23 Cadeler signs offshore wind turbine installation contract for the vessel Wind Scylla
13:42 Carnival Cruise Line orders 5th Excel-class cruise ship
13:11 Maersk and MSC overcharging cargo owners for EU ETS, says T&E
12:52 The Port Authority of Valencia launches the ZAL project in the Port of Valencia
12:11 Clarkson Port Services and Peak Group collaborate to deliver Port Agency services across the North Sea
11:42 Wan Hai Lines holds ship naming ceremony for new vessels
11:24 Consolidated shipping lines EBIT loss was $1.44 billion in Q4 2023: Sea-Intelligence
10:49 Seaspan Shipyards receives long-term contracts for the pre-construction work of the the Canadian Coast Guard's first six multi-mission vessels
10:14 Woodside completes sale of 10% scarborough interest

2024 March 26

18:02 COSCO Shipping Lines introduces new Americas service
17:30 Davie awarded first contract for design of icebreaker fleet under Canada’s National Shipbuilding Strategy
17:04 Sanctions complicate Arctic LNG ship sales, Hanwha Ocean says - Bloomberg
16:57 Terntank places an order for 1+1 additional wind/ methanol-ready hybrid tanker
16:28 BW LNG completes acquisition of two TFDE vessels from Stena Bulk
15:50 Hanwha Ocean develops VR-based special vehicle simulator
15:20 TotalEnergies and SINOPEC join forces to produce sustainable jet fuel at a SINOPEC's refinery
14:52 Wärtsilä Lifecycle Agreement to guarantee operational reliability of new wind farm installation vessel
14:23 Hudong-Zhonghua launches two LNG carriers
13:51 Cargo ship hits Baltimore’s Key Bridge
13:12 Final sanctioned tanker with Russian Sokol oil to reach China port - Reuters
12:42 Adani Ports acquires 95% of Odisha's Gopalpur Port from SP Group for $162 million
12:21 IHI and Yara Clean Ammonia agree to jointly assess clean ammonia business collaboration
11:41 Yara Clean Ammonia and Azane granted safety permit to build world's first low emission ammonia bunkering terminal
11:16 Wartsila and Royal Caribbean Group celebrate 15 years of collaboration on digital transformation
10:46 A global carbon tax on shipping is coming, says ABS Chairman and CEO
10:21 Eni, Fincantieri and RINA establish partnership for maritime transport decarbonization

2024 March 25

18:07 The Maritime and Port Authority of Singapore continues to investigate reports of oil spills off the port of Tuas
17:31 “K” Line, NIPPON HAKUYO and OPT Gate sign an agreement for a new fire detection system for car carriers
17:07 Greek merchant fleet recorded slight decline in January 2024
16:47 Hanwha Ocean Plans to develop green technology and naval ships
16:25 U-Ming Singapore and ITOCHU sign milestone MoU for the joint development of ammonia dual-fuel and de-carbonized vessels
15:34 Svitzer targets methanol-fuelled MAN 175DF-M engine for tug application
15:04 Wallenius Wilhelmsen signs contracts for four 9,300 CEU vessels with China Merchants Jinling Shipyard
14:40 Taiwan International Port to upgrade terminal facility at Kaohsiung
13:59 Сruise ship Carnival Freedom catches fire near Bahamas
12:59 Hanwha Ocean wins 2.4 tln-won order for 8 LNG ships
11:16 Inland Ports meet in Paris to talk about the innovation potential of inland ports
10:50 IMO agrees possible outline for maritime “net-zero framework”
10:24 Hapag-Lloyd to continue to avoid the Red Sea route
09:58 QatarEnergy enters time charter agreements with Nakilat for the operation of 25 LNG vessels

2024 March 24

16:18 Inchgreen Marine Park upgraded as part of £11m investment
15:14 A ribbon-cutting ceremony for Solent Rail Terminal Rail was held at the Port of Southampton
14:08 ESNA and Strategic Marine join forces to offer Surface Effect Ship (“SES”) Crew Transfer Vessels (“CTV”) to the market
13:07 First LNG powered vessel calls at HIP
12:49 Inter-array cable installation completed at Neart na Gaoithe offshore wind farm