• 2020 October 22 17:29

    MABUX releases weekly review of bunker market

    High uncertainties about COVID-19 and the economic recovery continue to weigh on the fuel market and bunker prices. It is clear now that 2020 would not be the year of oil market balance as the world still has a lot of excess crude and oil product stocks to process.

    The World Bunker Index MABUX turned into slight downward trend for a week. The 380 HSFO index fell from 297.23 to 296.38 USD/ MT (-0.85 USD), VLSFO lost 6.00 USD globally: from 353 to 347 USD / MT while MGO declined by 6.31 USD: from 417.89 down to 411.58 USD/MT. The Global Scrubber Spread (SS) (price difference between 380 HSFOs and VLSFOs) has narrowed by 3.69 USD and averaged USD 53.15 (56.84 USD a week ago).

    The SS Spreads in Rotterdam and Singapore have largely converged, and on October 20 they were even equal (55 USD). SS Spread in Rotterdam has ranged during the week from 57.00 USD (15.10) down to 50.00 USD (21-22.10). Average value of SS spread for the week has decreased by 6.33 USD from 58.83 USD to 52.50 USD.

    In Singapore SS Spread has also changed downward during the week and fell by 5 USD: from 63 USD to 58 USD. Average weekly SS Spread has lost 11.50 USD: from 70.33 USD a week ago to 58.83 USD today.

    European Commission has presented methane emission reduction strategy. The strategy, which sets out measures to cut methane emissions in Europe and internationally, presents legislative and non-legislative actions in the energy, agriculture and waste sectors. One of the priorities under the strategy is to improve measurement and reporting of methane emissions. The level of monitoring currently varies between sectors and Member States and across the international community.

    Scrubber manufacturer Yara Marine Technologies has forecast that the market for exhaust gas cleaning systems (EGCS) will bounce back when the COVID-19 pandemic is brought under control. Yara also argues that there are not only commercial but also environmental benefits to using scrubbers rather than VLSFO, as the equipment helps to reduce other pollutants besides dealing with Sulphur and there has been no scientific evidence that scrubbers could damage the environment.

    Bunker-One – America estimates a net fall in bunker demand of 9.3% in Q2 2020 versus Q2 2019, but there have been sharp regional differences in the severity of the decline. The US Gulf Coast has taken a knock, with bunker demand down by 30%. The Panama and Long Beach/Los Angeles markets have each witnessed a 15% slump, the Fujairah and South African markets have fallen by 20%, and Hong Kong has experienced a 25% decline in demand.




2020 November 24

11:32 Port of Hamburg сontainer throughput down 4.9 percent to 2.3 million TEU in Q3 2020
11:25 A WWII air bomb defused near Novorossiysk based CPC Terminal
11:09 CMA CGM to launch the TURKEY MED EXPRESS 2
10:04 MABUX: Bunker market this morning, Nov 24
09:46 Crude futures prices rise on vaccine hopes
09:22 Baltic Dry Index as of Nov 23
09:02 East Coast Australia JIP delivers a new interactive dashboard for LNG forecast

2020 November 23

18:24 North P&I Club pre-renewal report confirms corrective response to market challenges
18:00 RF Government is set to reorganize the structure of development institutions
17:13 4th International Congress “Hydraulic Engineering Structures and Dredging” slated for 25-26 February 2021
16:34 Damen completes Eidsvaag Opal conversion
16:28 STLC and VEB-Leasing to be consolidated into Unified Leasing Company
16:05 Aker Solutions wins maintenance and modifications contract in Brazil from Equinor
15:41 Vard secures contract for eight marine robotic vessels
15:17 RF Transport Ministry confirms its intention to introduce investment charges in seaports from 2021
14:53 Hydrographic boat of Project 19920 joins RF Navy’s Northern Fleet
14:31 Concordia Maritime CFO resigns from his position
14:09 Friendship 2020 joint exercise of the Egyptian Navy and the Russian Navy Bridge ends at the Black Sea Fleet
13:25 Ningbo Containerized Freight index rises by 19.8% in November 2020
12:34 Average spot market price for Russian M100 product climbed to RUB 13,184 pmt
12:12 The UK could increase its ambitions for renewable energy at a lower cost to consumers, new Wärtsilä analysis finds
12:02 Chinese ports container throughput down 0.03% to 217.2 million TEU from January to October 2020
11:53 Global Ports and TransContainer launch expedited delivery of pellets from Siberia to Europe via Saint Petersburg
11:11 Brodosplit lays keels for two coastal patrol vessels
10:19 HELCOM revamps its tool for tracking implementation progress
10:12 MacGregor supports China’s Lingshui 17-2 gas field development
09:57 MABUX: Bunker Market this morning, Nov 23
09:41 Container throughput of port Shanghai (China) in 10M’20 fell by 1.7%
09:25 Oil prices rise on hope for demand recovery
09:12 Baltic Dry Index as of November 20

2020 November 22

16:23 Ørsted and NABTU sign landmark MOU for U.S. offshore wind workforce transition
15:18 Port Canaveral cruise terminal parking to feature E-PASS® contactless transaction technology
14:21 USCG Cutter Stratton returns home after crewmembers test positive for COVID
13:26 New Wallenius SOL service delivers 200,000 extra tonnes of paper reels to PSA Zeebrugge terminal
12:18 Port NOLA's Brandy D. Christian receives 2020 C. Alvin Bertel Award
11:41 BPA announces the release of UK Ports industry magazine
10:42 Coast Guard Cutter Diligence returns to homeport from Caribbean patrol

2020 November 21

16:12 Impact assessment agency of Canada interim report an incomplete analysis omitting a number of important facts
15:49 Cummins introduces X15 Stage V solution for European inland waterways
15:18 Belfast Harbour supports launch of Maritime Belfast Trust
14:07 Remote repair helmet overcomes pandemic restrictions
13:39 Armstrong Marine USA of Port Angeles, Wa. launches new identity as BRIX MARINE
12:24 Mackay provides electronics package for two Vigor-built pilot boats commissioned by Los Angeles Pilot Service
11:38 Third quarter 2020 business activity strong CMA CGM Group operating performance

2020 November 20

18:00 CMA CGM to launch the FLAMINGO EXPRESS service
17:49 Senior Arctic Officials’ plenary meeting held in a virtual format
17:05 Australia to end crew contract extensions
16:52 Port of Algeciras was awarded the ESPO Award 2020
16:33 FSUE "Rosmorport" takes part in International Forum "Transport of Russia"
16:05 MOL's new app boosts efficiency with real-time processing of ship operational data
15:40 Novotrans ensured 100-pct loading of Baltiysk ferry on Ust-Luga-Baltiysk line
15:08 ABP invests around £2 million in new lock gates in Ipswich
14:22 PD Ports unveils plans for River Tees Digital Platform
14:05 Rosterminalugol handled over 23.4 million tonnes year-to-date, up 8% YoY
13:44 Tallink receives Finnish Government guarantee for additional loan
13:21 Golar and Black & Veatch announce collaboration in floating ammonia production, carbon capture, green LNG and other emerging technologies
13:03 Zvezda starts cutting steel for lead LNG tanker of new ARC 7 class series
12:10 The “ECO Valencia” arrives to València
11:37 Maersk works with the Long Beach Harbor Trucking Association
10:55 MABUX: Bunker Market this morning, Nov 20