• Home
  • News
  • MABUX: Bunker market this morning, Nov 05
  • 2020 November 5 09:36

    MABUX: Bunker market this morning, Nov 05

    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 Nov.04:

    380 HSFO: USD/MT 293.39 (+1.99)
    VLSFO: USD/MT 339.00 (+2.00)
    MGO: USD/MT 403.27 (+2.32)

    Meantime, world oil indexes increased on Nov.04 after data showed U.S. crude stockpiles dropped 10 times more than the build expected.

    Brent for January settlement increased by $1.52 to $41.23 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for December rose by $1.49 to $39.15 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $2.08 to WTI. Gasoil for November delivery added $10.75.

    Today oil indexes decline as U.S. presidential contender Joe Biden begins to look likely to win the U.S. presidency.

    As the U.S. elections begin to draw to a close, it is looking increasingly likely that Democrat Joe Biden will be the next U.S. president. This is seen as a downside for oil, as the Democrats have a stronger focus on renewables and are likely to push an energy agenda more focused in that area. However, the election result is not yet conclusive, and with many battleground states decided by razor-thin margins is likely to be a drawn-out process involving numerous legal challenges. The effect of the U.S. presidency on oil was demonstrated when President Donald Trump announced that he had won. Oil prices jumped 4% on the news, only to drop back once it was established that Trump’s declaration was somewhat premature.

    The rise in global COVID-19 cases continues, with Johns Hopkins University data showing 600,000 new daily cases globally, with a total of over 48 million cases registered. The ongoing growth of the coronavirus pandemic is pulling back demand forecasts for the foreseeable future, with a corresponding negative impact on oil prices. More lockdowns could cap oil price gains. Italy, Norway and Hungary have tightened coronavirus curbs, following Britain, France and other countries.

    At the same time, the latest crude oil inventories data from the U.S. Energy Information Administration (EIA) supported oil indexes. It showed a surprisingly large drawdown in U.S. crude reserves of 7.998 million barrels, as against a forecast draw of 890,000 barrels. This follows crude oil stocks data from the American Petroleum Institute that also presented a large unexpected draw of 8.01 million barrels against a forecast fall of 600,000 barrels. Three of the previous five weeks have shown a draw-down in inventory. Oil production for the previous week also fell - by 600,000 barrels. Both events appeared to be a consequence of Hurricane Zeta.

    The possibility, that the Organization of the Petroleum Exporting Countries (OPEC) and its allies, a group led by Russia and known as OPEC+, maintaining current production restrictions also supported oil indexes yesterday. OPEC member Algeria came out in support of deferring a planned increase in OPEC+ oil output from January, a day after Russia’s energy minister raised the possibility with the country’s oil companies. OPEC+ is scheduled to meet over Nov. 30 and Dec. 1 to set policy.

    We expect bunker prices may rise today: 7-9 USD up for IFO and 8-10 USD up for MGO.

2021 November 28

15:17 PGS awarded 4D contract in the North Sea
14:08 Cruises return to the Port of New Orleans with 285 ship calls estimated for 2022
13:54 Kalmar to deliver significant order of Straddle Carriers to MPET and PSA in Antwerp
12:41 Skipper ordered to pay reparation of $10,400 after collision with kayaker on the Whanganui River, NZ
12:17 Port of San Diego extends public review period for Draft EIR for PMPU
11:57 HAROPA PORT elected “Best Green Seaport 2021”
11:33 Contract award for MPSV Siem Dorado
10:48 Port of Dunkerque announces new appointments to its Executive Board

2021 November 27

14:38 Liquid Wind secures SEK 151 million for production of fossil free fuel
13:21 TECO 2030 receives NOK 50 million in government support for fuel cell development
11:09 Inmarsat offers future-proof remote control connectivity for latest sea-kit uncrewed surface vessel trials
10:54 J.P. Morgan and Havfram AS announce a series of next generation wind turbine installation vessels

2021 November 26

18:17 TECO 2030 is leading a project group that will build a hydrogen-powered high-speed vessel for the Port of Narvik
18:00 TransContainer’s IFRS-based net profit in 9M'2021 increased by 51% to RUB 14.8 bln
17:35 Royal Niestern Sander signs contract for walk to work vessel conversion
17:26 PortNews offers final edition of its magazine for 2021
17:15 Konecranes and Cargotec note CMA’s announced Provisional Findings regarding the planned merger of Konecranes and Cargotec
17:03 IMO appoints Special Advisor on Maritime Security
16:55 Nord Stream 2 delay weighs on gas prices - Gasum
16:40 Nevsky Shipyard lays down two research vessels of Project 17050
16:25 BIMCO calls for continued naval support in Gulf of Guinea after piracy incident
16:05 Alfa Laval and Orcan Energy sign a cooperation agreement for the marine market
15:43 Wärtsilä launches power limitation solutions for EEXI compliance
15:25 Hiab launches HIAB iQ.1188 HiPro loader crane with new control system
14:47 RF Government approves Transport Strategy of Russia until 2030 with forecast until 2035
13:59 Sredne-Nevsky Shipyard launches Anatoly Shlemov minesweeper of Project 12700
13:11 The Port of València hosts a rescue drill for a crane operator
12:10 GTT obtains tank design order for three new LNG Carriers from Hyundai Heavy Industries and Hyundai Samho Heavy Industries
11:54 Phase 2 of Bagayevsky hydrosystem construction begins
11:52 Ardmore moderates COP26 ‘ShipZero’ panels, discussing the realities of zero emission ships
11:17 ClassNK signs MOU on cybersecurity with Panama Maritime Authority (PMA)
10:51 MSC starts new In-Transit Cargo service
10:32 MABUX: Global bunker market to keep slight irregular fluctuations with no firm trend on Nov 26
10:22 Oboronlogistics' Ambal ferry obtaines certificate on safety management from RS
09:48 MPA and maritime partners maintain cybersecurity readiness through inaugural exercise
09:33 Baltic Dry Index as of November 25
09:17 Oil prices decrease on concerns over reduction of demand

2021 November 25

18:06 Rolls-Royce and Zhenjiang Shipyard to jointly promote tugs and workboats with mtu engines in China
17:44 Delo Group presented own Digitalization Strategy
17:16 Keppel awarded FSRU conversion and FPSO integration work worth around S$200 million
16:25 Cargo traffic within Azov-Don Basin of Russia’s IWWs fell by 14% in 2021
16:03 Great Lakes Dredge & Dock announces receipt of $92.5 mln Houston Ship Channel widening and improvement project 11 award
15:59 Damen Shipyards achieves official EU Stage V certification for its Emission Reduction system
15:30 RF State Duma ratifies Nairobi Wreck Removal Convention, 2007
15:02 Navigator Holdings announces approval in principle for new CO2 carrier designs for its Dan-Unity CO2 joint venture with Evergas
14:59 RINA, ABB, Helbio, the Liberian Registry, Wärtsilä and an Energy Major enter in proposal with hydrogen as fuel to meet IMO2050 targets
14:44 Rosterminalugol shipped 21 million tonnes of export coal over 10M’2021
14:21 BAE Systems launches next-generation power and propulsion system to help marine operators reach zero emissions
13:55 MABUX: Bunker Weekly Outlook, Week 47, 2021
13:12 Kongsberg Maritime and Norsepower MoU agreement facilitates Rotor Sail integration for shipowners
12:31 Sea Port of Saint-Petersburg allocated over RUB 21 million for implementation of its environmental programme
12:06 Port of Kiel describes path to climate neutrality by 2030
11:06 Third Finnlines hybrid ro-ro launched in China Merchants Jinling Shipyard
10:35 Mitsubishi Heavy Industries receives a major turbomachinery order for Ust-Luga LNG export plant
10:31 MABUX: Bunker prices may demonstrate slight upward changes on Nov 25
10:30 Navigation season closed on Volga-Baltic Waterways
10:06 Port of Long Beach named the best West Coast Seaport in North America
09:41 Oil market sees mixed price movements
09:22 Baltic Dry Index as of November 24
09:08 The second of Damen’s new Shoalbuster 2711 class handed over to Ports of Jersey in christening ceremony