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  • MABUX: Bunker market this morning, Nov 09
  • 2020 November 9 09:36

    MABUX: Bunker market this morning, Nov 09

    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 slight irregular changes on November 06:

    380 HSFO: USD/MT 295.68 (-0.82)
    VLSFO: USD/MT 344.00 (-1.00)
    MGO: USD/MT 40.65 (+0.76)


    Meantime, world oil indexes fell on Nov.06 as rising global coronavirus cases stoked fears about lackluster demand and due to uncertainty amid vote counting in the U.S. presidential election.

    Brent for January settlement decreased by $1.48 to $41.23 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for December fell by $1.65 to $37.14 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $2.31 to WTI. Gasoil for November delivery lost $4.25.

    Today oil indexes increase as the outcome of the U.S. election became clear. However, the worsening COVID-19 pandemic and oversupply concerns are still weighting the market.

    Indexes are supported by the results of the U.S. election, where the Democrats won the presidency but failed to also take control of the Senate from the Republicans. This gives neither party sufficient power to make radical changes to existing policy and is seen as a moderating influence. Some say, that the outcome is ideal from a market point of view. Neither party controls the Congress, so both trade wars and higher taxes are largely off the agenda.

    President-elect Joe Biden is also regarded as more likely to pursue beneficial federal policies in terms of COVID-19 public health and relief packages, giving some optimism about the speed of a recovery from the still-growing coronavirus epidemic. However, worries over demand recovery remain as the number of global COVID-19 cases exceeded 50 million as of Nov. 9, according to Johns Hopkins University.

    U.S. coronavirus cases also surged by over 120,000 on Nov.5, the second consecutive daily record rise as the outbreak spreads in every region. Italy recorded its highest daily number of COVID-19 infections on Nov.05. France registered a record 60,486 new confirmed cases on Friday, after posting a record 58,046 on Thursday.

    The United States gained 638,000 jobs in October, more than forecast by economists but less than September’s growth, the government’s monthly jobs data showed on Friday. The economy lost more than 21 million jobs for all of March and April, at the height of lockdowns forced by the COVID-19. It posted a strong rebound of 2.5 million jobs in May and 4.8 million in June. Job gains have slowed since, with 1.8 million in July, some 1.5 million in August and 672,000 in September.

    Providing some support, the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, a group known as OPEC+, could delay bringing back 2 million barrels per day of supply in January, given weaker demand after new lockdowns.

    Libya’s oil production has now recovered from a months-long embargo to reach 1 million barrels per day, however, the Libyan National Oil Company has stated that it is unlikely to continue production at this level due to obstruction from unnamed entities.


    U.S. energy firms last week added oil and natural gas rigs for an eighth week in a row for the first time since June 2018 as producers keep returning to the wellpad after crude prices held around $40 a barrel from mid June-late October. According to Baker Hughes Co, the oil and gas rig count, an early indicator of future output, rose by 4 to 300 in the week to Nov. 6, the highest since May. U.S. oil rigs rose by five to 226 last week, their highest since May, while gas rigs fell by 1 to 71.

    We expect bunker prices may decline today: 7-10 USD down for IFO and 4-6 USD down for MGO.




2021 December 5

15:03 GasLog Ltd. places order at DSME for four 174000m3 gas carriers
13:27 USCG holds annual SaR exercise off Maui
12:33 Port of Felixstowe tops 100 million TEU
11:51 Vuosaari fairway deepening project completed on schedule, safely and under budget
10:47 New regional technology clusters in WA and Qld driving growth in Australia’s hydrogen sector

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
14:04 Nuclear-powered icebreaker Sibir to commence operation in Kara Sea in early January 2022 – Vyacheslav Ruksha
13:42 MABUX: Bunker Weekly Outlook, Week 48, 2021
13:02 European shipowners call for further action in the Gulf of Guinea
12:40 Rolls-Royce to supply eight mtu engines for new Svitzer tugs in Brazil
12:01 Throughput of Azov port in 11M’2021 climbed by 1% YoY
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