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  • MABUX: Bunker market this morning, Nov 17
  • 2020 November 17 09:34

    MABUX: Bunker market this morning, Nov 17

    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) continued to decline on November 16:

    380 HSFO: USD/MT 308.11 (-1.94)
    VLSFO: USD/MT 365.00 (-2.00)
    MGO: USD/MT 430.65 (-3.05)


    Meantime, world oil indexes increased on Nov.16 on hopes that OPEC+ will hold current output curbs and optimism amid a vaccine for COVID-19.

    Brent for January settlement increased by $1.04 to $43.82 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for December rose by $1.21 to $41.34 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $2.48 to WTI. Gasoil for December delivery added $8.00.

    Today oil indexes continue to rise as multiple vaccine makers delivered positive information on their progress.

    Moderna Inc has released information about its candidate mRNA-1273, which has both a greater efficacy and better storage conditions than the Pfizer Inc and BioNTech product BNT162b, giving rise to optimism about the end of the COVID-19 pandemic. Over the last week, Pzifer/BioNTech, Moderna, CureVac NV, Sanofi SA /GlaxoSmithKline, and Johnson & Johnson have all released some details of the status of their COVID-19 vaccines. Moderna’s candidate has both a better efficacy rate than the Pfizer/BioNtech version (94.5% vs 90%) and far greater ease of storage and transport, with required temperatures reportedly approximating those of a standard medical or home refrigerator. Moderna plans to file for an Emergency Use Authorization (EUA) with the U.S. Food and Drug Administration (FDA) in the coming weeks and submit applications for authorizations to global regulatory agencies. At the same time, a vaccine for many people around the world will unlikely be available until late into 2021.

    Besides, the Organization of Petroleum Exporting Countries and their allies (OPEC+) will likely extend their current supply cuts for a minimum of three months. That gave more support to oil indexes. OPEC+ is due to hold a Joint Ministerial Monitoring Committee today as a prelude to its full meeting, the 180th Meeting of the OPEC Conference on Nov. 30 and the 12th OPEC and non-OPEC Ministerial Meeting on Dec. 1. The body's Joint Technical Committee met on Nov.16. OPEC+ has been cutting production by about 7.7 million barrels a day, with a compliance rate seen at 101% in October, and had planned to increase output by 2 million bpd from January.

    However, the speedy recovery of oil production in OPEC member Libya back to above 1.2 million bpd presents a challenge to OPEC+ cuts, while a slowdown in traffic across Europe and the United States dampened fuel demand recovery hopes this winter.

    At the same time, figures showing a rebound in the world's second and third largest economies, China and Japan, also supported prices, along with data that Chinese refineries processed the most crude ever in October on a daily basis. In China, crude oil refinery throughputs increased by 2.6 percent year on year in October, setting a new refinery run record of 14.09 million barrels per day (bpd). The previous record was 14.08 million bpd, set in June this year. Chinese fuel demand held firm last month, with gasoline demand steady during a holiday early in October, while domestic jet fuel demand has nearly reached pre-crisis levels.

    Another statement that supports fuel indexes is that, Joe Biden’s COVID advisory team said that a national lockdown in the United States would be a “measure of last resort,” which gave markets hope that the economy and oil demand would not be as severely hit as they were in the lockdown in the spring.

    We expect bunker prices may rise today: 5-7 USD up for IFO and 6-8 USD up 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