• 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.




2024 March 29

18:00 SLB announces agreement to acquire majority ownership in Aker Carbon Capture
17:14 “K” Line and Nippon Gas Line establish a marketing company to provide liquefied CO2 transportation services for carbon capture and storage projects
16:47 VTTI and IKAV enter agreement to purchase majority ownership of Adriatic LNG, Italy
16:25 Mitsubishi Shipbuilding receives order from the University of Tokyo for "MiPoLin" power prediction and lines selection system
15:41 Wan Hai Lines holds naming ceremony for 13,100TEU newbuilding “WAN HAI A15”
15:10 MOL announces restructuring measures
14:45 Drewry predicts impact on container calls at US East Coast ports after the collapse of the Francis Scott Key Bridge
14:25 Chevron’s first hybrid electric fueling barge arrives in Singapore
13:40 HD KSOE and Infineon sign MoU to develop ship electrification technology
13:29 NYK and JMU formulate method for evaluating ship performance in actual seas
12:59 HD Hyundai wins US$463 mln warship order in Peru
12:09 COSCO SHIPPING Ports throughput up by 4.4% YoY to 135,808,554 TEU in 2023
11:46 The "Ane Maersk" calls at the Eurogate container terminal in Hamburg for the first time on its maiden voyage from Asia to Europe
11:20 Sallaum Lines and Fujian Mawei Shipbuilding commence construction of Ocean Class vessels
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