• 2020 December 1 10:38

    MABUX: Bunker market this morning, Dec. 1

    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) rose slightly on Nov.30:

    380 HSFO - USD/MT - 326.98 (+0.58)

    VLSFO - USD/MT – 394.00 (+1.00)

    MGO - USD/MT – 462.369 (+1.82)

    Comparison of the Market Bunker Price Index (MBP) with the MABUX Digital Bunker Price Index (DBP) in the four major hubs showed that on 30 November 380 HSFO and VLSFO bunker fuel were overvalued slightly in almost all ports considered, with the exception of Rotterdam (380 HSFO fuel at the port 30 was undervalued by 6.00 USD on Nov.30), while MGO LS prices were undervalued in all ports except Houston.

    Meantime, world oil indexes fell slightly on uncertainty about whether OPEC+ would agree to extend large output cuts at talks this week.

    Brent for January settlement fell by $0.59 to $47.59 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for January delivery decreased by $0.19 to $45.34 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $2.25 to WTI. Gasoil for December delivery lost $4.50 – $387.00 .

    Today morning oil indexes do not have any firm trend so far.

    OPEC and allies led by Russia are looking for a consensus on oil output policy for 2021, after an initial round of talks on Nov.29. OPEC+ had been due to ease production cuts from January 2021, but a second coronavirus wave has reduced demand for fuel around the world. The group is now considering rolling over existing cuts of 7.7 million barrels per day, or around 8% of global demand, into the first months of 2021. Talks were now focusing on extending cuts by three to four months, or on a gradual increase in output.

    It was reported that Iraq would not ask OPEC for exemption from a pact aimed at reducing output, so that oil prices are expected to reach about $50 at the beginning of 2021. As per report, the commitment of members to the deal would help boost oil prices and Iraq was not seeking exemption fearing from new retreat in oil prices.

    Goldman Sachs said the surge in COVID-19 cases in the winter would not prevent the oil market rebalancing as a result of vaccine progress, saying it saw Brent rising to $65 in 2021. Reuters in turn forecasts Brent would be average $49.35 a barrel next year.

    Prices also found some support after Moderna Inc said it will apply for U.S. and European emergency authorization of its COVID-19 vaccine on Nov.30 based on full results from a late-stage study showing its vaccine was 94.1% effective with no serious safety concerns.

    Venezuela has restarted direct shipments of crude oil to China despite U.S. sanctions.

    Until now, Venezuela’s oil company sold oil to China via ship-to-ship transfers at sea, but now tankers loaded with Venezuelan crude are sailing straight to China. China is the biggest buyer of Venezuelan crude. As a result of the sanctions, Venezuela’s production and exports have suffered gravely, with last month’s average in exports falling to 359,000 bpd. The drop followed the expiry of a grace period Washington had given to commodity traders to wind down their oil-for-fuel swap business with Venezuela, which was allowed for humanitarian reasons.

    In the United States, the number of operating oil and natural gas rigs has risen for the fourth month in a row as producers return to the wellpad with crude prices mostly trading over $40 a barrel since mid-June.

    Japan, South Korea and a number of international shipping groups have warned the European Union against its plan to add greenhouse gas emissions from the maritime sector to Europe’s carbon market. As the 27-country EU seeks to steer its economy towards “net-zero” emissions by 2050, the executive European Commission wants to expand its carbon market to shipping. The opposition side warned that adding shipping to Europe’s carbon market could stoke trade tensions, and cause extra emissions by prompting ships to take longer routes to avoid stops in Europe. Shipping produces 2.1 percent of global CO2 emissions, a share expected to rise if left unchecked, threatening global efforts to curb climate change.

    We expect IFO bunker prices may decrease today by 1-3 USD while MGO prices may drop by 2-4 USD.


2021 January 25

18:06 Valenciaport leads Spain in natural gas supply operations
17:56 Russian Fishery Company develops new markets
17:28 Vanino coast stations of sea areas A1 and A2 GMDSS successfully passed regular survey
17:05 DNV GL awards AIP to KSOE for wing sail propulsion system
16:05 Wärtsilä signs a five year extension to its Optimised Maintenance agreement with Golar
15:59 Port of Ventspils increased handling of wood products
15:04 ABS awards industry’s first AIP for deep-sea mining vessel to CMI
14:27 Average spot market price for Russian M100 product climbed to RUB 18,710 pmt
14:02 Konecranes and Calata Bettolo container terminal in Genoa join forces on complete container handling solution
13:55 90% of ships cleared by Baltic Customs in 2020 went through commission-free procedure
13:02 Port of Rotterdam Authority launches smart bollard trial at ECT
12:13 Chinese ports container throughput increases by 1.2% to 264.3 million TEU in 2020
11:38 Calls at ports of Sakhalin, Kurils and Kamchatka in 2020 grew by 4.4%
11:04 Panama Canal signs MoUs with Panama Ports Company and PSA Panama International Terminal to optimize supply routes for COVID-19 vaccine distribution
10:47 MABUX: Bunker market this morning, Jan 25, 2021
10:12 Throughput of Chinese sea and river ports in 2020 climbed by 4.3% YoY
10:10 The LNG-powered CMA CGM JACQUES SAADE makes her first call at Le Havre
09:51 Rosmorport appoints Aleksandr Smirnov as Acting General Director
09:30 Crude oil prices start this week with a decrease
09:16 Baltic Dry Index as of January 22

2021 January 24

16:37 Boluda Towage acquires Dutch Towage & Salvage Company Iskes
15:13 MARAD announces notice of funding opportunity for America's small shipyard grant program
14:39 Greensea receives US NAVY award to advance Standoff Command and Control
14:18 USCG assists 7 people after boat collision near Fort Pierce
13:42 Contract awards within Renewable Energy and Subsea
12:32 RightShip and INTERCARGO announce important new quality standard for dry bulk sector to be governed by new NGO
11:26 V.Group announces new appointment
10:56 Siem Car Carriers' fleet continues to grow with Super-Eco, LNG powered PCTC vessels

2021 January 23

16:31 DNV GL awards AIP to KSOE for wing sail propulsion system
15:23 Boomsma Shipping installs and sails off with two eConowind Flatrack VentiFoils
14:51 HHLA acquires majority share of automation specialist iSAM AG
13:18 MPA announces 30-day suspension for pleasure craft, ADVANT, for large social gathering on board
12:42 Puerto Aguadulce hits 1 million TEU milestone
11:36 Diana Shipping announces time charter contract for M/V Calipso with Viterra
10:53 Bahri Ship Management receives ISO 45001 certification for occupational health and safety

2021 January 22

18:00 Rosmorport's icebreaker Mudyug starts providing icebreaking assistance in the Baltic Sea
17:36 Andrey Lavrishchev appointed as head of Federal Marine and River Transport Agency
17:13 Aleksandr Poshivay appointed as Deputy Minister of Transport of the Russian Federation
16:34 Rosmorport starts providing geodesic and hydrographic services in the water area of Petropavlovsk-Kamchatsky seaport
16:05 APM Terminals Gothenburg offers certified climate impact calculations to customers
15:49 Sredne-Nevsky Shipyard commences outfitting of yet another minesweeper of Project 12700, Pyotr Ilyichov
15:21 Norsepower installs first tiltable Rotor Sails on Sea-Cargo Ro-Ro
14:58 Container terminal in Świnoujście is in line with sustainable development vision
14:32 Cargo turnover of NCSP Group in 11M’2020 totaled 101.4 million tons, down 21.2% YoY
14:07 Petersburg Oil Terminal in 2020 increased shipments of oil products by 16.6%
14:03 Jan De Nul adds two new vessels to its fleet
13:45 DHT Holdings announces acquisition of two VLCCs
13:29 Iridium partner MetOcean Telematics provides SaR buoys to the USCG
12:52 Havyard develops hydrogen zero-emission vessels in new segment
12:11 THE Alliance announces Transatlantic Service Network adjustments for 2021
11:30 Rosmorport successfully completed formation of Ultramar terminal’s water area
11:06 Training ships Nadezhda and Professor Khlyustin welcome first cadets of 2021 season
11:05 Inmarsat passes 10,000-vessel fleet xpress installation milestone as data demand accelerates maritime digitalisation
10:39 Scottish Ports Group welcomes Scottish Goverment's establishment of 'Greenports'
10:21 Throughput of Kaliningrad port in 2020 fell by 6% Y-o-Y
10:02 MABUX: Bunker market this morning, Jan 22, 2021
09:48 Bunker market sees mixed price movements at the Port of Saint-Petersburg, Russia (graph)
09:30 Crude oil prices decrease amid aggravation of the epidemiological situation
09:12 Baltic Dry Index as of January 21

2021 January 21

18:07 Port of Houston awarded new start for Ship Channel