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  • MABUX: Bunker market this morning, Dec. 1
  • 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.


2022 January 26

14:40 Throughput of OTEKO Group terminals in Taman surged by 82%, year-on-year
14:13 Fincantieri’s U.S. shipyards join Green Marine
13:48 Yakutia LNG project may need new port facilities in Sea of Okhotsk
13:27 Konecranes provides 17 Automated Rubber-Tired Gantry Cranes in fully integrated solution for Port of Felixstowe
12:37 Freeport of Ventspils handled over 11.1 million tons of cargo in 2021
12:01 DNV selected to lead “pioneering" ammonia bunkering safety study in Singapore
11:32 Superyacht Phi delivered to ABS class
11:23 Smart Ports Russia 2022 to bring together ports and terminals in Moscow
10:58 KN transhipped the first bulk bitumen to a tanker
10:58 Port Houston annual TEUs set record with 15 percent growth
10:37 CIMAC World Congress is postponed to June 2023
10:01 Klaipeda Port handled 45.6 million tonnes of cargo in 2021
09:53 KCC signs pilot agreement for Yara Marine’s ‘FuelOpt’ energy efficiency system
09:39 Baltic Dry Index as of January 25
09:18 Crude oil prices start decreasing
08:33 MABUX: Global bunker market compensates losses from the day before

2022 January 25

18:10 Ports of Los Angeles & Long Beach postpone Container Excess Dwell Fee
17:55 Joint Russian-Chinese naval exercise Peaceful Sea-2022 took place in the Arabian Sea
17:36 Broad scope of Wärtsilä power solutions selected for gas-fuelled ferry trio
17:26 ICTSI's Cavite Gateway Terminal beefs up operations
17:04 BLRT Grupp is constructing a unique floating exhibition centre for Norway
16:45 Port of Los Angeles launches first-of-its-kind cyber resilience center
16:25 IDFA, Port of Los Angeles, and CMA CGM form joint initiative to advance U.S. dairy exports
15:52 MOL announces the world's first successful sea trial of autonomous sailing on a commercial container ship voyage
15:13 Damen commissions Rolls-Royce business unit to supply automation solutions for German Navy’s F126 frigates
15:02 Valenciaport and COSCO collaborate in the automation of the delivery of container seals
14:41 Flag-raising ceremony held on Sibir, first serial nuclear-powered icebreaker of Project 22220
14:02 7.6 million tonnes of goods handled in record quantities at the Port of Kiel
13:36 Glavgosexpertiza approves installation of NSR maritime distress safety system at “Dickson” station
13:12 European shipowners support EU parliamentary proposal on commercial operators and a sector-dedicated fund
12:54 Damen signs up ERMA FIRST to supply world’s smallest Ballast Water Treatment System
12:30 TotalEnergies launches Port of Marseille Fos’ first ship-to-containership LNG bunkering operation
12:11 OOCL posts results for 2021
11:24 RF Accounts Chamber found Russian IWW potential not to be used in full
11:00 European Parliament proposed amendments to EU ETS put Green Deal goals at risk, says World Shipping Council
10:17 Saimaa Canal Commission grants permit to Transport Infrastructure Agency for construction in Saimaa Canal lease area
09:43 Baltic Dry Index as of January 24
09:28 Crude oil prices continue moderate increase
09:15 MABUX: Global bunker prices to trend lower on Jan 25

2022 January 24

18:22 Nakilat takes delivery and management of fourth LNG carrier newbuild
18:09 CMA CGM and TotalEnergies launch Port of Marseille Fos’ first ship-to-containership LNG bunkering operation
17:55 Detachment of RF Navy’s Baltic Fleet went to sea to fulfill tasks of long-distance campaign
17:32 Raiffeisenbank opens USD 20 million credit facility for Sea Port of Saint-Petersburg
17:13 GTMaritime guide sets out future of maritime communications
16:50 Glavgosexpertiza approves construction of coal terminal Port “Vera” in Primorye
16:29 Salus Technical introduces its the cloud-based software Bowtie Master
15:58 Tersan shipyard lays down trawler for Magadan based fishing company Tikhrybkom
15:11 Wärtsilä hits methanol milestone with first newbuild engine order
14:30 Sea Port of Saint-Petersburg to take delivery of over 40 units of handling equipment and one 63-tonne crane in 2022
14:01 Dogger Bank announces supplier events for O&M phase
13:44 BW Offshore signed an agreement for the sale of the FPSO BW Joko Tole
13:21 Loko-Bank shareholder increased his share in FESCO to 26.52%
13:07 Royal Dutch Shell plc changes its name to Shell plc
12:44 FESCO increases number of transit container trains from CPV almost twice in 2021
12:23 EdgeTech rolls out the 6205s2 Swath Bathymetry & Side Scan Sonar System
12:18 PGS secures Northern Lights CO2 storage acquisition contract
11:52 Maersk Drilling secures 21-month contract with TotalEnergies
11:17 Second episode of a creative multimedia project named The Ecologist was launched in cooperation with Van Oord
10:49 Heerema announces contract with McDermott for Saudi Aramco’s Marjan Increment Program
10:42 Eastern Shipbuilding completes major infrastructure improvement project to support OPC program