• 2020 December 3 09:48

    MABUX: Bunker market this morning, Dec.03

    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) fell slightly on Dec.02:

    380 HSFO - USD/MT - 324.45 (-2.68)

    VLSFO - USD/MT – 392.00 (-3.00)

    MGO - USD/MT – 460.88 (-0.50)

    Comparison between the Market Bunker Price Index (MBP) vs MABUX Digital Bunker Price Index (DBP) in the four major hubs on Dec.02 still showed slight overcharging of 380 HSFO and VLSFO bunker fuels in all selected ports, with the exception of Rotterdam (380 HSFO fuel at the port was undervalued by 6.00 USD on Dec.02), while MGO LS prices were undervalued in all ports except Houston (plus 14 USD).

    Meantime, world oil indexes rose slightly on Dec.02 as the market awaited a pact from producers on output.

    Brent for February settlement rose by $0.83 to $48.25 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for January delivery increased by $0.73 to $45.28 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $2.97 to WTI. Gasoil for December delivery gained $4.25 – $390.50 .

    Today morning oil indexes have turned into slight downward correction.

    OPEC+ postponed a decision on its next steps until Dec.04 after talks proved harder than expected. It was expected the group to extend its current agreement by three months or so, rather than allowing the cuts to taper beginning in January. However, some members are itching to increase production. Russia has suggested easing by 0.5 mb/d each month beginning in January. At the same time, the UAE is uncomfortable with low compliance levels of other members.

    Middle East producers led by Saudi Arabia are widely expected to raise their official selling prices for January loading crude in December, although the outcome of the OPEC and non-OPEC meetings in coming days could affect the size and even the direction of any price change. Saudi Aramco is expected to raise the price of medium, sour Arab Light for January by 50-60 cents/b from December.

    Fitch Ratings has revised its global shipping sector outlook to stable, reflecting improving fundamentals for container shipping and dry bulk, albeit a relatively weak tanker segment. Prudent capacity management, particularly in container shipping, should enable operators to benefit from a partial rebound in demand across freight categories in 2021 based on our current expectations for a global economic recovery. Developments in emissions regulations by the International Maritime Organization (IMO) or EU could affect the medium-term outlook for sector cost structures and the earnings capacity of relevant shipping segments.

    Fifteen countries in the Asia-Pacific region—including China and Australia—recently signed the world’s newest and largest trade pact. The Regional Comprehensive Economic Partnership (RCEP) Agreement is set to gradually reduce and, in some cases, eliminate, trade tariffs on goods, including commodities. The pact could further sideline U.S. exporters of energy (incl. LNG) to the world’s most resource-thirsty region.

    The United States briefly returned to being a net importer of crude oil and petroleum products in May and June this year, as U.S. crude oil and refinery output slumped at the start of the pandemic. But on an annual basis, U.S. net imports of petroleum dropped from a high of 12.5 million bpd in 2005 to 700,000 bpd last year. Meantime, the decline in U.S. crude oil production and the lower refinery runs resulted in a decline in America’s gross crude oil and petroleum product exports.

    U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 0.7 million barrels from the previous week. At 488.0 million barrels, U.S. crude oil inventories are about 7% above the five year average for this time of year. A day before the EIA released its latest weekly inventory numbers, the American petroleum Institute reported an inventory build of over 4 million barrels for last week.

    Gazprom will attempt to restart construction on the Nord Stream 2 pipeline, which has been held up for a year due to U.S. sanctions. Forecasts believe that Russia has the ability to complete the project. Sanctions have targeted pipelaying vessels, which have complicated Russia’s construction effort.

    We expect IFO bunker prices may add 3-5 USD today while MGO prices may rise by 4-6 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