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  • MABUX: Bunker market this morning, Dec.04
  • 2020 December 4 10:55

    MABUX: Bunker market this morning, Dec.04

    MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO Gasoil) in the main world hubs) demonstrated upward changes on Dec.03:

    380 HSFO - USD/MT - 326.60 (+2.15)

    VLSFO - USD/MT – 395.00 (+3.00)

    MGO - USD/MT – 463.06 (+2.18)

    Meantime, world oil indexes also increased on Dec.03 on renewed hopes for a U.S. stimulus deal and after major oil producers agreed to increase output by a modest 500,000 barrels per day (bpd) from January.

    Brent for February settlement increased by $0.46 to $48.71 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for January rose by $0.36 to $45.64 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $3.07 to WTI. Gasoil for December delivery added $6.00.

    Today oil indexes continue to rise after major producers agreed to continue to restrain production to cope with coronavirus-hit demand but the compromise fell short of expectations.

    OPEC and Russia on Dec.03 agreed to ease deep oil output cuts from January by 500,000 barrels per day, failing to come to a compromise on a broader policy for the rest of next year. OPEC+ will meet once a month to review conditions and monthly increases will not be greater than 500,000 barrels per day (bpd). Monthly meetings by OPEC+ will make price moves more volatile and complicate hedging by U.S. oil producers. The increase means OPEC+, are set to reduce production by 7.2 million bpd, or 7% of global demand from January, compared with current cuts of 7.7 million bpd. OPEC+ was expected to continue existing cuts until at least March, after backing down from plans to raise output by 2 million bpd.

    In addition to the agreement for adding 500,000 bpd of production back in, OPEC+ members that are laggards in sticking to their production quotas will have to make up the difference between now and March.

    At the same time, higher prices prompted U.S. producers last week to boost output for a third week in a row for the first time since May 2019.

    Demand expectations from the vaccine and U.S. stimulus are also support oil indexes. Republicans in the U.S. Congress struck a more upbeat tone on Dec.03 during coronavirus aid talks as they pushed for a slim $500 billion measure that previously was rejected by Democrats who say more money is needed to address the raging pandemic.

    Oil indexes have jumped higher since early November, when medicals companies Pfizer and Moderna confirmed the efficacy and safety of their vaccines for preventing Covid-19, which traders expect to result in a smart rebound in demand next year.

    We expect bunker prices may demonstrate upward changes today: 1-3 USD up for IFO and 4-6 USD up for MGO.


2022 January 26

18:06 Safe Bulkers announces agreement for the acquisition of one Capesize class dry-bulk Japanese vessel
17:54 Olga Naumova takes helm of Russian Fishery Company
17:41 Shearwater GeoServices awarded Western Australia multicomponent surveys by Santos
17:26 Heerema wins decommissioning contract for multiple Petrogas platforms
16:27 USCG to break ice along Penobscot, Connecticut, and Hudson Rivers
16:03 Deltamarin signs an engineering contract for Höegh Autoliners Aurora Class PCTCs
15:58 Avenir sells the world’s largest LNG bunker vessel
15:55 Rosmorport supports "Soul of the Caspian" expedition aimed at studying and conserving Caspian seal
15:33 Maersk Supply Service launches new venture company to deliver offshore vessel charging
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