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  • MABUX: Bunker market this morning, Dec 16
  • 2020 December 16 09:44

    MABUX: Bunker market this morning, Dec 16

    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) slightly increased on Dec.15:

    380 HSFO: USD/MT 336.07 (+0.77)
    VLSFO: USD/MT 415.00 (+1.00)
    MGO: USD/MT 477.96 (+2.32)



     

     

     

     

     

     

     

     

     

     

     

    Correlation between the Market Bunker Price Index (MBP) vs MABUX Digital Bunker Price Index (DBP) in four major hubs on Dec.15 still showed overcharging of VLSFO bunker grades in all selected ports. At the same time, 380 HSFO is overcharged in all ports except of Rotterdam (-7 USD). MGO LS remained undervalued in all ports except of Houston (+ 12 USD).

     

     

     

     

    Meantime, world oil indexes increased on Dec.15 shrugging off another small downgrade to the global demand outlook on concentrating on positioning for an expected rally in 2021.

    Brent for February settlement increased by $0.32 to $50.76 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for January rose by $0.63 to $47.62 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $3.14 to WTI. Gasoil for January delivery added $9.25.

    Today oil indexes decline amid another week of builds of U.S. crude oil inventories.

    Crude oil supply data from the American Petroleum Institute (API) showed a 1.973-million-barrel build for the last week. It was a bigger gain than the 3.5-million-barrel draw in forecasts and the 1.141-million-barrel build reported for the previous week. The market now awaits crude oil inventory data from the U.S. Energy Information Administration, due to be released later in the day.

    At the same time, there is a pressure from number of new restrictions due to COVID-19 situation in Europe. London stepped up pandemic restrictions requiring bars and restaurants to close, Italy is considering more stringent steps over Christmas and Germany is likely to be under lockdown until early 2021.

    The International Energy Agency (IEA) shaved its estimate for global demand next year by another 170,000 barrels a day, leaving it still more than 3 million barrels a day below 2019 levels. The shortfall in overall demand comes mainly from kerosene, or jet fuel. The IEA said this would account for four-fifths of the estimated shortfall in demand next year, as air transport takes considerably longer to recover than travel by road.

    There was noted repeatedly during the latest surge in Coronavirus cases in Europe and the U.S. that strong demand for diesel has offset weaker demand for gasoline, thanks to a big increase in demand from freight companies whose deliveries are replacing car-driven trips to shopping malls.

    The Agency (IEA) also said that any vaccine impact on demand for fuel is several months away. Global tanks will hold 625 million barrels more crude at the start of 2021 compared with pre-pandemic levels, an overhang that will dissipate by next December.

    At the same time, OPEC forecasted, that oil demand will rise more slowly than expected in 2021. OPEC cut its demand forecast for Q1 2021, as Covid-19’s rampage through the U.S. and Europe threatens demand in the near-term. The group and its allies, known as OPEC+, also delayed meetings planned for this week until early January.

    We expect bunker prices may demonstrate slight upward changes today: 1-3 USD up for IFO and 6-9 USD up for MGO.




2021 December 5

15:03 GasLog Ltd. places order at DSME for four 174000m3 gas carriers
13:27 USCG holds annual SaR exercise off Maui
12:33 Port of Felixstowe tops 100 million TEU
11:51 Vuosaari fairway deepening project completed on schedule, safely and under budget
10:47 New regional technology clusters in WA and Qld driving growth in Australia’s hydrogen sector

2021 December 4

15:21 MOL and Flotation Energy to explore offshore floating wind in Japan
14:51 Sembcorp Marine's LMG Marin to design world’s first zero-emission fuel tanker
13:09 USCG, royal Turks and Caicos Islands Police Force sign MOU
12:34 The Hurtigruten terminal has been renamed Jektevik terminal
11:02 Port of Rotterdam Authority embarks on partnerships with three promising maritime companies

2021 December 3

18:26 Hydrographic Company set to establish Center of Engineering and Technical Expertise
18:07 ABP Humber complete oil spill incident management exercise
17:52 Wärtsilä OPTI-DP Engagement Tool supporting the marine industry to configure optimised propulsion arrangements for DP vessels
17:45 Ocean Network Express conducts a joint crisis management drill with Seaspan Corporation
17:40 Transport Strategy of Russia until 2030 with forecast until 2035 published on official portal
17:22 MSC adds Hamburg to its feeder service „Baltic Loop 3“
17:02 Vyborg Shipyard launches KMT01 trawler named Kara Sea
16:32 South African minister visits Port of Rotterdam to discuss hydrogen exports
16:05 PD Ports contracts Konecranes to convert four RTGs to electric
15:31 Four Jones Act CTVs built to ABS Class to support U.S. offshore wind development
15:17 ABS, NYK, MTI and WinGD team-up to verify design with modeling and simulation
14:03 Jurong Port joins the Castor Initiative
13:30 ABS awards sustainability notations to two Harvey Gulf vessels
13:04 Kapitan Dranitsyn and Admiral Makarov icebreakers reinforced icebreaker group on NSR
12:57 Royal IHC delivers key components for “R.B. Weeks” to Weeks Marine
12:42 Icebreaker assistance season begins in White Sea waters
12:17 Sailing practice of 2021 on Mir sailing ship successfully completed
11:21 NCSP Group's consolidated revenue for 9M’2021 rose by 9.3%
10:53 Foreign contractors can be involved to build LNG-powered icebreakers for Arctic
10:38 MABUX: Bunker prices may demonstrate multidirectional changes with tendency to grow on Dec 3
10:29 The Korean Register publishes guidance for containers loading on bulk carriers
10:20 MSU-1 to perform reconstruction of Gorodetsky hydrosystem locks
09:57 Annual repair dredging in Gulf of Ob from 2023 estimated at 5 million cbm
09:35 Crude oil prices rise on OPEC+ decision to keep oil output increase in January
09:18 Baltic Dry Index as of December 2

2021 December 2

18:36 NRP buys handysize drybulk carrier
18:06 2M Alliance’s Far East liner service „AE 7/Condor“ calls at Hamburg again
17:54 Icebreaker assistance season starts in Big Port St. Petersburg on December 7
17:36 Vitol is first customer to approve completely digital inspection of cargo tanks
17:15 BIMCO launches new contract for employment of security escort vessels
16:45 GTT will design the tanks of four new LNG carriers ordered by Daewoo Shipbuilding & Marine Engineering to operate in Arctic waters
16:25 MOL announces delivery of next-generation coal carrier 'EeneX' series
16:05 PSA & ONE launch environmentally friendly barge service at Jurong Island Terminal
15:42 “K” Line conducts trial use of marine biofuel for decarbonization on car carrier
15:38 Wärtsilä wins order to supply cargo handling system for second LNG bunker vessel being built by Fincantieri Bay Shipbuilding
15:23 Verifavia launches industry’s first real-time carbon intensity indicator dashboard
14:55 Two more LK-60 icebreakers needed for regular year-round navigation on Northern Sea Route
14:28 Equinor and SSE reach financial close on the third phase of the world's biggest offshore wind farm
14:04 Nuclear-powered icebreaker Sibir to commence operation in Kara Sea in early January 2022 – Vyacheslav Ruksha
13:42 MABUX: Bunker Weekly Outlook, Week 48, 2021
13:02 European shipowners call for further action in the Gulf of Guinea
12:40 Rolls-Royce to supply eight mtu engines for new Svitzer tugs in Brazil
12:01 Throughput of Azov port in 11M’2021 climbed by 1% YoY
12:00 NORDEN simplifies business unit structure
11:36 Norway’s Eksfin tops NOK 10bn in offshore wind financing as Dogger Bank C reaches financial close
11:34 Annual throughput of Severnaya Zvezda project on Taimyr peninsula to exceed 7 million tonnes from 2026
11:10 MABUX: Uncertainty on Global bunker market to continue on Dec 02
10:00 Digital Twin Conference 2022 to be held virtually on 11-12 May 2022
09:33 Crude oil prices are rising in expectation of OPEC+ meeting
09:19 Baltic Dry Index as of December 1