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  • 2020 December 22 10:05

    MABUX: Bunker market this morning, Dec 22, 2020

    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) decreased on Dec.21:

    380 HSFO: USD/MT 339.56 (-1.90)
    VLSFO: USD/MT 420.00 (-1.00)
    MGO: USD/MT 483.58 (-4.05)





     

     

     

     

     

     

     

     

     

    Correlation between the Market Bunker Price Index (MBP) vs MABUX Digital Bunker Price Index (DBP) in four major hubs on Dec.21 showed undercharging of 380 HSFO bunker grades in Singapore (-6 USD) and Rotterdam (-20 USD) and overcharging in other selected ports. At the same time, VLSFO is also undercharged in Rotterdam (-7 USD) and Singapore (-15 USD) while in Fujairah and Houston it is overcharged. MGO LS remained undervalued in all ports except of Houston (+ 10 USD).



     

     

     

    Meantime, world oil indexes fell on Dec.21 as the discovery of a new strain of the Covid-19 virus prompted fears of tougher lockdowns in the near term.

    Brent for February settlement decreased by $1.35 to $50.91 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for February fell by $1.13 to $47.97 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $2.94 to WTI. Gasoil for January delivery lost $19.25.

    Today oil indexes continue to decline as a new strain of the novel coronavirus in the United Kingdom triggered concerns over fuel demand recovery.

    Over the weekend, the U.K. government had abruptly reversed its plans to relax restrictions on social gatherings over the Christmas period, instead instituting a new and tougher regime for south-east England, where the new strain of the virus is concentrated. That region includes the capital London.

    The UK government also warned that a new variant of the virus seemed to be spreading much faster than previous kinds. In response to this India, Pakistan, Russia, Jordan and Hong Kong joined European countries in suspending travel from Britain, and Saudi Arabia, Kuwait and Oman closed their borders completely. There is no evidence yet to suggest that the new strain is more virulent or resistant to the vaccines that are working their way through the global regulatory process.

    Despite renewed fears about oil demand due to the new coronavirus strain, the leader of the non-OPEC group in the OPEC+ pact, Russia, is still in favor of another 500,000 bpd increase in the alliance’s oil production from February.

    At the same time, OPEC+ will take a more hands-on approach to global oil markets now that it plans to meet more frequently. There are some thoughts that the market is still not recovered and is still extremely volatile. That is why OPEC+ members decided to meet monthly. Earlier this month, OPEC+ members agreed to start raising their combined oil production by half a million barrels daily from next month, to continue until April. This decision was widely seen as a compromise between the more aggressive backers of further deep cuts such as Saudi Arabia and those eager to restart production growth such as Iraq and Russia.

    We expect bunker prices may decrease today: 6-8 USD down for IFO and 15-19 USD down for MGO.




2022 January 20

18:35 EuroDry announces agreement to acquire a 2014-built Supramax bulker
18:05 Valaris announces floater contract awards
17:43 Alfa Laval experiences increased demand for solutions related to LPG as fuel
17:26 Throughput of Chinese sea and river ports in 2021 climbed by 6.8% YoY
17:15 The U.S. Army gets $22.81 billion in supplemental funding of studies, projects and programs
17:05 Sanmar Shipyards delivers fourth powerful compact tug to SAAM Towage
16:50 Cargo traffic on IWW of Russia in 2021 rose by 1.2% to 110.3 million tonnes
16:35 Uber Boat by Thames Clippers builds the UK’s first hybrid high speed passenger ferries
16:15 American Cruise Lines unveils Project Blue
16:05 TGE Marine announces the completion of the tank building phase for two large LNG cargo tanks
15:31 Hafnia plans to acquire 12 modern LR1 tankers
15:25 Holland Shipyards Group develops new tug EDDY 24-50 E
15:05 ZIM announces new chartering agreement for three 7,000 TEU LNG dual-fuel container vessels
14:40 Exports of LNG and gas condensate from port Sabetta exceeded 19 million tonnes in 2021
14:11 Stena Line and Associated British Ports sign £100M deal for new ferry terminal at the Port of Immingham
13:45 Federal authorities asked to step into situation with coal transportation by Russian Railways
13:19 MABUX: Bunker Weekly Outlook, Week 03, 2022
13:12 Norside buys the platform supply vessel 'Farland' for offshore wind
12:46 New ICS guide helps seafarers navigate the digital bridge
12:08 The Harbour Master’s Division of the Port of Rotterdam Authority makes it through the second corona year unscathed
11:51 Port of Long Beach sets annual record with 9.38 million TEUs
10:46 Global Ports' consolidated marine container throughput increased by 2.8% y-o-y in 2021
10:10 Increase of cargo predicted for the Port of Riga this year
09:33 MABUX: Global bunker prices may turn over downward correction in the end of the day
09:25 Crude oil market sees downward price correction
09:08 Baltic Dry Index as of January 19

2022 January 19

18:20 New SGMF publication provides expansive and highly relevant guidelines on safe bunkering of LNG
18:03 ESL Shipping sells the barge Espa
17:52 High efficiency Wärtsilä power solutions to drive seven new Arctic Shuttle Tankers
17:50 Euroseas announces new charter for its 2,788 TEU, 2004-built vessel
17:33 Freeport of Riga Authority to invest almost EUR 1 million in implementation of port digital technology and IT solution projects this year
17:15 ABS, SDTR and SDARI develop methanol-fueled bulker
16:54 Thistle Wind Partners land 2 GW in ScotWind offshore wind leasing round
16:26 Results of Russian ports in 2021: infographics and analytics
16:05 Port of Blyth orders Konecranes Gottwald Generation 6 Mobile Harbor Crane
15:40 Equinor awarded 26 new production licences on the Norwegian continental shelf
14:56 Oboronlogistics’ Sparta IV to deliver project cargo to India
14:29 Sea Port of Saint-Petersburg increased its throughput in 2021 by 17% YoY
14:08 Growing orders for Alfa Laval FCM LPG fuel supply systems reflect strength in Alfa Laval’s broad LPG offering
13:45 Throughput of Novotrans at Ust-Luga port’s ferry terminal rose by 9.2% in 2021
13:24 ABB adds digital analytics feature to turbochargers, giving performance visibility to shipowners
12:51 Port of Corpus Christi finishes Fiscal Year 2021 with record tonnage
12:50 FESCO delivers equipment for NPP Akkuyu in Turkey
12:27 Helsinki City Board approves the Port of Helsinki Ltd development programme
12:13 METIS adds new functionality to cloud-based platform to enhance decarbonisation and compliance support
11:41 North makes key Fixed Premium P&I appointments to accelerate diversification drive
11:35 Jumbo-SAL-Alliance delivers comprehensive transportation solution for the transportation of offshore platform modules
11:23 Throughput of Murmansk Sea Fish Port in 2021 rose by 20.7% YoY
11:01 Throughput of Rostov-on-Don port in 2021 fell by 15%, year-on-year
10:39 MABUX: Bunker price may continue upward changes on Jan 19
10:16 DNV: “No room for complacency” despite advancement in shipping safety
10:02 Norilsk Nickel to have icebreaker built by Helsinki Shipyard Oy
09:29 Baltic Dry Index as of January 18
09:13 Crude oil prices continue rising amid high demand

2022 January 18

18:45 X-Press Feeders launches Germany Sweden X-Press
18:04 Crown Estate Scotland announces the outcome of the first Scottish offshore wind leasing round in over a decade
17:52 Throughput of Russian seaports in 2021 climbed by 1.7% (detalization)
17:34 Fugro secures cable route survey contract for Denmark’s Energy Islands development supporting the transition to renewable energy
17:04 MPC Capital secures new building slots for 5,500 TEU container ships
16:54 Incat Tasmania awarded a contract to build a 76 metre high speed catamaran for South Korea