• 2021 February 3 10:32

    MABUX: Bunker market this morning, Feb 03, 2021

    The Bunker Review was contributed by Marine Bunker Exchange (MABUX) AB

    MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO in the main world hubs) rose on Feb.02:

    380 HSFO: USD/MT – 367.65 (+3.82)
    VLSFO: USD/MT – 465.85 (+5.10)
    MGO: USD/MT – 519.55 (+3.38)




     

     

     

     

     

     

     

     

    As of February 02, correlation of MBP Index (Market Bunker Prices) vs DBP Index (MABUX Digital Benchmark (Digital Bunker Prices) in four global largest hubs showed a situation when 380 HSFO and MGO LS fuel grades were underestimated in all four selected ports, including Houston (for the first time), where DBP index registered an underestimation of 380 HSFO by minus 4 dollars on Feb. 02 and a 100-percent correlation of MBP and DBP indices for MGO LS fuel. In general, 380 HSFO fuel was undercharged in all ports in a range from minus $ 2 (Fujairah) to minus $ 7 (Rotterdam and Singapore), and MGO LS fuel - from minus $ 6 (Rotterdam) to minus $ 23 (Singapore). However, VLSFO fuel remained overpriced at all selected ports ranging from plus $ 12 (Rotterdam) to plus $ 19 (Singapore).




     

     

     

    World oil indexes also rose on Feb.02 after major crude producers showed they were reining in output roughly in line with their commitments.

    Brent for April settlement rose by $1.11 to $57.46 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for March delivery increased by $1.21 to $54.76 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $2.70 to WTI. Gasoil for February delivery gained $17.50 – $451.75.

    Today morning oil indexes continue slight upward evolution.

    OPEC crude production rose for a seventh month in January, but the increase was smaller than expected, a Reuters survey found. Also, voluntary cuts of 1 million bpd by OPEC’s de facto leader, Saudi Arabia, are set to be implemented from the beginning of February through March. Russian output increased in January but in line with the agreement on reducing production, while in Kazakhstan oil volume fell for the month. BP expects oil demand will recover in 2021 with global inventories expected to return to their five-year average by the middle of the year.

    The American Petroleum Institute (API) reported on Feb.02 a draw in crude oil inventories of 4.261 million barrels for the week ending January 29, along with gasoline, distillate, and Cushing draws as well. Forecasts had predicted an inventory build of 446,000 barrels for the week.

    We expect bunker prices may demonstrate firm upward evolution today: IFO may rise by USD5 -  7 USD, MGO – by USD8 - 15.




2024 February 25

15:46 Mitsubishi Shipbuilding completes basic design of ammonia fuel supply system for marine engines under development by WinGD
14:33 Final tender for technical support opens for aids to navigation maintenance in Australia
13:18 HII launches Virginia-class submarine Massachusetts at Newport News Shipbuilding
12:07 IMO agrees new guidance for safe transport of plastic pellets on ships
10:25 ​QatarEnergy names the first carrier of its LNG expansion fleet

2024 February 24

15:17 CMA CGM announces RRI03 from North Europe & the Mediterranean to/via USA, Canada & Mexico
14:31 Hanwha Ocean seals $256 million deal to build VLCC pair
12:38 New cable layer joins Boskalis fleet following major conversion
10:33 Port of Rotterdam adopts Green Award verification for new EU shipping sustainability incentives
09:57 MPA selected 11 proposals to advance electric harbour craft designs in Singapore

2024 February 23

15:57 Vitol and EOG Resources enter into long-term gas supply agreement indexed to Brent pricing
13:47 PortNews’ top headlines, Jan 19-26
12:06 BOEM approves construction and operations plan for empire wind’s offshore wind project
10:40 Clear early policy decisions needed to prevent the UK's energy transition stalling, says DNV

2024 February 22

18:04 United Maritime Corporation expands fleet with new bulk carrier
17:42 Euroseas reports Q4 and FY 2023 results
17:16 Scrubber savings up to 13 bln USD amid IMO2020 regulations implementation
16:14 HD Korea Shipbuilding secures 172.4 bln-won order for two LPG carriers
15:51 Baltic Sea Action Plan Fund allocates EUR 1 mln to 10 new environmental projects
15:24 The first Norsepower Rotor Sail funded by German Government to be fitted on Baltrader’s new cement carrier
14:45 HD Hyundai Marine Solution bags deal for LNG carrier re-liquefaction
14:13 Eastern Pacific Shipping partners with bound4blue for first wind-assisted propulsion system installation
13:42 Baker Hughes lands multi-year well construction services contract with Petrobras
13:32 MABUX: Bunker Weekly Outlook, Week 08, 2024
13:20 Unifeeder launches new direct service linking Aruba and Curaçao with Colombia
12:43 The use of Nextlogic at the Port of Rotterdam leads to a 20% reduction in port waiting times
12:21 Vitol Bunkers takes delivery of first biofuel barge in Asia
11:43 Galveston LNG Bunker Port joins SEA-LNG coalition
10:58 Liberian bulk carrier banned from Australian ports
07:39 Container shipper HMM receives an A- score from Carbon Disclosure Project

2024 February 21

18:00 SBM Offshore receives ExxonMobil Ruby Supplier Award for offshore operations
17:25 ZeroNorth and Alpha Ori Technologies close deal to form a new company
17:06 SeaLead and Blue Water Line launch Gulf India Express service
16:34 Auramarine signs agreement with Yiu Lian Dockyards and Guangzhou Jihai Shipping Material for the implementation and uptake of methanol dual fuel systems
16:12 VARO and Orim Energy to scale-up sustainable shipping fuel capabilities
15:34 Biden to sign executive order on US port cybersecurity
15:11 EDGE Group and Fincantieri form joint venture
14:57 Allseas completes infield pipelay scope for BP's GTA LNG project offshore Mauritania and Senegal
14:11 BYD to expand fleet with seven new car carriers by 2025
13:47 Hanwha Ocean sales jumped 52.4 percent on-year to 7.4 trillion won in 2023
13:24 Cavotec signs two-year service agreement with APM Terminals at Port of Tanger Med
12:19 Russian grain exports exceeded 66 million tonnes worth almost $16.5 billion in 2023
11:07 Gasunie and Storag sign agreement for large-scale hydrogen storage in Germany
10:58 Dual-fuel methanol design of offshore wind turbine installation vessel from Yantai receives ABS approval
10:29 NYK places first order with Japanese shipyard for offshore wind industry crew transfer vessel

2024 February 20

18:07 Armada Technologies announces contract with CoolCo for a hull air lubrication installation
17:40 AIDA Cruises launches the largest modernization program in its fleet
17:24 ROVOP partners with Boskalis to deliver integrated subsea solutions throughout the energy industry
16:35 Port of Rotterdam total cargo throughput down 6.1% to 438.8 million tonnes in 2023
15:36 EST-Floattech secures a €4 million investment from 5 investors
15:14 South Korea strengthens export restrictions on Russia and Belarus
14:41 Glander International Bunkering and Asyad Shipping partner for AI-driven sustainable shipping solutions
14:12 Danaos adds two methanol-ready container ships to fleet
13:58 Some stranded Russian Sokol oil cargoes begin to move to China, India
13:35 HD Korea Shipbuilding wins 322.8 bln-won order for 2 ammonia carriers
12:43 RINA approves performance prediction software for wind-assisted ships
10:55 Forth Ports orders two new pilot boats
10:29 HHLA's revenue fell by 8.3 percent to €1,447 million in 2023
09:45 Etihad Credit Insurance partners with DP World Trade Finance
07:51 CMA CGM announces PSS adjustments for shipments from Europe to India, Middle East Gulf, and Red Sea

2024 February 19

18:06 SafeΒulkers adds two more carriers
17:42 Piraeus Port shows resilience to the Red Sea crisis
17:23 Valenciaport container traffic up 11% to 388,366 TEU in Jan 2023
16:47 Sticky situation in UK port after grounded Ukrainian tanker leaked molasses
16:28 EU foreign ministers approve deployment of Red Sea naval mission
15:58 Eidesvik Offshore launches world’s first methanol-powered vessel for subsea and offshore wind
15:39 Equinor signs a 15-year LNG agreement with Deepak Fertilisers
14:23 Jumbo Offshore signs MoU with Sea Horizon Offshore
13:40 Texas LNG selects Gulf LNG Tugs to build, deliver and operate tugboats
13:38 Russian seaports’ January cargo volume fell 6.5% Y/Y to 71 million tonnes (expanded version)