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  • 2021 February 4 09:39

    MABUX: Bunker market this morning, Feb 04, 2021

    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) demonstrated upward changes on February 03:

    380 HSFO: USD/MT – 371.30 (+3.65)
    VLSFO: USD/MT – 472.44 (+6.59)
    MGO: USD/MT – 526.18 (+6.63)


    Correlation between the Market Bunker Price Index (MBP) vs MABUX Digital Bunker Price Index (DBP) in four major hubs on Feb.03 showed undercharging of 380 HSFO bunker grades in all ports (from -4USD to -12 USD). VLSFO is overcharged in all 4 hubs in a range of 12-17USD. MGO LS undervalued in all four major hubs.




     

     

     

    Meantime, world oil indexes increased on February 03.

    Brent for April settlement increased by $1.00 to $58.46 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for March rose by $0.93 to $55.69 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $2.77 to WTI. Gasoil for February delivery added $5.50.

    Today oil indexes continue to rise after OPEC+ decided to continue with a reduced output policy at a meeting on Feb.03.

    OPEC+ extended its current oil output policy during a meeting of its Joint Ministerial Monitoring Committee on Wednesday. The cartel’s decision indicates that efforts to reduce inventory will continue even as the COVID-19 pandemic lingers and the outlook for fuel demand remains uncertain. It is also an indication that OPEC+ is starting to unwind the unprecedented production cuts it implemented in 2020, which helped oil rally from record lows.

    At the same time, information from the U.S. Energy Information Administration (EIA) also supported oil indexes. The data from EIA showed a draw of 994,000 million barrels in U.S. oil inventories. It was forecasted a 446,000-barrel build, and a 9.190-million-barrel draw was recorded during the previous week. Crude oil stockpiles in the U.S. are now at their lowest levels since March. However, gasoline inventories jumped by almost three times as much as forecast to the highest since June. The EIA projected that American oil production wouldn’t surpass 2019 levels until 2023. Despite the downtrend in stockpiles, a recovery in fuel consumption remains shaky as lockdown measures limit mobility and concerns grow over the spread of several Covid-19 mutations. From the other side, continued progress in rolling out COVID-19 vaccines globally is also an important driver of oil prices.

    We expect bunker prices may demonstrate upward changes: 5-7 USD up for 380 HSFO, 3-5 USD up 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