• 2021 March 5 10:44

    MABUX: Bunker market this morning, Mar 5, 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 in the main world hubs) rose slightly on March 4:

    380 HSFO: USD/MT – 410.88 (+2.90)
    VLSFO: USD/MT – 515.51 (+4.57)
    MGO: USD/MT – 581.87 (+2.56)





     

     

     

     

     

     

     

     

    As of March 04, a correlation of MBP Index (Market Bunker Prices) vs DBP Index (MABUX Digital Benchmark (Digital Bunker Prices)) in four largest global hubs showed that 380 HSFO fuel was undervalued in three selected ports ranging from minus $ 8 in Fujairah to minus $ 25 in Rotterdam, while the value of underestimation increased by an average of $ 4. The exception is Houston, where 380 HSFO was overcharged by $ 10. Meantime, three selected ports, according to DBP Index, showed unexpectedly an undercharge of VLSFO fuel grade: from minus $ 3 in Fujairah to minus $ 5 in Rotterdam and minus $ 7 in Singapore. Only in Houston there was registered an overcharge of VLSFO: plus $ 27. MGO LS, according to DBP Index, remains underpriced in three ports ranging from minus $ 17 (Fujairah) to minus $ 37 (Rotterdam). The exception is still Houston, where MGO LS has been overcharged by $ 27. Houston remains the only port where DBP Index records an overcharge of all bunker fuel grades.



     

     

     

     

     

     

     

    World oil indexes rose on March04 after OPEC and its allies agreed to keep production unchanged into April.

    Brent for May settlement jumped by $2.67 to $66.74 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for April delivery increased by $2.55 to $63.83 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $2.91 to WTI. Gasoil for March delivery gained $5.25 – $535.25.

    Today morning oil indexes continue firm upward evolution.

    Oil prices jumped 4% on March 4 as the OPEC+ producers’ alliance bucked expectations for a hike in output starting in April. The group’s leader Saudi Arabia said it would extend its voluntary oil output cut of 1 million barrels per day (bpd), and decide in coming months when to gradually phase it out. Russia was allowed to raise output by 130,000 bpd in April and Kazakhstan by another 20,000 bpd.

    Another factor supporting fuel indexes: Yemen’s Houthi forces said on March 4 they had fired a missile at a Saudi Aramco facility in Saudi Arabia’s Red Sea city of Jeddah. There was no immediate confirmation from Saudi authorities.

    In the United States, despite a record surge of more than 21 million barrels in crude oil stockpiles last week, gasoline stocks fell by the most in 30 years as refining plunged to an all-time low due to the Texas freeze that knocked out power for millions. The United States turned into a net petroleum importer last week at 2.2 million bpd.

    We expect global bunker prices may rise today: 380 HSFO – in a range of plus 11-16 USD, VLSFO – plus 15-20 USD, MGO – plus 13-18 USD.

    Source: www.mabux.com


2021 April 20

18:19 China's Sinopec successfully starts up two Dupont™ STRATCO® alkylation technology units
18:05 MINT Fund grant scheme to provide maritime technology start-ups in Singapore
17:25 MPA launches Singapore’s first Maritime Drone Estate
17:15 SEA-LNG warns against delay in addressing shipping decarbonisation
17:08 Launch of Singapore’s MDE as test bed for drone technologies
16:44 RF President signs law on long-term agreements for providing services involving nuclear-powered icebreakers
16:15 ONE launches Green Strategy Department
15:43 Solstad Offshore signs long-term contract for PSV in UK
15:20 ABS and Rainmaking to support Singapore’s decarbonization entrepreneurs
15:05 Icebreaker assistance period ends at the port of Vysotsk in the Leningrad Region
14:26 Budget allocations for construction of LNG terminal in Kamchatka Territory to exceed RUB 21 billion
14:02 Hiab to supply 37 loader cranes in Spain to maintain railway infrastructure
13:23 Alfa Laval starts testing methanol fuel cell systems for sustainable marine power supply
13:01 Bollinger Shipyards acquires Gulf Island Fabrication’s shipyard facilities
12:57 Icebreaker assistance period ends at Big Port St. Petersburg from April 21
12:30 Port of Helsinki cargo traffic up 3.6% in Q1 2021
12:11 Port of Antwerp expands its fleet with energy-efficient tugs
11:59 Investments at the Port of Gdynia – earlier than planned
11:18 Crowley completes first U.S. design for fully electric tug with autonomous technology
11:06 Admiralteiskie Verfi shipyard commences mooring trials of diesel-electric submarine named Magadan
10:35 Northern Dvina Basin Administration opens navigation season of 2021
10:07 SMW 2021: Maritime innovation in Singapore receives boost
09:48 KN and AFRY sign agreement on long-term capacity allocation and pricing model study of Lithuanian LNG terminal
09:29 Oil prices rise on OPEC+ expectations
09:12 Baltic Dry Index as of April 19

2021 April 19

18:47 550 industry leaders discussed navigating maritime industry transformation through collaboration
18:30 Offshore International joins forces with Mammoet to deliver turnkey logistical solutions
18:16 Industry collaboration to develop guidance on the safe use of Ammonia as a fuel
17:57 RFC to provide personal scholarships to naval cadets
17:36 Milaha and Schlumberger commence well stimulation vessel operations in Qatar
17:16 CMA CGM launches SERENITY deductible guarantee
17:06 Dublin Port volumes down by 15% in Q1 2021
16:49 Rosmorport continues ensuring safe pilotage of gas tankers arriving from Russian Arctic to LNG handling facility
16:30 BAR Technologies and Yara Marine partner to bring WindWings to global shipping market
16:03 4th Advanced Maritime Leaders’ Programme to focus on leadership in times of global crisis
15:37 Average spot market price for Russian M100 product fell to RUB 22,219 pmt
15:36 Wärtsilä navigation systems to secure safe and efficient operation for 10 LNG gas carriers in Arctic operations
15:15 Throughput of Port Vanino in 3M’21 rose by 7%
14:48 Ten companies and one individual recognised for contributions to Maritime Singapore at Singapore International Maritime Awards 2021
14:22 BLRT Group builds unique Launch and Recovery System for Namibian offshore diamond recovery vessel
13:43 Economic effect of Sea Port of Saint-Petersburg’s production system project exceeded RUB 100 million
13:21 Equinor reveales the deviation in quality of welding and inspection of the Johan Castberg production vessel
12:46 Resilience, digitalisation, decarbonisation and talent take centre stage at Singapore Maritime Week 2021
12:12 DP World, UAE Region is the first in the region to explore the Quantum Computing technology
12:02 RF Government approves roadmap on implementation of Arctic Development Strategy
11:41 Samskip to participate in new Norwest Baltic Route
11:10 Klaveness Combination Carriers offers low-carbon freight to the growing Australian lithium industry
10:50 Freeport of Riga took part in international logistics exhibition “TRANSRUSSIA”
10:13 Container throughput of Hong Kong port (China) in January-March 2021 rose by 2.4%
09:45 Port of Helsinki throughput in January-March 2021 rose by 3.6% YoY
09:26 Oil prices are slightly down
09:09 Baltic Dry Index as of April 16

2021 April 18

16:18 USCG says two crewmembers recovered from capsized lift boat
14:27 Port Canaveral to host commercial vessels for U.S. reflag conversion process
13:48 ABP expands customer offer at Port of Garston
13:11 Suez Canal Authority permitted two personnel of the crew members of the Panamanian vessel to leave for urgent personal circumstances
12:34 IACS announces Incoming Council Chair
11:33 Maritime NZ welcomes new Chief Executive
11:03 RMC and TT-Line ink contract for car and passenger ferry duo
10:25 Local start-up Machine Eye wins £75k in funding from Techstart Ventures and Belfast Harbour