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  • 2021 March 11 11:07

    MABUX: Bunker market this morning, Mar 11, 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) continued slight downward movement on March 10:

    380 HSFO: USD/MT – 428.02 (-1.80)
    VLSFO: USD/MT – 531.55 (-4.50)
    MGO: USD/MT – 597.33 (-4.57)






     

     

     

     

     

     

     

     

    As of March 10, a correlation of MBP Index (Market Bunker Prices) vs DBP Index (Digital Bunker Prices = MABUX Digital Benchmark) in four largest global hubs showed that 380 HSFO fuel was undervalued in three selected ports ranging from minus $ 9 (Fujairah) to minus $ 27 (Rotterdam). Only in Houston, DBP Index showed an overcharge of 380 HSFOs by $ 1. Three ports, according to DBP Index, also showed an underestimation of VLSFO fuel grade: from minus $ 12 in Rotterdam to minus $ 21 in Singapore. Houston recorded an overvaluation of the VLSFO by plus $ 19. MGO LS, according to DBP Index, remains undervalued in three ports ranging from minus $ 13 (Fujairah) to minus $ 39 (Singapore). Houston is the only exception again, where MGO LS has been overcharged by $ 14. As a result, Houston is currently the only port to register an overpricing of all bunker fuel grades.





     

     

     

     

     

    World oil indexes changed sideways on March 10 after a large jump in U.S. crude inventories in the aftermath of last month’s Texas winter storm.

    Brent for May settlement rose by $0.38 to $67.90 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for April delivery increased by $0.43 to $64.44 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $3.46 to WTI. Gasoil for March delivery lost $7.25 – $530.50.

    Today morning oil indexes continue slight upward evolution.

    The Energy Information Administration (EIA) reported an inventory build of 13.8 million barrels for the week to March 5. At 498.4 million barrels, U.S. crude oil inventories are about 6% above the five year average for this time of year. A draw in gasoline stocks and another one in distillates, however, offset the negative news. EIA also said, U.S. crude production is still expected to fall by 160,000 bpd in 2021 to 11.15 million bpd. Its previous monthly forecast was for a drop of 290,000 bpd.

    A combination of factors including top importers China and India drawing crude from storage at current high prices and expectations of a return in Iranian supplies have also pushed fuel indexes down.

    Heavy maintenance work on North Sea oil fields is helping erode the flow of crude to Asia from some suppliers in the Atlantic basin as a key price spread between the two region widens. North Sea supplies will be significantly constrained throughout the second quarter by routine maintenance programs.

    We expect prices for 380 HSFO and VLSFO may rise today in a range of plus 1-3 USD, while MGO prices may change irregular in a range of plus-minus 3-7 USD.

    Source: www.mabux.com




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