• 2020 February 14 10:27

    MABUX: Bunker market this morning, Feb 14

    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 13:

    380 HSFO - USD/MT 362.77 (+2.78)
    VLSFO - USD/MT 543.00 (+3.00)
    MGO - USD/MT 598.64 (+3.19)


    Meantime, world oil indexes also increased on Feb. 13 on beliefs, that Russia and OPEC will deepen production cuts to prevent worsening of crude demand from a new spike in deaths and infections from China’s Covid-19 epidemic.

    Brent for April settlement increased by $0.55 to $56.34 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for March rose by $0.25 to $51.42 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $4.92 to WTI. Gasoil for March delivery added $4.50.

    Today morning oil indexes are steady amid possibility of deeper supply cuts from major producers.

    China reported a sharp spike in deaths and infections from a new virus after the hardest-hit province of Hubei applied a new classification system that broadens the scope of diagnoses for the outbreak, which has spread to more than 20 countries. The death toll in China reached 1,367, up 254 from the previous day. The number of confirmed cases on Feb.13 jumped by 15,152 to 59,804. But the other countries still believe that China is under-reporting the number of infections and deaths.

    The International Energy Agency (IEA), meanwhile, estimated a drop of 435,000 barrels a day during the first three months of the year. It had previously expected world fuel consumption to grow by 800,000 barrels a day compared with a year earlier. The expected decline in demand prompted the agency to cut its 2020 growth forecast by 365,000 bpd to 825,000 barrels a day, the lowest since 2011. The effects from coronavirus to oil demand will be more significant than those of the 2003 SARS epidemic because of China’s increased importance and integration within the world economy.

    The outbreak has shuttered businesses and prompted the quarantine of tens of millions of people in China, the world’s biggest crude importer. The country accounted for about 75% of last year’s oil-demand growth, according to the IEA.

    The new estimates show that oil markets face a significant surplus despite the latest production cuts by OPEC and its partners. There are still hopes, that OPEC to agree to a 600,000-barrels-per-day cut in production to offset some of the lost demand in crude. However, Russia, a key producer, has so far resisted the initiative, asking for time to study the proposal. Russia will settle its position in a “timely” way, a Kremlin spokesman said on Feb.13. This suggests a decision won't be arriving any time soon.

    At the same time, the OPEC+ alliance had already faced an oversupply in the first half of 2020 because of the ongoing output surge from U.S. shale-oil drillers. That industry is likely to remain resilient against the price slump until later in the year, it predicted. Given the abundance of supply, disruptions in OPEC members such as Libya and Nigeria are having little impact on prices, the agency said.

    We expect bunker prices may increase today: 1-3 USD up for IFO, 1-4 USD up for MGO.




2020 February 17

18:37 CMA CGM announces FAK rates from Middle East Gulf & Pakistan to North Europe, the Mediterranean and Red Sea & Red Sea
18:06 European Shipping Week 2020 opens with the latest figures on European shipping
17:50 Gazprom Neft’s supplies of low-sulphur marine fuel to domestic market to exceed 1.5 million tonnes in 2020
17:36 SCHOTTEL secures contract to provide propulsion units for a newly built harbour tug
17:18 BlueWater Reporting issues ISC-North America trade report
17:05 Saga Subsea receives new contract
16:30 IMO’s Sub-Committee on Pollution Prevention and Response meets this week
16:05 Reach Subsea awarded several contracts and call-offs under frame agreements for 2020 execution
15:54 Wärtsilä to supply customized Hybrid Scrubber solution to two Norwegian Cruise Line ships
15:06 Sea Port of Saint-Petersburg's allocations under its social programme totaled RUB 47 million in 2019
14:42 Container throughput of Hong Kong port (China) fell by 20.4% to 1.35 million TEUs in Jan’2020
14:17 Damen holds keel-laying ceremony for Nigerian Navy landing craft
13:38 WFW advices BPER BANCA on Marittima Emiliana financing
13:35 RusHydro and Kemerovo Region Government sign cooperation agreement to complete construction of Krapivinskiy hydroelectric complex
12:09 CMA CGM announces implementation of Panama Canal Adjustment Factor
11:05 Sea Port of Saint-Petersburg took part in Kirovsky District exhibition
10:31 Bunker sales at the port of Singapore in Jan’2020 grew by 7.5% Y-o-Y to 4.51 million tonnes
10:17 Diana Shipping Inc. announces cancellation of the sale of a panamax dry bulk vessel, the M/V Calipso
10:03 MABUX: Bunker market this morning, Feb 17
09:50 Port of Singapore throughput in Jan’2020 declined by 2.1% to 50.88 million tonnes
09:36 Brent Crude futures price is down 0.28% to $57.16, Light Sweet Crude – down 0.1% to $52.27
09:34 CMA CGM announces FAK rates from India and Sri Lanka to North Europe and the Mediterranean
09:19 Fincantieri delivers “Scarlet Lady”, the first Virgin Voyages ship
09:18 Baltic Dry Index is up to 425 points
09:04 Works starts on new Rolls-Royce Peterborough facility to support the Canadian surface combatant program
07:15 IAA PortNews congratulates Vyacheslav Ruksha, Deputy Director of Rosatom - Director of Rosatom’s NSR Directorate, on his birthday!

2020 February 16

16:15 Two new oceanographic vessels will join the NOAA fleet
15:13 TenneT develops first 2GW offshore grid connection with suppliers
14:52 USCG issues Captain of the Port Orders to Bouchard Transportation Vessels
13:12 Siemens builds Germany’s largest “power outlet” for ships for Port of Kiel
12:34 Naval Group presents its industrial and academic cooperation plan with Greece
11:16 MARAD announces more than $280 million in grants for US coastal seaports

2020 February 15

14:51 Holland Shipyards holds keel-laying ceremony for new electric ferry
13:27 USCG takes delivery of Cutter Edgar Culbertson
12:43 Virgin Voyages celebrates delivery of Scarlet Lady
11:15 European Commission working visit in the context of Military Mobility

2020 February 14

18:37 OOCL updates Trans-Pacific services
18:07 Canada plans to support ban on heavy fuel oil in Arctic shipping
17:49 Rates of transport security dues approved for Rosmorport’s Azov-Black Sea Basin
17:26 Reconstruction of the historic FG levee completed at the Port of Riga
17:05 Vado Gateway terminal commences operations
16:51 Commissioning ceremony of Offshore Patrol Vessel PNS YARMOOK
16:35 PIL to exit Transpacific market to focus on North-South trade
16:08 Keel of Wasaline’s new ferry was laid at Rauma shipyard
15:44 Rauma Marine Constructions to partner with Aalto University looking to cut emissions and increase safety in seafaring
15:19 Nauticor, Fassmer start LNG cooperation with Atair bunkering
14:21 Global Ports launches Ust-Luga – Moscow rail container service
13:57 Zvezda shipyard starts building yet another Aframax tanker for Rosnefteflot
13:35 Port of Ipswich celebrates tonnage-handling record for largest independent producer of sand and gravel in the UK
13:12 Finnlines invests in highest passenger comfort and orders two eco-friendly Superstar vessels
12:50 Finnlines strengthens its North Sea services as from week 8, 2020
12:26 Supervisory board of KN approves company's corporate strategy until 2030
12:03 Hapag-Lloyd announces rates from Mediterranean to Far East
11:48 Throughput of Klaipėda Port in Jan'20 exceeds that of Latvia’s ports for the first time in the history
11:30 CMA CGM announces FAK rates for reefers from North Europe, Baltic, Scandinavia, Poland & West Med to Asia
11:09 Fincantieri presents “Scarlet Lady” in Genoa Sestri Ponente
10:54 Klaipėda Port’s canal to be deepened to 15 meters
10:30 CMA CGM announces FAK rates for reefers from East Med & Black Sea to Asia
10:27 MABUX: Bunker market this morning, Feb 14
10:09 PCC Intermodal marks 10 years of work in the Port of Hamburg