• 2019 March 14 09:29

    MABUX: Bunker Market as of this morning, March 14

    The Bunker Review was contributed by Marine Bunker Exchange

    MABUX World Bunker Index (consists of a range of prices for 380 HSFO, 180 HSFO and MGO (Gasoil) in the main world hubs declined on March 13

    380 HSFO - USD/MT 420.93 (-1.28)
    180 HSFO - USD/MT 468.86 (-1.50)
    MGO        - USD/MT 640.71 (-1.08)

    Meantime, world oil indexes increased on Mar. 13  as U.S. crude inventories unexpectedly fell and an official forecast of crude oil supply growth from the world’s top producer was revised lower

    Brent for May settlement increased by $0.88 to $67.55 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for April delivery rose by $1.39 to $58.26 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of 9.29 to WTI. Gasoil for April delivery increased by $1.39.

    Today indexes rise as the U.S. reportedly would start cutting more Iran’s crude exports from May

    Washington is targeting to cut Iran's crude exports by about 20% to below 1 million barrels per day (bpd) from May. The cut would be achieved by requiring importing countries to reduce purchases to avoid U.S. sanctions, the source added. A complete halt of Iran’s oil in the short term is unlikely however, as the Trump administration remained concerned that it would trigger a global oil price spike.

    U.S. crude oil inventories fell unexpectedly last week. The EIA data showed that crude oil inventories fell by 3.86 million barrels last week. That was compared to forecasts for a stockpile build of 2.66 million barrels, after a surge of 7.07 million barrels in the previous week.  U.S. crude oil production also dipped, falling by 100,000 bpd to 12 million bpd.

    At the same time the U.S. Energy Information Administration (EIA) reported on Mar.12 that U.S. crude oil production is expected to average about 12.30 million bpd in 2019, up from an average of around 11 million bpd in 2018. At the same time EIA cut its 2019 world oil demand growth forecast by 40,000 barrels per day to 1.45 million bpd (for 2020 -  by 20,000 bpd to 1.46 million bpd).

    U.S. plans to implement further Venezuela-related sanctions that would be very significant. U.S. sanctions against oil exports from Caracas and fellow OPEC member Iran have contributed to a tightening market, while a power outage in Venezuela and Saudi Arabia’s commitment to deeper production cuts added to expectations for diminishing supply. Moreover, Venezuela suffers from a six-day blackout, its worst on record, which has left exports from its main oil terminal at a standstill.

    Saudi Energy Minister Khalid al-Falih said this week that its agreement with OPEC and allies led by Russia to cut output would likely last until at least June, while the kingdom also indicated Monday that it would cut exports in April.

    Market awaits the publication of monthly oil market reports from both OPEC and the International Energy Agency on Thursday and Friday, respectively, as it seeks to gauge the outlook for global supply and demand.

    Expect bunker prices to rise today: 3-5 USD up for IFO, 1-3USD up for MGO.




2019 June 17

18:24 USCG saves six people, tows disabled vessel in Port Etches
17:59 Denis Krylov appointed General Director of Gazpromneft-Sakhalin
17:28 China and South Korea agree on ballast water exchange rules
17:04 Mermaid Maritime borrows a loan of USD 65 mln to extend the financing of two vessels
16:41 Neptune Lines welcomes Neptune Galene & Neptune Thalassa after scrubber installation
16:23 DG Termināls invests about 1 million euros during the year
16:17 Finnish ferry getting a diesel-electrical drivetrain system
16:04 MSC Katya R. sets record as largest container ship to boost Costa Rican export links to Europe
15:45 Singapore to host 18th Vessel Efficiency & Fuel Management Summit
15:26 Onezhsky Shipyard launches multifunctional buoy tender for Volga-Baltic Basin
15:04 Hunter Group sells one vessel
14:42 Gdansk, Poland to host 6th Operating Specialist Wind Vessels Summit
14:19 Seatrade Europe conference programme to include Marine Interiors specialist panel discussions
14:12 ClassNK releases amendments to class rules
13:55 Finland hosts an EU–China maritime meeting
13:31 AWT completed stage III of modernization and expansion of the Paskov Terminal
13:24 Average wholesale prices for М-100 HFO down to RUB 16,007 in RF spot market
13:10 The Irish Port of Cork and Port of Amsterdam to collaborate
12:48 Pella Shipyard launches tugboat of project 90600, Sadko, built for Sevmash-Shelf (video)
12:31 Port of Oakland exports up 8.4 percent in May 2019
12:01 North Carolina Ports adopts Vortex port equipment simulator
11:30 MEYER WERFT announces the keel laying for the new cruise ship IONA
11:15 Throughput of port Shanghai (China) in Jan-May’19 declined by 1.3% to 225.91 million tonnes
11:00 Panama Canal issues proposal to modify tolls structure
10:59 Bunker sales at the port of Singapore in Jan-May’2019 fell by 7.7% Y-o-Y to 19.79 million tonnes
10:37 Fincantieri's Muggiano shipyard launches PPA “Paolo Thaon di Revel”
10:21 CMA CGM announces FAK rates from Asia to the Mediterranean
10:01 Brent Crude futures price is up 0.26% to $62.17, Light Sweet Crude – up 0.19% to $52.87
09:38 Port of Singapore throughput in Jan-May’2019 was nearly flat YoY at 261.39 million tonnes
09:19 Diana Shipping commences self tender offer to purchase up to 2,000,000 shares
09:16 MABUX: Bunker market this morning, June 17
09:10 Baltic Dry Index is up to 1,085 points

2019 June 16

17:13 DC area agencies to conduct mass rescue exercise off National Harbor
16:05 Boskalis appointed as salvor for both damaged tankers in the Gulf of Oman
15:53 Fincantieri and Naval Group sign a joint venture agreement
13:47 Diana Shipping Inc. announces the sale of a Panamax dry bulk vessel, the MV Thetis
12:47 WSC unveils its hybrid patrol vessel at Seawork 2019
11:41 GasLog Partners LP announces new multi-year charter agreement with Gunvor

2019 June 15

15:44 Wight Shipyard rolls out its new windfarm support vessel concept at Seawork Int'l 2019
13:17 Malta Freeport hosts its first LNG-powered container ship
12:53 Petrobras closes the sale of TAG
11:41 USCG, local partners respond to sailing vessel aground off Magic Island
08:43 Vessel training simulation underway at Tema Port’s new Terminal 3

2019 June 14

18:05 Ole Martin Grimsrud appointed CFO of Aker Solutions
17:44 USCG Cordova FOL crew saves man stranded for three days on Montague Island
17:05 Knud E. Hansen wins two separate contracts for innovative large RoRo vessels
16:41 Hapag-Lloyd to increase rates from North East Asia to Australia
16:26 Murmansk Sea Fishing Port handled 90,300 tonnes of cargo in Jan-May’2019, down 38.7% Y-o-Y
16:05 CMA CGM announces GRR from Asia to South Africa
15:14 “K” Line receives recognition for vessel speed reduction programs in the West Coast of North America
15:00 UK maritime industry leaders debate decarbonization, digital technologies and the future of safety at the annual ABS UK National Committee meeting
14:00 China Railway Container Transport signs strategic cooperation agreement with SITC International Holdings
13:38 Container throughput of Vladivostok Sea Fishing Port in 5M’2019 up 39% YoY to 89,649 TEUs
13:09 Algoma increases its interest in in the CSL International Pool
12:41 Port of Klaipeda (Lithuania) handled 19.77 million tonnes of cargo in 5M’2019, up 8.5% Y-o-Y
12:09 Global Ship Lease announces new charter agreements
11:32 Bunker prices continue going down at the port of Saint-Petersburg, Russia (graph)
11:09 ECSA issues statement on suspected attack on two oil tankers in the Gulf of Oman
10:51 France signs up to fishing vessel training treaty
10:30 Zhatai Shipyard to let build up to 10 river ships and scrap at least two ships per year