• 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.




2020 March 29

16:29 Coast Guard and a salvage towing company rescued three people near Key Largo
14:35 AAM to complete construction of the first hydrogen fuel cell vessel in the U.S.
13:17 Fischer Panda UK introduces standardised FP Control across new models
12:03 USCG responds to grounded container vessel in Mississippi River
11:52 Stena Bulk performs a test running an MR tanker on 100% biofuel

2020 March 28

15:13 Belov Engenharia Ltda to operate Robert Allan designed DSV for Petrobras
13:42 Valaris received a termination notice for the drilling contract for VALARIS DS-8
12:47 SCHOTTEL wins propulsion contract to equip U.S. Navy vessels
11:31 VT Halter Marine to execrise an option for forth APL(S)
10:53 USCG Cutter Polar Star returns home from Operation Deep Freeze 2020

2020 March 27

18:37 Kim Heng Marine & Oilfield incorporates JV Bridgewater Marine (Taiwan)
18:14 Port of Antwerp Covid-19 Taskforce: supply chains still working
17:52 Oboronlogistics delivers materials and equipment for construction of medical center in Kaliningrad Region
17:29 Exercise involving three frigates of RF Navy’s Black Sea Fleet took place in Mediterranean Sea
17:05 Philippine Ports Authority imposes entry protocol in offices, ports in fight against COVID-19
16:43 Admiralteiskie Verfi launches lead freezing trawler of Project СТ-192 built for Russian Fishery Company
16:21 Arthur Sedov appointed as Managing Director of Rosterminalugol
16:05 Cosco Shipping Ports announces full year results for 2019
15:58 Gazpromneft Ocean marine oils are available in South Korea
15:44 The world's most powerful semi-submersible crane vessel receives the largest LNG bunkering in the Port of Rotterdam
15:27 Navigation on middle Volga and Volga-Baltic Canal to be opened ahead of schedule
15:04 Maritime and Port Authority of Singapore to provide economic relief to passenger vessel owners and operators
14:40 Severnaya Verf lays down fifth processing trawler of Project 170701 ordered by NOREBO Group
14:16 VPower Group is new distributor for Rolls-Royce’s MTU solutions in China
13:55 Russia’s foreign trade cargo to be completely redirected to domestic ports by 2022-2023 - Rosmorrechflot
13:06 Russian bunkering market meets demand for low-sulphur fuel – RF Transport Ministry
12:28 Port of Gdansk is fully operational
11:33 Rosmorport's Arkhangelsk Branch takes measures to prevent COVID-2019 spread
11:09 Diana Shipping announces time charter contract for m/v P. S. Palios with C Transport
10:35 MABUX: Bunker market this morning, Mar 27
10:32 69th navigation season opened in Volga-Don Basin of inland water ways
10:09 Fincantieri extends work stoppage in all its Military and Cruise Vessels production plants and offices from March 30th
09:54 Brent Crude futures price is up 0.68% to $26.52, Light Sweet Crude – up 1.86% to $23.02
09:39 Launching ceremony held for lead shallow-draft dry cargo barge of Project RDB20
09:20 Synergy Group calls for collective action on shipping’s coronavirus crewing crisis
09:11 Baltic Dry Index is down to 569 points

2020 March 26

18:36 MHI-MME first receives MET-MBII turbochargers first order
18:05 DNV GL’s remote surveys surge with 15,000 completed since launch
17:50 IAPH welcomes new member port from Canada
17:36 CMA CGM completes a first transaction relating to the sale of eight port terminals to Terminal Link for USD 815 million in cash
17:16 Höegh LNG announces amendment and restatement of the FSRU Independence debt facility and a new interim LNGC timecharter
17:05 OOCL announces additional withdrawal of Trans-Pacific sailings in April 2020
16:43 RF Government approves Transport Strategy till 2035
16:28 Measures introduced for Nevsky Shipyard staff to prevent spread of Covid -19
16:24 Customised Wärtsilä ship design chosen for two new P&O ships
16:20 MAN Cryo develops liquefied methane terminal in Swedish port city Oxelösund
16:05 COSCO SHIPPING Ports announces FY2019 results
15:37 PDP Institute of Admiral Makarov SUMIS undertakes measures to prevent spread of Covid-19
15:30 APM Terminals issues North America COVID-19 update
15:15 World Maritime University and International Union of Marine Insurance sign Memorandum of Understanding
14:52 North Sea Port takes further action to keep port operational along Ghent and Zealand side
14:13 Delo Group is to consolidate 99.6% of PJSC TransContainer
13:44 Bunker prices continue going down at the Far East ports of Russia (graph)
13:21 Expansion of infrastructure for coal exports via port of Vysotsk approved by Glavgosexpertiza
12:48 Blagoveshchensk shipyard named after October Revolution laid down yet another hydrographic ship of Project 19910
12:10 BC Ferries announces fuel rebate
11:29 Murmansk Commercial Seaport completed construction of wind and dust barriers
11:00 Busan Port cooperates with the government, operators and workers to prevent COVID-19 infection
10:52 Panama Canal adopts measures to guarantee sustained operations amid COVID-19
10:38 Ministry of Transport and Communications of Finland to amend decrees on road ferries, manning of ships and certification of seafarers