• 2019 March 19 09:46

    MABUX: Bunker Market this morning March, 19

    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 Mar. 18

    380 HSFO - USD/MT 421.21 (-3.50)
    180 HSFO - USD/MT 469.07 (-2.22)
    MGO         - USD/MT 638.36 (-3.78)


    Meantime, world oil indexes demonstrated irregular changes on Mar. 18 supported by the prospect of prolonged OPEC-led oil supply curbs and signs of inventory declines at the delivery point for U.S. crude futures

    Brent for May settlement increased by $0.38 to $67.54 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for April delivery rose by $0.57 to $59.09 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of 8.45 to WTI. Gasoil for April delivery decreased by $1.75.

    Today indexes rise supported by supply cuts led by OPEC+. U.S. sanctions against oil producers Iran and Venezuela are also boosting prices

    OPEC and its allies met in Azerbaijan to monitor their crude supply reduction pact, where they said they would exceed commitments in the coming months. A ministerial panel of OPEC and its allies recommended that they cancel the extraordinary meeting scheduled for April 17-18 and hold the next regular talks on June 25-26.

    On Mar.17, Saudi Arabia signaled the producers may need to extend supply cuts past June into the second half of 2019 amid OPEC’s job in rebalancing the oil market was far from done as global inventories were still rising despite U.S. sanctions on Iran and Venezuela. Russia also said production cuts would stay in place at least until June, when Washington’s next steps on reducing Iran’s and Venezuela’s oil exports become clearer. Russia has been slow to cut its oil output in line with January targets, saying it is difficult to do so in winter. Saudi Arabia has therefore cut its own oil output to well below its targets to compensate for other producers.

    The United States has been increasing its own oil exports steeply in recent months while imposing sanctions on Venezuela and Iran to reduce their shipments to global markets.
    Washington’s policies have introduced a new level of uncertainty for OPEC as it struggles to predict the balance of global supply and demand.

    At the same time, signs of a reduction in crude inventory levels at the U.S. storage hub in Cushing, Oklahoma also boosted futures. Crude stockpiles at Cushing, the delivery point for WTI, fell 1.08 million barrels last week. Surging oil output in the United States has helped to offset the OPEC-led curbs.

    Concerns about a global economic slowdown also weighed on oil prices after data showed Japan’s exports fell for a third month in February. Europe, China and the U.S. economy statistics sound also weak, raising doubts about global oil demand.

    The United States has imposed stiff sanctions on OPEC’s third largest oil producer, Iran, but has given some waivers to buyers of its crude until May. Washington is also trying to oust Venezuela’s current president, Nicolas Maduro, and has imposed sanctions on that country’s oil.

    The energy minister of OPEC’s de facto leader, Saudi Arabia, said the market was looking oversupplied until the end of the year but that April would be too early for any decision on output policy.

    We expect bunker prices to demonstrate irregular changes today: USD 1-3 up for IFO, USD 1-3 down for MGO.




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
10:07 Jan De Nul plans to reduce CO₂ emissions by 15% a year
09:49 Brent Crude futures price is up 0.64% to $61.69, Light Sweet Crude – up 0.36% to $52.47
09:30 MacGregor automated mooring solution specified for the world's first autonomous and zero-emission container ship, Yara Birkeland
09:16 Baltic Dry Index is up to 1,062 points
09:07 GTT receives an order from HHI to design the tanks of two new LNG carriers
08:53 MABUX: Bunker market this morning, June 14
08:00 Long Beach cargo volumes down 16.6% to 573,623 TEUs in May 2019
07:01 Port of Los Angeles volumes up 7.8 percent to 828,662 TEUs in May 2019
06:58 MPA publishes second edition of guides on IMO 2020

2019 June 13

18:26 Maritime Technology Framework strengthens ties between DSME and DNV GL
18:05 J-ENG presents the latest technologies about MGO mono-fuel engine (UEC-LSJ), together with UEC42LSH and LP-EGR at 29th CIMAC World Congress
17:49 Port of Gdansk delegation takes part in IAPH conference, Guangzhou
17:28 Throughput of port Kaliningrad in Jan-May’2019 fell by 18% Y-o-Y to 4.98 million tonnes
17:04 Throughput of port Vyborg in Jan-May’2019 fell by 39% Y-o-Y to 373,000 tonnes
16:45 MarineTraffic partners with exactEarth to deliver most comprehensive vessel tracking yet
16:23 Throughput of port Primorsk in Jan-May’2019 grew by 8% Y-o-Y to 24.43 million tonnes
16:04 MarineTraffic partners with satellite AIS data provider exactEarth
15:39 Freight turnover of Neva-Metal (Saint-Petersburg) in 5M’19 fell by 10% Y-o-Y to 1.18 million tonnes
14:42 Viking Line announces additional departures on Helsinki-Tallinn routes during summer season
14:21 Throughput of port Vysotsk in Jan-May'2019 climbed by 8% Y-o-Y to 8.06 million tonnes
14:03 Hunter Group chooses OSM for technical management of newbuild VLCC fleet
13:49 Palau is approved by IMO as STCW White List member state
13:48 Jotun signs agreement with Hyundai Heavy Industries for a new type of marine paint
13:32 Bunker prices continue going down at the Far East ports of Russia (graph)
13:14 J-ENG rolls out its latest engine technologies at 29th CIMAC World Congress
12:39 Port of Ust-Luga handled 45.24 million tonnes in 5M’19, up 9% Y-o-Y
12:04 Jumbo awarded transportation & installation contract for Yunlin WTG foundations offshore Taiwan
11:03 Damen Marine Components acquires WK Hydraulics
10:50 Throughput of Port St. Petersburg in Jan-May'2019 climbed by 1% Y-o-Y to 25.01 million tonnes
10:36 Oshima Shipbuilding and DNV GL sign strategic cooperation
10:26 Damen Anchor & Chain Factory inks agreement with Fendercare at Seawork
10:11 Throughput of port Helsinki (Finland) in Jan-May’19 fell by 6.5% to 6 million tonnes (table)