• 2019 April 8 10:02

    MABUX: Bunker Market this morning April, 08

    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) slightly increased on Apr. 05

    380 HSFO - USD/MT 423.07 (+0.78)
    180 HSFO - USD/MT 468.14 (+0.07)
    MGO - USD/MT 639.50 (+2.93)


    Meantime, world oil indexes also rose on Apr. 05 driven up by OPEC's ongoing supply cuts, U.S. sanctions against Iran and Venezuela and strong U.S. jobs data.

    Brent for June settlement increased by $0.94 to $70.34 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for May delivery rose by $0.98 to $63.08 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of 7.26 to WTI. Gasoil for April delivery increased by $2.25.

    Today oil indexes continue to rise. Brent and WTI both hit their highest levels since November last year at $70.76 and $63.48 per barrel, respectively, early today.

    OPEC+ have pledged to withhold around 1.2 million barrels per day (bpd) of supply this year to prop up prices. OPEC-led supply cuts meant excess inventories are disappearing and the market looks healthy.

    Strong U.S. jobs data from Apr. 05 and U.S. sanctions against OPEC-members Iran and Venezuela also support oil indexes.

    Sanctions can cut 500,000 bpd of Venezuelan exports. Add that to a cut in Iran waivers and prices can rise substantially. US will sanction 34 vessels owned or operated by PDVSA and two companies that move Venezuelan crude to Cuba. The sanctions target two companies, Ballito Bay Shipping and ProPer In Management, which delivered Venezuelan oil to Cuba in February and March on the crude tanker Despina Andrianna. The US also sanctioned 34 vessels that PDVSA has an interest in. The sanctions are the latest punitive actions by the Trump administration, as it aims to remove Venezuelan President Nicolas Maduro from power. The US recognizes opposition leader Juan Guaido as Venezuela’s legitimate leader.

    A significantly higher oil price would make it more difficult for the U.S. government to drive Iranian oil exports down to zero as quickly as possible. Exemptions from U.S. sanctions on importers of Iranian oil will expire in early May. The U.S. government granted the exemptions in November as oil prices rose in response to tightening OPEC production, which was amplified by Venezuela’s production decline, and anticipation of the Iran sanctions.

    At the same time, there remain some factors that could bring prices down later this year. Russia is a reluctant participant in its agreement with OPEC to withhold output, and Russian oil production may increase again if a deal with the producer club is not extended once it expires before July 1. Russian oil output reached a record high of 11.16 million barrels per day (bpd), last year.

    In the United States, crude oil production reached a record 12.2 million bpd in late March. U.S. crude exports have also risen, breaking through 3 million bpd for the first time earlier this year.

    There also still remain concerns about the health of the global economy, especially should China and the United States fail to resolve their trade dispute soon. Global (trade) demand has weakened, and existing tariffs on Chinese goods shipments to the U.S. are providing an additional drag, although Chinese monetary stimulus measures would likely support growth over 2019.

    The weekly U.S. rig count published by industry firm Baker Hughes showed its first surge in oil rigs in seven weeks: a 15-unit climb last week to 831 rigs. EIA data on Apr.3 showed a crude inventory build of 7.2 million barrels. That build came from issues at the Houston Ship Channel last month that slowed U.S. oil exports.

    Expect bunker prices to continue slight upward changes today: USD 4-6  up for IFO, USD 1-3 up for MGO.




2019 August 19

18:41 Andrey Zubarev takes the helm at Sea Port St. Petersburg
18:36 Hapag-Lloyd announces General Rate Increase from East Asia to South America Eastcoast
18:26 Rosterminalugol YTD coal exports volume hits the 15-millionth-tonne mark
18:04 CMA CGM Group to take part in the Asia Fruit Logistica 2019 in Hong Kong
17:36 MPA launches Singapore’s first Maritime Sustainability Reporting Guide
17:04 ACO Marine commissions a series of Clarimar wastewater treatment plants for Jadrolonija
16:35 Suez Canal Container Terminal announces plans to open reefer repair hub to all brands
16:19 Jumbo and GoodFuels partner to take sustainable bio-fuel oil to the offshore support market
16:11 Main phase of Beloomut hydro engineering system rehabilitation project to be completed by the end of 2019, Moscow Canal authority says
15:58 LR awards world’s first digital type approval to HHI
15:32 d’Amico International announces the sale of one of the vessels
15:09 Samsung Heavy to advance smart ship technology in cooperation with equipment producers
14:17 JFD signs strategic partnership with Aquacentrum Den Helder to provide submarine escape training
13:09 Samsung Heavy Industries to win orders for 10 LNG-fueled vessels
12:53 Kraken’s ThunderFish® delivered to DRDC, Canada
12:09 Sinanju signs 2-year time charter agreement with ExxonMobil for LNG-powered “Marine Vicky”
11:18 MODEC announces issuance of project bond for FPSO charter project
11:16 Registration underway for “Import Substitution in Russian Shipbuilding: Ambition and Reality” Roundtable
11:09 Busan Port-Qingdao Port concludes MOU to promote cruise business
10:08 RAN signs two year lease extension with the National Australia Bank for its two Cape Class Patrol Boats
09:43 Brent Crude futures edge up to $ 59,28, WTI – to $ 55,34
09:08 The BPA and the Port of Rotterdam Authority concludes a development agreement to construct and operate the Rotterdam Distribution Center
09:01 Baltic Dry Index rises 2% to 2088 points
08:56 MABUX: Bunker market this morning, Aug 19
08:49 Hapag-Lloyd announces General Rate Increase from East Asia to Latin America

2019 August 18

16:51 USCG responds to ferry aground in Boston Harbor
15:09 NOAA awards $2.7 million in grants for marine debris removal and research
13:02 BAE Systems cuts steel for UK Royal Navy's HMS Cardiff
12:46 Kongsberg Digital simulation and software selected to fast-track R&D at new autonomous ship centre in Korea
11:05 NYK sponsors endangered Sea Turtle Research
10:56 Coast Guard cites passenger vessel for operating illegally, terminates voyage

2019 August 17

14:24 Kinder Morgan announces additional projects to enhance capabilities at Houston Ship Channel Facilities
13:31 Damen Shipyards Cape Town joins Women’s International Shipping & Trading Association
12:28 CMA CGM announces rate restoration for Asia to West Africa trade
11:32 APL informs on voil sailing on Asia-Indian Subcontinent Service in August
10:58 Pre-commissioned USCG's Cutter Midgett makes second cocaine seizure within five days

2019 August 16

18:16 Port of Vyborg volumes in Jan-Jul plummet 29% to 687,700 tons
18:06 Hapag-Lloyd announces rates from East Asia to North Europe and Mediterranean
17:36 Norwegian Encore leaves MEYER WERFT's building dock
17:06 Balltec secures North Sea decommissioning contract from Heerema Marine Contractors Nederland
16:35 Canada Infrastructure Bank signs MoU with the Port of Montreal on Contrecoeur port expansion project
16:05 Vår Energi AS awarded an EPCI contract to Rosenberg Worley AS
16:03 Low-sulphur marine fuel sales by Gazprom Neft in the first half of the year increased by 11% to 121,400 tonnes
15:48 Samsung Heavy to advance smart ship technology in cooperation with equipment producers
15:36 Throughout of oil port Primorsk in Jan-Jul 2019 increased 14% to 35.74 million tonnes
15:14 New mid-year record for container volumes through the Port of Vancouver
15:11 USCG repatriates 25 migrants to the Dominican Republic
14:27 Port of Vysotsk throughput in January-July rose 7% to 11.14 million tonnes
14:10 Austal signs A$126 mln contract to export two Cape Class Patrol Boats
13:14 Seven-month cargo volumes of Port of Ust-Luga increase 10% to 62 million tonnes (update)
13:05 NORDEN signs multiple long-term global contracts
12:05 APM Terminals Poti to implement uninterrupted 24/7 operations
11:39 Port of St. Petersburg seven-month volumes rise 2% to 35 million tonnes (update)
11:05 Steel cutting ceremony for the next AIDA LNG cruise ship at MEYER WERFT
10:48 Tekmar Energy selected for Formosa 1 Phase 2
10:44 Port of Hamburg seaborne cargo throughput up 4.1 percent to 69.4 million tons in H1 2019
09:55 Crude futures prices tend upward again: Brent Crude rises to $ 58,88, WTI – to $ 55,16
09:34 Baltic Dry Index leaps 97pts to 2047 points
09:27 Bunker prices show mixed movements at Port of St. Petersburg
08:41 MABUX: Bunker market this morning, Aug 16