• 2019 May 16 08:40

    MABUX: Bunker market this morning, May 16

    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) turned into slight downward evolution on May 15:

    380 HSFO - 411.00(-2.86)
    180 HSFO - USD/MT - 457.64(-4.50)
    MGO - USD/MT - 655.93(-3.71)


    Meantime, world oil indexes inched up on May 15 as the prospect of mounting tensions in the Middle East hitting global supplies overshadowed an unexpected build in U.S. crude inventories.

    Brent for July settlement increased by $0.53 to $71.77 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for June delivery rose by $0.24 to $62.02 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of 9.75 to WTI. Gasoil for June gained $14.25.

    Today morning oil indexes continued slight upward trend.

    Crude oil production in the Organisation of Petroleum Exporting Countries fell by just 45,000 bpd in April, despite continued deep cuts by the largest producer, Saudi Arabia and continued decline in Venezuela and Iran. Iran registered the deepest decline in production in April, by 154,000 bpd to 2.554 million bpd. Interestingly, Iraq booked the second-largest decline, at 113,000 bpd to 4.63 million bpd. Saudi Arabia produced 45,000 bpd less crude oil in April than in march, at 9.742 million bpd. At the same time, Venezuela’s oil production decline was reversed last month, with output rising by a daily average of 28,000 bpd to 768,000 bpd. Still, this daily average production rate is a lot below what Venezuela produced last year: that average was 1.3354 million bpd.

    It looks like OPEC is having a hard time predicting its next steps in the production cut agreement and in general. Unforeseen events such as Russia’s temporary suspension of exports via the Druzhba pipeline following contamination are interfering with the cartel’s estimates of the most likely supply drop by the end of the year, making it harder to decide on whether to continue the cuts or start pumping more as large importers would like.

    Iran told European diplomats that it needs to export as much as 1.5 million bpd in order for it to stay in the 2015 nuclear deal, although this was likely a negotiating tactic. Last year, Iran had demanded 2 million bpd in a previous round of negotiations. Iran says that the European Union must provide some benefit to Iran for staying in nuclear deal after U.S. sanctions seek to eliminate all Iranian oil exports.

    Saudi Aramco restarted pumping oil on May15 through the pipeline which was hit by drone attacks a day ago. Two pumping stations along Aramco’s East-West oil pipeline in Saudi Arabia were attacked by explosive-laden drones in the early morning local time on May 14. The sabotage caused minor damage and a fire at one of the pumping stations. The heightened security concerns and the potential threat to global oil supplies in the Middle East have rendered momentum support to oil and fuel prices.

    Part of the increased tariffs during the trade war between the U.S. and China will include U.S liquefied natural gas (LNG) imports, rising from a previous 10 percent levy to a damaging 25 percent starting June 1. The increase in tariffs already come as Chinese imports of LNG from the U.S. has plunged. In 2018 some 27 LNG vessels travelled from the U.S. to China, down from 30 in 2017. Meanwhile, most of those that left U.S. ports last year did so before the trade war started, with 18 tankers going to China in the first half of the year and just nine during the second half. Now that China is increasing LNG tariffs from 10 to 25 percent, these export numbers will drop even more.

    In a new report on energy investment, the IEA said that spending levels in 2018 stabilized for oil, gas and coal, but declined for renewables. Still, the agency said that the oil industry is not spending enough to ensure adequate supply in the years ahead.

    U.S. crude inventories rose unexpectedly last week to their highest since September 2017. Crude stocks swelled by 5.4 million barrels, forecasts had expected a decrease of 800,000 barrels. Still, the build was smaller than the nearly 9 million-barrel build estimate on May 14 by the American Petroleum Institute (API), a trade group, which helped lift crude price sentiment.

    We expect bunker prices may continue firm upward evolution today in a range of plus 1-3 USD for IFO and plus 8-12 USD for MGO.




2020 January 25

16:11 “Flower Power” from Sanmar and Robert Allan Ltd. – 200 Tugs and Counting
15:27 USCG Cutter Polar Star arrives in Antarctica
13:11 TORM orders two scrubber-fitted LR2 newbuildings
12:47 USCG opens Blue Technology Center of Expertise
10:47 Hamburg Süd’s COO Frank Smet to step down
08:31 NORDEN signs charter for more women in shipping

2020 January 24

18:07 Port of Hamburg not expecting reduction in container throughput caused by liner service changes announced by Ocean Alliance and Maersk
17:42 First ship-to-ship LNG bunkering operation in the Port of Rostock
17:40 Engineering troops to develop a plant for desalination of water in the Arctic
17:16 Gasum completes 200th ship-to-ship LNG bunkering
16:52 Carnival Mardi Gras floated out at Meyer Turku shipyard
16:51 Former COO of Stanlow refinery: “The first step of the digitalization is underway”
16:27 Tallink’s vessel Silja Europa to be renewed at Turku Repair Yard in Naantali, Finland
16:04 United Heavy Lift GmbH Hamburg takes over a modern Heavy Lift fleet of nine eco-friendly F900 newbuildings
16:03 CMA CGM announces FAK rates from West Med, Adriatic, Black Sea and East Med to Far East, Middle East Gulf and Red Sea
15:32 First Deputy PM Andrey Belousov held meeting with senior executives of RF Transport Ministry
15:03 Dublin Port Company christens its new Pilot Boat, DPC Tolka
14:30 Sergey Sapegin takes the helm of Kaliningrad Railway
14:03 The Grande Houston delivered to the Grimaldi Group
13:25 Port of Guayaquil inaugurates deepened maritime access channel
12:58 Bunker prices are table at the port of Saint-Petersburg, Russia (graph)
12:01 CMA CGM announces PSS for reefer exports from Ecuador to Europe, Baltic, Mediterranean, Middle East & Asia
11:00 MAN Energy Solutions wins contract to supply the main propulsion engines for two patrol vessels
10:33 The ShipFC project to convert offshore vessel to run on ammonia-powered fuel cell
10:22 MABUX: Bunker market this morning, Jan 24
09:31 Brent Crude futures price is up 0.35% to $62.26, Light Sweet Crude – up 0.4% to $55.81
09:14 Baltic Dry Index is down to 576 points

2020 January 23

19:00 Chembulk Tankers announces management changes
18:27 KOTUG provides salvage assistance to MV EM-OINOUSSES
18:07 Ocean Installer awarded contract with Dana Petroleum
17:42 Almost 290 cruise liners will call at Ports of Stockholm in 2020
17:37 NYK-operated coal carrier Sunshine Pride enters service for Joban Joint Power
17:19 Throughput of port Helsinki (Finland) in 2019 fell by 2% to 14.42 million tonnes (table)
16:48 Draft Strategy for Development of Russia’s Arctic Zone to be ready by 20 March 2020
16:05 The AUTOSHIP project receives funding of almost Euro 20.1 mln
15:21 probunkers signs LOI with Hyundai for the construction of two LNG bunker vessels
15:16 Perspectives for containers and ro-ro market discussed in Berlin
14:40 New intermodal train connection arranged from Luxembourg
13:37 Container Terminal Saint-Petersburg spent RUB 11 million under its social and charity programmes in 2019
13:03 Global Ports Group to renew handling equipment
12:29 Russia's Main Department of State Expertise approves reconstruction at the port of Petropavlovsk-Kamchatsky
12:05 Port of Long Beach moves more than 7.6 million TEU in 2019
11:48 Croatian DIV Group in process to take-over Kleven Verft
11:00 Austal awarded A$15.5m contract for a 41 metre high speed catamaran ferry for SGTM Mauritius
10:56 MABUX: Bunker market this morning, Jan 23
10:27 ABS marks record-setting three years without a work-related lost time injury
10:25 IBIA: IMO 2020 preparations pay off
10:03 Brent Crude futures price is down 0.4% to $64.33, Light Sweet Crude – down 0.48% to $58.1
09:46 TransContainer dispatched test train with hazardous cargo in reefers from Korea to Poland
09:24 Baltic Dry Index is down to 623 points
09:08 Swissterminal and DP World enter strategic partnership
08:36 CMA CGM introduces NETWORKING INTERMEDIATION SERVICES

2020 January 22

18:37 BunkerTrace secures first commercial partnership with Marfin Management
18:07 MAN Cryo to supply icebreaking RoRos with fuel gas supply system
17:45 Throughput of Chinese sea and river ports in 2019 grew by 5.7% YoY to 13.95 billion tonnes
17:20 Ships of RF Navy’s Northern Fleet approached the Strait of Tunis
17:06 Boluda Towage Europe introduces 1st retrofit of conventional tug complying with IMO TIER III Standards in Zeebrugge
16:56 Russian-Japanese anti-piracy exercise successfully completed in the Arabian sea
16:05 European shipping industry urges the revival of Operation Sophia
15:38 Marubeni and Klaveness join forces to create the world’s leading dry bulk Panamax pool