• 2019 May 20 08:59

    MABUX: Bunker market this morning, May 20

    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) continued upward trend on May 17:

    380 HSFO - 418.57(+7.43)
    180 HSFO - USD/MT - 464.79(+6.86)
    MGO - USD/MT - 668.64(+5.43)

     Meantime, world oil indexes edged lower on May 17 due to demand fears amid a standoff in Sino-U.S. trade talks.

    Brent for July settlement decreased by $0.41 to $72.21 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for June delivery dropped by $0.11 to $62.76 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of 9.45 to WTI. Gasoil for June lost $8.25.

    Today morning oil indexes have turned into slight upward correction.

    The escalating trade war between the U.S. and China is keeping oil prices subdued, but the fear premium seems to be growing as tensions across the Middle East threaten outages.

    Last week President Trump essentially blacklisted Chinese telecom giant Huawei Technologies from operating in the U.S., escalating the standoff with China. The Chinese government offered a cautious tone in response to trade actions from Washington, but Beijing and state media are taking an increasingly strident line, which suggests China is not close to backing down. China’s currency slid on the news, as did the Shanghai Composite Index.

    The IEA downgraded its demand estimate for 2019 by 90,000 bpd, as a result of an unexpectedly oversupplied first quarter.  The lower demand figure ultimately meant that the global oil market was in surplus in the first quarter by about 0.7 million bpd, a larger glut than expected. As per IEA, the U.S.-China trade war could complicate the situation. The OECD estimates that last year’s round of tariffs shaved off a quarter percentage point from GDP in both countries. The latest increase in tariffs could double the impact to a half percentage point by 2020. The IEA’s resume is that the oil market is sending mixed signals. Weaker demand combined with supply outages and slowing but still significant production growth – it gives a confusing picture in which the market is tightening.

    After about two weeks of rapid escalation in tension between the U.S. and Iran, there might be some signs of the de-escalation attempts made by the U.S. side. President Trump met with Swiss President Ueli Maurer last week. The Swiss have acted as a backchannel for U.S.-Iran talks in the past, which raised speculation that the White House might be trying to decrease the tension. Privately, Trump has said he doesn’t want war with Iran.

    No increased threat seen in Iraq, despite U.S. embassy withdrawal. Royal Dutch Shell said that it was monitoring the security situation in Iraq after the U.S. pulled out embassy staff in Baghdad due to an alleged threat from Iran. Shell, ExxonMobil, BP and others are operating as usual. The decision to remove some workers appears to be a political decision.

    The assault on Tripoli by the Libyan National Army (LNA) has fallen into a deadlock, and the ongoing fighting shows no sign of nearing resolution, despite calls for a ceasefire by global powers. For weeks, Libya’s oil production has held up surprisingly well. Output even rose a bit in April by 71,000 bpd, reaching 1.176 million barrels per day (bpd). The increase is impressive in the context of the outbreak of civil war. But even though Libya managed to prevent production and export outages over the last few weeks, it’s not clear that successful streak can continue, especially because a stalemate between the two fighting factions (LNA and the internationally-recognized Government of National Accord (GNA))
    only increases the odds of an outage.

    The recent attacks on Saudi oil tankers near the Persian Gulf could increase the cost of insurance and security, which may ultimately push up oil and fuel prices.

    The number of active oil and gas rigs fell again in the United States last week, after a string of losses in the weeks prior, keeping the overall rig count well below year-ago levels for a sixth week in a row. The total number of active oil drilling rigs in the United States fell by 3 to reach 802. The combined oil and gas rig count is 987, with oil seeing a 42-rig decrease year on year. US oil production, too, fell for two weeks in a row, with week ending May 10 coming in at 12.1 million bpd—200,000 bpd off the April 26 high of 12.3 million bpd.

    We expect bunker prices may slightly decline today in a range of minus 2-7 USD.




2019 August 21

17:36 Napier Port’s shares commence trading on the NZX
17:06 ZIM announces Q2 2019 results
16:41 Waterfront Shipping and Marinvest welcome second-generation low emission methanol-fuelled vessels
16:35 CMA CGM announces FAK rates from ISC to North Europe and the Mediterranean
16:32 Grady-White Boats honors MaineMax Pensacola as the worldwide sales leader
16:05 Hapag-Lloyd launches new South East Asia to Australia Services // SEA and S2A to start in October
15:42 Ferry in Estonia upgraded to battery-hybrid by Norwegian Electric System
15:21 Organisations release Joint Industry Guidance on the supply and use of 0.50%-sulphur marine fuel
14:55 Multipurpose small-draft salvage ship of MPSV12 project left for sea trials
14:30 BC Ferries releases first quarter results
14:04 DOF awarded two AHTS contracts to support drilling operations in New Zealand
13:27 Vladivostok offers second venue of “Import Substitution in Russian Shipbuilding: Ambition and Reality” roundtable
13:03 Workshop in Malaysia to help bring into operation the Regional Oil Spill Contingency Plan in South East Asia
12:46 Rosneft BOD recommended 1H’19 dividends at RUB 15.34 per share
12:25 Registration is underway for “Development of Icebreaking and Support Fleet” conference to be held as part of Neva-2019 exhibition
12:03 Ocean Yield extends option with Aker Energy for long-term charter of the FPSO Dhirubhai-1
11:41 Rosneft reports 9-pct increase of its 1H 2019 net income to RUB 325 bln
11:24 Vasily Boitsov appointed as USC Vice-President for Technological Development
11:02 Jan De Nul completes installation of all twenty foundations on the 120MW Formosa 1 Phase 2 wind farm in Taiwan
10:45 RF Ministry of Industry and Trade to prevent outflow of shipbuilding contracts from Russian shipyards
10:17 Scotline orders newbuild vessel from Royal Bodewes
10:16 Brazil readies its biofouling task force
09:51 Clean Arctic Alliance calls on Nordic Prime Ministers to support a ban on heavy fuel oil
09:47 Bunker market sees mixed price movements at the port of Saint-Petersburg, Russia (graph)
09:28 Brent Crude futures price is up 0.48% to $60.32, Light Sweet Crude – up 0.36% to $56.33
09:13 Baltic Dry Index is down to 2,059 points
09:00 MABUX: Bunker Market this morning August, 21

2019 August 20

18:40 ATON repair and maintenance shop to be built at navigation support post in Taganrog Bay
18:06 CMA CGM announces FAK rates from Asia to North Europe
17:29 Wallem-managed bulk carrier rescues Indonesian fishermen lost at sea for 10 days
17:06 MAN Energy Solutions and Samsung Heavy Industries sign a strategic cooperation agreement for the digitization of marine engines
16:35 CMA CGM announces GRR from Asia to East and South Africa
16:34 IAA PortNews offers its video on Russian bunkering market being prepared for 2020 sulphur cap
16:11 ABB’s digital solution for shipping fleets helps to further reduce fuel costs and environmental footprint
15:49 Passenger Port of Saint Petersburg to assist Lead Partner under Kotka Pax project
15:32 Associated British Ports launches first Port Operative Apprentice Scheme
14:56 Port of Gdansk makes another step towards the Central Port project
14:28 Marine Cargo Bureau sponsors roundtable meeting “Import Substitution in Russian Shipbuilding: Ambition and Reality”
14:03 Diamond S Shipping commences fleet renewal efforts with sale of two vessels
13:54 NIBULON continues building floating crane of Project P-140
13:35 Bunker prices are flat at the Far East ports of Russia (graph)
13:30 Serco announces captains for Australia’s new Antarctic research vessel
13:13 RF Ministry of Labour approves ‘Stevedore’ standard
12:47 Russian Maritime Register of Shipping signed new agreement with Maritime Administration of the Republic of Cyprus
12:12 Strong second quarter helps Tallink deliver steady result for first six months of 2019
11:49 KN Klaipėda oil terminal berths to undergo reconstruction
11:28 Port of Tallinn named as one of Europe’s best in first ever ‘Ones to Watch’ list
11:01 World's largest container ship completes first voyage from Asia to Europe
10:43 Port of Tallinn reports its financial results for 2019 Q2 and 6 months
10:24 Rosgeo completed digital processing of seismic data on the Laptev Sea
10:02 Fitch Ratings affirms Panama Canal's 'A' rating with a stable outlook
09:50 KfW IPEX-Bank structures financing package for two cruise ships of the Genting Hong Kong Group
09:40 Baltic Dry Index is down to 2,067 points
09:17 Brent Crude futures price is up 0.15% to $59.82, Light Sweet Crude – up 0.14% to $55.22
09:09 MABUX: Bunker market this morning, Aug 20

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