• 2019 May 22 08:53

    MABUX: Bunker market this morning, May 22

    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) changed insignificant and irregular on May 21:

    380 HSFO – 441.87 (-0.57)
    180 HSFO – USD/MT – 478.05 (+0.11)
    MGO – USD/MT – 702.90 (-3.34)

    Meantime, world oil indexes also changed irregular on May 21 as the prospect of mounting U.S.-Iran tensions disrupting supply was offset by concerns that a lengthy trade war between Washington and Beijing would limit crude demand.

    Brent for July settlement increased by $0.21 to $72.18 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for June delivery gained $0.03 to $63.13 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of 9.05 to WTI. Gasoil for June lost $6.50.

    Today morning oil indexes demonstrate slight downward movement.

    OPEC and its partners may decide to keep the oil production cuts until the end of the year as the cartel fears a steep price drop if cuts were to be reversed within the next couple of months. However, there seem to be two ways to do that: one would be to have everyone comply 100 percent with the production targets set out in the December agreement that called for the removal of a combined 1.2 million bpd from global supply. Another is to allow individual members of the club to implement a different level of cuts by taking as baseline the average monthly production rate for a month of their choice between September and December 2018. However, while an attempt at strict compliance with the December targets would eventually reduce global inventories in the second half of the year, the other option would result in an eventual increase in the five-year average of global supply.

    Despite criticizing the U.S. decision not to extend any sanction waivers for Iranian oil customers, Turkey appears to be fully complying with the U.S. sanctions on Iran’s oil. Turkey was one of the eight buyers of Iranian oil that were given an initial six-month waiver to continue importing crude from Iran at reduced volumes after the U.S. slapped back sanctions on Iran in November last year. The U.S. ended all waivers for all Iranian customers as of early May. At the moment Turkey had reduced its imports from Iran and has started to buy more oil from Russia, Kazakhstan, and Iraq, to replace Iranian barrels,

    The Houthi rebels in Yemen said over the weekend that last week’s attack on an Aramco oil pipeline in Saudi Arabia was the start of military operations against some 300 vital military targets in the Kingdom and in the United Arab Emirates (UAE). The Houthis have identified targets such as military headquarters and facilities in the UAE and in Saudi Arabia, as well as their bases in Yemen. Saudi Arabia and Iran are essentially fighting a proxy war in Yemen, where the Saudis lead a military Arab coalition to restore legitimacy in the country, while the Houthi movement, which holds the capital Sanaa, is backed by Iran. The heightened tension in the Middle East and the U.S.-Iran standoff have been supporting oil prices in recent days.

    Western oil majors Total and Eni have suspended payments to the Russian companies that sold them contaminated crude via the Druzhba pipeline. Last month, Russia halted supplies via the Druzhba oil pipeline to several European countries due to a contamination issue. Normal deliveries via the pipeline are expected to resume in the second half of May. The supplies via the Druzhba pipeline are made according to Russian law, under which buyers first pay, and if they are not satisfied with the quality of the crude, they can claim damages and compensations. The Russian oil supply contamination has disrupted the refinery operations of some companies. Total, as an example, halted last week some of the units at its 230,000-bpd Leuna refinery in Germany to conduct technical checks.

    Crude and lease condensate production in the North Sea is set for lower levels in the summer months, further tightening the global oil market. Current unplanned outages at Oseberg and Flotta in the North Sea restrict a total of 160,000 bpd of North Sea production. It is estimated that outages in the North Sea in May will be 185,000 bpd. Yet, the biggest disruption is expected next month, when North Sea oil production is seen down to its lowest level since August 2014 because of scheduled maintenance at Ekofisk. The news rendered support to the fuel prices.

    We expect bunker prices will not haver firm trend and will change irregular in a range of plus-minus 1-4 USD.




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)