• 2019 May 24 09:16

    MABUX: Bunker market this morning, May 23

    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) decreased on May 22:

    380 HSFO - 417.00 (-2.21)
    180 HSFO - USD/MT - 464.64 (-2.00)
    MGO - USD/MT - 662.43 (-3.14)


    Meantime, world oil indexes also declined on May 22 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 decreased by $1.19 to $70.99 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for July delivery fell by $1.71 to $61.42 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of 9.57 to WTI. Gasoil for June lost $12.50.

    Today morning oil indexes continue slight downward movement.

    Over the past week, oil prices have trended higher as concerns about escalating U.S.-Iran and Iran-Saudi standoffs have overshadowed bearish-side concerns about the U.S.-China trade war and slowing global economic growth. The rising tension in the Middle East and the critical oil tanker waterways in the region have had some forecasts return to talking about Brent Crude hitting US$80, US$90, or even US$100 a barrel, compared to the current level of around US$72 per barrel. JP Morgan, however, thinks that the return of the geopolitical risk premium in oil prices could be only for the short term, as U.S. shale production continues to grow, while global oil demand may falter amid uncertainties in the world’s economy.  

    OPEC+ reportedly discussed two options for increasing production in the second half of the year. The group weighed a plan that would end over-compliance with the cuts, which could add 0.8 million bpd of supply back onto the market. Or, the group could agree to trim the cuts from 1.2 to 0.9 million bpd. However, the group will wait until the June meeting in Vienna to make a decision, and many members are inclined to extend the cuts.

    President Trump said that any trade deal with China must skew in favor of the U.S. because of past trade actions by China. The message seems to lower odds of a breakthrough in the weeks ahead. Meanwhile, the Trump administration lifted steel tariffs on Mexico and Canada.

    U.S. Secretary of Energy Rick Perry said that a sanctions bill on the Nord Stream 2 pipeline would come in the not too distant future. Separately, Gazprom said that delays in getting permits from Denmark could push off the in-service date of the project into 2020 from late 2019.

     U.S. shale operators are on course to boost production by 16 percent this year. That could put output up 1.1 to 1.2 million bpd by the end of the year. Despite temporary challenges faced in the beginning of the year, E&P companies are set to deliver on their original production and capital targets, with some being well positioned to perform above initial expectations. Several operators have in fact raised their production guidance for the remainder of the year.

    We expect bunker prices will continue downward trend: 5-7 USD down for IFO, 9-12 USD down for MGO.




2020 April 6

18:37 Okeanis Eco Tankers announces three year VLCC time charter
18:06 Bureau Veritas helps to manage risk thanks to digitalized inspection services
17:45 Turnover of DeloPorts terminals in January-March of 2020 reached 2.6 mln tonnes, up 44% YoY
17:39 The production of Tallink’s new car and passenger ferry MyStar has started at Rauma shipyard
17:12 Maersk Container Industry signs first Star Cool milestone contract with Evergreen
17:06 Lloyd’s Register completes six-day, three-person audit for marine and offshore component and equipment business Whittaker Engineering
16:30 8,800 cbm of material dredged in Korsakov seaport
16:08 MABUX Digest: Top events on global bunker market: Week 14
16:06 CMA CGM cancels PSS for cargo from East Africa to Asia
15:59 The Korean Register releases the latest updated version of KR-CON
14:50 DNV GL’s new MMC unlocks unprecedented machinery efficiencies and insights
13:57 Technical fleet of Moscow Canal to begin navigation season on April 24
13:33 Construction of Tallink Grupp’s newest eco-friendly LNG-powered shuttle ferry to begin at RMC shipyard in Rauma
12:46 World Ports Covid19 Information Portal established
12:22 IMO issues guidance for delays in newbuild vessel deliveries due to COVID-19
12:00 Nanjing Jinling Shipyard launches the second of G5GG ro-ro vessels for Grimaldi Group
11:18 Average wholesale prices for М-100 HFO fell to RUB 6,299 in RF spot market
11:00 Port of Singapore remains open amidst additional precautionary measures
10:21 Brent Crude futures price is down 1.61% to $33.56, Light Sweet Crude – down 3.18% to $27.43
10:09 NovaAlgoma Short Sea Carriers takes delivery of new mini-bulker
09:50 CIMC Raffles cuts first steel for largest Ice Class ro-ro
09:34 MABUX: Bunker market this morning, Apr 06
09:32 RF Government approves draft Energy Strategy until 2035
09:15 Baltic Dry Index is down to 616 points

2020 April 5

17:08 USCG oversees disembarkation of 250,000 from cruise ships
16:23 PGS announces capacity adjustments, to lay-up its 3D vessels as a response measure to COVID-19
15:14 Coast Guard Cutter Hamilton offloads more than 20,000 pounds of illegal drugs
14:33 Huntington Ingalls Industries awarded $1.50 billion contract for the construction of LPD 31
13:27 PGS completes acquisition on Kwanza Shelf and releases fast-track data
12:13 Viking launches new channel VIKING TV with daily cultural content
11:29 Crowley tugs work together to load LP Odyssey launch platform for offshore ship transfer
11:06 APL announces arrangement for cargo bound for Chittagong
10:14 U.S. Navy selects HII to provide logistics support for surface ships and submarines

2020 April 4

16:41 Bollinger delivers the 38th FRC Harold Miller to the USCG
15:21 APL announces new LSS as from May for Trans-Pacific eastbound market
14:47 Viking announces Mississippi River cruises
13:34 Iridium partner Globalsat equips Argentine Navy’s Fortuna III yacht with Iridium Certus® Service
12:23 BlueWater Reporting posts report on COVID-19’s impact on China’s box volumes, economy
11:08 Torqeedo's milestone 100,000th electric drive goes to Spirit Yachts

2020 April 3

18:42 Concordia Damen nominated to build new, sustainable training vessel for STC Group
18:27 Diana Shipping announces time charter contract for m/v Alcmene with Cargill
18:07 Breakbulk Europe to take place from 29 September to 1 October 2020
17:51 Northern Sea Route cargo traffic in 3M’2020 totaled 7.83 million tonnes, up 7.7% YoY
17:28 ECSA Board: Shipping industry keeps Europe running but will need more EU support to recover
17:14 Tallink continues transporting passengers on Tallinn-Helsinki route
16:50 GT Morstoy completed slope protection under LUGAPORT project
16:25 World Maritime University stays connected in uncertain times
15:46 FESCO provided agent services for vessel delivering platform of Sea Launch spaceport to Primorye Territory
15:22 Rosmorport's Azov Basin Branch carries out measures to prevent COVID-19 spread
14:57 New bunker alert service available for BIMCO members
14:33 NUTEP recognized as best in Basic business activities nomination of Best Stevedore contest
13:49 DeloPorts continues to operate despite quarantine and days off in Russia
13:24 AS Tallink Grupp published its statistics for March and first quarter of 2020
13:01 Zeebrugge Port Authority facilitates extra ground for port users in need due to corona crisis
12:40 Crisis caused by Covid-19 brought changes and highlighted new opportunities for port of Riga
12:18 Sea Port of Saint-Petersburg JSC arranged testing of its employees to detect coronavirus
12:15 Ocean Yield ASA announces delivery of modern dry bulk vessel with long-term charter
11:52 Vladimir Solodov appointed as Acting Governor of the Kamchatka Territory
11:00 Samherji Holding granted an exemption from mandatory bid obligation in Eimskip
10:49 Сorvettes of RF Navy's Baltic Fleet completed training anti-submarine missions at sea