• 2019 June 13 09:04

    MABUX: Bunker Market this morning, June 13

    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) declined on June. 12

    380 HSFO - USD/MT 393.86 (-2.85)
    180 HSFO - USD/MT 433.29 (-2.57)
    MGO - USD/MT 644.40 (-0.05)


    Meantime, world oil indexes also demonstrated downward changes on June. 12 amid buildup in U.S. crude stockpiles and worries about lower demand growth

    Brent for August settlement decreased by $2.320 to $59.97 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for July delivery fell by $2.13 to $51.14 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of 8.83 to WTI. Gasoil for July delivery decreased by $8.50.

    Today indexes are stable.

    The U.S. Energy Information Administration (EIA) on June,12 reported domestic crude stockpiles rose unexpectedly for a second week in a row, climbing 2.2 million barrels last week. It was forecasted a decrease of 481,000 barrels. At 485.5 million barrels, U.S. commercial stocks were at their highest since July 2017 and about 8% above the five-year average for this time of year. The crude-inventory rise came despite refinery runs at around 93% of capacity last week, nearing the season norm of 95% and above.
     
    At the same time the EIA data showed that crude imports have also been heavy at more than 7 million barrels the past two weeks, as refiners appeared to take advantage of the market’s recent decline to lock in cheaper supply. The trouble is they weren’t making enough gasoline to offset the higher imports, as refining margins had also been weakened by the market’s drop.

    Uncertain macroeconomic outlook and volatile oil production from Iran and others could lead OPEC to roll over supply cuts. With the next meeting of OPEC set for the end of June, the market is looking to whether the world's major oil producers will prolong their supply cuts. The energy minister of the United Arab Emirates, Suhail bin Mohammed al-Mazroui, said on June,12 that OPEC members were close to reaching an agreement on continuing production cuts.

    Weighing further on the market are fears that demand for energy will slow as the U.S.-China trade war threatens to push the world to the brink of recession. Over the past two weeks, several Wall Street investment banks have warned that the escalating U.S.-China trade war raises the possibility of an economic slowdown and low oil demand growth. Some banks have already cut their oil demand growth estimates for this year. The last month, fears of a global economic slowdown, and even recession, overtook fears that oil supply could become too tight with the U.S. sanctions on Iran and Venezuela, a fragile security situation in Libya, and heightened tensions in the Middle East. The EIA already cut its forecasts for 2019 world oil demand growth

    At the same time, there is a possibility of a truce between the Trump administration and Tehran that could put Iranian oil back on the market. Iran’s oil exports are about a million barrels below capacity now because of U.S. sanctions. Japanese Prime Minister Shinzo Abe, Trump’s chosen emissary for a peace deal with Iran, will be in Tehran until June,14 for talks with President Hassan Rouhani and the Islamic Republic’s Supreme Leader Ayatollah Seyyed Ali Khamenei. If the Iranians decide to hold talks, the president might even decide to suspend the sanctions as a goodwill gesture for the negotiations to begin.

    We expect bunker prices to demonstrate downward changes today: USD 9-12 down for IFO and  USD 6-8 down for MGO.




2019 June 25

09:46 MABUX: Bunker market this morning, June 25
09:16 Baltic Dry Index is up to 1,258 points

2019 June 24

18:05 Training Montenegro to combat oil spills
17:50 Four cruise ships visit the Port of Riga at the same time
17:27 Finnish Government proposes supplementary appropriation of EUR 40 million for basic infrastructure management
17:05 Austal delivers third guardian class patrol boat to the Australian Department of Defence
16:47 Incat Crowther announces contract to design a 65m catamaran passenger ferry
16:46 Construction and operation of dual-fuel ships has low economic efficiency – USC President
16:45 Maersk Drilling completes sale of jack-up Mærsk Giant
16:24 USC set to build floating electricity-generating facilities running on LNG supplied by bunkering ships
16:03 Van Oord and Mammoet enter into cooperation with scale-up Verton
15:45 United Shipbuilding Corporation to launch the first LNG-powered ferry for Ust-Luga – Baltijsk line in late July
15:30 United Shipbuilding Corporation establishes USC-Propulsion and USC-Interior subdivisions
15:03 MOL signs deal on a long-term charter contract to utilize "MOL FSRU Challenger" for Hong Kong Offshore LNG Terminal Project
14:42 New USC Vice-President, Civil Shipbuilding, to get into office on 10 July 2019
14:21 USC expects its Astrakhan cluster to build 12 river-sea class ships per year
14:03 Yang Ming announces new China-Thailand direct service
13:37 Port of Rotterdam Authority to collaborate with four new companies
13:25 Igor Vasilyev appointed as Acting General Director of FTI Rostransmodernizatsiya
13:02 ARIES gained ABS Certification: Middle East 1 st Remote Inspection Techniques specialist
12:20 BC Ferries releases year-end results
12:10 Keel laid for the first of Damen’s revolutionary new FCS 7011 Crew Change
11:56 Average wholesale prices for М-100 HFO down to RUB 15,377 in RF spot market
11:29 FESCO to launch new container train to China via Far East overland route
10:58 Southern Center of Shipbuilding and Ship Repair acquired property of Krasniye Barrikady plant
10:35 Satti floating drilling unit owned by Kazmortransflot delivered to Azerbaijan
10:13 Throughput of Chinese ports grew by 4.1% to 5.5 billion tonnes in Jan-May’2019
09:53 MABUX: Bunker Market this morning June, 24
09:52 Brent Crude futures price is up 0.4% to $64.71, Light Sweet Crude – up 0.68% to $57.82
09:34 Container throughput of port Hong Kong (China) down 7.7% to 7.55 million TEUs in Jan-May’2019
09:17 Baltic Dry Index is up to 1,239 points

2019 June 23

16:29 INPEX submits revised plan of development for Abadi LNG Project
15:13 Oceanwide Expeditions: Hondius sister ship m/v Janssonius ordered for 2021
14:19 CMA CGM announces FAK rates on Asia - Pakistan, India and Sri Lanka service
13:46 Coast Guard rescues five from capsized boat in Chesapeake Bay
12:43 Danske Commodities signs 20-year PPA with Hywind Scotland wind farm
10:29 TMC sets up office to support Chinese yards

2019 June 22

15:24 AAPA selects Christopher Connor as its new CEO
12:37 TMC contracted by VARD to supply marine compressors for Viking Cruises' vessels
11:23 ABS to class first ‘tri-fueled’ vessel for Harvey Gulf
10:13 Port of Oakland steps up as ships carry bigger loads than ever
10:05 Coast Guard responds to barge aground in Naknek, Alaska

2019 June 21

18:07 Austal gets Navy's modification to littoral combat ship contract
18:04 MODEC awarded Letter of Intent by Petrobras related to Búzios 5 FPSO
17:58 Frontline announces acquisition of VLCC resale and two LR2 newbuildings
17:56 BC Ferries adds extra sailings for the summer
17:55 Maritime Anti-Corruption Network to develop Global Port Integrity Index and Scale Up Collective Action in West Africa
17:37 Siemens Gamesa receives first offshore wind preferred supplier nomination in Japan: up to 455 MW for Obayashi Corporation
17:12 Krasnoye Sormovo launches final RSD59 ship in a series four units ordered by STLC
16:38 Ships of RF Navy’s Pacific Fleet involved in exercises in the Sea of Japan
16:26 Government of Canada enters into negotiations with Chantier Davie for construction of two ferries
16:14 Standic expands with state-of-the-art chemical storage terminal in Port of Antwerp
15:50 Klaipedos Nafta announced call for Chief Executive Officer
14:27 Safety management training takes centre stage
14:26 USCG says Polar Security Cutter to be homeported at Seattle
14:03 Maersk to offer customers carbon-neutral transport
13:35 LUKOIL’s dividends payable for 2018 will be RUB 250 per ordinary share
13:15 Anthony Veder expands fleet with taking in five gas carriers from GATX
13:12 HELCOM’s Executive Secretary to step down in August 2019
12:48 Novotrans acquired stevedoring company operating Ro-Ro ferry facility at the port of Ust-Luga