• 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 August 24

15:44 Vattenfall inaugurates Scandinavia’s largest offshore wind farm
14:42 Eastern Shipbuilding delivers the CAPT. JIM McALLISTER with a USCG Sub-M COI to McAllister Towing
13:26 Gulf of Mexico Lease Sale yields more than $159m in high bids, continues Upward Trend Under Trump Administration USDoI
11:38 Grieg Star takes delivery Supramax vessel the Star Damon
10:58 DNV GL launches renewables certification operations in U.S.

2019 August 23

18:36 Bridge parts transported for second Theemsweg route bridge
18:06 CMA CGM announces GRR from Asia to East and South Africa, Indian Ocean
17:55 Onezhsky Shipyard launches TSHD Yury Maslyukov
17:36 First CLEANBU wet-dry cargo switch with significant positive environmental impact
17:20 Atomflot and Baltiysky Zavod sign agreement on construction of fourth and fifth nuclear-powered icebreakers of Project 22220
17:05 CMA CGM announces FAK rates from Asia to the Middle East Gulf
16:45 MPI Resolution started blade repair campaign in offshore wind farm
16:35 PIL’s fleet attains Environmental Ship Index (ESI) certification
16:05 Botlek becomes Vopak's styrene hub
15:44 First-of-a-kind floating nuclear power unit Akademik Lomonosov leaves Murmansk for Pevek
15:23 CMA CGM will not use the Northern Sea Route
15:17 Vessel powered by ABB Azipod® propulsion reaches North Pole for the first time in history
15:13 NOVATEK’s Board recommends 1H 2019 dividend
14:47 PGNiG Group posts more than PLN 22.6bn in revenue for H1 2019
14:16 BC Ferries supports whale research at Galiano Island
13:52 Marsden Point, New Zealand tops BIMCO Terminal Vetting Report
13:29 Missile cruiser Marshal Ustinov entered Mediterranean Sea
13:08 Boskalis half year result 2019 tainted by offshore projects
12:34 Sevastopol Sea Port to be subsidized with RUB 54 million by municipal government
12:08 Bibby HydroMap commences second UXO survey for Vattenfall
11:40 Tests of unique replenishment system of Akademik Pashin tanker successfully completed
11:08 DP World Liège Container Terminal boosts eco-efficiency with Konecranes
10:55 Eesti Energia to use Klaipėda LNG terminal services
10:26 Hamburg, Germany to host 15th Arctic Shipping Summit on 4-5 December 2019
10:07 Bridge parts transported for second Theemsweg route bridge
09:53 Brent Crude futures price is up 0.1% to $55.98, Light Sweet Crude – up 0.01% to $55.35
09:34 Bunker market sees mixed price movements at the port of Saint-Petersburg, Russia (graph)
09:19 Baltic Dry Index is up to 2,118 points
09:07 Damen wins UX Design Award for Human Machine Interface for Tugs
08:35 MABUX: Bunker Market this morning August, 23
08:07 World’s largest all-electric ferry completes its maiden trip

2019 August 22

18:04 Australian Maritime College and KONGSBERG eye potential for VR training with renewed support program
17:39 Nordic Engineering sponsors roundtable meeting “Import Substitution in Russian Shipbuilding: Ambition and Reality”
17:04 DOF Subsea issues Financial Report for 2nd quarter of 2019
16:47 Karelia proposed construction of deep-water freight and passenger port Kem’
16:25 Bunker prices go down at the Far East ports of Russia (graph)
16:04 Navios Acquisition reports results for H1 2019
15:53 PJSC TransContainer reports its Financial Results under IFRS for 6M'2019
15:12 ReCAAP ISC has released Guidance on Abduction of Crew in the Sulu-Celebes Seas and Waters off Eastern Sabah
15:04 Essar Ports expects to meet 60 MT target for FY20
14:31 Höegh LNG announces interim results for the quarter and half year ended 30 June 2019
14:14 Peel Ports takes important step towards being Brexit ready
13:56 Yamal LNG shipped twenty million tons
13:35 Arctic block of Far East Investment and Export Agency headed by Dmitry Fishkin
13:13 Sea Machines successfully deploys industry’s first autonomous spill-response vessel
12:28 Fire onboard MV Pyotr Tchaikovsky kills one in Saint-Petersburg
12:13 Frontera Offshore and DOF Subsea join forces for the Subsea Construction and IMR Mexican market
11:31 Kalmar to enhance STS crane capabilities at EUROGATE Tanger
11:21 HELCOM publishes report on noise sensitivity of animals in the Baltic Sea
10:59 HELCOM gets a new Executive Secretary
10:35 Caterpillar Eurasia and Admiral Makarov University agreed on establishing a brand new up-to-date training center
10:10 Steps towards new treaty to protect marine biodiversity
09:38 Brent Crude futures price is down 0.41% to $60.04, Light Sweet Crude – down 0.38% to $55.47
09:20 Hapag-Lloyd announces changes of North Europe Mediterranean Express Service
09:13 Baltic Dry Index is up to 2,061 points