• 2019 June 17 09:16

    MABUX: Bunker market this morning, June 17

    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 June 14:

    380 HSFO – USD/M 387.89 (-0.49)
    180 HSFO – USD/M – 428.85 (+0.75)
    MGO – USD/MT – 638.40 (-0.16)


    Meantime, world oil indexes also slightly rose on Jun.14 after a suspected attack on two tankers in the Gulf of Oman near Iran and the Strait of Hormuz, through which a fifth of global oil consumption passes.

    Brent for August settlement increased by $0.70 to $62.01 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for July delivery rose by $0.23 to $52.51 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of 9.50 to WTI. Gasoil for July stayed also added $6.00.

    Today morning oil indexes do not have any firm trend waiting of the driver’s signs from global fuel market.

    An attack by an unknown party on two oil tankers in the Gulf of Oman has set up new momentum upward driver for bunker prices. After the possible Iranian attack on three vessels offshore the Emirati port of Fujairah last month, the current attack could be setting the scene for a direct military confrontation. Two tankers, the Front Altair and the Kokuka Courageous, both filled with petroleum and chemical products, such as methanol, were suspected to be hit by a torpedo. The targets don’t involve Saudi or Emirate vessels this time, but Western tankers. The involvement of torpedoes, which suggests a high level of planning by sophisticated culprits, could lead to a military escalation in the ongoing US/Arab-Iranian confrontation.

    Meantime, Saudi Arabia called for swift action to secure Gulf energy supplies and joined the United States in blaming Iran for attacks on two oil tankers in a vital shipping route that have raised fears of broader confrontation in the region. Saudi Energy Minister Khalid al-Falih said there must be a rapid and decisive response to the threat to energy supplies, market stability and consumer confidence.

    The risks to shipping in the Persian Gulf could lead to ballooning costs for insurance for oil tankers: owners that currently have their vessels in the area are checking and trying to find out more about security, crewing, insurance and legal aspects.

    In its latest report the IEA lowered its demand forecast by 0.1 million bpd compared to last month’s report. For its part, OPEC cut its demand growth forecast to 1.14 million bpd this year, a downward revision of 0.07 million bpd.

    OPEC brought its oil production down to 29.876 million barrels per day in May - a five-year low for the oil cartel as it struggles to control member production to keep oil prices stable. That production route represents a decrease of 236,000 barrels per day month on month as Iran’s production falters due to sanctions levied by the United States. Iran’s May oil production fell to 2.370 million barrels per day, a decrease of 227,000 barrels per day from April. Nigeria and Saudi Arabia, too, both produced fewer barrels in May, while both Angola and Iraq increased their May production. Total global oil consumption is expected to average 99.86 million barrels per day in 2019.

    If the U.S. and China can hash out a trade deal, it would lead to a wave of LNG exports from the U.S. to China. With a deal, the U.S. could account for 21 percent of China’s gas imports by 2025. If the standoff continues, the U.S. would only capture 5 percent of the market. There may also be major implications for the global LNG market. The U.S. is bringing on new projects and is set to become the No. 1 supplier. All that production needs to find a Buyer, and China is expected to take the title as top importer some time early next decade. Without a deal, it’s likely to turn to other countries including Russia, Australia and the Middle East to fulfill its gas demand.

    We expect bunker prices may slightly rise today in a range of plus 2-6 USD.




2019 November 21

09:51 Container throughput of port Hong Kong (China) down 6.2% to 15.27 million TEUs in Jan-Oct’2019
09:39 MABUX: Bunker market this morning, Nov 21
09:33 Brent Crude futures price is down 0.32% to $62.2, Light Sweet Crude – down 0.25% to $56.87
09:17 Baltic Dry Index is down to 1,260 points
08:29 Port of Hamburg cargo throughput grows 3.2 percent to 104 million tons in first three quarters of 2019

2019 November 20

18:10 FESCO provided transportation of nuclear submarines’ blocks and tanker from Kamchatka Territory to decommissioning site in Primorye
17:48 Cruise ship Mustay Karim returns from successful sea trials
17:06 ECOsubsea gets permission to start offering hull cleaning services to vessels at all Dutch Ports
16:56 Tallinn Shipyard wins prestigious 2019 Safety4sea Europort Awards
16:19 Wärtsilä solutions chosen to upgrade efficiency and environmental performance of Norwegian fishing vessel
16:03 Oboronlogistics completed the delivery of inert materials and special equipment to the Novaya Zemlya
15:00 ESPO: TEN-T policy review must bring maritime links on equal footing with land links
14:09 RF Govt Transport Commission approved inclusion of 57 projects into comprehensive plan for upgrading and expanding core infrastructure
13:35 Ecosystem-based management and maritime spatial planning are furthered at HELCOM-VASAB meeting in St Petersburg
12:57 RS takes part in Transport of Russia 2019
12:02 The world’s largest wind turbine tested on Maasvlakte
11:44 WMU signs MoU with International Maritime Academy, Lebanon
11:23 Tariffs for LNG services provided by KN approved for 2020
11:02 Bureau Veritas certifies Ørsted's Borkum Riffgrund 2 offshore wind farm
10:28 Hydraulic engineering structures of Volga-Don Canal underwent reconstruction
10:25 MABUX: Bunker market this morning, Nov 20
10:05 Bunker prices are stable at the port of Saint-Petersburg, Russia (graph)
10:02 Yang Ming to launch new Southeast Asia Services
09:46 Brent Crude futures price is down 0.11% to $60.84, Light Sweet Crude – up 0.04% to $55.37
09:41 Foreship launches Hamburg business to grow in Germany
09:29 Baltic Dry Index is down to 1,304 points
09:14 CMA CGM reviewes Low Sulphur Surcharge for RoRo Med Lines

2019 November 19

18:03 Port of Piraeus throughput reaches 5 million TEU this year
17:50 BPO joins the “More EU budget for transport” coalition
17:22 Throughput of Russia’s seaports expected to grow by 3% to 850 million tonnes in 2019
17:03 Expro awarded contract extension with INPEX, offshore Australia
16:45 Gasum expands their maritime fuel supply by new Swedegas’ facility in the port of Gothenburg
16:24 IMO helps train future leaders in maritime policy
16:03 CSV Bourbon Oceanteam 101 extends charter contract with client for works in Angola
15:03 MSC appoints Soren Toft as CEO for container shipping & logistics
14:21 Shipment of half a billionth tonne of coal from Vostochny Port kicked off by Sergey Ivanov and Yevgeny Ditrikh
14:02 ICTSI proposal to develop Iloilo ports complete
13:23 Med Marine orders MAN 175D for Svitzer ice-breaking tugs
13:00 Havyard Ship Technology AS announces new general manager
12:38 Bunker prices are stable at the Far East ports of Russia (graph)
12:02 ABP’s Port of Ipswich welcomes floating storytelling museum
11:44 Registration for the 16th International Transport Forum YugTrans 2020 is open
11:37 Port of Southampton investing in quayside to continue welcoming largest ships
10:59 Navigation season of 2019 closed in Baikal-Angara Basin of Russia’s IWW
10:31 EEC postponed consideration of amendments into Technical Regulation of the Customs Union in the part of sulphur content in bunker
10:05 Ports of Los Angeles and Copenhagen Malmö sign collaborative agreement on sustainability, environment
10:03 Multipurpose Reloading Complex spent over RUB 1 million under its social programme in 9M’19
09:40 Brent Crude futures price is down 0.14% to $62.35, Light Sweet Crude – down 0.21% to $57.02
09:25 Baltic Dry Index is down to 1,338 points
09:22 MABUX: Bunker market this morning, Nov 19
09:08 Nexans secures a 5-year contract extension with Chantiers de l’Atlantique to supply cables and services
08:12 Shell Marine secures contract for Cosco Shipping Specialized Carriers

2019 November 18

18:30 CMA CGM announces FAK rates from North Europe to ISC
18:07 2020 Bulkers extends time charters for Bulk Santiago and Bulk Seoul
17:54 Rosmorport supports 3rd Hydraulic Engineering Structures and Dredging Congress as its General Sponsor
17:35 Columbia Threadneedle Investments and Brittany Ferries reach agreement to acquire Condor Ferries from Macquarie Infrastructure and Real Assets
17:21 Moscow, Saint-Petersburg and Murmansk to host PORA discussion “Development of Water Transport Infrastructure in the Arctic” on Nov'26
17:05 ​Shearwater GeoServices awarded largest-ever 4D campaign in the Asia Pacific region by Woodside
16:35 HYUNDAI Merchant Marine joins “Getting to Zero Coalition”
16:20 Gazprom Neft reports 4.1-pct growth of bunker fuel production to 2.04 million tonnes in 9M’19