• 2019 June 20 09:27

    MABUX: Bunker market this morning, June 20

    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) slightly rose on June 19:

    380 HSFO – USD/MT – 387.56 (+5.74)
    180 HSFO – USD/MT – 427.58 (+4.84)
    MGO – USD/MT – 638.50 (+2.75)


    Meantime, world oil indexes slightly declined on Jun. 19 after official government data showed a larger-than-expected fall in U.S. crude inventories.

    Brent for August settlement declined by $0.32 to $61.82 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for August delivery fell by $0.14 to $53.97 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of 8.06 to WTI. Gasoil for July lost $2.25.

    Today morning oil indexes turned into moderate upward evolution.

    The Energy Information Administration said in its regular weekly report that crude oil inventories decreased by 3.11 million barrels in the week to June 14. That was compared to forecasts for a stockpile draw of 1.08 million barrels after a build of 2.21 million barrels in the previous week.

    U.S. Secretary of State Mike Pompeo said U.S. doesn’t want war with Iran but keeps option on the table. While the U.S. says Iran was behind the tanker attacks, some countries doubt if there is enough evidence. Meanwhile, Iran said its uranium enrichment would breach the limits of the 2015 nuclear deal within 10 days if Europe did not help it circumvent U.S. sanctions. President Trump seemed to downplay the conflict, calling the tanker attacks very minor, indicating a disagreement within his administration.

    The International Energy Agency (IEA) cut its oil demand growth forecast last week—by 100,000 bpd from last month to a current estimate of 1.2 million bpd growth for 2019—a second consecutive downward revision in its monthly reports.  The IEA also warned that world trade growth has slumped to its slowest rate since the 2008/09 financial crisis and the consequences for oil demand are becoming apparent. The IEA, however, noted that there is optimism that the latter part of this year and next year will see an improved economic picture.

    Saudi Arabia is cutting its oil output and is asking other producers for restraint in production, as signs of slowing global demand for crude outweigh threats of war and worries about supply disruptions in the Middle East. That could take 300,000 to 400,000 bpd off of the market.

    A group of leading banks will for the first time include efforts to cut carbon dioxide emissions in their decision making when providing shipping company loans. International shipping accounts for 2.2% of global carbon dioxide (CO2) emissions and the U.N.’s International Maritime Organization (IMO), has a long-term goal to cut greenhouse gas emissions by 50% from 2008 levels by 2050. So 11 banks have established a framework to measure the carbon intensity of shipping finance portfolios. The banks involved in the “Poseidon Principles” initiative, which will set a common baseline to assess whether lending portfolios are in line or behind the adopted climate goals set by the IMO, represent around a fifth or $100 billion (£79.7 billion) of the total global shipping finance portfolio.

    Because of the tanker attacks in the Gulf of Oman, insurance costs have spiked. War risk premiums that owners pay each time they go to the Persian Gulf have now surged to at least $185,000 for supertankers. They rose to $50,000 after the attacks a month ago. Both owners and the companies that charter their ships paused bookings in the immediate aftermath of attacks on Jun.13 as they re-evaluated risks to oil from the Middle East in the wake of attacks on two more tankers just a month after similar incidents.

    Argentina suffered through a nationwide blackout, which even stretched into parts of Uruguay and Paraguay. The blackout started with a failure in the country´s interconnection system, known as SADI, but the root cause of the outage remained unknown and the results of a full investigation would not be available for 10 to 15 days. The blackout comes amid a deepening economic crisis in Argentina that has plunged nearly a third of the country into poverty, pushed interest rates skyward and sent the peso tumbling against the dollar, prompting mass protests throughout the country.

    We do not expect any drastic changes in bunker prices today: fluctuations in a range of plus-minus 1-3 USD may prevail.




2019 September 16

18:04 Ports draw $5B investment, 12K jobs to Georgia
17:59 GOGL increases investment in Singapore Marine
17:50 Pella launched first serial trawler of Project 03095, Castor
17:25 Tenders on pilot projects for stevedoring company concessions in Olvia and Kherson ports officially announced
17:04 Vestdavit equips Norwegian Coast Guard’s next generation for Polar boat launch and recovery
16:29 USCG halts 2 illegal charters near Miami, Fort Lauderdale
16:04 Royal Caribbean to welcome first Quantum Ultra Class ship to North America
15:27 Boluda Towage Spain manoeuvres world’s largest container ship in port of Algeciras
15:04 Cargill and Maersk Tankers join forces in the Medium Range segment
14:10 Zvezda shipyard hosts keel-laying ceremony for third Aframax tanker for Rosnefteflot
13:39 Jotun transforms turnaround times for storage tanks with a new TankFast solution
13:16 North Sea Port starts testing more reliable lockage planning for scheduled services in the Terneuzen lock
12:42 Meyer Turku is moving the delivery of Costa Smeralda to November
12:18 AEC welcomes Guggenheim Partners Investment Management as Arctic Partner
11:55 Professional emergency response team of Kontur SPb LLC recommended to be certified for emergency response to oil spills
11:21 Workshop on ISPS Code for Designated Authority and Port Facility Security Officers held in Ghana
10:53 IMO continues work to promote ratification of international treaty covering wreck removal
10:29 GESAMP celebrates fifty years of service in ocean science
10:04 Busan Port Authority and Adani Ports & SEZ conclude MOU
09:50 Brent Crude futures price is up 9.96% to $66.22, Light Sweet Crude – up 8.61% to $59.52
09:32 Gazprom supports 3rd Conference “LNG Fleet and LNG Bunkering in Russia” as its General Sponsor
09:17 Baltic Dry Index is down to 2,312 points
09:08 Nyborg becomes 30th port to join the Cruise Baltic network
08:44 ECSA, INTERFERRY, EUDA and CLIA Europe welcome report on the evaluation of the Energy Taxation Directive
08:35 MABUX: Bunker Market this morning, Sept 16
08:00 Live webcast of NEVA 2019 zero-day conference begins at 10 am, September 16, on PortNews website

2019 September 15

15:47 M/V "SARA” refused access to the Paris MoU region
14:26 USCG assisted capsized USFSP sail students in St. Petersburg, Florida
12:02 World’s largest wind turbine blade test stand built by Siemens Gamesa
11:21 IMCA to introduce CPD scheme for diving supervisors
10:51 L3Harris Technologies delivers new advanced autonomous vehicle capability to UK’s Defence Science and Technology Laboratory

2019 September 14

15:29 Coast Guard reopens Houston Ship Channel after protest demonstration
13:39 Crondall Energy partners with Pharis Energy on innovative Pilot Field development
12:08 Prysmian's new cable-laying vessel Leonardo da Vinci scheduled for delivery in 2Q 2021
10:32 Woodside invests in emerging technology for seismic data acquisition

2019 September 13

18:06 Sture terminal situation normalised
17:47 Malaysia encourages gender diversity in the maritime industry
17:24 Multipurpose ship of Project MPSV12, Kalas, successfully completed sea trials
17:06 Frontline extends expiry date of first option for two Trafigura Suezmax tankers
16:30 ABP to welcome Royal Navy’s HMS Grimsby into Port of Grimsby
16:25 Wärtsilä Aquarius UV Ballast Water Management System chosen for retrofitting to four Korean vessels
16:05 Multi Modal Rail B.V. (MMR) launches rail service between Rotterdam and Ottmarsheim, France
15:48 ABP and WISTA UK host 'Women in Maritime' reception during LISW
15:09 Shearwater GeoServices awarded large South America survey
14:26 ABB enables emissions-free port stay in Marseille for Corsica Linea ferries
14:09 Start of the project “Dredging the Nieuwe Diep – Port of Den Helder”
13:45 First ever ABB electric propulsion to be installed on board a bulk carrier
13:20 Port of Oakland opens peak season with cargo volume growth
12:47 Throughput of port Kavkaz in 8M’2019 fell by 30% Y-o-Y to 22.35 million tonnes
12:09 MOL starts demonstration test of vessel image recognition system using AI technology on Nippon Maru
11:28 RS introduces new requirements into Part I of Rules for Classification and Construction of Sea-Going Ships
11:09 Rolls-Royce achieves 50th MT30 production milestone
10:42 In August, Klaipėda LNG Terminal regasified 1.4 times more gas than was consumed in the entire country
10:09 Port of Long Beach cargo volumes hit 663,992 TEUs in August 2019
10:04 Port Napier, NZ, places order for Damen ATD Tug 2412
09:51 Bunker market sees mixed price movements at the port of Saint-Petersburg, Russia (graph)
09:34 Brent Crude futures price is down 0.28% to $60.21, Light Sweet Crude – down 0.24% to $54.96
09:16 Baltic Dry Index is down to 2,331 points
09:10 Antwerp and Rotterdam Port Authorities ask new European Commission and Parliament to focus on the economic significance of ports
09:03 MABUX: Bunker market this morning, Sept 13