• 2019 June 24 09:53

    MABUX: Bunker Market this morning June, 24

    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) increased on June. 21

    380 HSFO - USD/MT 397.92 (+6.25)
    180 HSFO - USD/MT 438.17 (+6.09)
    MGO - USD/MT 649.56 (+6.62)


    Meantime, world oil indexes also demonstrated upward changes on June. 21

    Brent for August settlement increased by $0.75 to $65.20 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for August delivery rose by $0.36 to $57.43 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of 7.77 to WTI. Gasoil for July delivery increased by $7.50.

    Today indexes continue to rise as tensions remain high between Iran and the United States, with U.S. Secretary of State Mike Pompeo saying more sanctions on Tehran would be announced.

    U.S. President Donald Trump had authorized military strikes against Iran in response to the strike against a U.S. surveillance drone on June,20, but called off the attack at the last minute. Targets had included Iranian radar and missile batteries, the paper cited senior administration officials involved in, or briefed on, the deliberations. The strikes were set for early in the day to minimize risk to the Iranian military or to civilians. It was unclear if attacks on Iran might go ahead later, nor was it known whether Trump had changed his mind or whether his administration had become concerned about logistics or strategy. Given the heightened tensions, the U.S. Federal Aviation Administration issued an emergency order on June,20 prohibiting U.S. operators from flying in Iran-controlled airspace over the Strait of Hormuz and Gulf of Oman until further notice. The incident underlined the risk of disruptions to global oil supplies coming out of the Persian Gulf, where six oil tankers have been damaged by explosions in the past six weeks.

    At the same time U.S. President Donald Trump said over the weekend that the U.S. will impose “major additional sanctions” against Iran this week after Tehran’s Islamic Revolutionary Guard Corps said it shot down the U.S. RQ-4A Global Hawk surveillance drone. Iran accused of incursion and spying over Iranian airspace, while the U.S. said that the aircraft was in international airspace when it was targeted. However, the president noted that he has not ruled out using military force against Iran in the future.

    Elsewhere, Trump’s highly-anticipated meeting with Chinese leader Xi Jinping later this week will be closely watched. Oil prices could also see another sharp upside if the U.S. president and his team hold, as he has promised, positive talks with Xi at the G-20 summit.

    OPEC members have postponed their scheduled review of the existing agreement on output restraint by a week to July 1. Non-members, most importantly Russia, will join the following day. It is expected, that the output cut of 1.2 million barrels a day to be extended through the end of the year, although Saudi Arabian Energy Minister Khalid al-Falih has indicated that quotas for individual countries may need to be recalculated.

    The number of active oil and gas rigs in the United States fell again this week according to Baker Hughes, as the overall rig count reaches the lowest point since February 2018. The total number of active oil and gas drilling rigs in the United States fell by 2 according to the report, with the number of active oil rigs increasing by 1 to reach 789 and the number of gas rigs decreasing by 4 to reach 177. The combined oil and gas rig count is 967, with oil seeing a 73-rig decrease year on year and gas rigs down 11 since this time last year. Despite the rig decline year on year, US production is still almost 2 million barrel per day higher year on year. US oil production is keeping the prices in check, although falling back for the second week in a row on June 14 to 12.2 million bpd down from the all-time high of 12.4 million bpd.

    We expect bunker prices to demonstrate upward changes today: 3-5 USD up for IFO, 5-7 USD up for MGO.




2019 July 21

16:31 USCG begins investigation into three tugboats sinking
15:18 Tolent kicks off construction of Triton Knoll’s new base on Grimsby’s Royal Dock
14:48 ONE launches new direct service between South East India, Mediterranean, and North Europe
14:37 Major milestone met on Moray East Offshore Windfarm project
13:04 Odfjell SE sells its ownership share of terminal in Jiangyin, China
12:32 Quark Expeditions debuts new livery and interior design for Ultramarine
11:02 NYK selected for FTSE4Good Index for 17th straight year and FTSE Blossom Japan Index for 3rd consecutive year

2019 July 20

15:47 FortisBC secures first export contract for Tilbury LNG facility
13:42 AIDA Cruises plans practical trial of fuel cells abord one of its ships as early as 2021
12:51 Ports of Long Beach, Los Angeles host Clean Truck Program Rate Workshop
11:37 USCG responds to oil slick near Port Aransas, Texas
10:56 Wallem introduces cloud-based software for simpler workflows

2019 July 19

18:10 NYK holds fleet safety promotion conferences for shipowners and ship-management companies
18:04 Incat Tasmania exports new 111 metre ferry to Spain
17:49 World's largest air-cushioned landing craft takes part in Navy Day parade rehearsal in Baltiysk
17:25 Caspian Flotilla ship crews prepare for Naval Parade
17:03 FortisBC secures first export contract for Tilbury LNG facility
16:22 Project documentation for construction of Nizhny Novgorod hydroengineering facility completed - Victor Vovk
16:03 CMA CGM announces GRR from Asia to East and South Africa
15:50 East Mining Company to invest RUB 11.5 billion in development of its coal project in Sakhalin
15:33 Moby names Damen ASD Tug 2813 Vincenzino O. in Cagliari
15:12 Cargotec posts financial report for January–June 2019
14:47 Blagoveshchensk shipyard completed state trials of hydrographic survey vessel of Project 19910
14:33 NYK recognized for implementation of advanced navigation support tool
14:12 Global Ship Lease announces new charter agreement
13:51 150 graduates of Moscow State Water Transport Academy awarded with diplomas
13:30 RF Government includes NOVATEK’s LNG terminal project into area planning scheme
13:12 Port of Long Beach releases draft Master Plan update
13:07 Epic Gas Ltd. completes acquisition of two vessels of four LPG carriers
12:24 USCG finds federal fisheries violations aboard 5 recreational fishing vessels
12:11 IMO Council condemns tanker attacks in Strait of Hormuz and Sea of Oman
11:31 Naval Group reports order intake growth in H1 to 3.9bn euro
11:14 Ice-breaking LNG carrier for Yamal LNG Project named NIKOLAY URVANTSEV
10:58 Minister of Transport of Malaysia visits World Maritime University
10:26 Saudi Arabia accedes to two important IMO treaties
09:55 Bunker prices are slightly down at the port of Saint-Petersburg, Russia (graph)
09:50 MABUX: Bunker market this morning, July 19
09:33 Brent Crude futures price is up 1.91% to $63.11, Light Sweet Crude – up 1.48% to $56.12
09:16 Baltic Dry Index is up to 2,130 points

2019 July 18

18:05 Future expectations for MPS Terminal 3 in the port in Tema outlined with Government delegation
17:24 PGNiG acquires interest in another gas field in the North Sea
17:18 DNV GL supports 2020 sulphur compliance with online Ship Implementation Plan
17:05 OOCL announces new Middle East / Indian Subcontinent – North Europe Service
16:35 Consortium including DEME and Jan De Nul explores pioneering high-wave offshore solar technology
16:07 Large maritime market players join hands to create high-wave offshore solar panels
15:52 State Duma makes it easier for foreign tourists to visit Russia’s Arctic
15:35 Incat Tasmania delivers new 111-metre ferry to Spain operator Naviera Armas
15:18 Hapag-Lloyd launches South-East India – Europe Express Service // IEX to start operations in October 2019
15:01 Operation ATALANTA welcomes ESPS CANARIAS
14:26 Bunker prices are slightly down at the Far East ports of Russia (graph)
14:00 Diana Shipping announces time charter contract for m/v Selina with Ausca
13:44 PortNews Media Group's anniversary celebration photo release
13:22 Aleksey Khaidukov as President of Novoship
13:00 Global Ports Holding invites proposals for Duty Free and Travel Retail operations at Malaga, Zadar, Cagliari and Catania cruise ports
12:47 East Mining Company eyes arranging offshore transshipment of coal in Kamchatka under Tata project
12:09 Wärtsilä posts financial results for January-June 2019
11:53 Construction of LNG-powered icebreakers to be financed by NOVATEK – Vyacheslav Ruksha
11:31 RF Deputy PM Maksim Akimov set a task to begin dredging in the Gulf of Ob not later than on 1 August 2019
11:09 Port of Muuga strengthened with new ferry connection to Finland
10:48 Primorsky MRC terminal to offer fully closed transshipment of loose cargo