• 2019 June 27 09:35

    MABUX: Bunker Market this morning, June 27

    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) demonstrated upward changes on June. 26

    380 HSFO - USD/MT 409.40 (+3.70)
    180 HSFO - USD/MT 448.56 (+2.99)
    MGO - USD/MT 652.81 (+3.08)


    Meantime, world oil indexes also demonstrated sharp upward changes on June. 26

    Brent for August settlement increased by $1.44 to $66.49 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for August delivery rose by $1.55 to $59.38 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of 7.11 to WTI. Gasoil for July delivery increased by $10.25.

    Oil prices jumped after the U.S. government reported a crude stockpile draw four times above expectations, the biggest weekly inventory drop since September 2016. The EIA said crude oil inventories plummeted by 12.79 million barrels the last week, against forecasts for a stockpile draw of 2.54 million barrels. In the previous week to June 14, crude inventories declined by 3.11 million barrels, after a net build of nearly 20 million barrels over five weeks.

    An additional factor affecting fuel prices is Philadelphia Energy Solutions’ decision to permanently shut its oil refinery in Philadelphia after a massive fire last weekend.

    The G20 gathering will be in the spotlight for oil markets as Russian President Vladimir Putin meets Saudi Crown Prince Mohammed Bin Salman. They will likely discuss whether and how to extend the current production cut agreement between OPEC and other producers, of which Russia is by far the largest.
    Moscow had convinced OPEC to delay the meetings initially scheduled for June 25-26 to July 1-2 in order to have time for discussion at the G20.
    While waiting for a confirmation of an extension of output cuts, U.S. crude has gained more than 10% since mid-June as escalating tensions between the U.S. and Iran countered the ongoing Sino-U.S. trade conflict as the principal short-term price driver.

    Today indexes fall as market await the G20 summit in Japan and a meeting of OPEC and other oil producers to decide on an extension of output cuts.

    The market has concerns that a hoped-for breakthrough on trade at the G20 may not eventuate and some nervousness about continued output cuts were crimping follow-through buying. U.S. President Donald Trump will meet with Chinese President Xi Jinping at the Group of 20 summit that starts on June 28 in Osaka, Japan to seek a breakthrough in negotiations to end a trade war that has been hitting global economic growth. At the same time, Trump said on June,26 that a deal was possible but also spoke of a Plan B that would involve reducing business ties with China.

    Almost immediately after the G20 summit ends on Saturday, the Organization of the Petroleum Exporting Countries (OPEC) meets on July,1 to discuss an extension of production cuts to support prices. The day after that OPEC members meet with other producers including Russia in a grouping known as OPEC+, which agreed in December to reduce supply by 1.2 million barrels per day from Jan. 1. The agreement is due to expire on June 30.

    We expect that bunker prices will demonstrate upward changes today: 5-8 USD up for IFO, 8-10 USD up for MGO.




2019 September 19

18:04 Bibby Marine Services takes the next step to optimize walk-to-work operations
17:56 Marinet approves Poseidon maritime cyber security project
17:37 American Ethane reveals plans to order 17 VLECs
17:34 Wärtsilä’s Board of Directors decided on the distribution of the second dividend instalment
17:22 Marinet approves T2OT project for high accuracy positioning of seagoing vessels
17:04 VARD secures advanced stern trawler contract with Luntos
16:50 Average wholesale prices for М-100 HFO down to RUB 14,328 in RF spot market
16:34 Zeebrugge port authority invests in new 1,071 meter quay wall
16:04 RINA to classify Swedish Maritime Administration fleet
15:53 Marinet set to establish exports support center in Finland in 2020
15:34 MacGregor secures orders worth more than EUR 20 million for projects in Europe and Asia
15:05 Wärtsilä foresees a lower result for 2019
14:31 North Pole ice-resistant platform presented by Admiralteiskie Verfi at NEVA 2019
14:09 ABS announces LNG Cargo Ready notation for ethane carriers at Gastech 2019
13:46 Hyundai Heavy Industries receives AIP for new LPG carrier design
13:03 Bunker prices go up at the Far East ports of Russia (graph)
12:40 ABS and AEC сollaborate on newbuild VLEC fleet
12:17 Murmansk Sea Fishing Port handled 171,200 tonnes of cargo in 8M’2019, down 28.5% Y-o-Y
11:58 PortNews-TV offers video on naming ceremony for PortNews tanker
11:36 International symposium on Anthropogenic Underwater Noise held in Hamburg on 10 September
11:09 LR awards DSME AiP for 98,000 m3 VLEC design with High MnA steel tank
10:42 Ships of RF Navy’s Caspian flotilla take part in Tsentr 2019 maneuvers
10:09 Singapore and Panama ink MoU to strengthen maritime relations
09:51 Brent Crude futures price is up 0.20% to $63.73, Light Sweet Crude – up 0.33% to $58.23
09:49 MABUX: Bunker market this morning, Sept 19
09:33 Baltic Dry Index is down to 2,266 points
09:18 ABS grants AIP for two next generation gas carrier designs

2019 September 18

18:26 SGRE confirmed member of the Dow Jones Sustainability Indices in 2019
18:03 MOL repays existing loans through issuance of project bond for FPSO charter project
17:48 Russia’s Rosmorrechflot and Ministry of Industry and Trade develop preferential leasing programme
17:30 Vympel DB develops concept design for Arctic cruise ship
17:22 Metal Shark delivers new foil-assisted catamaran excursion vessel to Pure Florida
17:11 US Coast Guard shifts response efforts in Bahamas
17:03 ECSA considers the European State Aid Guidelines for maritime transport highly successful and key to maintaining a strong European shipping sector
16:39 Vigor hosts keel-laying ceremony for the U.S. landing craft MSV(L)
16:21 Vitol announces long-term LNG time charter contract with H-Line
16:03 Despite some positive indicators, concerns remain for offshore energy underwriters, reports IUMI
15:42 Wärtsilä Denmark joins Digitalisation in Shipping: Europe 2019 as Associate Partner
15:24 USCG ends search for migrants of capsized vessel off Martinica Beach
15:03 GTT receives an order from HHI & SHI for the tank design of six Very Large Ethane Carriers
14:50 FSUE Atomflot develops project on construction of 7MW icebreaking tugboat
14:33 Hapag-Lloyd to increase rates from North East Asia to Australia
14:16 Wärtsilä simulators provide advanced training at newly inaugurated Portuguese facility
14:14 Ørsted contracts Van Oord for cable installation at Greater Changhua offshore wind farms
14:12 GTT obtains Approval in Principle for Arc7 ice class ships from Russian Maritime Register of Shipping
14:03 ABS and Samsung Heavy Industries sign digital technology
14:00 SAAM Towage contracts Damen for delivery of tug vessel
13:31 Discussion “Development of recreational crafts and high-speed passenger vessels” begins at Neva 2019
13:10 Wärtsilä launches the Wärtsilä 31SG pure gas engine for marine market applications
13:04 International Association of Ports and Harbors visited by ICHCA representatives
12:38 RS issues Approval in Principle for new GTT’s LNG containment systems
12:03 LR awards Jiangnan AiP for 91,000 m3 VLGC Panda 91T design.
11:49 ADNOC acquires 10% of VTTI
11:30 LNG-fueled tugboat Ishin undergoes 1st LNG bunkering trial in Port of Kobe
11:02 ABS and Samsung Heavy Industries to develop next generation LNG carrier
10:37 Training underway for Jeddah Maritime Information Sharing Centre
10:21 Panama Canal signs agreement with Port of Rotterdam
10:12 TGS announces strategic milestones to accelerate growth
09:44 Brent Crude futures price is down 0.09% to $64.49, Light Sweet Crude – down 0.44% to $59.08
09:15 Baltic Dry Index is down to 2,283 points