• 2019 July 9 10:19

    MABUX: Bunker Market this morning, July 09

    The Bunker Review was contributed by Marine Bunker Review

    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 July, 08:

    380 HSFO - USD/MT 424.44 (+4.21)
    180 HSFO - USD/MT 461.93 (+4.26)
    MGO - USD/MT 652.71 (+2.86)


    Meantime, world oil indexes demonstrated slight irregular changes on July, 08 as tensions over Iran's nuclear program countered concerns about whether slowing global economic growth would hit oil demand.

    Brent for September settlement declined by $0.12 to $64.11 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for August delivery rose by $0.15 to $57.66 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of 6.45 to WTI. Gasoil for July delivery increased by $2.50.

    Today indexes fall amid concerns of weakening global demand.

     Oil prices are being pressured by ongoing worries about demand as the U.S.-China trade war, heading into its second year, dampens prospects for global economic growth, which strongly impacts oil demand growth. The countries are the world's two largest oil consumers. Japan's core machinery orders fell by the most in eight months, in a sign the global trade tensions are taking a toll on corporate investment. Japanese government figures today also showed that real wages in the country fell for a fifth straight month. The country is the fourth-largest crude user in the world.

    Meanwhile, U.S. Federal Reserve Chair Jerome Powell will testify before Congress on monetary policy and the state of the U.S. economy on July,10-11. Markets will be looking to find out if Powell is still leaning toward a rate cut after the latest U.S. jobs report for June suggested the economy may be too strong to justify an easing.

    Tension in the Middle East remained in focus after Iran admitted over the weekend that it had increased uranium enrichment beyond the purity threshold agreed in a nuclear deal. Speaking on July,7 U.S. President Donald Trump warned that Tehran to be careful on the decision which he claims to be a step towards the development of nuclear weapons.

    In addition, The Government of Gibraltar has confirmed that the Iranian supertanker allegedly on its way to Syria was fully laden with 2 million barrels of crude oil. The Panamanian-flagged Grace 1, which was seized on July,4 by the British Royal Marines, was assumed to be carrying crude oil, but some raised doubts. Iran denies that the tanker was on its way to Syria, in defiance of EU sanctions against Syria, and has likened the rather dramatic seizure—reportedly done at the behest of the United States—to “an act of piracy”. Iran alleged on Monday that it is under no obligation to adhere to EU sanctions. Despite some setbacks, Iran remains hopeful that its oil exports will improve, although its oil exports have fallen to below 300,000 bpd–lower than Iran may have anticipated since the sanctions went into effect.

    Meanwhile, Goldman Sachs said growth in U.S. shale production was likely to outpace that of global demand at least through 2020, limiting gains in oil prices despite output curbs led by OPEC.

    OPEC has asked on Monday for a timely settlement to the tensions that have flared up between the United States and Iran and Venezuela. Iran and Venezuela, both founding members of OPEC, are both exempt once again from the production cut extensions that the cartel announced last week, and will remain exempt for as long as they remain under sanction.
    But while the two countries combined seemingly did OPEC a favor by taking more than 2.6 million barrels of crude oil per day out of the market within that time frame, the tensions in the Persian Gulf and the dire situation in Venezuela are creating a market that OPEC is finding it difficult to both predict and manage.

    We expect bunker prices to demonstrate slight irregular changes today: US$ 1-3 down for IFO, US$ 1-3 up for MGO.




2019 December 5

18:05 ABS, MAN & SDARI join forces to develop ammonia-fueled feeder vessel
17:46 Throughput of Rostov-on-Don port in 11M’19 fell by 7% Y-o-Y to 21.1 million tonnes
17:21 Extraordinary general shareholders meeting of LUKOIL approves interim dividend
17:05 NORDEN enters new biofuel collaboration with Kvasir Technologies
16:28 Cargo traffic on Northern Sea Route can grow to 160 million tonnes by 2035 – Aleksandr Krutikov
16:05 ABS and CATL sign battery research agreement
15:54 Port of HaminaKotka published its statistics for November 2019
15:30 Ministry for Development of Russian Far East and Arctic expects special economic regime to come into force in Arctic in 2020
15:03 DNV GL and Huangpu-Wenchong sign JDP on 5,000 TEU LNG dual-fuel containership
14:49 Global project launched to tackle plastic litter from ships and fisheries
14:33 IMO Assembly approved renewal of Kitack Lim’s appointment as secretary-general of UN body
14:06 Torqeedo powers all-electric harbour water clean-up boat
13:06 YILPORT Puerto Bolívar now operates with four mobile harbor cranes
12:44 Bunker prices increase at the Far East ports of Russia (graph)
12:25 Norfolk, Virginia to host Port & Terminal Technology USA on 21-22 April 2020
12:17 MABUX: Bunker market this morning, Dec 05
12:08 Inmarsat launches Fleet LTE service in the North Sea
11:50 Forum «Arctic: Today and the Future» kicked off in Saint-Petersburg
11:29 “K” Line completes additional development (Phase-2) of “Kawasaki Integrated Maritime Solutions”
11:05 PIL upgrades Redsea Gulf Service and Intra-Redsea Feeder 5
10:37 DNV GL and GSI cooperate on AI-based solution to improve welding NDT efficiency
10:01 Bunker sales at port Vladivostok in 11M’19 grew by 53.2% to 1.58 million tonnes
09:36 Brent Crude futures price is down 0.1% to $62.94, Light Sweet Crude – down 0.38% to $58.2
09:18 Baltic Dry Index is down to 1,599 points
09:03 CMA CGM and Total sign a major agreement
06:49 Ocean Yield ASA announces delivery of three LR2 product tankers with long-term charters

2019 December 4

18:30 North Carolina Ports Chief Commercial Officer retires
18:09 Diana Shipping announces time charter contracts for m/v Myrsini with Ausca and m/v Artemis with Koch
17:47 DNV GL and GSI cooperate on AI-based solution to improve welding NDT efficiency
17:26 Freight turnover of Neva-Metal (Saint-Petersburg) in 11M’19 fell by 1% Y-o-Y to 2.93 million tonnes
17:09 ABS presents its innovative work at the annual meeting of the ABS South East Asia Regional Committee
16:48 Traficom: new study published on indicative analysis methods used in the control of ships’ ballast water treatment
16:32 Port of Gdynia increased container handling by 13% to 750.439 thousand tons in 10M’2019
16:09 Nexans, Eversource and Ørsted sign Framework Agreement for North American Offshore Wind Farm development with the opportunity to provide up to 1,000 kilometers of export cable for multiple Ørsted projects till 2027 in United States
15:52 Jotun A/S and COSCO Shipping International HK renew JV agreement
15:31 Cargo traffic within Azov-Don Basin of Russia’s IWWs down 9% to 9.57 million tonnes in 11M’19
15:10 The opening of Port Said tunnel under the Suez Canal provides faster access to SCCT
14:47 Port of Gdynia completed modernization and redevelopment of its video surveillance system
14:30 Port of Ipswich celebrates new partnership milestone with Metsä Wood UK
14:09 Maersk launches new visibility tool “Captain Peter”
13:51 ABP appointed new Head of Operations for Humber International Terminal
13:28 Moscow Canal completed project on digital mapping of Russia’s inland water ways
13:09 Georgia Ports Authority set to exceed 4.6M TEUs for the first time in a calendar year
12:47 Russian Maritime Register of Shipping takes part in Marintec China 2019
12:30 Crew of IBSV Gennadiy Nevelskoy rescued three men in Sea of Okhotsk
12:08 GTT and WISON sign a Technical Assistance and License Agreement for the construction of membrane tank systems
11:53 AS Tallink Grupp reports increase of passenger and cargo turnover in November 2019
11:26 Russian Railways: Loading of export cargo bound for domestic ports up 3.4% to 281.4 million tonnes in 11M’19
11:08 LR collaborates with DSIC and Man Energy Solutions for first ammonia-fuelled ULCS in China
10:47 Bunker market at the port of Saint-Petersburg sees mixed price movements, Russia (graph)
10:30 Hapag-Lloyd to revise the Currency Adjustment Factor for North Europe as of January 1, 2020
10:08 HEP to build the first hydrogen station at the Port of Amsterdam
10:03 MABUX: Bunker market this morning, Dec 04
09:56 Baltic Dry Index is up to 1,606 points
09:38 Lloyd’s Register grants AiP to CMES, CNOOC, DSIC and GTT for LNG dual-fuelled VLCC design
09:20 Brent Crude futures price is up 0.74% to $61.27, Light Sweet Crude – up 0.68% to $56.48
09:08 Odfjell SE reaches an agreement with Navig8 Chemical Tankers to expands stainless steel chemical tanker pool
08:53 Port of Hamburg anticipates positive impact from the EU-Singapore trade agreement
08:06 P.P. Shirshov Institute of Oceanology of the Russian Academy of Sciences development is declared the best innovative product at Seoul Fair
07:06 CMA CGM chooses the port of Marseille-Fos for the bunkering of its future 15,000-TEU vessels