• 2019 July 16 10:14

    MABUX: Bunker market this morning, July 16

    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) did not have firm trend and changed irregular on July 15:

    380 HSFO – USD/MT – 448.05 (-4.55)
    180 HSFO – USD/MT – 482.20 (-5.16)
    MGO – USD/MT – 673.69 (+1.81)


    Meantime, world oil indexes decreased slightly on July 15 on signs that the impact of a tropical storm on U.S. Gulf Coast production and refining would be short-lived, while Chinese economic data dimmed the crude demand outlook.

    Brent for September settlement decreased by $0.24 to $66.48 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for August delivery shed $0.63 to $59.58 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $6.90 to WTI. Gasoil for August lost $4.50.

    Today morning oil indexes sliding down.

    The positive Chinese data may indicate early success in the government’s stimulus efforts and potentially more oil demand in the world’s second biggest economy. China’s crude oil throughput rose to a record of 13.07 million barrels per day in June, up 7.7% from a year earlier, following the start-up of two new, large refineries. Still, economic growth of just 6.2% in the second quarter of 2019 — the worst in 27 years — highlighted the impact of trade tensions with Washington and raised the possibility that more incentives might be needed to jump start the economy. Despite a truce agreed between the Chinese and U.S. presidents last month, the trade war remains unresolved.

    It is still difficult to predict the impact of Tropical Storm Barry on oil and fuel prices. A key factor in last week’s rally, Barry reached hurricane status as it made landfall in Louisiana on Jul.13, only to quickly weaken back to a tropical storm. However, flash flood warnings were still in force for portions of far southeast Texas through much of Louisiana, Mississippi and Arkansas, and including parts of the mid Mississippi Valley. Some crude was still awaiting refinement due to the idling of some local refineries. The storm had the potential to cut Gulf of Mexico crude production by 140,000 to 230,000 barrels a day in July and the reduced refining activity could raise U.S. crude stockpile balances on the Gulf Coast in the short-term.

    The International Energy Agency in its latest Report said global oil supply exceeded demand by about 0.9 million barrels per day (bpd) in the first six months of this year. This surplus adds to the huge stock builds seen in the second half of 2018 when oil production surged just as demand growth started to falter. As per IEA, market tightness is not an issue for the time being and any re-balancing seems to have moved further into the future.

    In fact, all three of the major forecasters – OPEC, IEA and EIA – see robust supply growth from U.S. shale. The specific figures vary, but they generally see non-OPEC production (with U.S. shale accounting for most of the total) growing by around 2 million bpd this year, and by even more next year, which means that non-OPEC supply growth for both 2019 and 2020 will exceed demand.

    Russia intends to grow its LNG potential amid the escalating pressure coming from Washington reflected in sanctions. The country, holding the world’s largest natural gas reserves, currently possess two LNG plants, including the Gazprom-led Sakhalin LNG plant situated on Sakhalin Island, which has an annual capacity of 9.6 million tons of LNG; and the three-train Yamal LNG plant, which has proven reserves of 683 bcm of gas. It opens the opportunity to set up LNG bunker infrastructure as well. Besides, nearly 50 billion Russian rubles ($800 million) have already been allocated to construct liquefied natural gas (LNG) carriers for the Arctic LNG 2 project, expected to start in 2023.

    We expect bunker prices may demonstrate slight downward trend today in a range of minus USD 3-8.




2019 August 17

14:24 Kinder Morgan announces additional projects to enhance capabilities at Houston Ship Channel Facilities
13:31 Damen Shipyards Cape Town joins Women’s International Shipping & Trading Association
12:28 CMA CGM announces rate restoration for Asia to West Africa trade
11:32 APL informs on voil sailing on Asia-Indian Subcontinent Service in August
10:58 Pre-commissioned USCG's Cutter Midgett makes second cocaine seizure within five days

2019 August 16

18:16 Port of Vyborg volumes in Jan-Jul plummet 29% to 687,700 tons
18:06 Hapag-Lloyd announces rates from East Asia to North Europe and Mediterranean
17:36 Norwegian Encore leaves MEYER WERFT's building dock
17:06 Balltec secures North Sea decommissioning contract from Heerema Marine Contractors Nederland
16:35 Canada Infrastructure Bank signs MoU with the Port of Montreal on Contrecoeur port expansion project
16:05 Vår Energi AS awarded an EPCI contract to Rosenberg Worley AS
16:03 Low-sulphur marine fuel sales by Gazprom Neft in the first half of the year increased by 11% to 121,400 tonnes
15:48 Samsung Heavy to advance smart ship technology in cooperation with equipment producers
15:36 Throughout of oil port Primorsk in Jan-Jul 2019 increased 14% to 35.74 million tonnes
15:14 New mid-year record for container volumes through the Port of Vancouver
15:11 USCG repatriates 25 migrants to the Dominican Republic
14:27 Port of Vysotsk throughput in January-July rose 7% to 11.14 million tonnes
14:10 Austal signs A$126 mln contract to export two Cape Class Patrol Boats
13:14 Seven-month cargo volumes of Port of Ust-Luga increase 10% to 62 million tonnes (update)
13:05 NORDEN signs multiple long-term global contracts
12:05 APM Terminals Poti to implement uninterrupted 24/7 operations
11:39 Port of St. Petersburg seven-month volumes rise 2% to 35 million tonnes (update)
11:05 Steel cutting ceremony for the next AIDA LNG cruise ship at MEYER WERFT
10:48 Tekmar Energy selected for Formosa 1 Phase 2
10:44 Port of Hamburg seaborne cargo throughput up 4.1 percent to 69.4 million tons in H1 2019
09:55 Crude futures prices tend upward again: Brent Crude rises to $ 58,88, WTI – to $ 55,16
09:34 Baltic Dry Index leaps 97pts to 2047 points
09:27 Bunker prices show mixed movements at Port of St. Petersburg
08:41 MABUX: Bunker market this morning, Aug 16

2019 August 15

18:48 Seven-month box throughput of Ukraine’s seaports leaps 20% to 545.800 TEUs
18:05 Huntington Ingalls Industries announces leadership changes at shipyards
17:05 Scandlines installs Norsepower’s Rotor Sail solution on board hybrid ferry
16:43 Kinder Morgan announces additional projects to enhance capabilities at Houston Ship Channel facilities
16:35 Kalmar service expertise to enhance safety, performance and productivity at OPCSA’s Las Palmas terminal
16:33 Global Dredging Forum in London to address all current aspects of capital and maintenance dredging as expansion opportunity
16:05 Wilhelmsen Ship Management awarded two supramaxes from Stove Shipping AS
15:47 Neste introduces a new IMO2020-compliant low-sulphur marine fuel
15:43 Stena Bulk's CEO appeals directly to the Leaders of India, Russia, Latvia & the Philippines
14:33 Rotterdam Polymer Hub construction starts
14:20 A.P. Moller - Maersk reports strong improvements in earnings in Q2
14:01 Tuapse Sea Commercial Port JSC 1H net profit drops 3.3 times to RUB 1bn
13:52 Port of Oslo speaker to join Int'l Baltic Transport Forum, Sept. 11
13:05 RS supports PortNews сonference on icebreaking and service fleet, to be held prior to NEVA-2019 trade fair
13:02 CMA CGM announces FAK rates from Asia to North Africa
12:06 LUGAPORT terminal construction kicks off at Port of Ust-Luga
12:03 MOL transports fire engines to Paraguay
11:03 Jan De Nul bags 600MW Kriegers Flak contract
10:17 CMA CGM announces FAK rates from Asia to the Mediterranean
10:01 Crude futures prices continue to decline: Brent Crude – to $ 59,09, WTI – to $ 54,92
09:57 Latest frigate Admiral Kasatonov enters shipbuilder’s trials final phase
09:12 Baltic Dry Index leaps by 4.61% to hit 1950-pts mark
08:42 MABUX: Bunker market this morning, Aug 15

2019 August 14

23:00 Sergey Mazokhin takes helm at Nordic Engineering JSC
18:09 Icebreaker Novorossiysk escorts Silver Explorer along the Northern Sea Route
18:05 OOCL revises Trans-Pacific service
17:23 Moscord to add Schneider Electric Marine Product Line
16:35 Wärtsilä turns to startups to help solve some of the biggest problems in the maritime industry
16:05 Round table on import substitution in Russian shipbuilding sector slated to be held on August 29 in St. Petersburg
16:04 HHLA H1 2019 performance report: growth with sustainable success
15:33 Wilhelmsen Ship Management awarded two supramaxes from Stove Shipping AS