• 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.




2020 February 25

17:51 Four new IBIA board members announced at AGM
17:30 ClassNK develops its Digital Grand Design 2030
17:18 Piraeus Bank enters into a strategic collaboration with ORIX Corporation to provide financing solutions to the Greek maritime sector
17:02 DNV GL awards MSC new container ship fire safety notation
16:36 Foreship scrubber enquiries surge as owners clear the air
15:59 Trust Management sells crude oil tanker FSL Shanghai
15:49 RF Navy’s Baltic Fleet starts preparing for "Sea Cup" competition
14:58 Gazprom Neft’s net profit exceeds RUB400 billion in 2019
14:33 World Bank presents results of its study on prospects for strengthening Ukraine’s port sector governance
14:05 Marakeb Technologies and Fincantieri sign MOU for unmanned technology collaboration
13:27 THE Alliance announces details of 2020 Middle East service network
12:42 Container Terminal Saint-Petersburg upgrades its fleet of production equipment
12:17 COSCO SHIPPING Lines maintains logistics chain for international trade
12:01 KSS Line adds one new VLGC model after four vessels in 2019
11:25 DP World acquires the largest multi-purpose deep-sea marine terminal on the West Coast of North America
11:16 PPA scores big in latest survey, continues to veer away from 'corruption' tag
10:43 World Maritime University signs MoU with Maritime Academy of Asia and the Pacific
10:15 Logistics specialist leases Newport Docks warehouse
10:14 CMA CGM announces PSS from Europe, Scandinavia, Black Sea & West Med to Reunion, Mauritius, Mayotte, Comoros, Seychelles & Madagascar
10:09 MABUX: Bunker market this morning, Feb 25
09:51 Throughput of port Shanghai (China) in Jan’20 fell by 13.2% to 41.75 million tonnes
09:30 Brent Crude futures price is up 0.3% to $55.94, Light Sweet Crude – up 0.39% to $51.63
09:12 Baltic Dry Index is up to 506 points

2020 February 24

16:43 MOL and DSME sign joint development agreement for environmental friendly FSRU technology
15:06 Wilhelmsen Group's fourth-generation owner Wilhelm Wilhelmsen dies
14:53 MABUX Digest: Top events on global bunker market. Week 08
12:54 Milaha participates in ‘Made in Qatar 2020’ Exhibition as a Gold Sponsor
10:45 MABUX: Bunker market this morning, Feb 24
10:11 DOF Subsea posts Q4 operating income of NOK 1,349 million

2020 February 23

15:01 Great Lakes reports record full year results
14:32 AAM completes 80’ patrol vessel for the Texas Parks and Wildlife Dep't
13:37 EDS HV Group completes scope of work at Vattenfall’s HR3 wind farm
12:23 Ingeteam signs the contract with Yantai CIMC Raffles Offshore for hybrid electric propulsion system delivery of two Ro-Ro vessels
11:21 USCG, other agencies to conduct search and rescue exercise near Perdido Bay

2020 February 22

17:14 First Subsea provide Cable Protection Systems for NnG
14:48 Med Marine: Turkish-built tug equipped with SCHOTTEL bestseller
13:41 CSBA study finds U.S. dredging industry a critical component of national security
11:39 USCG Cutter Legare returns home after interdicting over 3,300 pounds of drugs
10:47 Ray Fitzgerald to rejoin Crowley as COO

2020 February 21

18:12 Digitization of KN: paper is no longer used in the operation of Klaipėda LNG terminal
17:48 NIBULON Shipyard is about to launch second non-self-propelled open type vessel
17:17 CMA CGM announces Emergency Space Surcharge from North Europe, Scandinavia & Poland to West Med, East Med, Adriatic & North Africa
16:59 New roll trailers put into operation at Bronka port
16:04 AS Tallink Grupp’s wholly-owned subsidiary AS Hansatee Cargo merged with Group’s wholly-owned subsidiary AS Tallink
15:25 Russia's Main Department of State Expertise approved adjusted design documentation under Nord Stream 2 project
15:02 OCEAN Industries orders MAN Propulsion Packages for Royal Canadian Navy tugs
14:13 Diana Shipping announces time charter contract for m/v Coronis with Koch and cancellation of the sale of a Capesize dry bulk vessel
13:01 COSCO SHIPPING Lines provides water and rail transport services
12:40 Wärtsilä LPG Fuel Supply System the first ever to undergo engine testing
12:12 ABS to class world’s largest B-Tank VLECs by Jiangnan
11:30 Coronavirus disease 2019 – IMO urges no unnecessary delays to ships
11:09 World’s first LPG-retrofit order exercises option for four additional engines
10:44 MABUX: Bunker market this morning, Feb 21
10:43 Biofouling demands collective, urgent and ‘proactive’ approach, stresses Bellona
10:09 Cod farming set for rebound as savvy investors rush to back Norcod
09:55 Bunker prices are slightly down at the port of Saint-Petersburg, Russia
09:43 GTT acquires Icelandic company Marorka, an expert in Smart Shipping
09:35 BlueWater Reporting closely monitoring blanked sailings amid coronavirus outbreak
09:34 Brent Crude futures price is down 0.73% to $58.88, Light Sweet Crude – down 0.61% to $53.55
09:16 Baltic Dry Index is up to 480 points