• 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 October 23

09:31 Baltic Dry Index is down to 1,806 points
09:15 Brent Crude futures price is down 0.49% to $59.41, Light Sweet Crude – down 0.83% to $54.03
09:08 CMA CGM implements Winter Surcharge on imports into St Petersburg, Ust-Luga & Bronka (Russia)
08:53 MABUX: Bunker market this morning, Oct 23
08:42 Europort 2019 launch led by shipowner summit Europort 2019 launch led by shipowner summit

2019 October 22

18:09 Alfa Laval Aalborg boiler technology offers an easier path to LNG propulsion
17:53 NOVATEK issues update on Arc7 LNG tankers
17:30 Yxney Maritime and Grieg Connect team up with the NOx Fund to build digital emissions infrastructure
17:02 Total and Zhejiang Energy Group join forces to develop the growing low sulfur marine fuel market
16:48 North-Western Shipping Company carried 3.7 million tonnes of cargo in 9M’2019
16:25 Wärtsilä retrofit to reduce environmental impact of ferry operating in ecologically sensitive waters
16:02 McDermott International enters into agreement for up to $1.7 bln of new financing
15:41 Latest Damen FCS 3307 Patrol vessels for Homeland Integrated Offshore Services Limited arrive in Nigeria
15:27 Victor Chernomyrdin icebreaker successfully completed sea trials
15:02 Deltamarin signs design contracts with Merima
14:44 Pella shipyard started mooring trials for lead crab catching vessel of Project 03070
14:10 CMA CGM announces FAK rates from Asia to the Middle East Gulf
13:49 Patrol ship of RF Navy’s Black Sea Fleet left Greek port of Pylos
13:02 A.P. Møller - Mærsk A/S upgrades EBITDA expectation for 2019
12:50 Marine Recruiting Agency trained 1,344 specialists for port and construction segments in 9M’19, up 14% YoY
12:28 DP World reports 1.1% gross like-for-like volume growth in 3Q 2019
12:26 ESPO congratulates port of Barcelona, Vigo and Baku for getting EcoPorts’ environmental management standard
12:01 Cook Islands, Sao Tome and Principe accede to Cape Town Agreement, 46 declare support
11:45 MPSV12 project vessel "Bahtemir" took part in emergency response exercises in the Gulf of Finland
11:22 3rd “LNG Fleet and LNG Bunkering in Russia” conference kicks off in Moscow
11:13 Bio-based welding-gas production facility to open in the port of Amsterdam
10:44 CMA CGM announces PSS for cargo from Europe and the Mediterranean to Australia and New Zealand
10:20 BLRT Grupp’s Noblessner Homeport project wins in “Best Development Project of 2019” nomination
09:56 Poland's first training centre for port staff opened at the Port of Gdansk
09:33 Brent Crude futures price is down 0.22% to $58.83, Light Sweet Crude – fell by 0.26% to $53.37
09:18 Baltic Dry Index is down to 1,846 points
08:31 MABUX: Bunker Market this morning, Oct 22

2019 October 21

18:25 Navios Acquisition announces $15 mln offering of common stock
18:02 Temasek subsidiary plans to acquire 30.55% of shares in Keppel
17:50 Two LNG-powered Sovcomflot tankers successfully completed voyages along Northern Sea Route
17:36 Anglo-Eastern signs Cyber MOU with Naval Dome
17:13 Guard ship "Yaroslav Mudry" of RF Navy’s Baltic Fleet made business call in Limassol
17:05 Blockchain and DNA-based marine fuels tracking solution BunkerTrace goes live
17:02 Castor Maritime announces vessel acquisition
16:40 Yaroslavsky shipyard launches diving ship '75 Let Pobedy’ built for Transneft UW Service
16:21 Ministerial Conference pushes ratification of Cape Town Agreement
16:16 ACO Marine secures order to design and manufacture a Clarimar MF-3 biological wastewater management system for installation to the luxury yacht
16:09 ABB to bring autonomous technology to the Port of Singapore
16:02 Hunter Group ASA announces delivery of Hunter Saga
15:39 TransContainer reports 9M’19 net profit of RUB 10.426 million, up 68.3% YoY
15:02 Epic Gas completes major refinancing of twenty ships
14:47 Port of Baku becomes first Green Port in Caspian region
14:13 Sulphur 2020: stakeholders prepare for a sea change from 1 January 2020
13:52 USPA starts accepting applications for participation in concession tender of “Olvia Stevedoring Company”
13:34 ABP is ‘calling on all UK technology companies’ to drive innovation
13:13 Innovative vessels visit port of Brussels
12:39 Ports of Antwerp and Zeebrugge initiate merger negotiations
12:12 Aker Solutions and EDP Renewables to develop floating wind farm in Ulsan, South Korea
11:55 Port of Singapore throughput in Jan-Sep’2019 declined by 0.5% to 467.9 million tonnes
11:36 Port of Rotterdam posts Q3 2019 results
11:19 Container throughput of port Hong Kong (China) down 6.5% to 13.68 million TEUs in Jan-Sep’2019
11:00 CMA CGM launches SHIPFIN TRADE FINANCE, its new range of import and export financing solutions
10:48 Port of Helsinki volumes in January-September down 3.3% to 11.16 million tonnes
10:33 Damen partners with Maris to consider seaweed solution
09:51 One-stop principle is crucial for yachting development in Russia - Igor Levitin