• 2019 July 18 09:56

    MABUX: Bunker market this morning, July 18

    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) continued moderate downward evolution on July 17:

    380 HSFO – USD/MT 433.45 (-6.23)
    180 HSFO – USD/MT 467.69 (-5.58)
    MGO – USD/MT 665.68 (-2.39)


    Meantime, world oil indexes also fell on Jul.17, extending a more than 3% drop in prices the previous session, after U.S. government data showed large builds in refined product stockpiles.

    Brent for September settlement decreased by $0.69 to $63.66 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for August delivery fell by $0.84 to $56.78 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $6.88 to WTI. Gasoil for August lost $17.50.

    Today morning oil indexes do not have firm trend and change irregular.

    U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 3.1 million barrels from the previous week. At 455.9 million barrels, U.S. crude oil inventories are about 4% above the five year average for this time of year, confirming and even exceeding the American Petroleum Institute’s Tuesday estimate of a small 1.401-million-barrel draw. Final figure follows an estimated a 9.5-million-barrel draw in oil inventories for the previous reporting period. In distillate fuels, the authority reported an increase in inventories of 5.7 million barrels, versus a build of 3.7 million barrels for the previous week. Production last week averaged 5.4 million bpd for the second week in a row.

    More than half of daily crude production in the Gulf of Mexico remained offline on Jul.18 in the wake of Hurricane Barry, as most oil companies were re-staffing facilities to resume production. The Bureau of Safety and Environmental Enforcement said 1.1 million barrels per day of oil, or 58% of the region’s total, and 1.4 billion cubic feet per day of natural gas output remained shut.

    Oil prices slumped on Jul.16 on increased hopes for a return of Iranian crude to the global oil market after U.S. President Donald Trump said progress had been made with Tehran, signaling tensions could ease in the Middle East. However, Iran later denied it was willing to negotiate over its ballistic missile program, contradicting a claim by U.S. Secretary of State Mike Pompeo, and appearing to undercut Trump’s statement.

    The Turkish Foreign Affair Ministry on Jul.16 rejected the notion of European Union sanctions on Turkey over its drilling for gas in disputed eastern Mediterranean waters, pledging instead to send yet another ship to the area. The day before, European Union foreign ministers approved a new batch of sanctions against Turkey: the EU was suspending talks on an air transport agreement and would call on the European Investment Bank to review its lending to the country. Meanwhile, ministers of the EU members backed a proposal by the EU’s executive branch to reduce financial assistance to Turkey for the next year. Old tensions in the Eastern Mediterranean between Turkey and the EU member state Cyprus about jurisdiction for offshore oil and gas deposits intensified after Turkey’s decision to send a second drilling ship into disputed waters off the coast of Cyprus.  

    The United Kingdom discussed on Jul.17 the detained Iranian oil tanker Grace 1. The tanker was seized earlier this month by British Royal Marines off the coast of the British Mediterranean territory of Gibraltar on suspicion of violating sanctions against Syria. Shipping data suggests that the tanker en route to Syria was loaded with Iranian oil off the Iranian coast. If the tanker indeed loaded oil from Iran, it was not only in breach of EU sanctions on the Syrian entity owning the refinery believed to be the destination of the oil, but it also violated the U.S. sanctions on Iran’s oil exports. Now the UK will facilitate the release of the Iranian oil tanker detained by Gibraltar if Iran gives guarantees that the crude loaded on that vessel wasn’t bound for Syria.

    Shippers trying to minimize time in the Middle East after oil tanker attacks pushed up insurance costs are scaling back purchases of marine fuels from the United Arab Emirates' (UAE) Fujairah oil hub. Instead, they are turning primarily to Singapore with some diverting to smaller bunkering ports, including in India and Sri Lanka. A ton of 380 HSFO in Fujairah has slipped from an average $5-$10 premium over Singapore in May to a discount of $30-$70 over the past two weeks. The increased bunker demand in Singapore helped push Asian fuel oil market premiums to record highs last week. Singapore fuel oil inventories have mostly fallen since May as suppliers clear stocks of HSFO ahead of a shift to lower-sulphur grades under global ship fuel rules due to take effect next year.

    We expect bunker prices may continue downward trend today in a range of minus 4-12 USD.




2019 December 12

18:36 EBRD finances Tekirdag port on Turkey’s Sea of Marmara
18:05 Dutch Drone Delta established with Port of Rotterdam Authority support
17:51 Port of Southampton continues infrastructure investment with £3m crane
17:30 Baltic Workboats shipyard delivers 19 WP Oilrec workboat
17:05 The European Federation of Inland Ports welcomes the Green Deal for Europe
16:46 MOL orders 2 next-generation 'EeneX' coal carriers
16:43 Throughput of port Kaliningrad in Jan-Nov’2019 fell by 21% Y-o-Y to 10.20 million tonnes
16:26 Klaipėda LNG terminal welcomed three large and four small LNG vessels in November
16:05 Air quality sensor in the Port of Rotterdam checks sulphur emissions from shipping
15:57 Throughput of port Vyborg in Jan-Nov’2019 fell by 35% Y-o-Y to 1.12 million tonnes
15:34 Alewijnse wins electrical contracts for two additional Combi Freighters at Damen Yichang Shipyard
15:00 Throughput of port Vysotsk in Jan-Nov'2019 climbed by 6% Y-o-Y to 17.90 million tonnes
14:36 Krasnoye Sormovo shipyard launches dry cargo carrier Pola Anastasia of Project RSD59
14:12 CMA CGM announces FAK Reefer Rates from North Europe to Asia and Middle East
13:53 Bunker market sees mixed price movements at the Far East ports of Russia (graph)
13:31 NLNG signs sales deal with Vitol SA
13:12 Austal USA delivers USNS Puerto Rico to U.S. NAVY
12:49 Throughput of port Primorsk in Jan-Nov’2019 grew by 16% Y-o-Y to 56.25 million tonnes
12:24 Lead nuclear-powered icebreaker of Project 22220, Arktika, left for sea trials
12:00 ABS publishes Fuel Cell Guidance to support industry decarbonization objectives
11:38 Port of Ust-Luga handled 95.31 million tonnes in 11M’18, up 6% Y-o-Y
11:13 Throughput of Port St. Petersburg in 11M'2019 grew by 2% to 55.01 million tonnes
11:10 Verifavia Shipping undertakes IHM services for 29 Attica Group vessels
10:56 Wärtsilä to divest its ELAC Nautik business
10:49 Throughput of port Riga (Latvia) in 11M’2019 fell by 9.4% Y-o-Y to 30 million tonnes
10:26 TransContainer dispatched test train from Korea to Poland
10:05 MABUX: Bunker market this morning, Dec 12
09:47 Brent Crude futures price is up 0.41% to $63.98, Light Sweet Crude – up 0.14% to $58.84
09:31 Baltic Dry Index is down to 1,460 points
09:08 Viking Line’s new vessel to be equipped with Climeon Heat Power System
08:12 Nautilus Labs becomes new Inmarsat fleet data application provider

2019 December 11

18:33 Kongsberg and the Norwegian Society for Sea Rescue join forces to develop new SAR solutions
18:03 DOF Subsea secures integrated FSV contract in Africa
17:50 NCSP Group's consolidated cargo turnover for 10 months of 2019 totaled 121.2 million tons
17:32 Equinor completes the acquisition of a 50 % interest in the offshore wind development project Bałtyk I in Poland from Polenergia
17:25 LNG in the era of decarbonization: the 6th International LNG Congress 2020 brings up environmental questions
17:13 Port Houston sets new records at container terminals in November 2019
16:54 World's first liquefied hydrogen carrier SUISO FRONTIER launches building an international hydrogen energy supply chain aimed at carbon-free society
16:32 Seaspan Shipyards delivers its second offshore fisheries science vessel to the Canadian Coast Guard
16:13 Port of Virginia сargo volume up nearly 4% in November 2019
15:49 Throughput of port Taganrog in 11M'2019 fell by 7% to 2.59 million tonnes
15:32 Aker BP first ever to use new well stimulation method offshore
15:12 Port of Savannah container volumes up 5.4 percent in November 2019
14:51 Sovcomflot named Company of the Year at the 2019 Lloyd’s List Europe Awards
14:32 Aker Solutions secures contract to support the development of BP’s Cypre project, offshore Trinidad and Tobago
14:12 Port of Oakland export volume up 5.8 percent in November 2019
13:50 Bunker prices are flat at the port of Novorossiysk, Russia (graph)
13:32 Belships enters into two letters of intent for the acquisition of two Ultramax bulk carriers
13:11 Port of Los Angeles moves 728,918 TEUs in November 2019
12:47 Dredge Yard receives an order for a customized Cutter Suction Dredger from Western Potash
12:47 Yamal LNG received all 15 Arc7 ice-class tankers
12:25 Wärtsilä & CSSC Huangpu Wenchong Shipbuilding Company Limited agree to jointly develop hybrid vessels for the future
12:23 Admiralteiskie Verfi shipyard starts metal cutting for fourth super trawler ordered by Russian Fishery Company
12:01 ABS and DSME sign digitalization and decarbonization JDP agreement
11:31 New mobile crane increases APM Terminals Yucatán’s productivity by 40%
11:19 Throughput of Russian seaports in 11M'2019 grew by 2.7% to 766.8 million tonnes of cargo (detalization)
11:12 First LNG bunkering delivered concurrent cargo operations in port of Amsterdam
10:59 Port of Long Beach cargo volumes dip 3.5% in November 2019
10:54 Navigation season of 2019 is over on Russia’s IWW with shipping closed in Azov-Don Basin
10:30 MABUX: Bunker market this morning, Dec 11