• 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 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