• 2019 August 12 08:24

    MABUX: Bunker market this morning, Aug 12

    MABUX World Bunker Index (consists of a range of prices for 380 HSFO, 180 HSFO and MGO (Gasoil) in the main world hubs) turned into a phase of insignificant irregular changes on Aug.09:

    380 HSFO - USD/MT – 361.90  (-0.80)
    180 HSFO - USD/MT – 405.83 (-0.41)
    MGO - USD/MT – 628.50 (+2.06)


    Meantime, world oil indexes rose on Aug.09 supported by expectations of more production cuts by OPEC amid fears the U.S.- China trade row could lead to a global slowdown.

    Brent for October settlement increased by $1.15 to $58.53 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for September delivery rose by $1.96 to $54.50 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $4.03 to WTI. Gasoil for August gained $12.75.

    Today morning oil indexes turned into slight downward correction.

    The IEA’s latest Oil Market Report shows some worrying numbers on oil demand. Consumption declined in May by 160,000 bpd year-on-year. Between January and May, demand was only up by 520,000 bpd, the weakest increase since 2008. Overall, the agency cut global demand growth for 2019 to 1.1 million bpd. The data offers further evidence of an economic slowdown.

    Global financial markets were rocked over the past week after U.S. President Donald Trump said he would impose 10% tariffs on Chinese goods starting September and a fall in the Chinese yuan sparked fears of a currency war. China’s yuan strengthened against the dollar on Aug09, on the back of strong export growth in July.

    Chinese crude oil imports added 14 percent in July as refineries started ramping up processing rates after profit margins began improving thanks to stronger fuel demand.
    The average daily intake was 9.66 million barrels, with fuel exports rebounding as well last month, up by as much as 20 percent despite excess supply. This stronger demand from some industries, notably mining, was one of the key drivers behind the higher imports and processing rates. The other was demand from new refineries. This year may see refining capacity additions of as much as 890,000 bpd in China. Almost half of this will come from a new 400,000-bpd refinery property of teapot Hengli Petrochemical Co..

    Saudi Arabia, de facto leader of the Organization of Petroleum Exporting Countries (OPEC), planned to maintain its crude oil exports below 7 million barrels per day in August and September to bring the market back to balance and help absorb global oil inventories. The United Arab Emirates also will continue to support actions to balance the oil market. The OPEC and non-OPEC ministerial monitoring committee would meet in Abu Dhabi on Sept. 12 to review the oil market. OPEC and its allies including Russia agreed in July to extend their supply cuts until March 2020 to boost oil prices.

    The U.S. Maritime Administration has issued a fresh warning regarding commercial shipping in the Persian Gulf and the key oil chokepoint the Strait of Hormuz, saying that vessels in the area may encounter GPS interference and “spoofed bridge-to-bridge communications from unknown entities falsely claiming to be U.S. or coalition warships.” In at least two of the incidents in the Middle East in the past months, vessels reported GPS interference. The U.S. said in June that countries that get their crude oil via the shipping routes in the Middle East should protect their own ships along the lanes. However, so far only the UK has said it would join the U.S. in protecting tankers after a UK-flagged tanker was seized by Iran last month.

    Libya announced that it has resumed oil production from the country’s largest oilfield, Sharara. The oil production will gradually increase. The field had stopped producing on July 19 after an unidentified group had shutdown a pipeline valve. Production was resumed and the force majeure lifted on July 22, but yet another pipeline valve was closed on July 31, triggering another force majeure. Sharara has a capacity of 340,000 barrels per day, but prior to the most recent force majeure, the field had been pumping at a rate of 290,000 barrels per day.

    The US oil rig count fell by 6 last week, adding to months of losses and bringing the overall rig count to the lowest since the first week of 2018. The combined oil and gas rig count is now 934 for the week, with oil rigs seeing a loss of 105 rigs year on year, with gas rigs down 17 since this time last year. Oil production in the US, however, remains above 12 million barrels per day, up over 1 million bpd over this time last year.

    We expect bunker prices may change upward today in a range of plus 7-12 USD.




2019 August 18

16:51 USCG responds to ferry aground in Boston Harbor
15:09 NOAA awards $2.7 million in grants for marine debris removal and research
13:02 BAE Systems cuts steel for UK Royal Navy's HMS Cardiff
12:46 Kongsberg Digital simulation and software selected to fast-track R&D at new autonomous ship centre in Korea
11:05 NYK sponsors endangered Sea Turtle Research
10:56 Coast Guard cites passenger vessel for operating illegally, terminates voyage

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