• 2019 August 13 08:34

    MABUX: Bunker market this morning, Aug 13

    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 a phase of insignificant irregular changes on Aug.12:

    380 HSFO - USD/MT – 362.24 (+0.34)
    180 HSFO - USD/MT – 404.67 (-1.16)
    MGO - USD/MT – 633.15 (+4.65)


    Meantime, world oil indexes were little changed on Aug.12 as expectations that major producers would continue to reduce global supplies ran into worries about sluggish growth in crude demand due to the U.S.-China trade war.

    Brent for October settlement increased by $0.04 to $58.57 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for September delivery rose by $0.43 to $54.93 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $3.64 to WTI. Gasoil for August unchanged: $555.50.

    Today morning oil indexes do not have any firm trend so far.

    Rystad Energy estimated that the short-term oil demand outlook continues to be weak over global economic uncertainty and a simmering trade war between the US and China. The Chinese economy continues to lag, most recently only posting a 6.2% growth rate, and the US is also showing signs of deceleration. The trade war between the US and China has ratcheted up after the latest US announcement to slap a 10% tariff on $300 billion worth of Chinese goods. The Chinese responded by halting agricultural imports and allowing their currency to depreciate. Rystad Energy still believes demand growth globally will improve in the second half of 2019, but the recent exchange of US-China trade tariffs and overall weak manufacturing, exports and trade indicators elsewhere in the world could cap demand growth recovery.

    Some of the largest maritime security firms have replaced the unarmed British guards on ships traveling in the Persian Gulf with personnel from other countries, fearing that Iran may try to kidnap UK nationals amid heightened tensions in the Middle East and its key oil shipping lanes. Several high-profile incidents in recent weeks and months have increased the tension between Iran and the West in the Middle East and in the most important oil shipping corridor in the world, the Strait of Hormuz, which is in close proximity to Iranian coasts. A U.S. government official and sources in the shipping industry said that there are concerns within the industry that Iran may target to capture UK citizens aboard ships in the Gulf.

    Most of the 17 Iranians that Iran arrested last month claiming to be spies for the CIA were working in the Islamic Republic’s oil sector. As per Iranian official sources, the arrested people were involved in espionage into how Iran is moving its oil now that it’s under U.S. sanctions which scare away almost all of Tehran’s legitimate buyers for fear of coming under secondary U.S. sanctions for dealing with Iran. After the U.S. sanctions kicked in, Iran stopped reporting any oil production and sales data and has tightened the ranks of oil traders, whose key job now is to determine if a potential client is legit and not a spy.

    The International Energy Agency (IEA) reported on Aug.09, that OPEC’s crude oil production dropped by 200,000 bpd in July from June, and helped by additional cuts of 100,000 bpd from the non-OPEC part of the production cut coalition, the market balance in the short term has tightened slightly. OPEC’s compliance with the production cuts that were extended into 2020 in early July was 119 percent last month, while the non-OPEC countries part of the deal showed overall compliance of 107 percent with their share of the cuts. The slight market tightening, however, will be shattered again next year, as the IEA expects “very strong” non-OPEC production growth at 2.2 million bpd.

    The Trump administration has taken its regime change campaign in Venezuela to the next level, initiating a new set of sanctions which may mean a total economic embargo of the country. Last week President Trump signed an executive order freezing all government assets and implementing a total ban on transactions with the government. Now any company – not just American companies – are barred from doing business with the Venezuelan government. Obviously, oil will be at the center of the U.S.-backed reconstruction effort. The U.S. wants to privatize and open up the oil sector, a far-reaching overhaul that would be radically different from anything that Venezuela has experienced in decades.

    We do not expect any drastic changes in bunker prices today. Slight fluctuations plus-minus 2-4 USD may prevail.




2019 August 20

18:40 ATON repair and maintenance shop to be built at navigation post in Taganrog Bay
18:06 CMA CGM announces FAK rates from Asia to North Europe
17:29 Wallem-managed bulk carrier rescues Indonesian fishermen lost at sea for 10 days
17:06 MAN Energy Solutions and Samsung Heavy Industries sign a strategic cooperation agreement for the digitization of marine engines
16:35 CMA CGM announces GRR from Asia to East and South Africa
16:34 IAA PortNews offers its video on Russian bunkering market being prepared for 2020 sulphur cap
16:11 ABB’s digital solution for shipping fleets helps to further reduce fuel costs and environmental footprint
15:49 Passenger Port of Saint Petersburg to assist Lead Partner under Kotka Pax project
15:32 Associated British Ports launches first Port Operative Apprentice Scheme
14:56 Port of Gdansk makes another step towards the Central Port project
14:28 Marine Cargo Bureau sponsors roundtable meeting “Import Substitution in Russian Shipbuilding: Ambition and Reality”
14:03 Diamond S Shipping commences fleet renewal efforts with sale of two vessels
13:54 NIBULON continues building floating crane of Project P-140
13:35 Bunker prices are flat at the Far East ports of Russia (graph)
13:30 Serco announces captains for Australia’s new Antarctic research vessel
13:13 RF Ministry of Labour approves ‘Stevedore’ standard
12:47 Russian Maritime Register of Shipping signed new agreement with Maritime Administration of the Republic of Cyprus
12:12 Strong second quarter helps Tallink deliver steady result for first six months of 2019
11:49 KN Klaipėda oil terminal berths to undergo reconstruction
11:28 Port of Tallinn named as one of Europe’s best in first ever ‘Ones to Watch’ list
11:01 World's largest container ship completes first voyage from Asia to Europe
10:43 Port of Tallinn reports its financial results for 2019 Q2 and 6 months
10:24 Rosgeo completed digital processing of seismic data on the Laptev Sea
10:02 Fitch Ratings affirms Panama Canal's 'A' rating with a stable outlook
09:50 KfW IPEX-Bank structures financing package for two cruise ships of the Genting Hong Kong Group
09:40 Baltic Dry Index is down to 2,067 points
09:17 Brent Crude futures price is up 0.15% to $59.82, Light Sweet Crude – up 0.14% to $55.22
09:09 MABUX: Bunker market this morning, Aug 20

2019 August 19

18:41 Andrey Zubarev takes the helm at Sea Port St. Petersburg
18:36 Hapag-Lloyd announces General Rate Increase from East Asia to South America Eastcoast
18:26 Rosterminalugol YTD coal exports volume hits the 15-millionth-tonne mark
18:04 CMA CGM Group to take part in the Asia Fruit Logistica 2019 in Hong Kong
17:36 MPA launches Singapore’s first Maritime Sustainability Reporting Guide
17:04 ACO Marine commissions a series of Clarimar wastewater treatment plants for Jadrolonija
16:35 Suez Canal Container Terminal announces plans to open reefer repair hub to all brands
16:19 Jumbo and GoodFuels partner to take sustainable bio-fuel oil to the offshore support market
16:11 Main phase of Beloomut hydro engineering system rehabilitation project to be completed by the end of 2019, Moscow Canal authority says
15:58 LR awards world’s first digital type approval to HHI
15:32 d’Amico International announces the sale of one of the vessels
15:09 Samsung Heavy to advance smart ship technology in cooperation with equipment producers
14:17 JFD signs strategic partnership with Aquacentrum Den Helder to provide submarine escape training
13:09 Samsung Heavy Industries to win orders for 10 LNG-fueled vessels
12:53 Kraken’s ThunderFish® delivered to DRDC, Canada
12:09 Sinanju signs 2-year time charter agreement with ExxonMobil for LNG-powered “Marine Vicky”
11:18 MODEC announces issuance of project bond for FPSO charter project
11:16 Registration underway for “Import Substitution in Russian Shipbuilding: Ambition and Reality” Roundtable
11:09 Busan Port-Qingdao Port concludes MOU to promote cruise business
10:08 RAN signs two year lease extension with the National Australia Bank for its two Cape Class Patrol Boats
09:43 Brent Crude futures edge up to $ 59,28, WTI – to $ 55,34
09:08 The BPA and the Port of Rotterdam Authority concludes a development agreement to construct and operate the Rotterdam Distribution Center
09:01 Baltic Dry Index rises 2% to 2088 points
08:56 MABUX: Bunker market this morning, Aug 19
08:49 Hapag-Lloyd announces General Rate Increase from East Asia to Latin America

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