• 2019 August 14 08:26

    MABUX: Bunker market this morning, Aug 14

    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) demonstrated slight downward evolution on Aug.13:

    380 HSFO - USD/MT – 355.93 (-6.31)
    180 HSFO - USD/MT – 399.57 (-5.10)
    MGO - USD/MT – 632.04 (-1.11)


    Meantime, world oil indexes jumped on Aug.13 after the United States said it would delay imposing a 10% tariff on certain Chinese products, easing concerns over a global trade war that has pummelled the market in recent months.

    Brent for October settlement increased by $2.73 to $61.30 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for September delivery rose by $2.17 to $57.10 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $4.20 to WTI. Gasoil for September rose by $19.00.

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

    The Chinese Ministry of Commerce said in a statement on Aug.13 that U.S. and Chinese trade officials spoke on the phone and agreed to talk again within two weeks. The Chinese products include laptops and cellphones. The tariffs had been scheduled to start next month. The possibility that the United States and China can continue the trade talks is raising hopes that they might actually get some type of deal.

    Iran is going to restructure its budget in a way that should reduce the country’s dependence on oil revenues to zero. The Iranian officials also admitted the government would need to restructure its budget to reduce oil’s weight in it even without sanctions. In the latest budget approved by the Iranian government last December, revenues from oil exports were calculated at US$21 billion. This would constitute a third of the budget for the 2019/2020 financial year that started this March. The figure assumed an average price for Iranian oil of between US$50-54 a barrel. That’s cautious enough but it also assumed average daily exports of 1-1.5 million barrels. After the removal of sanction waivers for Iran’s largest oil buyers, most sources agree that Iran is exporting a lot less than that.

    Saudi Arabia said late last week it plans to keep its crude oil exports below 7 million barrels per day in August and September to help drain global oil inventories. Market expects the country to support prices ahead of its plans to float Saudi Aramco, in what could be the world's largest initial public offering (IPO). Saudi Aramco was ready for its IPO, but the timing for the deal will be decided by its sole shareholder, the Saudi government. Aramco’s valuation, which The Kingdom feels is $2 trillion, is dependent on oil prices. Analysts claim that this $2 trillion valuation is overpriced, and that the real value of Aramco is at most $1.5 trillion.

    The People's Bank of China lowered its official yuan midpoint for the ninth straight day to 7.0326 per dollar. A lower yuan increases the cost of dollar-denominated oil imports in China, the world's biggest crude oil importer.

    Booming U.S. shale oil output also continues to chip away at efforts to limit the global supply overhang, weighing on prices. U.S. oil output from seven major shale formations is expected to rise by 85,000 barrels per day (bpd) in September to a record 8.77 million bpd. The start-up of a major pipeline between the Permian shale basin and the Gulf Coast means that more crude can be exported, adding to global supplies.

    The shipping industry is preparing for a disruption of the types of fuels it will be using as of the beginning of 2020, but the oil and fuels market, as well as refiners, are also getting ready for the impact. Wood Mackenzie forecasts, that due to the new rules, gasoil’s price differential to crude oil will be stronger while the HSFO spread will weaken. In terms of individual oil-producing nations, the first impression is that the impact on the largest sour crude producers—Saudi Arabia, Russia, and Iraq—could be quite significant. Among other producers, WoodMac is concerned that Canada could be badly hit because of its heavy oil sands output, while Brazil and the U.S. would be winners because of their large production of heavy-sweet and light-sweet crudes, respectively.

    The American Petroleum Institute (API) has estimated a surprise crude oil inventory build of 3.7 million barrels for the week ending Aug 8, compared to analyst expectations of a 2.761-million barrel draw. Market awaits now weekly oil inventory data from the U.S. Energy Information Administration which is due to be released at its regularly scheduled time later today.

    We expect bunker prices may demonstrate firm upward trend today in a range of plus 13-20 USD.




2020 January 23

12:05 Port of Long Beach moves more than 7.6 million TEU in 2019
11:48 Croatian DIV Group in process to take-over Kleven Verft
11:00 Austal awarded A$15.5m contract for a 41 metre high speed catamaran ferry for SGTM Mauritius
10:56 MABUX: Bunker market this morning, Jan 23
10:27 ABS marks record-setting three years without a work-related lost time injury
10:25 IBIA: IMO 2020 preparations pay off
10:03 Brent Crude futures price is down 0.4% to $64.33, Light Sweet Crude – down 0.48% to $58.1
09:46 TransContainer dispatched test train with hazardous cargo in reefers from Korea to Poland
09:24 Baltic Dry Index is down to 623 points
09:08 Swissterminal and DP World enter strategic partnership
08:36 CMA CGM introduces NETWORKING INTERMEDIATION SERVICES

2020 January 22

18:37 BunkerTrace secures first commercial partnership with Marfin Management
18:07 MAN Cryo to supply icebreaking RoRos with fuel gas supply system
17:45 Throughput of Chinese sea and river ports in 2019 grew by 5.7% YoY to 13.95 billion tonnes
17:20 Ships of RF Navy’s Northern Fleet approached the Strait of Tunis
17:06 Boluda Towage Europe introduces 1st retrofit of conventional tug complying with IMO TIER III Standards in Zeebrugge
16:56 Russian-Japanese anti-piracy exercise successfully completed in the Arabian sea
16:05 European shipping industry urges the revival of Operation Sophia
15:38 Marubeni and Klaveness join forces to create the world’s leading dry bulk Panamax pool
15:23 IMO Secretary-General calls for renewed cooperation at Davos forum
14:57 Positive steps for Somalia’s maritime sector
13:40 Medium sized sea tanker Akademik Pashin entered service with the Baltic Fleet
12:52 Bunker prices are slightly down at the port of Saint-Petersburg, Russia (graph)
12:29 Nonius Engineering supports 7th International Forum of Dredging Companies as its Sponsor
11:44 NIBULON’s fleet transported a record number of cargoes by Ukrainian rivers in 2019
11:19 DNV GL’s Technology Outlook 2030: Digital acceleration and climate change
11:01 IMO Secretary-General assesses progress on sulphur limit implementation
10:58 NIBULON’s non-self-propelled B1500 Project vessel made its first cargo trip
10:36 Nibulon achieved record export results in 2019
10:13 Representatives of Russian and Japanese Navies held briefing on board Baltic Fleet’s guard ship
10:10 MABUX: Bunker market this morning, Jan 22
09:51 Ministers of the Government of the Russian Federation appointed
09:32 Brent Crude futures price is down 0.4% to $64.33, Light Sweet Crude – down 0.48% to $58.1
09:15 Baltic Dry Index is down to 689 points

2020 January 21

18:27 ABS and Hyundai Heavy Industries complete landmark smart functions JDP
18:07 Mystic orders four more Explorer Class Polar expedition vessels
17:43 Outer Port is among main topics of Polish-Japanese economic cooperation
17:19 Wärtsilä LNG Bunkering & Fuel Supply System Simulator launched to raise training levels
17:18 BCT ends 2019 with highest every cargo handling of 500 000 TEU
16:55 Letter of Intent signed between Port of Gdynia Authority S.A. and Pelixar S.A.
16:14 New ASCO vessel to be named after Academician Khoshbakht Yusifzadeh
15:30 Port of Singapore throughput in 2019 declined by 0.6% to 626.18 million tonnes
15:01 Freight turnover of Neva-Metal (Saint-Petersburg) in 2019 remained flat Y-o-Y at 3.2 million tonnes
14:39 18,880 ships with total tonnage of 1.2 billion tonnes passed Suez Canal in 2019
14:06 BIMCO issues update on Persian Gulf tensions and sanctions clauses
13:42 Rosmorport reports on icebreaker support in Russian seaports as of mid-January 2020
13:17 Throughput of port Kaliningrad in 2019 fell by 21% Y-o-Y to 11.06 million tonnes
12:53 Eesti Gaas becomes one of the largest LNG suppliers in the region
12:28 Throughput of port Vyborg in 2019 fell by 37% Y-o-Y to 1.21 million tonnes
12:05 German Naval Yards Kiel takes legal actions against MKS 180 procurement
11:54 Bunker sales at the port of Singapore in 2019 fell by 4.6% Y-o-Y to 47.5 million tonnes
11:29 Throughput of port Vysotsk in 2019 climbed by 3% Y-o-Y to 19.40 million tonnes
11:05 Fincantieri enters the green cutting-edge project “ITER”
10:52 Throughput of port Primorsk in 2019 grew by 14% Y-o-Y to 61.02 million tonnes
10:37 Software for ship agents supported with digitalisation grant
10:21 Baltic Dry Index is down to 729 points
10:05 Brent Crude futures price is down 0.55% to $64.84, Light Sweet Crude – down 0.32% to $58.39
09:53 MABUX: Bunker market this morning, Jan 21
09:47 MOL Logistics (Thailand) strengthens total logistics services
09:30 Port of Ust-Luga handled 103.85 million tonnes in 2019, up 5% Y-o-Y