• 2019 August 22 08:44

    MABUX: Bunker market this morning, Aug 22

    The Bunker Review was contributed by Marine Bunker Exchange (MABUX)

    MABUX World Bunker Index (consists of a range of prices for 380 HSFO, 180 HSFO and MGO (Gasoil) in the main world hubs) changed insignificant and irregular on Aug.21:

    380 HSFO - USD/MT – 354.33 (-1.43)
    180 HSFO - USD/MT – 400.43 (-1.43)
    MGO - USD/MT – 637.65 (+1.34)


    Meantime, world oil indexes did not have firm trend and changed irregular on Aug.21 after U.S. government data showed a big drawdown in domestic crude stockpiles, but rises in refined product inventories limited price gains.

    Brent for October settlement increased by $0.27 to $60.30 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for October delivery fell by $0.45 to $55.68 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $4.62 to WTI. Gasoil for September gained $8.50.

    Today morning oil indexes turned into slight downward correction.

    U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 2.7 million barrels from the previous week. At 437.8 million barrels, U.S. crude oil inventories are about 2% above the five year average for this time of year. The EIA’s latest figure compared with inventory builds for each of the last two weeks. Last week, the authority reported an increase of 1.6 million barrels and the week before that, it estimated a rise of 2.4 million barrels.

    The U.S. government extended waivers on sanctions on companies doing business with Huawei, viewed as a conciliatory gesture towards China. Fears of an economic recession seem to have the Trump administration concerned, and top U.S. officials have talked up trade negotiations. The Trump administration is also reportedly exploring a payroll tax amid growing concerns about the economy.  

    China CNPC, a leading buyer of Venezuelan oil, has halted August loadings following the latest U.S. sanctions on the South American exporter. A CNPC spokesman declined to comment. Most deliveries of Venezuelan oil and refined products to CNPC’s units are intended to monetize billions of dollars lent by China to Venezuela through oil-for-loan pacts. In July, Venezuela exported 563,000 bpd of crude and fuel to China, mostly through CNPC and Russia’s Rosneft.  The Trump administration in early August froze all Venezuelan government assets in the United States and U.S. officials ratcheted up threats against companies that do business with Venezuela’s state-run oil company PDVSA.

    The Iranian oil carrier Helm, one of the world’s largest crude tankers, signaled distress at on Aug.20, in the Red Sea off the Saudi port of Yanbu. Iran’s tanker fleet is under global scrutiny amid U.S. sanctions seeking to choke off the country’s crude sales. The U.S. failed in efforts to seize a loaded supertanker allegedly bound for Syria that had been blocked in Gibraltar for more than a month. Iranian tankers in response have turned off their satellite transponders intermittently in an apparent attempt to mask their voyages to supply crude. The Helm appears to have used that strategy since loading some crude in Iran in May.

    Argentine President Mauricio Macri unveiled a series of stimulus measures last week in response to a shockingly bad performance in the nation’s primary. The package also came in the wake of market gyrations that saw the peso lose roughly 25 percent. President Macri froze fuel prices for three months, a move that is a huge setback for the oil industry. It may slash spending by $100-$120 million per month as long as the price controls remain in effect.

    Freepoint Commodities Singapore says it will start supplying very low-sulphur fuel oil (VLSFO) in the fourth quarter in the world’s largest bunkering port when ships start testing a fuel that will meet global standards going into effect from 2020. The International Maritime Organization (IMO) has mandated that ships globally have to reduce the sulphur content in the fuels they use to 0.5% from 3.5% from 2020 to cut pollution. That means shippers will have to choose between installing air pollution control devices called scrubbers so they can keep burning high-sulphur fuel oil (HSFO), or opting to use more expensive VLSFO, marine gasoil or alternative fuel (i.e. LNG) to power their vessels. At the moment Buyers want to make sure they have good and consistent quality. Many of them have asked for a minimum viscosity guarantee (that many suppliers are not willing or able to guarantee). Shipowners want oils that have a viscosity of at least 100-centistoke. A higher viscosity points to a higher calorific value and is more suitable to existing ship engines, with most now burning HSFO with viscosity between 380-cst and 700-cst.

    We expect bunker prices may change irregular today in a range of plus-minus 2-5 USD.




2019 September 21

16:17 USCG responds to breakaway barges striking I-10 San Jacinto River bridge
15:14 Eastern Shipbuilding launches the C.D WHITE for E.N. Bisso & Son
14:06 Boskalis associate Smit Lamnalco signs first 10-year terminal services contract in Mozambique
12:52 Kongsberg wins first full-scope expedition cruise vessel tender, with gensets and propulsion equipment
11:34 Rauma Shipyard bags Finnish Navy's four corvettes order

2019 September 20

18:41 Vostochny Port joins Coordinating Council on Trans-Siberian Transportation as its permanent member
18:22 IAA PortNews offers photo release from 'Development of Icebreaking and Support Fleet' conference held on NEVA 2019 zero-day
18:05 Global Ship Lease announces new five-year $268 mln credit facility for debt refinancing
17:24 Vostochny Port’s harbour services fleet presented at dedicated conference in Saint-Petersburg
17:05 F. A. Vinnen places entire fleet with Verifavia Shipping & Rina for IHM services
16:50 Helsinki Shipyard (Finland) to build two liners for polar cruises
16:35 COSCO SHIPPING Ports announces disposal of interest in various port assets and possible disposal of Taicang Terminal and Jiangsu Petrochemical Terminal
16:21 ABB presents electric power and propulsion solutions for icebreaking vessels at NEVA 2019
16:05 Port of Los Angeles protects overall clean air gains
15:19 Port of Riga rapidly increases volume of handled wood pellets
14:53 South Korean port to slash passenger vessel emissions with ABB shore power
14:15 Krasnoye Sormovo launches Pola Pelagia, dry cargo carrier of Project RSD59З, for Pola Rise
13:30 Damen Shipyards Group is ready to ensure construction of electric water buses for rivers and canals of Saint-Petersburg and Russia
13:12 MSC Cruises and Fincantieri unveil further details of MSC Seashore at coin ceremony
12:24 Victor Olersky sees promising future of electric river passenger ships in Saint-Petersburg and in Russia
12:09 Algoma Central Corporation announces agreement to acquire Croatian-built vessel
11:28 Specifications for 0.50% sulphur fuels and the PAS from ISO: IBIA explains
11:09 GTT obtains Approval in Principle from Bureau Veritas for the Mark III Flex technology on ice-breaking LNG carriers
10:52 IBIA and S&P Global Platts collaborate to help shipping industry comply with IMO 2020
10:31 Workshop for training on emergency response, preparation and planning held in Manila
10:09 Van Oord and Shell test the use of biofuel on trailing suction hopper dredger HAM 316
09:50 State Duma ratifies Convention on the Legal Status of the Caspian Sea
09:33 Brent Crude futures price is up 0.20% to $63.73, Light Sweet Crude – up 0.98% to $58.7
09:25 Lloyd’s Register, China Merchants, GTT, CNOOC, DSIC form jv to design LNG-fuelled VLCC
09:17 Baltic Dry Index is down to 2,192 points
08:58 MABUX: Bunker Market this morning, Sept 20

2019 September 19

18:04 Bibby Marine Services takes the next step to optimize walk-to-work operations
17:56 Marinet approves Poseidon maritime cyber security project
17:37 American Ethane reveals plans to order 17 VLECs
17:34 Wärtsilä’s Board of Directors decided on the distribution of the second dividend instalment
17:22 Marinet approves T2OT project for high accuracy positioning of seagoing vessels
17:04 VARD secures advanced stern trawler contract with Luntos
16:50 Average wholesale prices for М-100 HFO down to RUB 14,328 in RF spot market
16:34 Zeebrugge port authority invests in new 1,071 meter quay wall
16:04 RINA to classify Swedish Maritime Administration fleet
15:53 Marinet set to establish exports support center in Finland in 2020
15:34 MacGregor secures orders worth more than EUR 20 million for projects in Europe and Asia
15:05 Wärtsilä foresees a lower result for 2019
14:31 North Pole ice-resistant platform presented by Admiralteiskie Verfi at NEVA 2019
14:09 ABS announces LNG Cargo Ready notation for ethane carriers at Gastech 2019
13:46 Hyundai Heavy Industries receives AIP for new LPG carrier design
13:03 Bunker prices go up at the Far East ports of Russia (graph)
12:40 ABS and AEC сollaborate on newbuild VLEC fleet
12:17 Murmansk Sea Fishing Port handled 171,200 tonnes of cargo in 8M’2019, down 28.5% Y-o-Y
11:58 PortNews-TV offers video on naming ceremony for PortNews tanker
11:36 International symposium on Anthropogenic Underwater Noise held in Hamburg on 10 September
11:09 LR awards DSME AiP for 98,000 m3 VLEC design with High MnA steel tank
10:42 Ships of RF Navy’s Caspian flotilla take part in Tsentr 2019 maneuvers
10:09 Singapore and Panama ink MoU to strengthen maritime relations
09:51 Brent Crude futures price is up 0.20% to $63.73, Light Sweet Crude – up 0.33% to $58.23
09:49 MABUX: Bunker market this morning, Sept 19
09:33 Baltic Dry Index is down to 2,266 points
09:18 ABS grants AIP for two next generation gas carrier designs

2019 September 18

18:26 SGRE confirmed member of the Dow Jones Sustainability Indices in 2019
18:03 MOL repays existing loans through issuance of project bond for FPSO charter project