• 2019 September 3 08:42

    MABUX: Bunker Market this morning, Sep 03

    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) declined on Sep. 02

    380 HSFO - USD/MT 364.44 (-5.98)
    180 HSFO - USD/MT 405.85 (-6.20)
    MGO - USD/MT 644.10 (-1.23)


    Meantime, world oil indexes also demonstrated downward changes on Sept. 02.

    Brent for November settlement decreased by $0.59 to $58.66 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for October delivery declined by $0.26 to $54.84 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of 2.82 to WTI. Gasoil for September delivery fell by $5.50.

    Today indexes are steady because of China-US tensions and a rise in OPEC output.

    The latest tariffs officially came into effect on Sep.01, with the US placing 15 per cent tariffs on over 3,000 Chinese products worth $110 billion. In turn China announced their own new batch of tariffs, which also came into effect on Sep.1 on $75 billion worth of American goods, including US crude oil. Further tariffs are also set to kick in December by both countries unless a trade agreement is agreed on before then.

    Output from OPEC rose in August for the first month this year as higher supply from Iraq and Nigeria outweighed restraint by top Saudi Arabia and losses caused by U.S. sanctions on Iran. OPEC, Russia and other non-members, known as OPEC+, agreed in December to reduce supply by 1.2 million bpd from Jan. 1 this year. OPEC's share of the cut is 800,000 bpd, to be delivered by 11 members and exempting Iran, Libya and Venezuela.

    An Iranian oil tanker pursued by the U.S. across the Mediterranean Sea slowed to a near-stop Sunday off the coast of Syria, where America’s top diplomat alleges it will be unloaded despite denials from Tehran. Tehran sent a deputy foreign minister and a team of economists to Paris on Monday for talks over ways to salvage the accord after a call between Iranian President Hassan Rouhani and French President Emmanuel Macron. The U.S. has been warning countries not to accept the Adrian Darya, which carries 2.1 million barrels of crude oil worth some $130 million. The U.S. has sanctioned the Adrian Darya’s captain and has sought to impound the vessel. Authorities in Gibraltar alleged the ship was bound for a refinery in Baniyas, Syria, when they seized it in early July. They ultimately let it go. Iranian officials have said the oil onboard the Adrian Darya had been sold to an unnamed buyer. However, anyone buying Iranian crude oil would be subject to U.S. sanctions.

    While U.S. sanctions on Iran's oil industry have slashed the OPEC member's crude exports by more than 80%, oil product sales from the Islamic Republic remain strong at nearly $500 million a month. Sanctions have barely affected Iran's exports of oil products, primarily fuel oil used for power generation and shipping as well as liquefied petroleum gas (LPG) used as cooking gas and petrochemical feed. Iran's product exports reached their highest level in August.

    Hurricane Dorian came ashore in the Bahamas tied as the most powerful storm to hit land anywhere in the Atlantic. Oil indexes ware driven by the prospect of Dorian reducing gasoline demand in Florida, Georgia and South Carolina, Jeffrey Halley. WTI could quickly recoup those losses if Dorian looks like it will miss the Florida panhandle and the Carolinas.

    Data due this week on U.S. inventory levels will be delayed by a day to Wednesday and Thursday amid the U.S. Labor Day holiday on Sept.02.

    We expect bunker prices to demonstrate downward changes today: about 5-8 USD down for IFO, about 3-5 USD down for MGO.




2020 February 26

09:35 Brent Crude futures price is up 0.65% to $54.61, Light Sweet Crude – up 0.8% to $50.3
09:17 Baltic Dry Index is up to 508 points

2020 February 25

18:06 Maritime world players gather in Antwerp for World Ports Conference 2020
17:51 Four new IBIA board members announced at AGM
17:30 ClassNK develops its Digital Grand Design 2030
17:18 Piraeus Bank enters into a strategic collaboration with ORIX Corporation to provide financing solutions to the Greek maritime sector
17:02 DNV GL awards MSC new container ship fire safety notation
16:36 Foreship scrubber enquiries surge as owners clear the air
15:59 Trust Management sells crude oil tanker FSL Shanghai
15:49 RF Navy’s Baltic Fleet starts preparing for "Sea Cup" competition
14:58 Gazprom Neft’s net profit exceeds RUB400 billion in 2019
14:33 World Bank presents results of its study on prospects for strengthening Ukraine’s port sector governance
14:05 Marakeb Technologies and Fincantieri sign MOU for unmanned technology collaboration
13:27 THE Alliance announces details of 2020 Middle East service network
12:42 Container Terminal Saint-Petersburg upgrades its fleet of production equipment
12:17 COSCO SHIPPING Lines maintains logistics chain for international trade
12:01 KSS Line adds one new VLGC model after four vessels in 2019
11:25 DP World acquires the largest multi-purpose deep-sea marine terminal on the West Coast of North America
11:16 PPA scores big in latest survey, continues to veer away from 'corruption' tag
10:43 World Maritime University signs MoU with Maritime Academy of Asia and the Pacific
10:15 Logistics specialist leases Newport Docks warehouse
10:14 CMA CGM announces PSS from Europe, Scandinavia, Black Sea & West Med to Reunion, Mauritius, Mayotte, Comoros, Seychelles & Madagascar
10:09 MABUX: Bunker market this morning, Feb 25
09:51 Throughput of port Shanghai (China) in Jan’20 fell by 13.2% to 41.75 million tonnes
09:30 Brent Crude futures price is up 0.3% to $55.94, Light Sweet Crude – up 0.39% to $51.63
09:12 Baltic Dry Index is up to 506 points

2020 February 24

16:43 MOL and DSME sign joint development agreement for environmental friendly FSRU technology
15:06 Wilhelmsen Group's fourth-generation owner Wilhelm Wilhelmsen dies
14:53 MABUX Digest: Top events on global bunker market. Week 08
12:54 Milaha participates in ‘Made in Qatar 2020’ Exhibition as a Gold Sponsor
10:45 MABUX: Bunker market this morning, Feb 24
10:11 DOF Subsea posts Q4 operating income of NOK 1,349 million

2020 February 23

15:01 Great Lakes reports record full year results
14:32 AAM completes 80’ patrol vessel for the Texas Parks and Wildlife Dep't
13:37 EDS HV Group completes scope of work at Vattenfall’s HR3 wind farm
12:23 Ingeteam signs the contract with Yantai CIMC Raffles Offshore for hybrid electric propulsion system delivery of two Ro-Ro vessels
11:21 USCG, other agencies to conduct search and rescue exercise near Perdido Bay

2020 February 22

17:14 First Subsea provide Cable Protection Systems for NnG
14:48 Med Marine: Turkish-built tug equipped with SCHOTTEL bestseller
13:41 CSBA study finds U.S. dredging industry a critical component of national security
11:39 USCG Cutter Legare returns home after interdicting over 3,300 pounds of drugs
10:47 Ray Fitzgerald to rejoin Crowley as COO

2020 February 21

18:12 Digitization of KN: paper is no longer used in the operation of Klaipėda LNG terminal
17:48 NIBULON Shipyard is about to launch second non-self-propelled open type vessel
17:17 CMA CGM announces Emergency Space Surcharge from North Europe, Scandinavia & Poland to West Med, East Med, Adriatic & North Africa
16:59 New roll trailers put into operation at Bronka port
16:04 AS Tallink Grupp’s wholly-owned subsidiary AS Hansatee Cargo merged with Group’s wholly-owned subsidiary AS Tallink
15:25 Russia's Main Department of State Expertise approved adjusted design documentation under Nord Stream 2 project
15:02 OCEAN Industries orders MAN Propulsion Packages for Royal Canadian Navy tugs
14:13 Diana Shipping announces time charter contract for m/v Coronis with Koch and cancellation of the sale of a Capesize dry bulk vessel
13:01 COSCO SHIPPING Lines provides water and rail transport services
12:40 Wärtsilä LPG Fuel Supply System the first ever to undergo engine testing
12:12 ABS to class world’s largest B-Tank VLECs by Jiangnan
11:30 Coronavirus disease 2019 – IMO urges no unnecessary delays to ships
11:09 World’s first LPG-retrofit order exercises option for four additional engines
10:44 MABUX: Bunker market this morning, Feb 21
10:43 Biofouling demands collective, urgent and ‘proactive’ approach, stresses Bellona
10:09 Cod farming set for rebound as savvy investors rush to back Norcod
09:55 Bunker prices are slightly down at the port of Saint-Petersburg, Russia
09:43 GTT acquires Icelandic company Marorka, an expert in Smart Shipping