• 2019 September 10 08:26

    MABUX: Bunker Market this morning, Sep 10

    MABUX World Bunker Index (consists of a range of prices for 380 HSFO, 180 HSFO and MGO (Gasoil) in the main world hubs) continued upward changes on Sep. 09

    380 HSFO - USD/MT 385.32 (+8.18)
    180 HSFO - USD/MT 427.90 (+6.63)
    MGO - USD/MT 652.80 (+0.12)


    Meantime, world oil indexes demonstrated upward evolution on Sept. 09 after Saudi Arabia, the world's largest exporter of crude, named Prince Abdulaziz bin Salman as its new energy minister.

    Brent for November settlement increased by $1.05 to $62.59 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for October delivery rose by $1.33 to $57.85 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of 4.74 to WTI. Gasoil for September delivery increased by 16.75.

    Today indexes continue to rise amid optimism that OPEC and other countries may agree to extend production cuts in a bid to support prices.

    Prince Abdulaziz, son of Saudi King Salman and a long-time member of the Saudi delegation to the Organization of the Petroleum Exporting Countries, replaced Khalid al-Falih on Sep.08. Price Abdulaziz helped to negotiate the current agreement on supply cuts between OPEC+ and has been instrumental in cementing that cooperation. He said that the Saudi policy would not change and that the OPEC+ deal would survive.

    Prices were also supported by comments from Mazrouei that OPEC and its allies were committed to balancing the crude market.

    Russia's oil output in August exceeded its quota under the OPEC+ agreements to cut 1.2 million barrels per day. OPEC oil output rose in August, gaining for the first month this year as higher supply from Iraq and Nigeria outweighed restraint by Saudi Arabia and losses caused by U.S. sanctions on Iran, a Reuters survey found. The OPEC+ deal's joint ministerial monitoring committee will meet on Thursday, Sept.12 in Abu Dhabi.

    Oil indexes were also supported by a rise in oil imports in China in August, with shipments to the world's biggest importer up 3% from July and nearly 10% higher in the first eight months of 2019 from a year earlier.

    In the United States, drilling companies cut the number of operating oil rigs for a third week in a row last week.

    Iraq is committed to reducing oil production in line with OPEC and non-OPEC cuts, and will begin drawing down output as of October. Iraq needed to raise production over the summer months to meet domestic demand. Output will decline in the next few months because of lower domestic demand and the beginning of refinery maintenance. Iraq, OPEC’s second-biggest producer, has always pumped more than its commitment to the cuts.

    The Iranian oil tanker Adrian Darya 1 at the center of a dispute between Tehran and Western powers has been photographed by satellite off the Syrian port of Tartus. There is an image shows the tanker Adrian Darya 1 very close to Tartus on Sept. 6. The tanker, which is loaded with Iranian crude oil, sent its last signal giving its position between Cyprus and Syria sailing north on Monday. Washington has warned any state against assisting the ship, saying it would consider that support for a terrorist organization, namely, Iran’s Islamic Revolutionary Guard Corps. The U.S. Treasury Department blacklisted the tanker on Sep.6.

    We expect bunker prices to demonstrate upward changes today: about 3-5 USD up for IFO, about 13-15 USD down for MGO.




2019 September 20

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
17:48 Russia’s Rosmorrechflot and Ministry of Industry and Trade develop preferential leasing programme
17:30 Vympel DB develops concept design for Arctic cruise ship
17:22 Metal Shark delivers new foil-assisted catamaran excursion vessel to Pure Florida
17:11 US Coast Guard shifts response efforts in Bahamas
17:03 ECSA considers the European State Aid Guidelines for maritime transport highly successful and key to maintaining a strong European shipping sector
16:39 Vigor hosts keel-laying ceremony for the U.S. landing craft MSV(L)
16:21 Vitol announces long-term LNG time charter contract with H-Line
16:03 Despite some positive indicators, concerns remain for offshore energy underwriters, reports IUMI
15:42 Wärtsilä Denmark joins Digitalisation in Shipping: Europe 2019 as Associate Partner
15:24 USCG ends search for migrants of capsized vessel off Martinica Beach
15:03 GTT receives an order from HHI & SHI for the tank design of six Very Large Ethane Carriers
14:50 FSUE Atomflot develops project on construction of 7MW icebreaking tugboat
14:33 Hapag-Lloyd to increase rates from North East Asia to Australia
14:16 Wärtsilä simulators provide advanced training at newly inaugurated Portuguese facility
14:14 Ørsted contracts Van Oord for cable installation at Greater Changhua offshore wind farms
14:12 GTT obtains Approval in Principle for Arc7 ice class ships from Russian Maritime Register of Shipping
14:03 ABS and Samsung Heavy Industries sign digital technology