• 2019 September 17 08:56

    MABUX: Bunker market this morning, Sept 17

    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) jumped up on Sep.16:

    380 HSFO - USD/MT – 432.96 (+31.06)
    180 HSFO - USD/MT – 473.51 (+29.59)
    MGO - USD/MT – 675.98 (+21.12)


    Meantime, world oil indexes surged on Sep.16 after an attack on Saudi Arabian oil facilities on Sep.14 shut in the equivalent of 5% of global supply.

    Brent for November settlement increased by $8.80 to $69.02 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for October delivery rose by $8.05 to $62.90 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $6.12 to WTI. Gasoil for October jumped by $60.25.

    Today morning oil indexes have turned into slight downward correction.

    The attack on the state-owned producer Saudi Aramco's processing facilities at Abqaiq and Khurais has cut output by 5.7 million barrels per day. The company has not given a timeline for the resumption of full output. It is expected that Saudi Arabia's oil exports will continue as normal this week as the kingdom taps into stocks from its large storage facilities. However, the return to full oil capacity could take weeks. Some sources said that the attack on Saudi Arabia's plants, including the world's biggest petroleum-processing facility at Abqaiq, came from the direction of Iran, and cruise missiles may have been used. Initial reports indicated the attack came from Yemen.

    U.S. President Donald Trump said that the United States was "locked and loaded" for a potential response to the attack on Saudi Arabia's oil facilities. Trump also authorized the use of the U.S. emergency oil stockpile to ensure stable supplies after the attack. As per U.S., there was no evidence the attack came from Yemen, where a Saudi-led coalition has been battling the Houthis for over four years in a conflict widely seen as a proxy war between Saudi Arabia and Shi'ite Muslim rival Iran.  Tensions between Washington and Tehran were already running high because of a long-running dispute between the two nations over Iran's nuclear program that led the United States to impose sweeping sanctions.

    The U.S. and China are trying to ease tensions in an effort to head off another escalation in the trade war. Over the last week, both Washington and Beijing offered gestures of good will, delaying tariffs and exempting certain products from those levies. China announced a delay in tariffs; President Trump responded by pushing off planned tariffs by two weeks. The easing of trade tensions helped to boost U.S. agricultural prices, which will be highly welcomed news to American farmers. It was also suggested that the “mini deal” is possible, one that likely would consist of Chinese purchases of U.S. commodities and pledges to protect U.S. intellectual property, in exchange for tariff relief.

    The International Energy Agency (IEA) said rising U.S. shale oil and gas production has turned the United States into the world’s largest oil and gas producer, which in turn has changed the entire energy landscape both in America and abroad. U.S. crude oil exports have soared since the ban was lifted at the end of 2015, to reach 3.159 million bpd on average in June 2019. The EIA’s estimates from last month showed that petroleum and natural gas production in the United States jumped by 16 percent and 12 percent, respectively, in 2018, setting new production records and placing the United States as the world’s single largest producer of oil and natural gas.

    Shipping companies have become increasingly reluctant to supply Venezuela with vessels to ship its crude oil to foreign markets for fear of losing their insurance. As a result of this, Venezuela has resorted to using smaller but more expensive vessels to ship its crude abroad. The latest round of the U.S. sanctions was signed in August and they spread to anyone doing business with the Maduro government. Following the signing of the order for the sanctions, the Shipowners’ Club told its members to “exercise caution” in their dealings with Venezuela.

    We expect bunker prices may continue upward evolution with gradual slowdown today in a range of plus 8-12 USD.




2019 October 17

18:12 World's first emission-free push boat “Elektra” to have SCHOTTEL propulsion units
17:47 Five vessels call at the port of Brussels to show technological solutions to cut CO2 and air emissions
17:45 Nexans celebrates the next step in the construction of its Aurora cable installation vessel
17:43 Lotos shipyard delivers non-self-propelled cargo pontoon of Project GRPN
17:41 DFDS takes delivery of third Chinese-built RoRo
17:19 RroZero rolls out new 12m Site-Management boat for fish farming markets
16:14 North Sea Port offers online liner services
15:50 Ships detachment of RF Navy’s Pacific Fleet arrive on business call to Kingdom of Thailand
15:26 Maldives received maritime security training from IMO on the ISPS Code
15:02 Maritime policy for sustainable development was in focus of IMO national workshop in Chile
14:37 IMO workshop helps put maritime development in Africa’s mainstream
14:11 VT Halter Marine launches first US-flagged offshore LNG bunker ATB barge for Q-LNG
13:25 Bunker prices are flat at the Far East ports of Russia (graph)
13:01 Port of Oakland container volume up 3.1 percent in September 2019
12:41 Thordon to supply propeller shaft bearings for MSC Cruises' third Seaside class cruise ship
12:08 Oboronlogistics launched new shipping line linking ports of Novorossiysk, Tartus, Alexandria and Samsun
11:39 NIBULON MAX made her first cargo trip
11:00 Port of Long Beach posts cargo volume of 707,000 TEUs in September 2019
10:44 Air quality measures make impact at Port of Southampton
10:23 ABP held its annual oil spill exercise on the Humber
10:02 LUKOIL BoD recommends interim dividend amount
09:40 Brent Crude futures price is down 0.67% to $59.02, Light Sweet Crude – down 0.84% to $52.91
09:21 MABUX: Bunker market this morning, Oct 17
09:18 Baltic Dry Index is down to 1,897 points
09:04 BOA awarded contracts to charter two vessels for the state’s emergency response preparedness
08:39 LLOG Exploration orders subsea trees for the Shenandoah Project in the deepwater Gulf of Mexico

2019 October 16

18:37 Damen partners with TCS for increased vessel connectivity
18:07 AET christens two of the world's first LNG dual-fuel DPSTs to be chartered out to Norway's Equinor
17:35 PSA Marine signs frame agreement with Hydroniq Coolers
17:22 MODEC awarded Letter of Intent by Petrobras related to Marlim 1 FPSO
16:57 Throughput of port Kaliningrad in Jan-Sep’2019 fell by 21% Y-o-Y to 8.45 million tonnes
16:22 IBM boards the Mayflower Autonomous Ship project
16:22 Throughput of port Vysotsk in Jan-Sep'2019 climbed by 4% Y-o-Y to 14.27 million tonnes
15:58 Patrol ship of RF Navy’s Black Sea Fleet to take part in events dedicated to anniversary of Navarino battle
15:35 Navios Maritime Partners announces repayment of its Term Loan B
15:19 Throughput of port Primorsk in Jan-Sep’2019 grew by 18% Y-o-Y to 46.93 million tonnes
14:53 Port of Ust-Luga handled 77.49 million tonnes in 9M’19, up 7% Y-o-Y
14:34 NEPTUN WERFT holds keel laying ceremony for AIDAcosma
14:06 Throughput of Port St. Petersburg in Jan-Sep'2019 grew by 2% Y-o-Y to 44.97 million tonnes
13:45 Zvezda shipyard lays down fourth Aframax tanker for Rosnefteflot
13:20 Carnival Cruise Line to add fourth ship in Galveston
12:12 Hapag-Lloyd to apply a Peak Season Surcharge from North Europe to East Asia
11:51 WMU and AHHIC cooperate on marine insurance
11:33 Gazprom Neft establishes a Singapore subsidiary company to develop its international marine lubricants business
11:20 Intensive training on port management and efficiency held in France
10:57 IMO visited United Kingdom to assess country's implementation of special maritime security measures
10:14 LUKOIL enters Ghasha project for extraction of hydrocarbons in UAE
10:01 MPA of Singapore to strengthen collaboration on cyber resilience and response at the 5th Port Authorities Roundtable
09:59 APM Terminals Gothenburg to double rail volumes by 2022
09:52 Brent Crude futures price is up 0.19% to $58.85, Light Sweet Crude – up 0.13% to $52.88
09:36 Baltic Dry Index is down to 1,898 points
09:18 Bunker prices are flat at the port of Saint-Petersburg, Russia (graph)
08:43 Award-winning yachts honored at Cannes - Azimut, Benetti, and Galeon
08:35 MABUX: Bunker Market this morning, Oct 16

2019 October 15

18:37 MOL conducts tabletop drill based on an incident simulation involving containership
18:07 Fincantieri announces delivery of the fourth Royal Princess class ship at the Monfalcone shipyard
17:55 Tatarstan and Gazprom sign action plan for implementation of pilot project on using LNG powered ships
17:36 Keppel delivers fourth jackup rig to Borr Drilling
17:06 Maritime and Port Authority of Singapore revokes Inter-Pacific Petroleum Pte Ltd’s bunker craft operator licence
16:49 Hudson Shipping Lines joins the Trident Alliance as a member