• 2019 September 18 08:56

    MABUX: Bunker Market this morning, Sept 18

    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) continued sharp upward changes on September 17.

    380 HSFO - USD/MT 476.07 (+43.11)
    180 HSFO - USD/MT 513.73 (+40.22)
    MGO - USD/MT 697.43 (+21.45)


    Meantime, world oil indexes demonstrated downward changes on Sept.17 Saudi Arabia declared, the kingdom will restore lost oil production by the end of the month.

    Brent for November settlement decreased by $4.47 to $64.55 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for October delivery fell by $3.56 to $59.34 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of 5.21 to WTI. Gasoil for October delivery decreased by 17.25.

    Today indexes demonstrate slight downward changes.

    Saudi Arabia saying output was recovering much more quickly than initially forecast and could be fully back in two or three weeks. Full capacity of 12 million barrels per day would be back at the end of November, while 11 million barrels will be restored by the end of the month.

    International oil companies, fellow members of the OPEC oil cartel and global energy policy makers had heard no updates on the impact of the weekend attack from the Saudis for 48 hours, according to sources with knowledge of the situation. And on Monday, sources briefed on state oil giant Aramco's operations had said it could take months for output to recover.

    The attack knocked out half of Saudi Arabia's oil production, or 5% of global output, sending prices soaring when trading resumed on Sept.16. So the new prediction of a quick return to normal output sent prices down sharply on Sept.17.

    While the Houthi group, which is fighting a Saudi-led coalition in Yemen, was quick to claim responsibility for the attack, U.S. believes the attacks originated in southwestern Iran. That further increases tension in the Middle East. Moreover some said the attacks involved cruise missiles and drones, indicating that they involved a higher degree of complexity and sophistication than initially thought. At the same time nobody provided evidence or explain what U.S. intelligence they were using for the evaluations. At the same time, Saudi state television said the Saudi Defense Ministry will hold a media conference on Sept. 18 that will show evidence of Iran's involvement in the Aramco attacks, including the use of Iranian weapons. Iran denied it was to blame. That accusation prompted Iran's supreme leader on Sept.17 to rule out talks with Washington.

    Iran’s leader Ayatollah Ali Khamenei said talks could only take place if the United States returned to a nuclear accord between Iran and the West that Trump abandoned last year.
    U.S.-Iran relations deteriorated after Trump quit the accord and reimposed sanctions over Tehran's nuclear and ballistic programs. He also wants Iran to stop supporting regional proxies, including the Houthis.

    Britain and Germany agreed they needed to work with international partners to form a collective response and de-escalate tensions as efforts continued to establish exactly what. The European parties are trying to salvage Iran nuclear pact. Saudi Arabia, which has supported tougher U.S. sanctions on Iran, said an initial investigation showed the strikes were carried out with Iranian weapons.

    While the lack of escalation is capping the geopolitical risk premium currently embedded in prices, the attacks have raised profound questions about the vulnerability of Saudi Arabia’s energy system, which could in turn lead to structurally higher risk premiums in future.

    U.S. President Donald Trump said on Sept.17 his administration could seal a deal on trade with China before the U.S. presidential election, or an agreement could be reached the day after. Trump claimed that Beijing thinks he is going to win re-election, but that Chinese officials would prefer to deal with someone else. He said he had told China that if the deal comes after the Nov. 3, 2020 election, it would be on terms "far worse" for Beijing than it could achieve right now.

    The American Petroleum Institute said Sept. 17 that U.S. stockpiles rose by about 600,000 barrels last week. They dropped by 7.2 million barrels the week before.

    We expect bunker prices to demonstrate downward changes today: about 15-20 USD down for IFO, about 15-17 USD up for MGO.




2019 October 20

16:05 EDPR and Aker Solutions to develop 500MW floating wind farm in Ulsan, South Korea
15:25 Coast Guard updates port conditions in Gulf Coast region
14:47 Siemens Gamesa bags three new contracts for 359 MW in Chile
13:41 Fincantieri begins project for stretching three small cruise ships of Windstar
12:34 MSC introduces new Spanish rail service for reefer cargo
11:03 USCG, Mexican Navy search for overdue aircraft in Gulf of Mexico
10:12 DOE authorizes LNG exports from the Venture Global Plaquemines LNG Project

2019 October 19

16:12 Bibby Marine appoints Helen Samuels to lead the company into its next phase of development
14:58 Med Marine is building new concept ice class tugs for Svitzer
12:34 Sohar Port & Freezone inaugurate new Svitzer pilot boat duo
11:44 USCG offloads more than $92 million worth of cocaine in San Diego
10:49 Singapore company slapped with NOK 7 million fine in the Harrier case

2019 October 18

19:19 New port icebreaker named Ob delivered to FSUE Atomflot
18:54 Port Kolomna hosted ceremony of consecration for pusher tug named Sergey Kladko
18:31 RF Ministry of Transport to expand area banned for navigation near Crimea bridge
18:12 Northwest Seaport Alliance’s Clean Truck Program earns AAPA environmental award
17:57 NUTEP Container Terminal handled three millionth TEU since its operations started in 2004
17:38 Expert RA affirms its ‘ruA’ non-financial company credit rating on DeloPorts
17:13 Port of Virginia buys 25 new hybrid shuttle carriers
17:00 First grain shipment via Sabetta port expected in July 2020 – RF Ministry of Agriculture
16:46 Onezhsky Shipyard delivers buoy tender of Project 3265 named Ladozhsky
16:20 ERMA FIRST invests in METIS Cyberspace Technology
15:45 International organizations unite at IMO
15:14 "K" LINE, MOL, & NYK share data with ONE through the common data platform "IoS-OP"
14:49 Main engines loaded onto lead ship of PV22 project at Nevsky Shipyard
14:12 ESPO publishes European port sector’s Environmental Report 2019
13:53 Blagoveshchensk shipyard resumed construction of modernized seiners of Project 1338
13:32 Total launches its first LNG bunker vessel
13:12 SBM Offshore successful bidder for partner’s minority ownership in SBM Offshore operated FPSO companies
12:54 BIMCO submits proposals to IMO to enhance exchange and harmonization of data
12:31 MSC rules out Arctic exploration on environmental concerns
12:01 British Ports Association publishes new assessment of business environment ahead of annual conference in Belfast
11:30 Port of Antwerp volume up 1.1% in September 2019
11:05 DNV GL awards AiP certificates to HHI for three types of standard mid-sized FPSOs
10:37 RF Navy’s cruiser Marshal Ustinov completes business call to Cyprus
10:03 Hapag-Lloyd announces GRI from East Asia to East Coast South America
09:54 Bunker prices are flat at the port of Saint-Petersburg, Russia (graph)
09:36 Baltic Dry Index is down to 1,861 points
09:18 Brent Crude futures price is down 0.50% to $59.61, Light Sweet Crude – down 0.13% to $53.86
09:01 APM Terminals launches global customer alerts solution
08:42 MABUX: Bunker Market this morning, Oct 18
08:05 MOL introduces AR Navigation System at Maritime Conference in Dubai
07:52 The European shipping industry urges the EU to bolster maritime security in the Gulf of Guinea

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