• 2019 September 20 08:58

    MABUX: Bunker Market this morning, Sept 20

    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 downward changes on Sep. 19

    380 HSFO - USD/MT 453.82 (-9.92)
    180 HSFO - USD/MT 488.58 (-10.48)
    MGO - USD/MT 680.46 (-5.54)


    Meantime, world oil indexes demonstrated upward changes on Sept.19 as Saudi Arabia tapped Iraq and others to ensure there’s no default in its fuel delivery to customers. That came just days after the kingdom declared little fallout from an attack on its energy infrastructure.

    Brent for November settlement increased by $0.80 to $64.40 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for November delivery rose by $0.02 to $58.19 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of 6.27 to WTI. Gasoil for October delivery increased by 4.75.

    Today indexes continue to rise after a Saudi-led coalition launched a military operation north of Yemen's port city of Hodeidah, as the United States worked with Middle East and European nations to build a coalition to deter Iranian threats after the Saudi attack.

    Saudi Arabia would not be stretched in meeting customer obligations, particularly after it said half of the production lost from the weekend attacks had been restored and the balance would be back by November.

    Saudi Arabia's ability to avert a global oil supply crunch will only become clear in a few weeks, because for now its crude held in storage can fill the gap and mask the scale of damage to its facilities, traders and analysts say. At the same time the Saudi state-owned Aramco Trading Co purchased diesel cargoes and also sought one-off supplies of aviation fuel this week. Moreover, Saudi Arabia asked Iraq for 20 million barrels of crude to supply domestic refineries, adding to doubts over whether the Kingdom will be able to return to full output this month following weekend attacks on key oil facilities.

    Earlier this week Saudi said production will be back to normal levels in two to three weeks, which means restoring output to about 10 million barrels per day. But many are skeptical, while the lack of transparency about Saudi inventories adds to uncertainty about whether Riyadh can keep markets supplied without disruption.


    The attacks knocked out over half of active Saudi crude production and severely limited the country's spare capacity, a cushion for oil markets in any unplanned outage. U.S. Secretary of State Mike Pompeo and officials in Riyadh said evidence showed the weapons used were fired from southwest Iran instead and blamed Iran in the attack.

    Iranian Foreign Minister Javad Zarif said Pompeo’s remarks may be aimed at deceiving President Donald Trump into going to war against Tehran. Trump has already said he had no wish to engage in a military battle with Iran. President’s remarks were interpreted as meaning that the United States would support Saudi Arabia with intelligence, targeting information and surveillance capabilities to strike back at Iran, though the U.S. itself would not fire any weapon. Trump has said there were many options short of war with Iran and has ordered the U.S. Treasury to "substantially increase sanctions" on Tehran. Zarif said that the Iranian response to a U.S. or Saudi military strike on the Islamic Republic would be "all-out war".

    Meanwhile, weekly report from the Energy Information Administration on U.S. oil inventories showed, that crude stockpiles rose by 1.1 million barrels last week against expectations for a drop of 2.5 million barrels. However, stocks at Cushing, Oklahoma, the delivery point for benchmark futures, fell to their lowest since October 2018.

    In the United States torrential rain from Tropical Storm Imelda has forced a major refinery to cut production and shut a key oil pipeline, terminals and a ship channel in Texas.
    Global markets are also keeping an eye on U.S.-China trade negotiations in Washington, as officials from both sides resumed face-to-face talks for the first time in nearly two months on Sept.19-20. The negotiations are aimed at laying the groundwork for high-level talks in early October that will determine whether the two countries are working toward a solution or headed for new and higher tariffs on each other's goods.

    We expect bunker prices to demonstrate upward changes today: about 3-5 USD up for IFO, about 4-6 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