• 2019 November 7 15:29

    MABUX: Bunker Market this morning, Nov 07

    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) demonstrated irregular changes on Nov.06

    380 HSFO - USD/MT 363.21 (-0.14)
    180 HSFO - USD/MT 406.85 (-0.63)
    MGO - USD/MT 671.29 (+0.53)


    Meantime, world oil indexes declined on Nov.6 as U.S. crude stockpiles rose more, that expected.

    Brent for January settlement decreased by $1.22 to $61.74 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for December delivery fell by $0.88 to $56.35 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $5.39 to WTI. Gasoil for November delivery declined by $2.75.

    Today indexes continue to slide down.

    U.S. oil inventories rose much more than expected last week. According to the Energy Information Administration oil stockpiles rose by 7.9 million barrels, compared with expectations for an increase of about 1.5 million barrels.

    Beijing and Washington are closing in on a phase one trade deal, although today’s reports said Beijing is trying to push the U.S. to remove more tariffs on Chinese goods as part of the deal.

    Both countries have slapped tariffs on each other's goods in a trade war that has dragged on for 16 months. On Wednesday, there was still no indication that negotiators were ready to move Presidents Donald Trump and Xi Jinping from talking phase one to the signing of the agreement
    Also weighing on oil prices today were reports that the biggest producers in OPEC+ aren’t pushing for deeper oil-supply cuts when the group meets next month.

    At the same time OPEC in this annual report said, that marine fuel regulations on sulfur that go into effect January 1 will have a less disruptive — but still considerable — impact to the oil market than previously feared. Lower expected oil demand growth, a pick-up in the pace of scrubber installations and increases in the availability of compliant fuel will mitigate some of the market stresses. Recent assessments indicate that the global refining system will have sufficient flexibility to address the changes in the maritime sector’s fuel mix. Nevertheless, the impact on high sulfur fuel oil prices, the gasoil/HSFO spread, as well as HSFO-rich crude oil prices, will still be significant, although less severe than previously expected.

    The International Maritime Organization will implement rules limiting the sulfur con. OPEC’s outlook forecasts that compliance will be about 85% in 2020, up by about 10 percentage points from last year’s outlook. Compliance will rise to almost 90% by 2024 and to eventual near full compliance.It is also expected 2,500 vessels to have scrubbers installed in 2020, eventually rising to almost 5,500 ships. OPEC estimates that marine HSFO demand will decline from 3 million b/d in 2019 to 1.2 million b/d in 2020 and then recover to about 1.5 million b/d, due to scrubber installations. Diesel demand in the bunker sector is forecast to rise to about 1.5 million b/d in 2020, from about 900,000 b/d currently. Compliant 0.5% sulfur blend fuel will see demand increase to about 1.6 million b/d in 2020, from about 300,000 b/d currently.

    The United States will target shipping companies that are in breach of sanctions and aggressively enforce measures across the globe to clamp down on such practices. In one of the biggest sanctions actions taken by the U.S. government since its crackdown on Iranian oil exports, Washington imposed sanctions on Chinese companies in late September for alleged involvement in moving crude oil from Iran. COSCO Shipping Tanker (Dalian), a subsidiary of China’s state-owned shipping group COSCO, was one of the companies blacklisted. Concern over shippers falling foul of U.S. sanctions sent oil freight costs to record highs around the world, adding millions of dollars to the cost of every voyage. Washington has also used sanctions on other countries including Venezuela and North Korea.

    We expect bunker prices to demonstrate downward changes today: 3-5 USD down for IFO, 1-3 USD down for MGO.




2019 November 17

16:12 Port of Dover wins ESPO Award 2019
14:47 Aker Solutions and leading operators join forces to qualify subsea gas separation
14:12 Wight Shipyard Co to build an innovative hybrid CTV for CWind
12:42 PSA Marine and Wartsila join hands to tackle climate emergency
11:38 A.P. Moller-Maersk improves operational profitability
10:15 ABS and Arista launch smart shipping journey

2019 November 16

16:42 Team Tankers International Ltd. announces Q3 2019 results
15:02 GasLog places NOK 900M of senior unsecured bonds due 2024
14:23 BTG and GoodFuels preparing for major investment in bio-refinery to support shipping’s low carbon fuels demands
13:41 Third L-class delivered in China
12:32 Seaspan to purchase a fleet of six containerships on long-term charter for $380 million
11:28 Mammoet inks agreement with Port of Coeymans Marine Terminal to strengthen presence along East Coast
10:18 Metal Sharks delivers pilot boat duo to BCMT

2019 November 15

18:09 Coast Guard medevacs cruise ship Aida Perla passenger just off Ponce, Puerto Rico
17:48 Sovcomflot reports its results for third quarter and nine months of 2019
17:23 Wärtsilä and PSA Marine collaborate to achieve clean energy shipping
17:15 Bollinger Shipyards contracted to build ocean transport barge
17:00 Composit supports 7th International Forum of Dredging Companies as its Sponsor
16:57 Ulstein unveils its concept of the first hydrogen powered offshore vessel
16:36 RF Government separates positions of Deputy Transport Minister and head of Rosmorrechflot
16:14 IMO holds training on impacts of anti-fouling systems and ships’ biofouling on marine environment
15:39 Norway boosts IMO's GreenVoyage-2050 GHG project
15:11 New Wärtsilä Expertise Centre provides value-adding lifecycle support
14:57 LUKOIL commissions phase three facilities at Filanovsky field
14:30 NSR cargo traffic totaled 26 million tonnes year-to-date, up 63.5% YoY
14:13 Georgia Ports Authority up 3.5 percent to 428,400 TEU in October 2019
13:13 Diana Shipping announces direct continuation of time charter contract for m/v Medusa with Cargill
12:51 Multipurpose Reloading Complex reports 4-fold increase of allocations for environment protection to RUB 11.5 million
12:32 ABI Research: Commercial fleets looking to tech to accelerate ROI in the face of rising costs, competition, and uncertainty
12:13 Port of Oakland names Danny Wan Executive Director
11:28 ESL Shipping participates in Intelligence Hunt
11:00 CMA CGM to apply GRI from Canada West Coast to worldwide destinations (Excluding EU, Russia & USA)
10:41 Delft Dynamics, Next Ocean and Damen perform qualification test in North Sea
10:40 Gremyashii corvette of RF Navy’s Nothern Fleet to be tested in White Sea
10:16 Training ship Perekop of RF Navy's Baltic Fleet arrives in Republic of Myanmar
09:54 Bunker prices go down at the port of Saint-Petersburg, Russia (graph)
09:39 MABUX: Bunker market this morning, Nov 15
09:32 Brent Crude futures price is up 0.45% to $62.56, Light Sweet Crude – up 0.51% to $57.06
09:13 Baltic Dry Index is up to 1,364 points

2019 November 14

18:19 French Prime Minister Edouard Philippe inaugurates CEVA Logistics’ new headquarters in Marseille
18:00 Boosting handling of cargo bound for Arctic considered as strategic development vector of Murmansk Commercial Seaport
17:41 Port of Liepaja (Latvia) handled 5.92 million tonnes of cargo in 10M'2019, down 5.1% Y-o-Y
17:20 Gasunie, EBN, Port of Amsterdam and Tata Steel work together on the development of a CCUS project in the North Sea Canal area
16:49 Hung Hua Construction of Taiwan orders third Fast Crew Supplier this year to support offshore wind ambitions
16:36 Main engines loaded onto second serial ship of PV22 project at Nevsky Shipyard
16:15 Hapag-Lloyd announces rates from East Asia to North Europe and Mediterranean
15:59 Yevgeny Savkin appointed as General Director of Novyie Kommunalnyie Tehnologii in Ust-Luga port
15:15 The ICS and ECSA call for immediate and effective intervention after yet another attack in the Gulf of Guinea
15:12 Restoration of 90 year old Amsterdam bridge by Niron Staal
14:43 Expert forecasts scrubbers to consume some 600,000 barrels of heavy fuel per day in 2020
14:14 Norway boosts IMO's GreenVoyage-2050 GHG project
13:32 Sea Port of Saint-Petersburg invested RUB 630 million in development in 9M’19, up 53% YoY
13:11 MOL earns AIP for design of bow wind-shield, ultra-large containership
12:30 Bunker prices are flat at the Far East ports of Russia (graph)
12:04 CMA CGM announces FAK rates from Asia to the Middle East Gulf
11:23 Aleksey Rykovanov appointed as General Director of Murmansk Commercial Seaport
11:01 Arista Shipping starts the path to smart shipping operations with an ocean data agreement with ABS
10:39 RF Government supports expansion of Murmansk Transport Hub capacity to 65 million tonnes by 2035
10:16 MABUX: Bunker market this morning, Nov 14
10:02 WesCom Signal and Rescue goes green at METSTRADE 2019