• 2019 November 8 09:28

    MABUX: Bunker market this morning, Nov 08

    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) changed insignificant and irregular on Nov.07:

    380 HSFO - USD/MT - 355.24 (-7.97)
    180 HSFO - USD/MT – 395.83 (-7.02)
    MGO - USD/MT – 667.85 (-3.44)


    Meantime, world oil indexes demonstrated irregular changes on Nov.07 after China hinted at progress toward a trade deal with the United States, raising hopes for an end to a long dispute that has weighed on economic growth and demand for fuel.

    Brent for January settlement increased by $0.55 to $62.29 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for December delivery rose by $0.80 to $57.15 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $5.14 to WTI. Gasoil for November delivery lost $3.50.

    Today morning oil indexes have turned into slight downward evolution.

    China said on Nov.07 that it had agreed with the United States for both sides to remove tariffs in phases, without specifying a timetable. A deal may be signed this month by U.S. President Donald Trump and Chinese President Xi Jinping at a yet-to-be determined location. The trade dispute has prompted the market to lower forecasts for oil demand and raised concerns that a supply glut could develop in 2020.

    Iran has stepped up activity at its underground Fordow nuclear plant: a move France said showed for the first time that Tehran explicitly planned to quit a deal with world powers that curbed its disputed nuclear work. In another development that could also aggravate tensions between Iran and the West, Iran briefly held an inspector for the U.N. nuclear watchdog and seized her travel documents. Iran said the inspector was prevented from entering the Natanz facility because of a concern she might be carrying "suspicious material". Besides, Iran's decision to inject uranium gas into centrifuges at Fordow, a move that further distances Iran from the accord, was described by Moscow as extremely alarming.

    Iraqi security forces shot dead at least four protesters in central Baghdad on Nov.07. Mass demonstrations continued for a 13th straight day with thousands thronging central areas of the capital. The country is beginning to feel the fiscal pinch of weeks of the unrest, which started in Baghdad and quickly spread to southern cities. It was reported that oil production and exports have not been significantly affected by the unrest. But the halting of fuel tankers that transport fuel from the Nassiriya refinery to regional gas stations caused fuel shortages across the southern Iraqi province of Dhi Qar. The refinery had recently been producing around half its capacity. The further escalation may set up momentum upward driver for fuel indexes.

    Venezuela’s state-held oil firm PDVSA has cut its outstanding debt to the largest Russian oil producer, Rosneft, to below US$1 billion. Rosneft has extended 6 billion USD of loans to PDVSA, which needs to be fully redeemed through crude oil supplies by the end of this year. Debt as at September 30, 2019, had dropped to 800 million USD, down from US$1.1 billion as at the end of the second quarter this year. As per U.S., Russia’s Rosneft is “really central to the regime’s survival,” because it buys the oil Venezuela produces and helps it to sell the oil and arrange the financing. The U.S. Administration is thinking about slapping sanctions on Rosneft, but it hasn’t done it yet, as it is looking at a broader context in its relations with Russia.

    Brazil may be able to produce in the future as much as 7 million barrels of oil per day (bpd). The South American oil producer, which currently pumps 3 million bpd of crude oil, could further consolidate its global position as an exporter of commodities. Production in Brazil is rapidly growing thanks to start-ups of new offshore oil fields. Total liquids production increased by 480,000 bpd year on year to 3.10 million bpd in August—a record high. The OPEC estimates that Brazil will be the second-largest contributor to non-OPEC supply growth this year and next, after the United States. Brazil, like the United States, is not part of the OPEC+ coalition that currently restricts production hoping to draw down global oversupply.

    We expect bunker prices may demonstrate irregular changes today in a range of plus-minus 3-5 USD.




2019 November 18

13:15 MacGregor secures complete piggy-back hatch cover order from Fincantieri Bay Shipbuilding
12:53 Vympel Shipyard delivers Grachonok-class special purpose boat to Federal National Guard Troops Service
12:32 Average wholesale prices for М-100 HFO down to RUB 8,159 in RF spot market
12:09 Kim Heng signs MoU with subsea cable installer for offshore windfarm cable-laying projects in Taiwan
11:51 New national port operator WT Terminal established in the Freeport of Riga
11:09 Stena Line takes delivery of new ferry Stena Estrid
10:54 Series of eighth dry cargo carriers of Project RSD32M completed with delivery of Anatoly Nikolayev
10:33 Bunker sales at the port of Singapore in Jan-Oct’2019 fell by 6.4% Y-o-Y to 38.92 million tonnes
10:19 MABUX: Bunker market this morning, Nov 18
10:15 Port of Singapore throughput in Jan-Oct’2019 declined by 0.6% to 520.7 million tonnes
09:52 DEME and Royal IHC launch TSHD MEUSE RIVER
09:34 Brent Crude futures price is flat at $63.3, Light Sweet Crude – at $57.83
09:32 IMO's working group agrees National Action Plans – draft MEPC resolution
09:20 Baltic Dry Index is down to 1,357 points

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