• 2019 November 11 09:47

    MABUX: Bunker market this morning, Nov 11

    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) declined on Nov 08:

    380 HSFO - USD/MT - 351.58 (-4.98)
    180 HSFO - USD/MT – 393.61 (-4.76)
    MGO - USD/MT – 664.46 (-3.17)


    Meantime, world oil indexes continued irregular changes on Nov.08 following comments from U.S. President Donald Trump that he has not agreed to roll back tariffs on China

    Brent for January settlement increased by $0.22 to $62.51 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for December delivery rose by $0.09 to $57.24 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $5.27 to WTI. Gasoil for November delivery lost $6.75.

    Today morning oil indexes demonstrate slight downward evolution.

    The 16-month trade war between the world’s two biggest economies has slowed economic growth around the world and prompted analysts to lower forecasts for oil demand, raising concerns that a supply glut could develop in 2020.

    Donald Trump told reporters he has not agreed to roll back tariffs on China but that Beijing would like him to do so. The comments came after officials from both countries said China and the United States have agreed to roll back tariffs on each others’ goods in a “phase one” trade deal if it is completed. However, the plan faces stiff internal opposition in the U.S. administration, and U.S. officials have signaled opposing views on the status of talks.

    Moreover, Trump said on Saturday that trade talks with China were moving along "very nicely," but the United States would only make a deal with Beijing if it was the right one for America.
    Underlining the impact of the trade war, data over the weekend showed that China's producer prices fell the most in more than three years in October, as the manufacturing sector weakened, hit by the dispute and declining demand.

    Oil prices have also been under pressure since OPEC Secretary-General Mohammad Barkindo said that he was more optimistic about the outlook for 2020, appearing to downplay any need to cut output more deeply. A deal between the Organization of the Petroleum Exporting Countries and its allies, such as Russia, will limit supplies until March next year. The producers meet Dec. 5-6 in Vienna to review that policy.

    At the same time, it is forecasted, that even if a partial agreement between U.S. and China is reached, the impetus for demand will not be enough to avoid an oversupply next year, meaning that OPEC will still need to make bigger production cuts. From the other side, OPEC and its partners will probably keep output steady when they meet next month as markets are on track to re-balance

    OPEC’s crude oil production jumped by 1.26 million barrels per day from a decade-low in September to 29.71 million bpd in October, as Saudi Arabia restored its production to levels before the attacks on its oil facilities in mid-September Accoerding to Platts and REUTERS. Saudi Arabia’s oil production jumped by 1.35 million bpd to 9.8 million bpd in October, as it appears to have fully recovered output after the September 14 attacks on vital oil infrastructure that took 5.7 million bpd—or 5 percent of global daily supply—offline. Despite the production recovery, the Saudis continue to overcomply with the OPEC+ deal by more than 500,000 bpd. OPEC’s official production figures for October are due out in its monthly report on November 14.
    At the same time, U.S. energy firms this week reduced the number of oil rigs operating for a third week in a row. Drillers cut 7 rigs in the week to Nov. 8, bringing the total count down to 684, the lowest since April 2017.

    According to the new rules by the International Maritime Organization (IMO), only 0.5-percent or lower sulfur fuel oil should be used on ships beginning January 1, 2020, unless said ships have installed the so-called scrubbers—systems that remove sulfur from exhaust gas emitted by bunkers—so they can continue to use high-sulfur fuel oil (HSFO). However, supply of compliant low-sulfur fuel could be just as sufficient, while demand may be subdued, due to the global economic and trade growth slowdown and at least some non-compliance from shippers, which analysts at Wood Mackenzie put at around 10 percent for 2020.Russia is one of the countries set to delay the IMO rules implementation, but only in its territorial waters including rivers, Energy Minister Alexander Novak said, responding to questions sent by Bloomberg. Russia will still comply with the rules in international waters. Due to its predominantly high-sulfur oil, Russia is set to be one of the biggest losers in the new marine fuel rules.

    We expect bunker prices may demonstrate irregular changes today:1-3 USD up for IFO, 4-6 USD down for MGO.




2019 December 8

16:47 ABS and CINS facilitate development of risk-based approach to minimize risk of container fires
15:32 Sea Machines & HamiltonJet collaborate to merge capabilities of autonomous control and jet propulsion systems
14:46 GWS installing turbines at Northwester 2 Offshore Wind Farm
13:22 Norsepower collaborates with SWS for cost and energy efficient VLCC designs
12:14 Grieg Star adds 64000dwt bulk cargo carrier to its fleet
11:05 ABS grants AIP for first Jones ACT SOV

2019 December 7

16:55 USCG Cutter Steadfast returns to port after 60-day counter drug patrol
15:42 TEN announces charter extension for an LNG carrier
13:08 FMT and Indian Register of Shipping sign MOU on strategic cooperation
11:34 AET secures long-term DPST charter contracts with Shell
10:37 Titan LNG tenders for 8000 cbm LNG bunker barge

2019 December 6

18:11 Lithuania aims to ensure state management of „Rail Baltica“ infrastructure
17:55 More operative services of towboats in the Port of Klaipėda
17:28 Acceptance/delivery certificate for Kalas, first rescue tugboat of Project MPSV12
17:06 APM Terminals Gothenburg takes another major step in their journey towards climate neutrality
16:04 Damen Shiprepair Amsterdam MD receives Harbour Medal
15:57 Northern Sea Route cargo traffic totaled 27.59 million tonnes YTD, up almost 70% Y-o-Y
15:26 IAPH Women’s Forum’s initiative “Women in Ports Mentoring Program” now extended to female Harbour Masters
15:03 Seabourn brings a new experience to guests with unique “Bow Lounge”
14:22 Throughput of port Ventspils (Latvia) in 11M’19 grew by 4% to 19.47 million tonnes
14:03 The container terminal at the Port of Gothenburg to be fossil-free by 2020
13:05 Carnival Corporation's Costa Cruises welcomes LNG-powered Costa Smeralda to fleet
12:54 Yacht Zarya with Russian team wins ARC+St.Vicent 2019
12:23 UN maritime agency commits to further action on gender equality
12:01 Jan De Nul sets new sustainability standards for maintenance dredging works in the marinas of Nieuwpoort on the Belgian coast
11:30 Canada Infrastructure Bank invests $300 million in Port of Montreal’s expansion project in Contrecoeur
11:20 Costa Smeralda delivered from Meyer Turku shipyard
11:02 Yang Ming sets up subsidiary in China
10:45 Largest Latvian transit companies represented at 2019 Russian Transport Week
10:17 GTT receives an order from Samsung Heavy Industries for the tank design of two new LNG Carriers
10:12 Joint Russian-Vietnamese exercise underway in Cam Ranh
09:59 MAN Energy Solutions and Orcan Energy agree to collaborate
09:49 Bunker prices go down at the port of Saint-Petersburg, Russia (graph)
09:36 MABUX: Bunker market this morning, Dec 06
09:30 Brent Crude futures price is down 0.44% to $63.11, Light Sweet Crude – down 0.33% to $58.23
09:14 Baltic Dry Index is down to 1,575 points
08:31 DNV GL awards Hudong-Zhonghua AiP certificate for gas-fueled 25000 TEU containership design

2019 December 5

18:05 ABS, MAN & SDARI join forces to develop ammonia-fueled feeder vessel
17:46 Throughput of Rostov-on-Don port in 11M’19 fell by 7% Y-o-Y to 21.1 million tonnes
17:21 Extraordinary general shareholders meeting of LUKOIL approves interim dividend
17:05 NORDEN enters new biofuel collaboration with Kvasir Technologies
16:28 Cargo traffic on Northern Sea Route can grow to 160 million tonnes by 2035 – Aleksandr Krutikov
16:05 ABS and CATL sign battery research agreement
15:54 Port of HaminaKotka published its statistics for November 2019
15:30 Ministry for Development of Russian Far East and Arctic expects special economic regime to come into force in Arctic in 2020
15:03 DNV GL and Huangpu-Wenchong sign JDP on 5,000 TEU LNG dual-fuel containership
14:49 Global project launched to tackle plastic litter from ships and fisheries
14:33 IMO Assembly approved renewal of Kitack Lim’s appointment as secretary-general of UN body
14:06 Torqeedo powers all-electric harbour water clean-up boat
13:06 YILPORT Puerto Bolívar now operates with four mobile harbor cranes
12:44 Bunker prices increase at the Far East ports of Russia (graph)
12:25 Norfolk, Virginia to host Port & Terminal Technology USA on 21-22 April 2020
12:17 MABUX: Bunker market this morning, Dec 05
12:08 Inmarsat launches Fleet LTE service in the North Sea
11:50 Forum «Arctic: Today and the Future» kicked off in Saint-Petersburg
11:29 “K” Line completes additional development (Phase-2) of “Kawasaki Integrated Maritime Solutions”
11:05 PIL upgrades Redsea Gulf Service and Intra-Redsea Feeder 5
10:37 DNV GL and GSI cooperate on AI-based solution to improve welding NDT efficiency
10:01 Bunker sales at port Vladivostok in 11M’19 grew by 53.2% to 1.58 million tonnes
09:36 Brent Crude futures price is down 0.1% to $62.94, Light Sweet Crude – down 0.38% to $58.2