• 2019 November 12 10:23

    MABUX: Bunker market this morning, Nov 12

    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) slightly decreased on Nov.11:

    380 HSFO - USD/MT – 349.19 (-2.39)
    180 HSFO - USD/MT – 390.79 (-2.82)
    MGO - USD/MT – 663.61 (-0.85)


    Meantime, world oil indexes changed irregular on Nov.11 amid renewed doubts over the prospects of a trade deal between the United States and China, while concerns over excess supplies also weighed on the market.

    Brent for January settlement decreased by $0.33 to $62.18 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for December delivery fell by $0.38 to $56.86 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $5.32 to WTI. Gasoil for November delivery gained $7.00.

    Today morning oil indexes do not have any firm trend so far.

    Trump said on Nov.09 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.

    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. Trump also said there had been incorrect reporting about U.S. willingness to lift tariffs as part of a "phase one" agreement, news of which had boosted markets. 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.

    Chinese data during the weekend showed continued weakness in Chinese economic growth. China’s producer price index (PPI) slumped the most in October since July 2016, while car sales fell for the 16th month in a row. Both sets of data suggest that China’s economic growth continues to slow down, which, combined with an overall global economic growth slowdown, doesn’t bode well for oil demand growth, and consequently, oil and fuel prices.

    Germany insists that Britain and France together with Germany must be ready to react to Iran's breaches of its 2015 nuclear deal and this could mean reimposing international sanctions on Tehran, though Europe still wants to save the accord. Iran said last week it had resumed low-grade uranium enrichment at its underground Fordow nuclear plant and at the weekend said it could refine up to 60% of fissile purity, not far off the 90% level needed for nuclear bomb fuel - its most significant breaches of the deal with world powers. So far, the European position is that the International Atomic Energy Agency and its inspectors must first verify Iran's latest announcements on enrichment.

    The statistics published by Baker Hughes last Friday showed that the Oil Rig Count in the USA reached the lowest level over the previous 31 months: the indicator lost 8 units and now equals to 684. The total number of rigs lost 7 units, down to 817 overall. As a result, the actual reading is close to April of 2017. Since the beginning of 2019, the indicator has dropped 23%, but without influencing the total oil extraction as it has added 8% over the same period. The latest numbers showed that the daily oil output in the USA stopped at 12.6 million barrels per day.

    It is expected that the introduction of the 0.50% global sulphur cap will increase the need for additional IMO 2020-compliant fuel and blend component tank storage. ARA and Houston are the largest in terms of tank capacity, followed by Singapore and Fujairah, and all these hubs have demonstrated a similar growth trajectory, albeit starting at different moments in time. Global tank capacity (i.e. all those terminals that rent out capacity to third parties) is currently around 1 billion cubic metres (cbm), with these four bunker hubs together accounting for a market share of just under 10%. Moderate oil price levels as well as price volatility moving upwards were positive indicators for the tank storage business, whereas low stock levels and an oil price forward curve in backwardation could be considered as negative sign.

    Meantime, forecast said that the anticipated switch to pricier 0.50% sulphur fuels from 1 January 2020 will mean that trading conditions for ageing and inefficient tonnage become more challenging. IMO 2020 will add an additional cost on top of typical expanded off-hire periods and greater maintenance and repair expenses. Scrapping activity will likely stay at minimal levels over the next few months on the expectation that IMO 2020 disruptions and seasonal strength in refining runs — plus geopolitical uncertainty and weather-related delays — could support tanker earnings during winter. However, this situation could change in the transition to Q2 2020.

    We expect bunker price changes may be insignificant and irregular today in a range of plus-minus 3-5 USD.




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