• 2019 November 22 10:03

    MABUX: Bunker market this morning, Nov 22

    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 increased on November 21:

    380 HSFO: USD/MT – 336.32 (+3.59)
    180 HSFO: USD/MT – 379.37 (+2.24)
    MGO: USD/MT – 659.11 (+2.84)


    Meantime, world oil indexes rose on Nov.21 following the reports that OPEC and its allies are likely to extend output cuts until mid-2020.

    Brent for January settlement increased by $1.57 to $63.97 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for January delivery rose by $1.47 to $58.58 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $5.39 to WTI. Gasoil for December delivery gained $5.25.

    Today morning oil indexes change irregular so far.

    The trade war between the U.S. and China - world's two biggest economies - has hit global growth prospects and dominated the outlook for future oil demand. There are concerns that the first phase of a trade deal could slide into next year, while markets are wary negotiations might take a hit as the U.S. House of Representatives passed two bills to back protesters in Hong Kong, much to the disapproval of China. U.S. President Donald Trump said he is inclined to raise tariffs on Chinese imports if a trade deal is not reached.

    Russian President Vladimir Putin said on Nov.20 Russia and OPEC have 'a common goal' of keeping the oil market balanced and predictable, and Moscow will continue cooperation under the global supply curbs deal. At the same time, Moscow argues that it will find it hard to cut oil production voluntarily during the cold winter months, especially in western Siberia, where Russia produces two-thirds of its oil and where most of its well rigs are located. The Organization of the Petroleum Exporting Countries (OPEC) meets on Dec. 5 in Vienna, followed by talks with a group of other exporters, including Russia, known as OPEC+.

    Meantime, some sources said, that OPEC and its allies are likely to extend existing oil output cuts when they meet next month until mid-2020. The current oil supply cuts run through to March 2020. On Dec. 5, Saudi Arabia is set to announce the final pricing of the initial public offering of Aramco, in what it hopes will be the world's largest IPO. The oil price at the time is likely to be key to Aramco's listing, expected around mid-December. OPEC sources in turn said market conditions in the first quarter of 2020 remain unclear amid concerns of a slowdown in oil demand and weak output compliance by some producers such as Iraq and Nigeria, which is complicating the outlook.

    Iranian President Hassan Rouhani said on Nov.20 that Iran and its people have defeated the conspiracies of its enemies and claimed victory in the nationwide protests in the country following a massive fuel price hike last week. Last week Iran raised by 50 percent gasoline prices—which are some of the cheapest in the world—and introduced limits on gasoline purchases to help needy households as U.S. sanctions cripple the economy. The fuel price hike sparked protests across the country that have already claimed at least one victim.

    Just a few weeks away from implementation, the International Maritime Organization’s (IMO) 2020 sulphur cap continues to create waves throughout the marine industry. The headlines it has generated have primarily focussed on the need for – and availability of – 0.50% sulphur fuels, the main compliance choice. But this is only one of the critical factors: compliance will need to go hand in hand with quality. In this context it should include stability, compatibility, combustion characteristics, a fuel’s susceptibility to waxing and the presence of catalytic fines. Bunkering a poor quality fuel could have serious operational ramifications and implications on the total costs of operations, even if it complies with IMO 2020.

    Meanwhile, global oil refiners have upgraded processing units and adjusted operations to raise output of low-sulphur residual fuels and marine gasoil (MGO) to prepare for stricter shipping fuel standards that kick in on Jan. 1, 2020. The shipping industry consumes about 4 million barrels per day (bpd) of marine bunker fuels, and the rule changes will impact more than 50,000 merchant ships globally, opening a significant new market for fuel producers.

    We expect bunker prices may demonstrate upward trend today in a range of plus 6-12 USD.




2024 March 29

13:40 HD KSOE and Infineon sign MoU to develop ship electrification technology
13:29 NYK and JMU formulate method for evaluating ship performance in actual seas
12:59 HD Hyundai wins US$463 mln warship order in Peru
12:09 COSCO SHIPPING Ports throughput up by 4.4% YoY to 135,808,554 TEU in 2023
11:46 The "Ane Maersk" calls at the Eurogate container terminal in Hamburg for the first time on its maiden voyage from Asia to Europe
11:20 Sallaum Lines and Fujian Mawei Shipbuilding commence construction of Ocean Class vessels
10:43 Oasis Marine develops solutions for offshore hydrogen bunkering
10:03 Petrofac secures contract extension with ONEgas West in the UK market

2024 March 28

18:05 Jan De Nul, ENGIE and Equans launch a pilot project centred around the use of Vanadium Redox Flow batteries
17:35 Latvian port equipment manufacturer Bleste introduces new bulk handling ‘bucket’
17:05 Investors upgrade Navios Maritime Partners
16:25 DEME reports 22% increase in the orderbook and a record-high turnover of 3.3 billion euros in 2023
16:14 MABUX: Bunker Outlook, Week 13, 2024
15:41 AD Ports Group announced the opening of Saadiyat Marina & Ferry Terminal and Rabdan Marina
15:11 Sydney invests $11.5 million in two new operational vessels designed by Incat Crowther
14:55 China’s Jinzhao wins Peru $405m port construction contract
14:13 APM Terminals Moín handled six million TEU
13:48 ClassNK grants Innovation Endorsements for Products & Solutions to two innovative initiatives by MOL
13:37 Konecranes launches its flagship Konecranes X-series industrial crane
12:53 United European Car Carriers UECC spearheads collaboration with industry leaders to advance CNSL as a sustainable marine fuel
12:26 Ocean Network Express announces Transpacific service
11:48 Yang Ming announces 2025 Trans-Pacific service network
11:24 Fincantieri signs contract for the supply of two PPAs to Indonesia
10:42 Maersk transported more than 660,000 TEU using clean fuel in 2023
10:23 Documentation delays push industry costs to $3bn
09:48 PONANT and FARWIND Energy partner to develop green hydrogen refueling solutions

2024 March 27

18:22 Bureau Veritas awards world’s first prototype certification for SolarDuck’s floating offshore solar solution
17:58 The recently converted Allseas's shallow water pipelay barge starts preparations for its first commercial project
17:38 The Port of Rotterdam calls on the European Commission and Parliament to focus on actively promoting green energy
15:23 SEFE to become sole shareholder of WIGA
14:53 Ocean Installer secures yet another SLM contract with Equinor
14:23 Cadeler signs offshore wind turbine installation contract for the vessel Wind Scylla
13:42 Carnival Cruise Line orders 5th Excel-class cruise ship
13:11 Maersk and MSC overcharging cargo owners for EU ETS, says T&E
12:52 The Port Authority of Valencia launches the ZAL project in the Port of Valencia
12:11 Clarkson Port Services and Peak Group collaborate to deliver Port Agency services across the North Sea
11:42 Wan Hai Lines holds ship naming ceremony for new vessels
11:24 Consolidated shipping lines EBIT loss was $1.44 billion in Q4 2023: Sea-Intelligence
10:49 Seaspan Shipyards receives long-term contracts for the pre-construction work of the the Canadian Coast Guard's first six multi-mission vessels
10:14 Woodside completes sale of 10% scarborough interest

2024 March 26

18:02 COSCO Shipping Lines introduces new Americas service
17:30 Davie awarded first contract for design of icebreaker fleet under Canada’s National Shipbuilding Strategy
17:04 Sanctions complicate Arctic LNG ship sales, Hanwha Ocean says - Bloomberg
16:57 Terntank places an order for 1+1 additional wind/ methanol-ready hybrid tanker
16:28 BW LNG completes acquisition of two TFDE vessels from Stena Bulk
15:50 Hanwha Ocean develops VR-based special vehicle simulator
15:20 TotalEnergies and SINOPEC join forces to produce sustainable jet fuel at a SINOPEC's refinery
14:52 Wärtsilä Lifecycle Agreement to guarantee operational reliability of new wind farm installation vessel
14:23 Hudong-Zhonghua launches two LNG carriers
13:51 Cargo ship hits Baltimore’s Key Bridge
13:12 Final sanctioned tanker with Russian Sokol oil to reach China port - Reuters
12:42 Adani Ports acquires 95% of Odisha's Gopalpur Port from SP Group for $162 million
12:21 IHI and Yara Clean Ammonia agree to jointly assess clean ammonia business collaboration
11:41 Yara Clean Ammonia and Azane granted safety permit to build world's first low emission ammonia bunkering terminal
11:16 Wartsila and Royal Caribbean Group celebrate 15 years of collaboration on digital transformation
10:46 A global carbon tax on shipping is coming, says ABS Chairman and CEO
10:21 Eni, Fincantieri and RINA establish partnership for maritime transport decarbonization

2024 March 25

18:07 The Maritime and Port Authority of Singapore continues to investigate reports of oil spills off the port of Tuas
17:31 “K” Line, NIPPON HAKUYO and OPT Gate sign an agreement for a new fire detection system for car carriers
17:07 Greek merchant fleet recorded slight decline in January 2024
16:47 Hanwha Ocean Plans to develop green technology and naval ships
16:25 U-Ming Singapore and ITOCHU sign milestone MoU for the joint development of ammonia dual-fuel and de-carbonized vessels
15:34 Svitzer targets methanol-fuelled MAN 175DF-M engine for tug application
15:04 Wallenius Wilhelmsen signs contracts for four 9,300 CEU vessels with China Merchants Jinling Shipyard
14:40 Taiwan International Port to upgrade terminal facility at Kaohsiung
13:59 Сruise ship Carnival Freedom catches fire near Bahamas
12:59 Hanwha Ocean wins 2.4 tln-won order for 8 LNG ships
11:16 Inland Ports meet in Paris to talk about the innovation potential of inland ports
10:50 IMO agrees possible outline for maritime “net-zero framework”
10:24 Hapag-Lloyd to continue to avoid the Red Sea route