• 2019 December 2 11:01

    MABUX: Bunker market this morning, Dec 02

    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 November 29:

    380 HSFO: USD/MT – 338.69 (-0.36)
    180 HSFO: USD/MT – 381.77 (-2.22)
    MGO: USD/MT – 668.12 (+1.43)


    Meantime, world oil indexes fell on Nov.29 as Russia sent out mixed signals on its commitment to extend production cuts and U.S.-China tensions.

    Brent for February settlement decreased by $1.44 to $62.43 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for January delivery fell by $3.08 to $55.17 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $7.26 to WTI. Gasoil for December delivery lost $14.25.

    Today morning oil indexes rise as signs of rising manufacturing activity in China pointed to increasing fuel demand and hints that OPEC may deepen output cuts at its meeting this week indicated supply may tighten next year.

    Russian Energy Minister Alexander Novak said on Nov.29 it is too early to talk about extending the OPEC+ crude production agreement and the producer group should take a decision closer to April. His comments are likely to be opposed by most of OPEC’s members, who are aiming to agree at the cartel’s upcoming Dec. 5-6 meeting on the current OPEC+ deal to cut 1.2 million barrels per day. OPEC+ is struggling to prop up prices against weak demand growth, fragile market sentiment and strong gains in non-OPEC supply.

    Data from the Energy Information Administration on Nov.29 showed the U.S. exported 89,000 bpd more than it imported in September, solidifying its status as a net exporter of crude and petroleum products under government records that began in 1949.

    Meanwhile, oil indexes were under the pressure on concerns that talks to end the trade war between the United States and China, the world's two biggest oil users, would be disrupted by U.S. support for protesters in Hong Kong. China reacted furiously on Nov.28 to Trump’s signing of bills in support of the Hong Kong demonstrators, summoning the U.S. ambassador to protest and warning the move would undermine cooperation with Washington. Hong Kong, a former British colony that was granted semi-autonomy when China took control in 1997, has been rocked by six months of sometimes violent pro-democracy demonstrations.

    Today oil prices are supported by factory activity in November in China. The world's biggest oil importer increased factory active for the first time in 7 months because of rising domestic demand amid government stimulus measures.

    Indexes were also supported after Iraq's oil minister said on Dec.1 that OPEC and allied producers will consider deepening their existing oil output cuts by about 400,000 barrels per day (bpd) to 1.6 million bpd. OPEC+, are expected to at least extend existing output cuts to June 2020 when they meet this week. Current quotas for OPEC members only cover crude production, while non-OPEC participants in the deal were allowed to include their condensate production when determining their baseline for cuts. Disputes over definitions of condensate have cause friction between OPEC members in the past.

    Fears about a shortage of diesel and other middle distillates stemming from new marine pollution regulations have receded, with distillate premiums falling to some of the lowest levels for two years. From the start of 2020, ocean-going ships will be required to use low-sulphur fuels or employ exhaust gas cleaning systems, known has scrubbers, under pollution control rules approved by the International Maritime Organization (IMO). Fuel traders and shipowners have warned for several years that the switch from high-sulphur fuel oil (HSFO) to low-sulphur fuel oil (LSFO) or marine gasoil (MGO) could lead to shortages and rising prices.

    Distillate consumption is closely correlated with the economic cycle, so the slowdown in global manufacturing and trade during 2018/19 has taken much of the predicted heat out of the distillate market. If the global economy had been growing strongly at this point, distillate consumption would have been significantly higher and a price spike would have been much more likely. Instead, the trade war between the United States and China and the resulting global slowdown has created more headroom to introduce the new fuel standards without risking a fuel shortage. New pollution regulations are almost always accompanied by warnings about shortages and costs, which often turn out to be exaggerated.

    We expect bunker prices may demonstrate downward changes today: US$ 5-7 down for IFO and US$ 14-17 down for MGO.




2019 December 15

14:05 SAL Heavy Lift becomes world’s first to equip vessels with new hydrogen / methanol injection technology
13:16 Nauticor’s "Kairos" received the first LNG bunker license in the Port of Rostock Hamburg
12:01 USCG begins ice breaking operations in western Great Lakes
11:48 Iridium continues GMDSS readiness with announcement of launch partners
10:41 Farid Salem honored by the Lloyd’s List Lifetime Achievement Award

2019 December 14

15:48 USCG returns majority of New York Waterway ferries to service
14:31 SK Telecom and SHI successfully verified 5G-powered autonomous and remote control navigation test platform using a test ship
13:19 Mitsubishi Corporation participates in FPSO project in Brazil
11:54 SEA\LNG's study underlines LNG as a compelling investment solution for VLCCs on the Arabian Gulf to China trade route
10:46 GTT Training receives the ‘LNG World Shipping Safety Award 2019’
08:55 Draft strategy for development of Russia’s Arctic through 2035 to be presented to Vladimir Putin by year end

2019 December 13

18:17 New ecological equipment enters berths of Multipurpose Reloading Complex in Ust-Luga
17:22 Total's Mozambique LNG Project gets $400 mln loan from African Development Bank
17:03 Port of Los Angeles and Indonesia Port Corporation sign cooperative agreement
16:33 ABB wins contract to power Genting’s next-generation cruise vessels
16:12 ABB completes delivery for the world's most advanced icebreaking LNG carrier fleet
16:03 Windermere Lake Cruises new vessel launched in Damen Technical Cooperation project
15:33 MacGregor deck handling solution supports China’s Xue Long 2 icebreaker operation
15:12 Polarcus awarded 10-month acquisition program offshore Brazil
14:32 Rotterdam Port Fund invests in Fleet Cleaner
14:11 Subsea 7 awarded contract offshore Norway
13:43 Moín Container Terminal reaches 1 million TEUs
13:31 New container terminal opens in northern Italy
13:05 Aker Solutions to provide subsea production system for phase two of Aker BP's Ærfugl
12:30 Jifmar Offshore Services acquires Delta Marine
12:04 SBM Offshore signs FPSO Sepetiba contracts
11:30 Abu Dhabi Ports announces AED 4Bn expansion projects at Khalifa Port on its 7th Anniversary
11:27 Damen signs contract with Cotecmar for DTC hydrographic research vessel
11:12 WMU and EMSA cooperate on capacity building and research
11:03 SAL Heavy Lift becomes world’s first to equip vessels with new hydrogen / methanol injection technology
10:48 Murmansk Sea Fishing Port handled 245,000 tonnes of cargo in 11M’2019, down 20.7% Y-o-Y
10:34 Overseas Shipholding Group and American Shipping Company jointly announce extension of tanker charters
10:24 WMU President reports to the IMO Assembly
09:59 Kawasaki Heavy Industries launches the world's first liquefied hydrogen carrier
09:43 MABUX: Bunker market this morning, December 13
09:29 Brent Crude futures price is up 0.65% to $64.62, Light Sweet Crude – up 0.52% to $59.49
09:13 Baltic Dry Index is down to 1,388 points

2019 December 12

18:36 EBRD finances Tekirdag port on Turkey’s Sea of Marmara
18:05 Dutch Drone Delta established with Port of Rotterdam Authority support
17:51 Port of Southampton continues infrastructure investment with £3m crane
17:30 Baltic Workboats shipyard delivers 19 WP Oilrec workboat
17:05 The European Federation of Inland Ports welcomes the Green Deal for Europe
16:46 MOL orders 2 next-generation 'EeneX' coal carriers
16:43 Throughput of port Kaliningrad in Jan-Nov’2019 fell by 21% Y-o-Y to 10.20 million tonnes
16:26 Klaipėda LNG terminal welcomed three large and four small LNG vessels in November
16:05 Air quality sensor in the Port of Rotterdam checks sulphur emissions from shipping
15:57 Throughput of port Vyborg in Jan-Nov’2019 fell by 35% Y-o-Y to 1.12 million tonnes
15:34 Alewijnse wins electrical contracts for two additional Combi Freighters at Damen Yichang Shipyard
15:00 Throughput of port Vysotsk in Jan-Nov'2019 climbed by 6% Y-o-Y to 17.90 million tonnes
14:36 Krasnoye Sormovo shipyard launches dry cargo carrier Pola Anastasia of Project RSD59
14:12 CMA CGM announces FAK Reefer Rates from North Europe to Asia and Middle East
13:53 Bunker market sees mixed price movements at the Far East ports of Russia (graph)
13:31 NLNG signs sales deal with Vitol SA
13:12 Austal USA delivers USNS Puerto Rico to U.S. NAVY
12:49 Throughput of port Primorsk in Jan-Nov’2019 grew by 16% Y-o-Y to 56.25 million tonnes
12:24 Lead nuclear-powered icebreaker of Project 22220, Arktika, left for sea trials
12:00 ABS publishes Fuel Cell Guidance to support industry decarbonization objectives
11:38 Port of Ust-Luga handled 95.31 million tonnes in 11M’18, up 6% Y-o-Y
11:13 Throughput of Port St. Petersburg in 11M'2019 grew by 2% to 55.01 million tonnes
11:10 Verifavia Shipping undertakes IHM services for 29 Attica Group vessels