• 2020 January 6 10:18

    MABUX: Bunker market this morning, Jan 06

    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) increased slightly in the end of the first week 2020:

    380 HSFO: USD/MT – 382.85 (+4.43)
    VLSFO: USD/MT – 660.00 (+6.00)
    MGO: USD/MT – 714.15 (+1.38)


    Meantime, world oil indexes rose on Jan.03 amid escalating tension in the Middle East and supported by U.S. inventory report.

    Brent for March settlement rose by $2.35 to $68.60 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for February gained $1.87 to $63.05 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $5.55 to WTI. Gasoil for January delivery added $10.00.

    Today morning global oil indexes continue firm upward trend.

    Reports that a U.S. air strike killed key Iranian and Iraqi military personnel escalated Middle East tensions and raised concerns of oil supplies disruption. Tensions have been building between Washington and Tehran after an Iran-backed Iraqi militia stormed the American embassy in Baghdad to protest deadly U.S. airstrikes earlier last week. Concerns in the region have persisted over the past year as Saudi Arabia’s energy facilities as well as foreign tankers in and around the Persian Gulf have been the target of several attacks. The area has five of OPEC’s biggest oil producers. Two of them: Iran and Iraq, combined pumped more than 6.7 million barrels a day of oil last month, more than one-fifth of OPEC output. Energy exports from both countries also rely on the Strait of Hormuz, the narrow and crucial oil and natural gas shipping choke-point that’s always in focus when Middle East tensions flair, particularly with Iran.

    The U.S. Energy Information Administration reported a crude oil inventory decline for the last week of 2019. The draw totaled an impressive 11.5 million barrels. Analysts had expected a decline of 3.167 million barrels, after the EIA reported a draw of 5.5 million barrels for the week to December 20. At 429.9 million barrels, U.S. crude oil inventories are at the five-year seasonal average. Meantime, U.S. oil production had hit a record 12.66 million barrels daily in October, with weekly estimates suggesting this could have risen further in the months since October to over 13 million bpd.

    Russia has halted oil supplies to refineries in Belarus amid a contract dispute threatening large Russian oil deliveries to Western Europe. However, ta the moment Russian oil transit to Europe via Belarus was so far uninterrupted.

    Testing companies are examining new low-sulfur marine blends acquired in Antwerp, Belgium; Houston and Singapore and have found sediment at levels that could damage the engines of ocean-going vessels. The potential hazards were demonstrated already in 2018 when some ship operators were forced to pay for costly repairs after buying bunker fuel contaminated by a chemical used in epoxy. That incident affected about 200 vessels. Some 60% of the recipes for making low-sulfur fuel proposed by bunker suppliers near the top U.S. oil port of Houston failed to meet sediment specifications. Last month high sediment levels in bunker fuel samples were also found in Singapore, Antwerp and other European ports. The levels exceeded international residue standards. Mixing two or more low-sulfur bunker fuels can raise the sediment levels, producing a residue that could clog and damage an engine.

    The implementation of low sulfur bunker fuel regulations on January 1 could result in changed market structures for clean and dirty tankers in 2020 as a result of compliance choice, as sources contemplate the possible emergence of multi-tiered pricing, specialized routes, and bunker availability issues. Roughly 17% of the tanker fleet is expected to be installed with scrubbers by the end of 2021 to comply with the International Maritime Association’s 0.5% sulfur bunker fuel specifications, enabling those ships to run lower-cost high sulfur bunker fuel. Meantime, shipowners have already faced delays in finding low sulfur bunkers in Brazil and Panama, with longer voyages and later laycans requiring more forward-looking bunkering schedules. Mexico is unlikely to have low-sulfur bunkers available anytime soon, as the country has not signed onto the IMO mandate and infrastructure at the ports appears limited.

    We expect bunker prices may demonstrate today firm upward movement in a range of plus 8-11 USD.




2020 February 29

12:27 Huntington Ingalls reaches important milestone in construction of CVN 79
11:47 USCG conducts operation at U.S. Virgin Islands ferry terminals
10:51 Sanmar delivers Robert Allan-designed ASD tug to Rimorchiatori Riuniti
08:07 BW LPG declares option for additional LPG dual-fuel engines, bringing total investment to twelve
07:03 CMA CGM announces FAK rates from Asia to North Europe

2020 February 28

18:17 CMA CGM announces FAK rates from North Europe to Canada
18:12 Onezhsky Shipyard launches second hybrid workboat for Rosmorport
17:30 COSCO SHIPPING successfully completes the first bauxite shipping mission for CHINALCO’s project in Guinea
17:06 CMA CGM announces FAK rates from North Europe to USEC, USGULF and USWC
16:54 Glavgosexpertiza approved construction of Arctic LNG 2 facilities
16:52 ICHCA International, the International Cargo Handling Coordination Association, and the Association of Bulk Terminal Operators sign MOU
16:11 Shipbuilding and Shiprepair Yard RIF conducted sea trials for its HDP boat of Project Rif-75 PKZ
15:47 LNG fuelled ore carrier proves to be commercially viable, SEA-LNG study shows
15:20 FESCO Board expanded to nine members
14:16 Panahon presence boosts PISR in the Far East
13:49 Norwegian Shipowners' Association issued sustainability reporting guidelines for shipping and offshore industries
13:13 Johan Röstin steps down as CEO of ForSea
12:36 RF Navy's ship Admiral Vladimirsky completed oceanographic research in Bellingshausen Sea
12:10 Polskie LNG launches Open Season Process for Świnoujście LNG Terminal
11:47 Port of Antwerp launches Bulkchain collaboration platform
11:02 Diana Shipping announces the sale of a Capesize dry bulk vessel, the m/v Norfolk
10:41 IMO developed guidelines for taking onboard samples of fuel from ships
10:18 Fincantieri launches the first corvette for Qatar
10:07 Pathways to achieve IMO's Initial GHG Strategy goals discussed at dedicated workshop hosted by WMU
09:40 Brent Crude futures price is down 2.51% to $50.43, Light Sweet Crude – down 2.68% to $45.83
09:29 The construction of new deepwater berths of cruise terminal at Piraeus Port starts
09:21 MABUX: Bunker market this morning, Feb 28
09:14 Baltic Dry Index is down to 529 points
08:32 CMA CGM announces PSS for cargo from North Europe to Asia

2020 February 27

18:05 European yards specify Thordon System as standard for deck machinery
17:48 IMO's GloFouling Partnership project tackles problem of invasive aquatic species in Sri Lanka
17:29 Tallink Grupp reports nearly 25% higher net profit for the full financial year 2019
17:05 AquaTerra acquires Subsea Engineering and Technical Services
16:51 Zelenodolsk Shipyard named after A.M. Gorky laid down passenger ship Chaika LNG
16:35 Vale clarifies incident with contracted vessel
16:04 NYK Cruises to cancel cruises due to coronavirus
15:30 Average physical depreciation of Rosmorport’s berthing facilities is 24%
15:07 National Association of Shipping Agencies addresses FAS over plans on multiple increase of port dues in Russia
14:56 Arbitration award related to purchase options for four VLCCs on charter to Okeanis ECO Tankers
14:43 ASCO strengthened preventive measures against coronavirus
14:19 ASCO takes necessary precautionary measures to prevent environmental damage
13:55 Rotterdam to host ACI’s 24th Ballast Water Management Conference on 7-8 April 2020
13:53 Ørsted signs 20-year lease with Port of Taichung for Greater Changhua offshore wind farms
13:34 Vysotsk VTS obtains Certificate of Conformity
13:12 Xeneta container rates alert: long-term contracted rates hold despite Coronavirus chaos
12:56 Certificate of Conformity obtained for Ust-Luga VTS
12:33 Finnlines published its 2019 Financial Statements and Financial Review
12:10 A.P. Moller - Maersk links new $5.0bn revolving credit facility to its CO2 performance
11:52 Port of Gdynia seeks opportunities for further development
11:28 Rosmorport’s Murmansk Branch performed pilotage of Capesize vessel
11:04 Rosmorport to complete dredging under NOVATEK’s project in Petropavlovsk-Kamchatsky by April 2021
10:41 3rd Technical Conference "Modern Solutions for Hydraulic Engineering" kicks off in Moscow
10:35 Ships of RF Navy’s Baltic Fleet continue performing planned training as part of its long-distance campaign
10:16 Port of Oakland debt ratings affirmed by Fitch
10:13 Brent Crude futures price is down 1.52% to $51.99, Light Sweet Crude – fell to 1.54% to $47.98
09:56 Hydrographic Department to dredge about 20 million cbm of material on Sabetta’s seaway canal in 2020
09:34 Marine Recruiting Agency LLC trained 1,957 specialists in 2019, up 2.6% YoY
09:32 MABUX: Bunker market this morning, Feb 27
09:15 Baltic Dry Index is up to 517 points

2020 February 26

18:37 Royal IHC to supply integrated power cablelay spread