• 2020 January 8 10:13

    MABUX: Bunker market this morning, Jan 08

    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) changed irregular on Jan.07:

    380 HSFO - USD/MT - 389.96(+0.95)
    VLSFO - USD/MT – 666.00(+2.00)
    MGO - USD/MT – 715.37(-3.27)


    Meantime, world oil indexes fell on Jan.07 as market reconsidered the likelihood of Middle East supply disruptions in the wake of the United States killing a top Iranian military commander.

    Brent for March settlement declined by $0.64 to $68.27 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for February fell by $0.57 to $62.70 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $5.57 to WTI. Gasoil for January delivery lost$3.25.

    Today morning global oil indexes continue firm upward trend after Iran attacked two U.S.-Iraqi airbases.

    Iran attacked two U.S.-Iraqi airbases in response to a U.S. airstrike that killed a top Iranian general last week, sparking worries of intensifying conflict in the Middle East. Overnight, the Pentagon said missile strikes were launched from Iran and targeted the Ayn al-Asad base in western Iraq and another facility in Erbil.

    The unexpected assassination of one of the most important figures in the Iranian government set off fears of a hot war between the U.S. and Iran. Trump has vowed more attacks, including potential war crimes, if Iran does anything in response to the killing. Iran has withdrawn completely from the 2015 nuclear deal. Iraq has begun laying the groundwork to force U.S. troops to exit the country. Trump has threatened Iraq with harsh sanctions if they follow through. There are some speculations that Iran could target oil installations. The U.S. State Department warned of a “heightened risk of missile/drone attacks” in Saudi Arabia. The shipping industry is warning of more risk to oil tankers in the Persian Gulf.

    The British Royal Navy will escort UK-flagged vessels going through the world’s most vital oil choke point, the Strait of Hormuz, amid a sudden spike in tensions in the Middle East. The HMS Montrose and the HMS Defender will be deployed in the region again, after last year they escorted UK-flagged ships through the Strait of Hormuz following the seizing of an Iranian oil tanker by Gibraltar with the help of the UK that angered Tehran.

    Iran said that it would abandon limits on uranium enrichment following the assassination of General Qassem Soleimani. The U.S. withdrew from the 2015 nuclear agreement in 2018, and Iran has gradually ratcheted back its commitments in response. Iran said its moves were reversible upon U.S. returning to the nuclear deal.

    OPEC’s crude oil production further declined in December as the cartel’s leader Saudi Arabia continued to lead by example cutting much more than required and as the biggest laggards in compliance—Iraq and Nigeria—moved to better comply with their quotas. As per preliminary estimation, OPEC’s production in December 2019 dropped by 50,000 barrels per day (bpd) compared to November and stood at 29.5 million bpd. The Saudis reduced their crude oil production by another 50,000 bpd in December, taking the Kingdom’s over-compliance to more than 500,000 bpd compared to its quota in the deal. Iraq—OPEC’s number two in terms of production—also reduced its production by 50,000 bpd. Although this wasn’t enough to reach full compliance, Iraq was complying at 59 percent with its quota last month, up from meager 23-percent compliance in November. Nigeria saw its production drop by 80,000 bpd, nearing its quota, because of reduced exports of Bonga crude.

    It was reported, that because PDVSA has deteriorated due to a lack of cash and a worker exodus, the company has essentially handed over control to foreign partners. PDVSA is no longer producing and signing contracts for others to produce in a de facto privatization. Rosneft and CNPC were pointed out as the main beneficiaries.

    The U.S. oil and gas rig count is down below 800 for the first time since the spring of 2017. The shale industry continues to shed rigs, as pressure from investors grows. The trend supports fuel indications.

    The American Petroleum Institute reported that crude stockpiles dropped by 5.9 million barrels for the week ended Jan. 3, compared with a plunge of about 11.5 million barrels reported for the week before.

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




2020 February 25

14:05 Marakeb Technologies and Fincantieri sign MOU for unmanned technology collaboration
13:27 THE Alliance announces details of 2020 Middle East service network
12:42 Container Terminal Saint-Petersburg upgrades its fleet of production equipment
12:17 COSCO SHIPPING Lines maintains logistics chain for international trade
12:01 KSS Line adds one new VLGC model after four vessels in 2019
11:25 DP World acquires the largest multi-purpose deep-sea marine terminal on the West Coast of North America
11:16 PPA scores big in latest survey, continues to veer away from 'corruption' tag
10:43 World Maritime University signs MoU with Maritime Academy of Asia and the Pacific
10:15 Logistics specialist leases Newport Docks warehouse
10:14 CMA CGM announces PSS from Europe, Scandinavia, Black Sea & West Med to Reunion, Mauritius, Mayotte, Comoros, Seychelles & Madagascar
10:09 MABUX: Bunker market this morning, Feb 25
09:51 Throughput of port Shanghai (China) in Jan’20 fell by 13.2% to 41.75 million tonnes
09:30 Brent Crude futures price is up 0.3% to $55.94, Light Sweet Crude – up 0.39% to $51.63
09:12 Baltic Dry Index is up to 506 points

2020 February 24

16:43 MOL and DSME sign joint development agreement for environmental friendly FSRU technology
15:06 Wilhelmsen Group's fourth-generation owner Wilhelm Wilhelmsen dies
14:53 MABUX Digest: Top events on global bunker market. Week 08
12:54 Milaha participates in ‘Made in Qatar 2020’ Exhibition as a Gold Sponsor
10:45 MABUX: Bunker market this morning, Feb 24
10:11 DOF Subsea posts Q4 operating income of NOK 1,349 million

2020 February 23

15:01 Great Lakes reports record full year results
14:32 AAM completes 80’ patrol vessel for the Texas Parks and Wildlife Dep't
13:37 EDS HV Group completes scope of work at Vattenfall’s HR3 wind farm
12:23 Ingeteam signs the contract with Yantai CIMC Raffles Offshore for hybrid electric propulsion system delivery of two Ro-Ro vessels
11:21 USCG, other agencies to conduct search and rescue exercise near Perdido Bay

2020 February 22

17:14 First Subsea provide Cable Protection Systems for NnG
14:48 Med Marine: Turkish-built tug equipped with SCHOTTEL bestseller
13:41 CSBA study finds U.S. dredging industry a critical component of national security
11:39 USCG Cutter Legare returns home after interdicting over 3,300 pounds of drugs
10:47 Ray Fitzgerald to rejoin Crowley as COO

2020 February 21

18:12 Digitization of KN: paper is no longer used in the operation of Klaipėda LNG terminal
17:48 NIBULON Shipyard is about to launch second non-self-propelled open type vessel
17:17 CMA CGM announces Emergency Space Surcharge from North Europe, Scandinavia & Poland to West Med, East Med, Adriatic & North Africa
16:59 New roll trailers put into operation at Bronka port
16:04 AS Tallink Grupp’s wholly-owned subsidiary AS Hansatee Cargo merged with Group’s wholly-owned subsidiary AS Tallink
15:25 Russia's Main Department of State Expertise approved adjusted design documentation under Nord Stream 2 project
15:02 OCEAN Industries orders MAN Propulsion Packages for Royal Canadian Navy tugs
14:13 Diana Shipping announces time charter contract for m/v Coronis with Koch and cancellation of the sale of a Capesize dry bulk vessel
13:01 COSCO SHIPPING Lines provides water and rail transport services
12:40 Wärtsilä LPG Fuel Supply System the first ever to undergo engine testing
12:12 ABS to class world’s largest B-Tank VLECs by Jiangnan
11:30 Coronavirus disease 2019 – IMO urges no unnecessary delays to ships
11:09 World’s first LPG-retrofit order exercises option for four additional engines
10:44 MABUX: Bunker market this morning, Feb 21
10:43 Biofouling demands collective, urgent and ‘proactive’ approach, stresses Bellona
10:09 Cod farming set for rebound as savvy investors rush to back Norcod
09:55 Bunker prices are slightly down at the port of Saint-Petersburg, Russia
09:43 GTT acquires Icelandic company Marorka, an expert in Smart Shipping
09:35 BlueWater Reporting closely monitoring blanked sailings amid coronavirus outbreak
09:34 Brent Crude futures price is down 0.73% to $58.88, Light Sweet Crude – down 0.61% to $53.55
09:16 Baltic Dry Index is up to 480 points

2020 February 20

18:27 SMOOTH PORTS Partners met and discussed in Livorno
18:07 UNIIQ invests in Tetrahedron’s innovative crane for next-gen wind turbines
17:52 RF Navy’s Admiral Kasatonov frigate left for Barents Sea to continue testing
17:30 Evergreen issues notice for reefer cargo to Shanghai、Ningbo and Xingang, China
17:17 Tersan Shipyard (Turkey) delivers lead crab catching and processing ship of Project ST184
17:00 West Africa Container Terminal to commence Phase 2 upgrade
16:53 Port of Rotterdam increases sales of LNG and VLSFO
16:53 Indonesia hosts new national workshop on maritime security risk
16:29 UN agencies collaborate to promote seafarers’ rights treaty