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  • 2019 March 13 11:27

    MABUX: Bunker market review as of this morning, Mar.13

    The Bunker Review was contributed by Marine Bunker Exchange

    MABUX World Bunker Index (consists of a range of prices for 380 HSFO, 180 HSFO and MGO (Gasoil) in the main world hubs) increased on Mar. 12:

    380 HSFO - USD/MT 422.21 (+3.14)
    180 HSFO - USD/MT 470.364 (+4.15)
    MGO         - USD/MT 641.79(+3.43)


    Meantime, world oil indexes demonstrated slight irregular changes on Mar. 12 as ongoing political and economic crisis in OPEC-member Venezuela restricts supply

    Brent for May settlement increased by $0.09 to $66.67 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for April delivery rose by $0.08 to $56.07 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of 9.80 to WTI. Gasoil for April delivery declined by $3.00.

    Today indexes rise, pushed up by ongoing supply cuts from producer cartel OPEC and U.S. sanctions against Iran and Venezuela

    Venezuela's opposition-run congress on Monday declared a state of alarm over a five-day power blackout that has crippled the country's oil exports and left millions of citizens scrambling to find food and water. At the same time the United States is preparing to impose additional Venezuela-related sanctions against financial institutions in the coming days. Washington was also preparing to withdraw more U.S. visas from Venezuelans with close ties to President Nicolas Maduro. Comments came as Venezuela ordered American diplomats to leave the country within 72 hours.

    Saudi Arabia is planning to cut its crude oil exports in April to below 7 million barrels per day (bpd) despite very strong demand from international waterborne customers at more than 7.6 million bpd. At the same time the country will keep its output well below 10 million bpd. That was cited as supporting fuel prices. March’s oil exports will also be below 7 million bpd.

    According to the American Petroleum Institute (API) commercial crude oil inventories in the US for the last week, declined by 2.6 million barrels after rising by 7.29 million barrels a week earlier.

    OPEC warned Wall Street banks and big investors, that if Washington passes legislation that would allow the U.S. government to sue the cartel, the first victim will be shale. If the so-called NOPEC bill becomes law, the cartel would stop working and therefore every member would raise production to maximum capacity, causing a crash in oil prices. U.S. politicians have tried several times since 2000 to pass the NOPEC bill, but the White House opposed it -- both George W. Bush and Barack Obama threatened to use their veto. The risk for OPEC is that Donald Trump may break with his predecessors.

    In other news, the U.S. Energy Information Administration (EIA) reported on Mar.12 that U.S. crude oil production is expected to average about 12.30 million bpd in 2019, up from an average of around 11 million bpd in 2018. At the same time EIA cut its 2019 world oil demand growth forecast by 40,000 barrels per day to 1.45 million bpd (for 2020 -  by 20,000 bpd to 1.46 million bpd).

    The market expects the U.S. Energy Information Administration (EIA) to report that U.S. crude oil inventories grew by 2.9 million barrels for the week to March 8 versus the previous week's build of 7.1 million, in official data due at 10:30 AM ET on Wednesday.

    We expect bunker prices to demonstrate slight irregular changes today: USD 1-3 up for IFO, USD 1-3 down for MGO.




2021 November 26

18:17 TECO 2030 is leading a project group that will build a hydrogen-powered high-speed vessel for the Port of Narvik
18:00 TransContainer’s IFRS-based net profit in 9M'2021 increased by 51% to RUB 14.8 bln
17:35 Royal Niestern Sander signs contract for walk to work vessel conversion
17:26 PortNews offers final edition of its magazine for 2021
17:15 Konecranes and Cargotec note CMA’s announced Provisional Findings regarding the planned merger of Konecranes and Cargotec
17:03 IMO appoints Special Advisor on Maritime Security
16:55 Nord Stream 2 delay weighs on gas prices - Gasum
16:40 Nevsky Shipyard lays down two research vessels of Project 17050
16:25 BIMCO calls for continued naval support in Gulf of Guinea after piracy incident
16:05 Alfa Laval and Orcan Energy sign a cooperation agreement for the marine market
15:43 Wärtsilä launches power limitation solutions for EEXI compliance
15:25 Hiab launches HIAB iQ.1188 HiPro loader crane with new control system
14:47 RF Government approves Transport Strategy of Russia until 2030 with forecast until 2035
13:59 Sredne-Nevsky Shipyard launches Anatoly Shlemov minesweeper of Project 12700
13:11 The Port of València hosts a rescue drill for a crane operator
12:10 GTT obtains tank design order for three new LNG Carriers from Hyundai Heavy Industries and Hyundai Samho Heavy Industries
11:54 Phase 2 of Bagayevsky hydrosystem construction begins
11:52 Ardmore moderates COP26 ‘ShipZero’ panels, discussing the realities of zero emission ships
11:17 ClassNK signs MOU on cybersecurity with Panama Maritime Authority (PMA)
10:51 MSC starts new In-Transit Cargo service
10:32 MABUX: Global bunker market to keep slight irregular fluctuations with no firm trend on Nov 26
10:22 Oboronlogistics' Ambal ferry obtaines certificate on safety management from RS
09:48 MPA and maritime partners maintain cybersecurity readiness through inaugural exercise
09:33 Baltic Dry Index as of November 25
09:17 Oil prices decrease on concerns over reduction of demand

2021 November 25

18:06 Rolls-Royce and Zhenjiang Shipyard to jointly promote tugs and workboats with mtu engines in China
17:44 Delo Group presented own Digitalization Strategy
17:16 Keppel awarded FSRU conversion and FPSO integration work worth around S$200 million
16:25 Cargo traffic within Azov-Don Basin of Russia’s IWWs fell by 14% in 2021
16:03 Great Lakes Dredge & Dock announces receipt of $92.5 mln Houston Ship Channel widening and improvement project 11 award
15:59 Damen Shipyards achieves official EU Stage V certification for its Emission Reduction system
15:30 RF State Duma ratifies Nairobi Wreck Removal Convention, 2007
15:02 Navigator Holdings announces approval in principle for new CO2 carrier designs for its Dan-Unity CO2 joint venture with Evergas
14:59 RINA, ABB, Helbio, the Liberian Registry, Wärtsilä and an Energy Major enter in proposal with hydrogen as fuel to meet IMO2050 targets
14:44 Rosterminalugol shipped 21 million tonnes of export coal over 10M’2021
14:21 BAE Systems launches next-generation power and propulsion system to help marine operators reach zero emissions
13:55 MABUX: Bunker Weekly Outlook, Week 47, 2021
13:12 Kongsberg Maritime and Norsepower MoU agreement facilitates Rotor Sail integration for shipowners
12:31 Sea Port of Saint-Petersburg allocated over RUB 21 million for implementation of its environmental programme
12:06 Port of Kiel describes path to climate neutrality by 2030
11:06 Third Finnlines hybrid ro-ro launched in China Merchants Jinling Shipyard
10:35 Mitsubishi Heavy Industries receives a major turbomachinery order for Ust-Luga LNG export plant
10:31 MABUX: Bunker prices may demonstrate slight upward changes on Nov 25
10:30 Navigation season closed on Volga-Baltic Waterways
10:06 Port of Long Beach named the best West Coast Seaport in North America
09:41 Oil market sees mixed price movements
09:22 Baltic Dry Index as of November 24
09:08 The second of Damen’s new Shoalbuster 2711 class handed over to Ports of Jersey in christening ceremony
08:16 Port of Los Angeles issues zero-emissions truck request for proposals
06:00 Stockholm fairway smart buoy powered by solar energy

2021 November 24

18:35 Wan Hai Lines awarded “Container Shipping Line of The Year India-Far East Trade Lane”
17:33 Volga Shipping's freight transported this year’s inland shipping season reached 8.2 million tonnes
17:25 Bahri bags four prestigious awards
17:09 Langh Ship and Outokumpu deepen the cooperation by starting a newbuilding project
16:35 Equinor signs four new contracts with Aibel
16:15 Austal USA awarded US$72.5 mln contract to maintain LCS deployed in Western Pacific
15:32 BAE Systems launches next-generation power and propulsion system to help marine operators reach zero emissions
15:29 Tanjung Pelepas Port achieves 10 million TEUs in 2021
15:27 Ten-month vessel traffic at Ukraine’s seaports rose 1.5%
14:23 Nevsky Shipyard slated a keel-laying ceremony for 17050 RVs duo for Nov 26