• 2019 March 29 10:50

    MABUX: Bunker Market this morning, March 29

    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) demonstrated irregular changes on Mar. 28

    380 HSFO - USD/MT 414.00 (+1.71)

    180 HSFO - USD/MT 461.00 (+1.36)

    MGO - USD/MT 633.64 (-0.50)

    Meantime, world oil indexes demonstrated slight downward changes on Mar. 28

    Brent for May settlement decreased by $0.01 to $67.82 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for May delivery fell by $0.11 to $59.30 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of 8.52 to WTI. Gasoil for April delivery declined by $8.25. 
    Today oil indexes are rising, pushed up by ongoing supply cuts led by producer club OPEC and U.S. sanctions against Iran and Venezuela.

    Oil prices have been supported for much of 2019 by the efforts of OPEC and non-affiliated allies like Russia, who have pledged to withhold around 1.2 million barrels per day (bpd) of supply this year to prop up markets. OPEC+ are meeting in June to discuss whether to continue withholding supply or not. OPEC's de-facto leader Saudi Arabia favors cuts for the full year while Russia, which only reluctantly joined the agreement, is seen to be less keen to keep holding back beyond September.

    However, the OPEC+ cuts are not the only reason for rising oil prices, U.S. sanctions on oil exporters and OPEC members Iran and Venezuela as reasons for the surge .

    On top of U.S. sanctions, power cuts have crippled Venezuela’s oil industry. The country’s main oil export port of Jose and four crude upgraders, needed to convert Venezuela’s heavy oil into exportable grades, have been halted since March 25. 

    U.S. sanctions have also hit Iranian crude exports. In early May, analysts expect the United States will extend some sanction waivers on Iranian oil but might reduce the number of countries receiving them. The 180-day exemptions were granted in November 2018 to eight countries - China, India, Greece, Italy, Taiwan, Japan, Turkey and South Korea. The main aim of the Washington is to bring Iranian oil exports to zero. 
    Despite the surging prices, analysts are expressing concerns about future oil demand amid worrying signs the global economy may move into a recession. Stock markets have been volatile this year amid signs of a sharp global economic slowdown.

    Prices are pressured by demand concerns on the back of economic tension linked to the U.S.-Chinese trade war. In a fresh development, China has made unprecedented proposals on a range of issues, including forced technology transfer, as the two sides work to end their protracted dispute. Today U.S. and China resume trade talks in Beijing.

    U.S. President Donald Trump sent out on March 28 his second tweet of the year on oil, calling on OPEC to raise production and bring down prices of the commodity. The market initially sunk as much as 1% as the president reignited his battle with OPEC. But by the close, it recovered most of those losses, settling just slightly lower. Trump tweets were among the factors that contributed to last year's 25% crash in oil prices. But compared to his last tweet on oil that pulled crude prices down as much as 3%, market action showed the president may be losing his influence over traders, as well as OPEC.

    Expect bunker prices to demonstrate slight downward changes today: difference around 1-3  USD for IFO, 4-7 USD down for MGO.


2020 July 7

18:06 ZIM unveils new digital services
17:49 Great Arctic Regatta started in Saint Petersburg
17:27 Crude exports via Kozmino in HI’2020 grew by 5% YoY
17:02 Deepsea Atlantic drilling rig returning to Johan Sverdrup
16:35 Optimarin successfully completes IMO G8 and USCG test programme
16:12 Alfa Laval takes its service offer to the next level through remote service guidance
15:56 New ferry line Baltic Link launched at the port of Riga
15:28 RF Government allocates RUB 320 million to subsidize shipping companies
15:02 ABP delivers project cargo using North Lincolnshire’s waterways
14:32 Air Liquide and the Port of Rotterdam Authority launch initiative for hydrogen road transport
14:02 Konecranes to deliver mobile harbor crane to new terminal in Trieste
13:46 Bunker prices rise at the Far East ports of Russia (graph)
13:32 KNOT concludes long-term charter contract with PetroChina for shuttle tanker
13:11 CMA CGM announces GRR from Asia to West Africa
12:49 Throughput of Vostochny Port in HI’2020 grew by 6% YoY
12:30 GTT Training and Wavelink Maritime Institute in collaboration to deliver LNG training in Singapore
12:23 Tom Hautekiet becomes new CEO Port of Zeebrugge
12:01 IMO endorses guidance on ensuring seafarers’ access to medical care onshore
11:58 NRP facilitates long-term financing for a newbuilt arctic container vessel
11:00 The CMA CGM Group simplifies its trade network on the Transpacific trade
10:52 First jacket successfully installed at Moray East, Scotland’s largest offshore wind farm
10:52 Aker Arctic joins ePIcenter project
10:14 MABUX: Bunker market this morning, July 07
10:08 Zvezda shipyard starts steel cutting for nuclear-powered icebreaker Rossiya, Project 10510
09:31 Oil prices are decreasing
09:13 Baltic Dry Index as of July 6
08:40 Klaveness Combination Carriers secures the first sustainability linked bank financing in Norwegian shipping

2020 July 6

19:07 Equinor awarded framework contract for engineering and installation services on Statfjord
18:27 CMA CGM to launch Round the Africa service
18:07 APM Terminals Buenos Aires facilitates first ever export of lemons from Argentina to China
17:31 Northern Sea Route cargo traffic in 6M’2020 reached 14.8 million tonnes
17:30 Kloosterboer starts construction of Cool Port II at City Terminal Rotterdam
17:06 ArcelorMittal issues invitation to tender for heat network in North Sea Port
16:45 Damen delivers five zero emissions propulsion ferries to Arriva in Copenhagen
16:12 Kvaerner improves financial results and outlook
15:32 Average wholesale prices for М-100 HFO fell to RUB 9,623 in RF spot market
15:08 EMSA’s RPAS to support Finnish, Estonian and Swedish Coast Guard functions
14:05 Zvezda Shipyard lays down fifth Aframax tanker, Nursultan Nazarbayev
13:33 Throughput of Port Vysotsky in 6M’2020 fell by 16.5% YoY
13:10 CMA CGM announces PSS from the Indian Subcontinent, Middle East Gulf, Red Sea & Egypt Red Sea ports to the US Gulf, US East Coast & Canada East Coast
12:00 Sembcorp Marine President & CEO appointed Co-chair of International Advisory Panel on Maritime Decarbonisation
11:01 A.P. Moller - Maersk to acquire European specialist KGH Customs Services
11:00 The car carrier Höegh Xiamen declared a constructive total loss after fire
10:31 IMO is holding an informal (virtual) preliminary discussion session on short-term measures for reducing GHG emissions from ships
10:22 MABUX: Bunker market this morning, July 06
10:00 GTT receives an order from Zvezda for the tank design of five ARC7 ice-breaking LNG carriers
09:56 Republic of Korea implements national sulphur emission control area
09:47 Tallink Grupp cancels Riga-Saaremaa direct special trip
09:29 AS Tallink Grupp published its statistics for June 2020 and 2Q of 2020 financial year
09:13 Baltic Dry Index as of July 3

2020 July 5

15:02 FURUNO acquire EMRI A/S, Danish based provider of advanced ships Maneuvering and Steering Systems
14:51 HamiltonJet partners with RIBCRAFT to power 48 US Navy RHIBs
13:42 Ingalls Shipbuilding awarded $936 million contract to build navy destroyer
12:18 Huisman to deliver offshore mast crane for wind turbine installation in Taiwan
10:44 USCG assists disabled vessels near Freeport, Texas

2020 July 4

15:01 APL announces storage arrangements for China reefer imports
14:39 MAN to supply compression technology for offshore gas production
13:28 Naval Group selected iXblue to supply navigation systems for Gowind-class vessels
12:33 USCG halts illegal charter, rescues 2 on disabled jet ski near Venetian Causeway Bridge
11:04 DNV GL: Ports can be the front runners of the energy transition, if port authorities and industry sectors join forces