• 2019 April 26 09:27

    Bunker Market this morning, April 26

    The Bunker Review was contributed by Marine Bunker Exchange

    Brent sliped on Thursday from $75 per barrel as investors doubt rally will endure

    Oil prices eased after Brent touched $75 per barrel on Thursday for the first time in nearly six months on the suspension of some Russian crude exports to Europe as investors second-guessed the market’s ability to rally further.

    Brent crude futures settled at $74.35, losing 22 cents, or 0.30 percent, after rallying for most of the day to a high of $75.60, the strongest since Oct. 31.

    U.S. West Texas Intermediate crude settled at $65.21 a barrel, falling 68 cents, or 1.03 percent, after hitting a session high of $66.28.

    Prices began to slip just before the settlement in a technical move, analysts said.

    Poland and Germany suspended imports of Russian crude via the Druzhba pipeline, citing contamination. The pipeline can ship up to 1 million barrels per day, or 1 percent of global crude demand, and about 700,000 bpd of flow was suspended, according to trading sources and Reuters calculations.

    Russia, the world’s second-largest crude exporter, said it planned to start pumping clean fuel to Europe through the pipeline on April 29.

    The United States this week said it would end all exemptions for buyers of Iranian oil. OPEC’s third-largest producer has been under U.S. sanctions for more than six months, but several major buyers, including China and India, were given temporary exemptions until this week. Beginning in May, those countries have to halt oil imports from Tehran or face sanctions.

    Still, Brian Hook, U.S. special representative for Iran and senior policy adviser to the secretary of state, said on Thursday “there is plenty of supply in the market to ease that transition and maintain stable prices”.


    Oil Market's Friday start

    Oil prices ease on Friday expectation that OPEC will raise output

    Oil prices dipped on Friday on expectations that producer club OPEC will soon raise output to make up for a decline in exports from Iran following a tightening of sanctions by the United States against Tehran.

    The dip followed Brent’s rise above $75 per barrel for the first time this year on Thursday after Germany, Poland and Slovakia suspended imports of Russian oil via a major pipeline, citing poor quality. The move cut parts of Europe off from a major supply route.

    But prices were already gaining before the Russian disruption, driven up by supply cuts led by the Middle East dominated Organization of the Petroleum Exporting Countries (OPEC) and U.S. sanctions against Venezuela and Iran. Crude futures are up around 40 percent so far this year.

    To make up for the shortfall from Iran, the United States is pressuring OPEC’s de-facto leader Saudi Arabia to end its voluntary supply restraint.

    Energy consultancy FGE said “the need is now very apparent for OPEC+ to take action and increase production” in order to keep markets well supplied and prevent prices from spiking.

    Despite U.S. efforts to drive Iranian oil exports down to zero, many analysts expect some oil to still seep out of the country.

    “A total of 400,000 to 500,000 barrels per day of crude and condensate will continue to be exported,” said FGE, down from around 1 million bpd currently.

    Most of this oil would be smuggled out of Iran or go to China despite the sanctions.

    China, the world’s biggest buyer of Iranian oil, this week formally complained to the United States over its unilateral Iran sanctions.

    Oil Future close 25th April:
    Brent: $74.35(-0.22)pbr
    WTI: $65.21(-0.68)pbr
    MGO: $646.25(+2.00)/mton
    NY Harbor Ulsd: $$645.92(-0.19)/mton


    Oil Future trading at GMT: 05.56; Brent:-13 cents, WTI:-29 cents. General Market tendency irregular, not knowing which way to go.

    Expect bunker prices little change except for Fuel Oil based on NYMEX down 4-5 usd/mton.




2021 September 18

15:07 Energy-saving investments clear the way for shore-based power
13:49 GROUPE IDEC is developing the first XXL energy - positive activity park in Europe
12:41 IMOCA extends relationship naming Iridium and Thales as official communications partners
11:37 Tanguy de Lamotte will spearhead electric boat revolution in the US
10:49 Industry alarmed as spat between governments threatens investment in Scottish ports – BPA

2021 September 17

17:49 New radar post to increase navigation safety in the seaport of Kaliningrad
17:26 Svanehøj acquires Wärtsilä Tank Control Systems
17:06 Navigator Gas awarded DNV AiP for new ammonia fuelled gas carrier design
16:47 Zelenodolsk Plant named after M. Gorky launches small-size missile ship Grad
16:31 PIL launches new South China to India West Coast Service - South China India Express
16:05 De Beers’ latest diamond recovery vessel departs Damen Shipyards Mangalia for Southern Africa
15:46 Port of Melbourne CEO announces retirement
15:25 Transneft Baltic holds large-scale firefighting and tactical drills at Ust-Luga Oil Depot
14:18 Grain traders to address RF Ministry of Agriculture and ask it revise grain export duty calculation system
13:27 Rostov Grain Terminal handled 80,000 tonnes of grain in August 2021
12:10 APM Terminals Poti marks two years without injury and celebrates its safety culture
11:56 Vitol’s V-Bunkers to bring electric-hybrid bunker tankers to Singapore harbour
11:05 ABS and DSME to develop very large liquefied CO2 carrier
10:55 DP World to invest £300m in new fourth berth at London Gateway logistics hub
10:34 Severnaya Verf shipyard launches third processing trawler of Project 170701, Kapitan Ostashkov (video)
09:58 The Port of Calais officially inaugurated
09:26 Crude oil market sees downward price correction
09:23 MABUX: No firm trend is registered on global bunker market on Sep 17
09:09 Baltic Dry Index as of September 16

2021 September 16

18:35 Boskalis completes EUR 100 million share buyback program
17:30 Construction of port Lavna kicked off in Murmansk Region
17:21 APM Terminals opens first “Fast Corridor” between Vado Ligure reefer terminal and inland customers in Italy
17:05 Wärtsilä cloud simulation now available on-demand via OTG’s Ocean Learning Platform
16:41 Evergreen’s Ever Ace with WinGD’s large bore X92 bore size engines crossed the Suez Canal
16:14 The new Port of Calais officially inaugurated after six years of construction
15:45 Southampton’s newest cruise terminal officially opened
15:35 Organizers of International Conference “Development of Icebreaking and Support Fleet“ offer the event programme
15:14 Dublin Port publishes Port Infrastructure Charges Pricing Strategy 2022 to 2026
14:53 Port of Oakland beef export volume up 25 percent in Jan - July 2021
14:37 UK ports welcome public support for clean maritime projects
14:26 IVECO and Nikola sign MoU with Hamburg Port Authority for zero-emission Class 8 battery-electric trucks
13:40 SMM Maritime Industry Report (MIR) shows industry on track for sustainability
13:16 MABUX: Bunker Weekly Outlook, Week 37, 2021
13:02 Port of Los Angeles cargo volume exceeds 954,000 TEU in August 2021
12:11 Sharrow Marine announces plans to roll out an exclusive OEM Sharrow Propeller™ Boatbuilder Program
11:47 TransContainer arranged transit transportation from Korea to Turkey via Far East and Novorossiysk ports
11:24 DOF Group announces new contracts in Brazil
11:02 Cargo-passenger ferry Pavel Leonov arrived at Korsakov, the ship’s homeport
10:38 Capacity of Vostochny Port’s multipurpose complex to be raised to 117,000 TEUs per year
10:21 Norwegian Ministry of Petroleum and Energy sees great interest in the Norwegian continental shelf
10:13 DFDS acquires ICT Logistics
09:49 Crude oil prices continue rising driven by data on reduction of reserves
09:30 Maersk acquires a Portuguese cloud-based logistics start-up HUUB
09:16 Baltic Dry Index as of September 15
09:15 MABUX: Global bunker prices may rise sharply on Sep 16
08:28 Castor Maritime announces new charter agreements

2021 September 15

18:43 Royal Phuket Marina’s inner-channel dredging project to deliver round-the-clock access for boats up to 35 metres
18:37 NJEDA and PSEG sign 78-year lease for the New Jersey Wind Port
18:17 PGS sets multiple acquisition records
17:55 Nefteflot lays down two ships of Project RDB 66.62
17:31 Subsea 7 awarded FEED contract in Norway
17:30 Gazpromneft Snabzheniye and Yamal-Nenets Autonomous Region to develop industrial and logistics park Obsky Prichal in Labytnangi
17:09 bp and NYK Line join forces to help decarbonise hard-to-abate sectors
16:57 SFL sells seven handysize bulk carriers
16:51 Yantar shipyard launches production of thermal and sound insulation