• 2019 May 13 08:26

    MABUX: Bunker market this morning, May 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) did not have any firm trend on May 10:

    380 HSFO - USD/MT - 414.43 (-0.07)
    180 HSFO - USD/MT - 461.64 (0.00)
    MGO - USD/MT - 655.29 (-0.71)


    Meantime, world oil indexes were mostly steady on May 10, ending last week slightly lower as trade tensions stoked by a U.S. move to hike tariffs on Chinese goods overshadowed tightened global supplies and expectations of rising U.S. refining demand.

    Brent for July settlement increased by $0.23 to $70.62 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for June delivery declined by $0.04 to $61.66 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of 8.96 to WTI. Gasoil for May unchanged: $632.25.

    Today morning oil indexes turned into slight downward trend.

    Brent crude futures have opened up a steep backwardation, evidence that the physical market for crude is tightening. Yet, spot prices have fallen in the last two weeks.
     
    The U.S. hiked tariffs on $200 billion of Chinese goods from 10 to 25 percent on May 10, while leaving open the possibility that trade talks could continue. Trump also began the process of new tariffs on another $325 billion in Chinese imports. China vowed to implement retaliatory measures. Growing trade tensions between the world’s two largest oil consumers could affect oil and fuel demand. The United States and China together accounted for 34% of global oil consumption in the first quarter of 2019.

    Investors also focused on tightened supplies following OPEC-led production cuts since the start of the year. Investors believe the Organization of Petroleum Exporting Countries and its producer allies will extend the six-month output-cut agreement in coming weeks. Meantime, Saudi Arabia is holding firm on oil exports despite the tightening market. Saudi oil exports are expected to remain below 7 million bpd in June, with production also below the OPEC+ ceiling.

    The U.S.-Iran conflict escalated last week, with rhetoric on both sides growing more heated. Iran said it would withdraw from parts of the nuclear deal, and top U.S. officials hinted at a military response. Washington also imposed sanctions on metals exports from Iran. Iran warned the EU to step up incentives or else it will fully withdraw from the 2015 accord. Meanwhile, Iran’s oil exports are plunging.

    The U.S. Maritime Administration issued in turn a maritime advisory warning that since early May, there is an increased possibility that Iran and/or its regional proxies could take action against U.S. and partner interests, including oil production infrastructure, after recently threatening to close the Strait of Hormuz. Iran or its proxies could respond by targeting commercial vessels, including oil tankers, or U.S. military vessels in the Red Sea, Bab-el-Mandeb Strait, or the Persian Gulf.

    The number of active oil and gas rigs fell again in the United States last week after a string of losses in the weeks prior, keeping the overall rig count well below year-ago levels for a fourth week in a row. The total number of active oil and gas drilling rigs in the United States fell by 2, with the number of active oil rigs falling 2 to reach 805 and the number of gas rigs holding steady at 183.  The combined oil and gas rig count is down 57 year on year. While the United States has seen a significant drop in the number of active oil and gas rigs, US oil production continues to rise.  US crude oil production fell slightly for week ending May 3, standing at 12.2 million barrels, easing off last week’s all-time high of 12.3 million barrels per day.

    We expect bunker prices will not have any firm trend today and may change irregular in a range of plus-minus 1-3 USD.




2021 July 24

15:02 Union Pacific reports 2Q 2021 results
13:29 Major £10M project aims to unlock untapped potential of ocean renewable energy fuels
12:37 LR: Turning to technology to tackle container ship fires
11:14 Survitec enhances lifeboat inspection solution to deliver savings and flexibility for ship operators

2021 July 23

18:27 EBRD and Ukraine boost low-carbon hydrogen development
18:03 ROSATOM and GDK Baimskaya LLC sign agreement to jointly supply energy to Baimsky plant
17:58 Van Oord signs contract with the Spanish energy company Iberdrola for the Baltic Eagle offshore wind farm
17:50 Chantiers de l’Atlantique completes installation of EGCS on three MSC Cruises vessels
17:41 ROSATOM and Aeon Corporation agree to Arctic shipping cooperation
17:32 RWE, Shell, Gasunie and Equinor sign a declaration of intent on the AquaSector project
17:18 Rosatom and DP World sign Cooperation Agreement
16:55 RosGeo eyes exploration of solid mineral deposits in the Persian Gulf
16:32 Learn the latest global LNG trends with LNGcon 2022
16:30 ROSATOM and Moscow State University’s Marine Research Centre sign cooperation agreement on environmental impact assessment in Arctic
16:07 Rosatom expects transit cargo flow along NSR to reach 20-30 million tonnes per year by 2030
15:39 ROSATOM and Nornickel sign supplementary agreement on icebreaker accompaniment
15:01 Sea Port of Saint-Petersburg handled 4.1 million tonnes of cargo in H1’21, up 12% YoY
14:36 Recovery of investments in offshore geological exploration not expected by RosGeo before 2022
14:14 Wärtsilä to provide thrusters for two Chinese wind farm turbine installation vessels
13:40 RosGeo: Deposits in shallow waters and estuaries should be taken into account when developing Arctic resources
13:12 A deep sea mineral riser system reviewed by ABS in an industry first
12:48 Nornickel set to expand and upgrade Dudinka port
12:11 Maersk changes the logistics landscape in Bulgaria and launches intermodal weekly service connecting Burgas to Plovdiv and Sofia
12:09 Ningbo Containerized Freight Index rises in July 2021
11:43 Vietnamese Navy ships arrived in Vladivostok to participate in Russian Navy Day celebration
11:11 GTT receives orders for the tank design of two new LNG сarriers
11:07 Integrated drill of emergency response teams conducted at CPC Marine Terminal near Novorossiysk
10:45 Alexei Rakhmanov: USC saved nearly RUB 18 billion in 2021 through cost optimization
10:24 Baltic Dry Index as of July 22
10:06 Crude oil market sees downward price correction
09:48 Russian Maritime Register of Shipping supports the 4th International Conference “Development of Icebreaking and Support Fleet”
09:30 China ports container volume rises 15% in first half of 2021
09:27 Alexei Rakhmanov: USC is set to open up routes that do not depend on foreigners
09:09 Sea Port of Saint-Petersburg handles high-speed train intended for Uzbekistan Railways
08:40 MABUX: Global bunker prices may continue firm upward trend on Jul.23.

2021 July 22

19:00 Northern Sea Route cargo traffic rose by 2.59% to 17,047,282 tonnes YTD
18:35 Equinor Brasil Energia awarded a contract to Floatel Victory
18:05 Solstad Offshore ASA announces new contract for the CSV Normand Jarstein to DeepOcean AS
17:55 Manila Harbor Center aids PH Coast Guard’s substation project
17:25 Suek AG supramax vessel Kumpula to sail through Northeast Passage
17:05 US FMC establishes Ocean Carriers Audit Program
16:25 Survitec enhances lifeboat inspection solution to deliver savings and flexibility for ship operators
16:05 RINA and SWS mark a new era in Cruise shipbuilding in China
15:27 Multipurpose Reloading Complex in Ust-Luga handled 2.24 million tonnes of coal in H1’21, up 4% YoY
15:22 DBS partners maritime players and MPA to complete Singapore’s first live bunker delivery financing pilot with digital bunker delivery note
15:11 Two new hybrid LNG-electric ships join to the Brittany Ferries fleet
15:05 Second batch of oversize equipment for Amur GCC reloaded in De-Kastri
14:42 CMA CGM to launch a new Indian Ocean feeder service
13:21 DCT Gdańsk Welcomes New CEO – Charles Baker
13:20 Port of Rotterdam posts H1 2021 results
12:58 Seven entities interested in investing in Port Gdański Eksploatacja
12:03 Shipping industry announces international decarbonisation conference at COP26
11:03 Boskalis awarded contract for deepening the approach channel to harbor of Harwich, UK
10:29 Transport Canada issues new Ballast Water Regulations
10:24 Rosmorport completes repair dredging at Vostochny seaport
09:53 Crude oil market sees downward price correction
09:36 IAA PortNews opens registration for 4th International Conference “Development of Icebreaking and Support Fleet”
09:22 Baltic Dry Index as of July 21
08:31 MABUX: Global bunker prices may continue firm upward evolution on Jul 22

2021 July 21

18:30 MSC Cruises restart its activity in the Port of València