• 2019 May 20 08:59

    MABUX: Bunker market this morning, May 20

    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) continued upward trend on May 17:

    380 HSFO - 418.57(+7.43)
    180 HSFO - USD/MT - 464.79(+6.86)
    MGO - USD/MT - 668.64(+5.43)

     Meantime, world oil indexes edged lower on May 17 due to demand fears amid a standoff in Sino-U.S. trade talks.

    Brent for July settlement decreased by $0.41 to $72.21 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for June delivery dropped by $0.11 to $62.76 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of 9.45 to WTI. Gasoil for June lost $8.25.

    Today morning oil indexes have turned into slight upward correction.

    The escalating trade war between the U.S. and China is keeping oil prices subdued, but the fear premium seems to be growing as tensions across the Middle East threaten outages.

    Last week President Trump essentially blacklisted Chinese telecom giant Huawei Technologies from operating in the U.S., escalating the standoff with China. The Chinese government offered a cautious tone in response to trade actions from Washington, but Beijing and state media are taking an increasingly strident line, which suggests China is not close to backing down. China’s currency slid on the news, as did the Shanghai Composite Index.

    The IEA downgraded its demand estimate for 2019 by 90,000 bpd, as a result of an unexpectedly oversupplied first quarter.  The lower demand figure ultimately meant that the global oil market was in surplus in the first quarter by about 0.7 million bpd, a larger glut than expected. As per IEA, the U.S.-China trade war could complicate the situation. The OECD estimates that last year’s round of tariffs shaved off a quarter percentage point from GDP in both countries. The latest increase in tariffs could double the impact to a half percentage point by 2020. The IEA’s resume is that the oil market is sending mixed signals. Weaker demand combined with supply outages and slowing but still significant production growth – it gives a confusing picture in which the market is tightening.

    After about two weeks of rapid escalation in tension between the U.S. and Iran, there might be some signs of the de-escalation attempts made by the U.S. side. President Trump met with Swiss President Ueli Maurer last week. The Swiss have acted as a backchannel for U.S.-Iran talks in the past, which raised speculation that the White House might be trying to decrease the tension. Privately, Trump has said he doesn’t want war with Iran.

    No increased threat seen in Iraq, despite U.S. embassy withdrawal. Royal Dutch Shell said that it was monitoring the security situation in Iraq after the U.S. pulled out embassy staff in Baghdad due to an alleged threat from Iran. Shell, ExxonMobil, BP and others are operating as usual. The decision to remove some workers appears to be a political decision.

    The assault on Tripoli by the Libyan National Army (LNA) has fallen into a deadlock, and the ongoing fighting shows no sign of nearing resolution, despite calls for a ceasefire by global powers. For weeks, Libya’s oil production has held up surprisingly well. Output even rose a bit in April by 71,000 bpd, reaching 1.176 million barrels per day (bpd). The increase is impressive in the context of the outbreak of civil war. But even though Libya managed to prevent production and export outages over the last few weeks, it’s not clear that successful streak can continue, especially because a stalemate between the two fighting factions (LNA and the internationally-recognized Government of National Accord (GNA))
    only increases the odds of an outage.

    The recent attacks on Saudi oil tankers near the Persian Gulf could increase the cost of insurance and security, which may ultimately push up oil and fuel prices.

    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 sixth week in a row. The total number of active oil drilling rigs in the United States fell by 3 to reach 802. The combined oil and gas rig count is 987, with oil seeing a 42-rig decrease year on year. US oil production, too, fell for two weeks in a row, with week ending May 10 coming in at 12.1 million bpd—200,000 bpd off the April 26 high of 12.3 million bpd.

    We expect bunker prices may slightly decline today in a range of minus 2-7 USD.




2020 August 13

10:17 Sea Port of St. Petersburg H1 cargo volume rose 3%
10:14 MABUX: Bunker market this morning, Aug 13
09:52 Crude futures prices retreat
09:32 Baltic Dry Index as of Aug 12
08:26 ME-GI engine sails through sea trials

2020 August 12

18:57 Risavika LNG index for September up by 8.9 % week on week
18:27 Andreas Rieckhof new Chairman of Hamburg Messe und Congress GmbH Supervisory Board
18:08 At the three Hamburg container terminals throughput volume down 12.0 % in H1 2020
18:07 Sri Lanka Ports Authority assures safe handling of dangerous cargo under UN regulations
17:47 Rosmorport’s Azov-Black Sea branch adds TSHD Sommers to its fleet
17:43 Boluda Towage Europe takes on two new tugs from Damen Shipyards Group
16:49 Investors set to inject in excess of RUB 19 bn in federal port infrastructure facilities development
15:44 MoD eyes placing more orders for the Steregushchiy class corvettes with Amur Shipyard
15:17 Joint R&D Starts for Use of Ammonia in Marine Transportation to Reduce GHG Emissions
14:47 CMA CGM announces PSS from Asia to North Europe
14:21 MST wins contract for building 19m high-speed patrol craft duo for the Royal Navy
14:03 MOL issues an update on the Capesize bulker "Wakashio" aground off Mauritius
13:20 Port of Kiel constructs the new port apron
12:01 THE Alliance announces COVID-19 response measures for September 2020
11:57 Northern Sea Shipping acquires the MV Siyaniye Severa
10:36 LNG vessel completes 10,000th Neopanamax transit at the Panama Canal
10:02 Crude futures prices continue upward trend
09:32 Baltic Dry Index as of Aug 11
09:00 MABUX: Bunker market this morning, Aug 12

2020 August 11

18:07 Saigon Newport chooses Kalmar Essential Terminal Tractor for Cat Lai Terminal
17:43 Global Industry Alliance developes Just In Time Arrival Guide
17:36 Maersk Tankers hires Eva Birgitte Bisgaard as its new Chief Commercial Officer
17:00 CMA CGM announces PSS from Asia to North Europe
16:35 NORDEN adds 2 vessels to the existing newbuilding contract with NACKS
16:22 Murmansk Sea Fishing Port’s handled volumes in Jan-Jul dropped 12.7%
15:34 PETRONAS Research joins FASTsubsea’s subsea pump development
15:18 SCF Group's Igor Tonkovidov: Shipowners’ ability to compete with each other will be increasingly determined by their readiness to adopt advanced technologies
14:03 Houlder wins contract for Isle of Man Steam Packet Company’s new purpose-built vessel
13:39 IMO assists in MV Wakashio oil spill response
13:11 Cameron LNG Train 3 begins commercial operation
12:56 Seven-month crude exports via CPC Marine Terminal fell 1.4%
12:29 Port of St. Peterburg Captain releases new allowable drafts in Greater Port St.Petersburg basin
12:05 The Standard Club issues Guidelines for the use of electronic record books (ERBs) under MARPOL
11:08 Port of Ust-Luga based Multipurpose Reloading Complex steps up its efforts to protect the environment
11:04 Transhipment in North Sea Canal ports down by more than 10 percent due to coronavirus crisis
10:31 CSP Abu Dhabi Terminal launches new direct services to Europe and Indian Subcontinent
10:15 MABUX: Bunker market this morning, Aug 11
09:54 Crude futures prices extend upward trend
09:33 Baltic Dry Index as of Aug 10
09:08 Average spot market price for Russian M100 product soars to 11,582 rub/mt

2020 August 10

17:20 HMM joins forces with CMA CGM on TTI Algeciras operation
17:19 Commercial Port of Vladivostok's seven-month container volumes rose 8.1%
17:12 APM Terminals to acquire ALC´s container terminal in Aarhus
17:06 IMO sets remote meeting plan for September-December 2020
16:57 Capesize bulker “Wakashio” aground off Mauritius
16:47 Freight traffic at Russian seaports in Jan-Jul fell 2.1%
15:58 Seven-month coal throughput at Port Vysotsky falls 7.5%
14:27 Vostochnaya Verf launches Grachonok-class anti-saboteur boat (Project 21980) for Pacific Fleet
13:28 ONEGO Shipyard launches a self-propelled hopper barge "Morskaya"
13:22 IMO report on GHG finds a decoupling between trade and emissions in shipping
12:20 Anders Opedal taking over as president and CEO of Equinor from 2 November 2020
10:21 Diana Shipping announces time charter contract for m/v Melia with Ausca
10:17 Containerships and APM Terminals Gijon form eco-friendly intermodal solution connecting Spain, UK and Ireland
09:31 Crude futures prices take upward trend
09:06 Baltic Dry Index as of Aug 7