• 2019 May 24 09:16

    MABUX: Bunker market this morning, May 23

    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) decreased on May 22:

    380 HSFO - 417.00 (-2.21)
    180 HSFO - USD/MT - 464.64 (-2.00)
    MGO - USD/MT - 662.43 (-3.14)


    Meantime, world oil indexes also declined on May 22 as the prospect of mounting U.S.-Iran tensions disrupting supply was offset by concerns that a lengthy trade war between Washington and Beijing would limit crude demand.

    Brent for July settlement decreased by $1.19 to $70.99 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for July delivery fell by $1.71 to $61.42 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of 9.57 to WTI. Gasoil for June lost $12.50.

    Today morning oil indexes continue slight downward movement.

    Over the past week, oil prices have trended higher as concerns about escalating U.S.-Iran and Iran-Saudi standoffs have overshadowed bearish-side concerns about the U.S.-China trade war and slowing global economic growth. The rising tension in the Middle East and the critical oil tanker waterways in the region have had some forecasts return to talking about Brent Crude hitting US$80, US$90, or even US$100 a barrel, compared to the current level of around US$72 per barrel. JP Morgan, however, thinks that the return of the geopolitical risk premium in oil prices could be only for the short term, as U.S. shale production continues to grow, while global oil demand may falter amid uncertainties in the world’s economy.  

    OPEC+ reportedly discussed two options for increasing production in the second half of the year. The group weighed a plan that would end over-compliance with the cuts, which could add 0.8 million bpd of supply back onto the market. Or, the group could agree to trim the cuts from 1.2 to 0.9 million bpd. However, the group will wait until the June meeting in Vienna to make a decision, and many members are inclined to extend the cuts.

    President Trump said that any trade deal with China must skew in favor of the U.S. because of past trade actions by China. The message seems to lower odds of a breakthrough in the weeks ahead. Meanwhile, the Trump administration lifted steel tariffs on Mexico and Canada.

    U.S. Secretary of Energy Rick Perry said that a sanctions bill on the Nord Stream 2 pipeline would come in the not too distant future. Separately, Gazprom said that delays in getting permits from Denmark could push off the in-service date of the project into 2020 from late 2019.

     U.S. shale operators are on course to boost production by 16 percent this year. That could put output up 1.1 to 1.2 million bpd by the end of the year. Despite temporary challenges faced in the beginning of the year, E&P companies are set to deliver on their original production and capital targets, with some being well positioned to perform above initial expectations. Several operators have in fact raised their production guidance for the remainder of the year.

    We expect bunker prices will continue downward trend: 5-7 USD down for IFO, 9-12 USD down for MGO.




2020 December 1

18:51 Kongsberg Digital announces release of first cloud-based simulation service for maritime radar training
18:32 Oil shipments via CPC Marine Terminal in 11M’20 fell by 5.8% YoY
18:16 ABP appoints new Divisional Port Manager for Wales & South West
17:59 Onezhsky Shipyard lays down second serial crab catching ship for Russian Crab Group
17:40 Rosmorport took part in discussion dedicated to Russia’s digital transport and logistics
17:26 Wilhelmsen's Additive Manufacturing service delivered CE-Certified 3D printed lifting tool for Wärtsilä
17:14 Stena Line takes delivery of third new ferry to join Irish Sea fleet in 2020
17:05 Diana Shipping announces time charter contract for m/v Artemis with Glencore
16:43 Bunker prices rise in the Far East ports of Russia (graph)
16:24 Sea Terminal “Tuloma” obtaines status of Arctic Capital PDA resident
16:18 NYK concludes long-term charter agreement for two methanol-fueled chemical tankers
16:05 Samskip ramps up presence in Central Eastern Europe
15:39 Ships of RF Navy’s Black Sea Fleet begin new training year in the Mediterranean
15:07 Georgia Ports Authority reaches a major milestone on its Mason Mega Rail Terminal
14:58 CMA CGM announces FAK rates from North Europe to Canada, Mexico East Coast and USEC, USGULF & USWC
14:52 Zvezda Shipyard lays down yet another Aframax tanker for Sovcomflot
14:13 Small missile ship Ingushetia of RF Navy’s Black Sea Fleet returns from Mediterranean Sea
13:48 Astrol-2, second dry cargo carrier of Project RSD59, put into operation
13:27 Record number of 15 winners for MPA’s International Safety at Sea Awards
13:21 Turbine installation at Belgium’s largest offshore wind farm crosses the finish line
13:06 RS introduces requirements for additive manufacturing products
12:50 ICTSI Iraq delivers record performance
12:32 NOVATEK commenced LNG sales of ISO containers to China
12:30 Finnlines orders Wärtsilä engines and hybrid systems for its two new eco-friendly ferries
12:09 SITC International signs newbuilding contracts with Yangzijiang Shipbuilding
11:51 MOL completes new research and development center in Százhalombatta
11:30 Russian Railways' network loading fell by 3% in 11M’ 2020
11:07 Port of Mackay maintenance dredging set to begin
10:55 Damen supports 4th International Congress “Hydraulic Engineering Structures and Dredging” as its General Sponsor
10:38 MABUX: Bunker market this morning, Dec. 1
10:22 Admiral Gennady Nevelskoy ferry completes its commissioning trials
10:04 Wan Hai Lines to launch China – East India V (CI5) Service
09:46 Minerva Bunkering introduces the Advanced Delivery Platform
09:40 Oil prices continue decreasing
09:23 Baltic Dry Index as of November 30
09:15 Five-year cooperation agreement signed between the ports of Marseille and Montreal
08:34 Traffic dues for Kiel Canal will be suspended until the end of 2021

2020 November 30

18:36 Mina Rashid retains its title as the world’s leading cruise port at the World Travel Awards 2020
18:07 Seagoing vessels will pay a single tariff at North Sea Port from 1 January 2021
17:55 DP World’s Jebel Ali Port joins International Association of Ports and Harbours
17:36 Brittany Ferries’ new ship sets sail online
17:13 IAPH climate and energy working groups meet
16:48 Gasum continues to expand bunkering services
16:40 RWE and DEME Offshore install collars on offshore foundations
16:25 Fair treatment of seafarers and the COVID-19 pandemic on IMO Legal Committee's agenda
16:01 Report on maritime automation legislation commissioned by Finland’s Ministry of Transport and Communications pays attention to ensuring safety
15:37 Rosmorport conducted pilotage and docking of LNG tankers to temporary LNG Offshore Transshipment Complex in Barents Sea
15:14 "Wind Hunter Project" starts zero-emission project with wind propulsion and hydrogen
14:52 Port of Gdansk expects its tonnage to exceed 48 million tonnes in 2020
14:39 ABS and DSME sign JDP to explore using solid oxide fuel cells on-board VLCCs
14:30 Gazprom posts RUB 202.21 billion loss in 9M’2020
14:04 Uralhimmash shipped new equipment for NOVATEK’s facility in Ust-Luga
13:41 Average spot market price for Russian M100 product climbed to RUB 14,029 pmt
13:20 Diana Shipping announces time charter contract for m/v Polymnia with CLdN Cobelfret
12:56 Collaboration and digitalisation highlighted for Singapore’s maritime safety efforts at MPA’s International Safety@Sea Event
12:33 RF Government expands Vladivostok seaport territory
12:10 Abu Dhabi Ports supports the fight against COVID-19 with capacity to store and distribute 70M vaccines
11:49 LNG bunker fleet could increase fivefold by 2030
11:48 NIBULON launches a 90-m non-self-propelled vessel
11:27 RS optimizes Rules for Classification and Construction of Sea-Going Ships