• 2019 May 29 09:44

    MABUX: Bunker market this morning, May 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) changed insignificant and irregular on May 28:

    380 HSFO: USD/MT 421.81 (-1.79)
    180 HSFO: USD/MT – 461.04 (-1.10)
    MGO: USD/MT – 685.88 (+3.68)


    Meantime, world oil indexes were steady on May 28: latest rebound eased on signs the U.S. and China are still far from reaching a trade deal, but prices remained supported by supply risks in the Middle East.

    Brent for July settlement stayed unchanged: $70.11 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for July delivery added $0.01 to $59.14 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of 10.97 to WTI. Gasoil for June lost $2.50.

    Today morning oil indexes turned into slight downward evolution.
     
    Russian oil production continues to trend lower in May as exports via the Druzhba oil pipeline have been restricted due to a contamination issue, helping Russia to finally fall in line with the OPEC+ production cuts. Russia’s oil production averaged 11.126 million bpd between May 1 and 26. This compares to average production of 11.147 million bpd between May 1 and 21. As part of the OPEC+ production cuts between January and June, Russia is taking the biggest share of the non-OPEC cuts and pledged to reduce production by 230,000 bpd from October’s post-Soviet record level of 11.421 million bpd, to 11.191 million bpd. However, last month, Russia halted supplies via the Druzhba oil pipeline to several European countries due to a contamination issue.

    During his visit to Japan, Trump said American tariffs on Chinese goods could go up very substantially and very easily. China over the weekend pushed back at the perception that the trade war is hurting its economy, saying higher tariffs would have a very limited impact, and would hurt the U.S. about as much. Fuel market  has largely interpreted Trump’s trade comments as a negotiating tactic.

    Israel suggested that it is open to United States-mediated negotiations with Lebanon over a long-standing dispute over a maritime border-and if talks are successful, oil and gas exploration in the eastern Mediterranean could receive much needed easing of the tension and positive regulatory and political climate for oil and gas companies. Neither Lebanese nor U.S. officials have immediately commented on the possibility of such talks. Lebanon and Israel have an unresolved maritime border dispute over a triangular area around 860 square kilometres, that extends along the southern edge of three of Lebanon’s 10 blocks.

    The Pentagon has accused Iran’s Revolutionary Guard of sabotaging four vessels at the Emirati port of Fujairah that media reported earlier this month. The Pentagon announcement came on the same day that President Trump said he will send 1,500 more troops to the Middle East. Meanwhile, Washington designated the Iranian Revolutionary Guard a terrorist organization as part of its efforts to apply increasing pressure on Iran. Commenting on the designation, Secretary of State Mike Pompeo said this was a direct response to an outlaw regime and should surprise no one. Meantime, President Trump also said that he is not seeking regime change in Iran, and only wants to contain their nuclear weapons, a comment that seems to contradict the rising risk for war.

    Buyers of Iranian oil have disappeared following U.S. sanctions. In March, the countries that had exemptions on U.S. sanctions purchased 1.6 million barrels per day from Iran, and evidence suggests that they are all mostly abiding by U.S. demands to cease purchasing.

    A shortage of heavy oil due to the outages in Venezuela and Iran are cutting into the profits of refiners who rely on such oils. Gulf Coast fuel oil, a byproduct of heavy crude, saw prices surge to a six-month high. As refiners ramp up production of gasoline, their margins are narrowing. Meanwhile, for refiners who have made expensive upgrades to produce cleaner fuels, the forthcoming IMO rules on sulfur concentration could provide a windfall.

    We don’t expect any firm trend in bunker prices today. The indications may change irregular in a range of plus-minus 1-3 USD.




2021 July 29

12:13 Sembcorp Marine bags 24 Workplace Safety and Health Awards
11:46 Ongoing travel restrictions continue to impact Tallink Grupp financial results in Q2 2021
11:08 MARAD awards vessel acquisition management contract to Crowley
10:43 Rosmorport’s tugboats assisted sailing boat Pallada mooring in Egvekinot and Provideniya ports
10:08 Thun Tankers announces the launching of product tanker Thun Empower
10:00 British Ports Association welcomes the resumption of international cruise in England
09:35 Baltic Dry Index as of July 28
09:18 SCHOTTEL to deliver a total of ten rudder propellers and two transverse thrusters to Sanmar Shipyards
09:09 Crude oil prices rise on reduction of US reserves
08:00 Verifavia shipping highlights widespread confusion over EEXI technical parameters
07:55 Drewry launches shipmanager Steering Group to power vessel opex benchmarking

2021 July 28

18:20 NOVATEK announces consolidated IFRS results for Q2 and H1 of 2021
18:01 New BIMCO/ICS Seafarer Workforce Report warns of serious potential officer shortage
17:09 PSA & ONE team up to enhance sustainability and reduce maritime environmental footprint
16:28 ECSA and ETF welcome WHO decision to prioritise seafarers’ vaccination
16:03 Rosmorrechflot supports the International Conference “Development of Icebreaking and Support Fleet”
15:42 ERMA FIRST adds world’s smallest ballast water treatment system to product range
15:18 DCT Gdańsk and the Port of Gdańsk enter a new era of container handling on the Baltic Sea
14:51 Oleg Shakhmardanov appointed as head of FSBI Moscow Canal
14:10 MAN wins the world-first order for methanol engine within container segment
13:56 Amursky Shipyard should enter the APR markets – Prime Minister Mikhail Mishustin
13:14 Norcod finalizes transfer of 2.4 million fish into sea phase
12:55 Captain Guryev, rescue vessel of RF Navy's Black Sea Fleet passed the Suez Canal
12:32 Onezhsky Shipyard to get first federal tranche of RUB 1.3 billion for creation of ‘digital shipyard’ this year
12:13 DNV backs crew change programme in South East Asia
11:10 Firth of Forth proposed as Scotland’s Green Port
10:38 The Port of Gdansk welcoms the first cruise ship of the season
10:10 Andrey Severilov re-elected Chairman of the Board of Directors of FESCO
10:03 Haldor Topsoe and Yanchang form joint venture and build methanol catalyst facility in China
09:47 FESCO held repeated Annual General Meeting of Shareholders
09:28 Crude oil prices rise on reduction of US reserves
09:12 Baltic Dry Index as of July 28
09:05 Neal elected Long Beach Harbor Commission President
08:59 Seanergy announces delivery of one Capesize vessel and new bank loan facility

2021 July 27

18:34 Port of Kaohsiung wins International Association of Ports and Harbors (IAPH) 2021 Award
18:16 Port Houston launches business equity program
17:56 The UK’s most eastern port welcomes the maiden call of Noble Caledonia’s flagship vessel
17:36 ONE offers free transportation of oxygen tanks to India to fight the COVID-19
17:06 Pilbara Ports Authority launches its annual Recreational Vessel Safety Campaign
16:42 Carbon Trust to support BEIS in development and demonstration of innovative floating offshore wind technologies for the UK
16:14 Cargo Integrity Group calls for risk-based measures to prevent pest contamination
16:03 Passengers travelling via the Port of Helsinki should prepare for occasional congestion
15:33 APM Terminals Mobile targets Midwest supply chains
15:02 MOL jointly develops new energy-saving sail to boost ship propulsion
14:42 ICTSI South Pacific starts bulk coffee operations
14:24 GTT receives an order for the tank design of six new LNG carriers
14:11 IPEM and IAA PortNews launch their joint analytical project on cargo handling in Russian seaports
13:42 Port of Savannah moves 5mln TEUs in H1 2021
13:29 Launching of sea cruise between Aktau and Astrakhan under consideration
13:12 Port of Zeebrugge posts results for H1 2021
12:52 MSC takes delivery from Fincantieri of MSC Seashore
12:25 ABS leads EMSA consortium studying alternative fuels and technologies
12:12 IADC reveals the fifteen nominations in the running for the IADC Safety Awards 2021
11:44 FESCO performs its first intermodal shipment of containers with shoes from China to Krasnodar via CPV
11:26 MSC, Fincantieri and Snam to partner for world’s first oceangoing hydrogen-powered cruise ship
11:10 Yang Ming takes delivery of one more 11,000 TEU ship to upgrade Trans-Pacific service
10:45 The President of the European Council Charles Michel was briefed on the capabilities of the Port of Baku
10:39 Damen Marine Components awarded contract to provide rudders and steering gear for Navantia
10:23 DCT Gdańsk and the Port of Gdańsk enter a new era of container handling on the Baltic Sea
09:59 CMA CGM to launch a new RORO Short Sea Med service connecting Marseille & Barcelona with Casablanca