• 2019 June 3 09:52

    MABUX: Bunker market this morning, June 03

    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 downward trend on May 31:

    380 HSFO - 390.21 (-6.00)
    180 HSFO - USD/MT - 439.07 (-5.72)
    MGO - USD/MT - 638.57 (-5.93)


    Meantime, world oil indexes fell sharply on May 31, over 3%, after U.S. President Donald Trump stoked global trade tensions by threatening tariffs on Mexico, a key U.S. trade partner and major supplier of crude oil.

    Brent for August settlement decreased by $3.34 to $61.99 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for July delivery fell by $3.09 to $52.50 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of 10.99 to WTI. Gasoil for June decreased by $20.50.

    Today morning oil indexes continue downward trend.

    Trump vowed on May, 30 to ratchet up tariffs unless Mexico stopped people from illegally crossing into the United States. The plan would impose a 5% tariff on Mexican imports starting on June 10 and increase monthly, up to 25% on Oct. 1. That could hit the lucrative cross-border energy trade as the U.S. refiners import is roughly 680,000 barrels per day of Mexican crude. The United States also exports more fuels to Mexico than any other country, according to the U.S. Energy Department. Mexican President Andres Manuel Lopez Obrador on May,31 urged Trump to back down from the threats.
    There are also fears that the U.S.-China trade war increased the danger of a recession. China is ramping up its response to President Donald Trump’s decision to impose higher tariffs on $200 billion of its exports and blacklist national technology champion Huawei Technologies Co. Its latest rhetorical salvo is a so-called White Paper that blames the U.S. for the breakdown in trade talks, accuses it of unreasonable demands. Though the paper released on June,2  in Beijing is largely a rehash of well-established policy positions and language, including a requirement that the U.S. must remove all existing tariffs for any deal, it also contains some interesting insights into China’s thinking. At the same time, additional levies by Beijing on the majority of U.S. imports on a $60 billion target list took effect on June,1, in response to Washington's move this month to slap further tariffs of up to 25% on $200 billion of Chinese goods.

    A Reuters survey showed Brent crude prices are likely to hold near $70 a barrel for the rest of the year as elevated supply risks in the Middle East offset risks to demand. Top oil exporter Saudi Arabia's increased output in May was not enough to compensate for lower Iranian exports. OPEC is expected to meet in late June. At the beginning of the year, OPEC and allies agreed to cut production by 1.2 million bpd.

    U.S. production has offset that decline, as output returned to a record 12.3 million barrels per day, and as U.S. crude stocks fell less than expected last week, according to weekly figures.
    At the same time U.S. energy firms increased the number of oil rigs operating for the first week in four, adding three oil rigs, bringing the total count to 800. That compares with 861 rigs operating during the same week a year ago. But in May the rig count was reduced for the sixth straight month as drillers cut the number of rigs operating by five.

    U.S. crude oil production rose 241,000 barrels per day (bpd), or 2.1%, in March to 11.905 million bpd, just below its record high, the Energy Information Administration (EIA) said in its monthly production report.

    We expect bunker prices will continue to fall today: 8-13 USD down for IFO, 15-20 USD down for MGO.




2020 October 26

09:09 Baltic Dry Index as of October 23

2020 October 25

15:27 USCG: Oil spill cleanup of Delaware Bay coastline continues
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13:27 Gothenburg Port Authority's Elvir Dzanic named as a member of Electrification Commission
12:43 Maritime NZ welcomes report to MPI
12:18 Oil spill response equipment and vessel rates in Singapore
11:04 GPA holds first virtual State of the Port

2020 October 24

15:47 Ocean transport of the first lot of railway coach to Myanmar completed
14:51 OOCL announces services changes and enhancements on Asia-Europe trade
13:28 Port Authority launches new campaign against litter
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11:06 CSD Hussein Tantawy successfully launched at IHC's shipyard in The Netherlands

2020 October 23

18:09 Baltic Data Flows: New HELCOM project seeks to harmonize and harvest environmental data at a pan-Baltic level
17:47 ICS welcomes legally binding agreement to significantly improve carbon efficiency of shipping
17:10 Anti-submarine ship Vice-Admiral Kulakov completes its business call to Greece
16:32 Bollinger Shipyards delivers 41ST fast response cutter to the U.S. Coast Guard
16:05 APM Terminals Poti signs a contract with Poti New Terminals Corporation for the development of dry bulk facility in the Poti Sea Port
15:31 HySHIP project clinches EUR 8M funding award
15:13 Krasnoye Sormovo shipyard launches dry cargo carrier Alfa Mercury
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14:25 Equinor changes chief financial officer
14:06 Membrane technologies of GTT is an optimal solution for gas carriers, LNG bunkering and storage
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10:53 NYK to make Gazocean a wholly owned subsidiary
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09:55 National Gas Vehicle Association to propose priority measures for LNG bunkering support
09:33 Oil prices continue decreasing
09:18 Baltic Dry Index as of October 22
08:49 MABUX: Bunker market this morning, Oct 23
08:19 CMA CGM announces GRR from Asia to West Africa

2020 October 22

19:00 “K”Line online training for seafarers obtained DNV GL certification
18:04 Milaha reports QR 384 million in net profit for the nine months of 2020
17:41 Port of Los Angeles receives $9.9 million infrastructure development grant
17:36 Feasibility report on ship repair cluster development in Arkhangelsk Region to be completed in November 2020
17:29 MABUX releases weekly review of bunker market
17:05 Gothenburg Port Authority CEO becomes the member of newly established Electrification Commission
16:44 ABP’s ports in East Anglia keep agricultural products moving
16:14 ONE adds new service from Asia to Indian Subcontinent
15:50 Bunker prices are flat in the Far East ports of Russia (graph)
15:34 EU awards funding to Kapellskär-Naantali Maritime Bridge environmental initiative
15:04 Environmental Protection Agency signs a proposed rule for reducing the environmental impact of discharges
15:03 ABS and TCOMS join forces to research next generation marine & offshore and maritime solutions
14:44 Floating nuclear power plant covers over 50% of electric energy demand in Chukotka
14:20 The average value of the Ningbo Container Freight index 1 in October increases by 1.2%
14:20 MPA-SSG-WSG joint media release: 1000 traineeships, company attachments and training opportunities for more Singaporeans to join maritime sector
14:03 Global Ports Holding signs sale and purchase agreement for Port Akdeniz
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12:26 MPA-ABS MoU to advance R&D activities in maritime Singapore
12:13 Multi-million-euro project transforms CO2 into green raw material in North Sea Port
11:56 Private investments in infrastructure of Arkhangelsk port totaled RUB 25 billion in 7 years
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