• 2019 June 25 09:46

    MABUX: Bunker market this morning, June 25

    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 June 24:

    380 HSFO – USD/MT 404.32 (+6.40)
    180 HSFO – USD/MT – 443.82 (+5.65)
    MGO – USD/MT – 654.44 (+4.88)


    Meantime, world oil indexes changed irregular on Jun.24 as Middle East tension simmered.

    Brent for August settlement decreased by $0.34 to $64.86 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for August delivery rose by $0.47 to $57.90 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $6.96 to WTI. Gasoil for July lost $7.25.

    Today morning oil indexes do not have any firm trend so far.

    U.S. President Donald Trump said over the weekend that the U.S. will impose major additional sanctions against Iran this week after Tehran’s Islamic Revolutionary Guard Corps said it shot down the U.S. RQ-4A Global Hawk surveillance drone. Iran accused of incursion and spying over Iranian airspace, while the U.S. said that the aircraft was in international airspace when it was targeted. The news came after Trump called off military strikes against the Islamic Republic over concerns about the loss of life.

    Besides, Donald Trump said countries that get their crude oil via the shipping routes in the Middle East should protect their own ships along the lanes. The daily flows of oil through the Strait of Hormuz accounts for around 30 percent of all seaborne-traded crude oil and other liquids.

    Russia is willing to step in to help Iran export its oil while the Middle Eastern country is struggling to keep the oil flowing while pressured by sanctions levied by the United States. Iran’s budget counts on raking in around $30 billion from oil and gas condensate exports. Iran in turn was holding out hope that Europe would have its Instex European payment system in place that would allow Europe to continue purchasing Iranian oil, but the system is not yet running, leaving Iran in tight spot when it comes to getting its oil out of country. If Russia’s help is successful, Iran would be able to export substantial amounts of oil to Europe, Russia would be able to export more gas to the EU, and Europe would be able to purchase both low-cost oil and gas.

    China said both China and the United States should make compromises in trade talks. Both countries last week said they were reviving talks ahead of the meeting between presidents Donald Trump and Xi Jinping. Hopes that it will lead to a de-escalation of a trade war that is damaging the global economy has cheered financial markets. At the moment both the Chinese and U.S. teams are making preparations for the Xi-Trump meeting. The two countries are in the middle of a costly trade dispute and have slapped increasingly severe tariffs on each other's imports. China has vowed to not give in on issues of principle nor under U.S. pressure. Trump has threatened to put tariffs on another $325 billion of goods, covering nearly all the remaining Chinese imports into the United States, including consumer products such as cellphones, computers and clothing. If the talks fail and the U.S. and China decide to escalate confrontation, a total recession is possible.

    The OPEC+ has decided to meet in Vienna on July 1 and 2. The recent plunge in oil prices probably should make OPEC+’s decision an easy one. As long as they stick to the cuts and extend them, OPEC+ may succeed in keeping some stability in the market.

    Robust US oil production is also keeping the prices in check, although falling back for the second week in a row on June 14 to 12.2 million bpd down from the all-time high of 12.4 million bpd.

    Venezuela’s oil production fell to a new low last month, as economic crisis and sanctions continue to strangle the industry. Venezuela’s output fell by 35,000 bpd in May, plunging to 741,000 bpd for the month, the lowest total in about a half century. Venezuela has massive oil reserves, the largest in the world, but conventional fields are in decline and heavy oil fields require huge investment. As the country settles into a political stalemate that shows no signs of changing, the country’s oil production may simply continue to erode.

    We expect bunker prices may change irregular today in a range of plus-minus 2-6 USD.




2021 July 28

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
09:51 LNG terminal to be built on Sakhalin by the end of 2023
09:32 Baltic Dry Index as of July 26
09:16 Crude oil market see upward price correction

2021 July 26

18:04 IPCSA ‘honoured’ to join the World Customs Organization’s Private Sector Consultative Group
17:57 M. Skuodis: expansion of the southern part of the Port of Klaipėda has potential to attract new cargo and investments
17:35 Sri Lanka Ports Authority with ILO support commences training for seafarers
17:14 Vitol Bunkers adds first offshore location to its USGC and Caribbean supply offering
16:20 Operation on delivery of 111-meter long column for Amur GCC is underway
16:03 Mobile harbour crane investment to further improve cargo handling efficiency at Port of Newcastle
15:13 TotalEnergies signs renewable power purchase agreement with Air Liquide
14:59 RF Government suggests establishing free customs area on Kuril Islands
14:34 The COVID 19 has strong impact on the port of Helsinki
13:44 DP World and Rosatom sign agreement for Northern Transit Corridor
13:36 FSUE Atomflot and Murmansk Marine Biological Institute sign cooperation agreement
12:57 Average spot market price for Russian M100 product fell to RUB 24,400 pmt
12:38 Onezhsky Shipyard lays down fourth serial crab catching ship for Russian Crab Group