• 2019 June 27 09:35

    MABUX: Bunker Market this morning, June 27

    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) demonstrated upward changes on June. 26

    380 HSFO - USD/MT 409.40 (+3.70)
    180 HSFO - USD/MT 448.56 (+2.99)
    MGO - USD/MT 652.81 (+3.08)


    Meantime, world oil indexes also demonstrated sharp upward changes on June. 26

    Brent for August settlement increased by $1.44 to $66.49 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for August delivery rose by $1.55 to $59.38 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of 7.11 to WTI. Gasoil for July delivery increased by $10.25.

    Oil prices jumped after the U.S. government reported a crude stockpile draw four times above expectations, the biggest weekly inventory drop since September 2016. The EIA said crude oil inventories plummeted by 12.79 million barrels the last week, against forecasts for a stockpile draw of 2.54 million barrels. In the previous week to June 14, crude inventories declined by 3.11 million barrels, after a net build of nearly 20 million barrels over five weeks.

    An additional factor affecting fuel prices is Philadelphia Energy Solutions’ decision to permanently shut its oil refinery in Philadelphia after a massive fire last weekend.

    The G20 gathering will be in the spotlight for oil markets as Russian President Vladimir Putin meets Saudi Crown Prince Mohammed Bin Salman. They will likely discuss whether and how to extend the current production cut agreement between OPEC and other producers, of which Russia is by far the largest.
    Moscow had convinced OPEC to delay the meetings initially scheduled for June 25-26 to July 1-2 in order to have time for discussion at the G20.
    While waiting for a confirmation of an extension of output cuts, U.S. crude has gained more than 10% since mid-June as escalating tensions between the U.S. and Iran countered the ongoing Sino-U.S. trade conflict as the principal short-term price driver.

    Today indexes fall as market await the G20 summit in Japan and a meeting of OPEC and other oil producers to decide on an extension of output cuts.

    The market has concerns that a hoped-for breakthrough on trade at the G20 may not eventuate and some nervousness about continued output cuts were crimping follow-through buying. U.S. President Donald Trump will meet with Chinese President Xi Jinping at the Group of 20 summit that starts on June 28 in Osaka, Japan to seek a breakthrough in negotiations to end a trade war that has been hitting global economic growth. At the same time, Trump said on June,26 that a deal was possible but also spoke of a Plan B that would involve reducing business ties with China.

    Almost immediately after the G20 summit ends on Saturday, the Organization of the Petroleum Exporting Countries (OPEC) meets on July,1 to discuss an extension of production cuts to support prices. The day after that OPEC members meet with other producers including Russia in a grouping known as OPEC+, which agreed in December to reduce supply by 1.2 million barrels per day from Jan. 1. The agreement is due to expire on June 30.

    We expect that bunker prices will demonstrate upward changes today: 5-8 USD up for IFO, 8-10 USD up for MGO.




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
08:58 MABUX: Bunker market this morning, Aug10

2020 August 9

16:21 MPA launches six next-generation patrol craft to grow its frontline capabilities
15:35 Fincantieri Bay Shipbuilding prepares for Navy frigate work
14:03 NCLH reports Q2, 2020 financial results
13:27 USCG Cutter Legare offloads nearly 5,000 lbs. of cocaine, marijuana