• 2019 July 1 10:39

    MABUX: Bunker Market this morning July, 01

    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 upward changes on June. 28

    380 HSFO - USD/MT 418.12 (+1.97)
    180 HSFO - USD/MT 456.25 (+1.50)
    MGO - USD/MT 660.10 (+1.20)


    Meantime, world oil indexes demonstrated irregular changes on June. 28.

    Brent for September settlement declined by $0.93 to $64.74 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for August delivery fell by $0.96 to $58.47 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of 8.08 to WTI. Gasoil for July delivery increased by $1.00.

    Today indexes rise after Saudi Arabia, Russia and Iraq backed an extension of supply cuts for another six to nine months ahead of an OPEC meeting in Vienna.

    OPEC and its allies look set to extend oil supply cuts until the end of 2019 after top producers on June,30 endorsed a policy aimed at propping up the price of crude. Russian President Vladimir Putin said on June,30, that Russia has agreed with Saudi Arabia to extend by six to nine months a deal with OPEC on reducing oil output, as oil prices come under renewed pressure from rising U.S. supplies and a slowing global economy. Saudi Energy Minister Khalid al-Falih said on Sunday that the deal would most likely be extended by nine months and no deeper reductions were needed. The Organization of the Petroleum Exporting Countries, Russia and other producers, an alliance known as OPEC+, meet on July 1-2 to discuss the deal, which involves curbing oil output by 1.2 million barrels per day (bpd). The United States, the world's largest oil producer ahead of Russia and Saudi Arabia, is not participating in the pact.

    A nine-month extension would mean the deal runs out in March 2020. Russia's consent means the OPEC+ group may have a smooth meeting if OPEC's third-largest producer Iran also endorses the arrangement. New U.S. sanctions on Iran have reduced its exports to a trickle as Washington seeks to change what it calls a corrupt regime in Tehran. Iran has denounced the sanctions as illegal and says the White House is run by mentally retarded people.

    The U.S.-Iran standoff and shrinking American crude stockpiles propelled oil to its biggest monthly gain since January.  EU said a workaround to Iran sanctions was in operation. An Iranian official told reporters ahead of the meeting that his country's main demand was to sell its oil at the same levels that it did before Washington withdrew from the accord. However, he cautioned that Tehran had lost patience with the European signatories. Until its demand is met, Iran will continue on its current path and go over limits of the deal one by one, starting with the uranium enrichment level, the official said, although none of the actions are irreversible.

    China's factory activity unexpectedly shrank in June as domestic and export demand faltered, a private sector business survey showed on july,1, pointing to further strains on its vast manufacturing sector as the Sino-U.S. trade war drags on. The Caixin/Markit Manufacturing Purchasing Managers' Index (PMI) for June came in at 49.4, the worst reading since January and below economists' expectations of 50.0. It was the first time in four months that the keenly-watched index has fallen below the neutral 50-mark dividing expansion from contraction on a monthly basis.

    However, leaders of the United States and China agreed at the G20 summit in Japan over the weekend to restart trade talks, giving the market some cause for optimism, though analysts say the lack of any substantive agreements from the meeting mean China's economic woes are likely to persist. However, the official China Daily, warned while there was now a greater likelihood of reaching an agreement, there's no guarantee there would be one. Even though Washington agreed to postpone levying additional tariffs on Chinese goods to make way for negotiations, and Trump even hinted at putting off decisions on Huawei until the end of negotiations, things are still very much up in the air.

    Expect bunker prices to demonstrate irregular changes today: 3-5 USD down for IFO, 1-3 USD up for MGO.




2020 September 24

18:37 Kongsberg Digital develops cloud-based simulators for maritime industry, with funds from Innovation Norway
18:07 Wärtsilä ranked first in UN challenge to fight climate change with big data
17:45 Alco Bio Fuel, Messer Benelux and IJsfabriek Strombeek once again invest in recycling CO2 in North Sea Port
17:20 World’s first subsea compression system passes five years in operation
17:12 Esben Poulsson reappointed as ICS Chairman for a new term
16:48 Okskaya Shipyard launches first multipurpose dry cargo carrier of Project RSD59 for Astrol
16:24 Severnaya Verf starts cutting steel for seventh trawler of Project 170701 for NOREBO Group
15:50 ASCO's vessel “Razul Rza” sent to outer waters after repairs
15:26 Russian Direct Investment Fund (RDIF) to invest in Sovcomflot, says RDIF CEO
15:02 Diana Shipping announces the sale of a Capesize Dry bulk vessel
14:39 Russian Railways launches regular multimodal service from China to Europe via the ports of Kaliningrad and Hamburg
14:17 MABUX releases its weekly review of bunker market
14:02 Fincantieri starts dry dock works for experimental vessel Zeus
13:40 Freeport of Riga Authority signs Declaration of Cooperation with Port of Shenzhen
13:21 IMO celebrates World Maritime Day 2020
13:08 Total and MOL officially name the world’s largest LNG bunker vessel
12:48 Bunker prices decrease in the Far East ports of Russia (graph)
12:25 ZIM launches new China-Australia Express Line
12:11 Inmarsat Fleet Lte service coverage extended to Gulf of Mexico following successful trials with V.Ships Offshore
11:32 Ships of RF Navy’s Black Sea Fleet take part in "Kavkaz-2020" maneuvers
11:14 Port of Trelleborg offers their shipping customers reliable and fast internet with Nowhere Networks
11:13 "Tatarstan" missile ship of RF Navy’s Caspian Flotilla involved in "Kavkaz-2020" maneuvers
10:09 CTI-Maritec receives DNV GL approval for ballast water testing
09:57 Muuga freight station of Rail Baltica is to be designed by SWECO Projekt AS
09:36 MPC Container Ships ASA announces appointment of new CFO
09:29 Oil prices decrease amid concern over demand/supply imbalance
09:11 Baltic Dry Index as of September 23
08:40 MABUX: Bunker market this morning, Sept 24

2020 September 23

18:15 HMM opens Fleet Control Centre
17:35 Stena develops a solution to use recycled batteries in charging stations at port
17:05 Philippine Ports Authority COVID-19 Molecular Testing Center for seafarers now operational
16:42 British Ports responds to reasonable worst-case scenario Brexit assumptions
16:17 Vestdavit wins contract to supply six Australian Navy patrol boats
16:03 ABB powers P&O super-ferries towards new sustainable transport era
15:43 Royal Niestern Sander orders SCHOTTEL thrusters for world’s first shallow-draught ice-breaking walk-to-work vessel
15:25 FESCO’s Board of Directors elected new Management Board
15:03 Kalmar’s fuel-efficient terminal tractor solutions selected by Yilport for fleet expansion at Puerto Bolívar and Gävle container terminals
14:47 RF Government to revise comprehensive plan for upgrading and expanding core infrastructure
14:30 U.S. Coast Guard awards four more fast response cutters to Bollinger Shipyards
14:01 ESPO expresses commitment of European ports to play their part in helping shipping sector decarbonise
13:28 Travelling by ferry between Finland and Sweden is now permitted without restrictions
13:19 Damen delivers ASD Tug 2810 to Thomas Service Maritimes
13:02 Van Oord’s Deep Dig-It trencher buries cables to 5,5 metres depth for offshore grid connection
12:44 Nakhodka Shipyard launched two self-propelled freight/passenger barges ordered by Kamchatka Transport Ministry
12:15 Construction of LNG transshipment facility in Kamchatka put under special control of RF Government
12:01 CMA CGM announces FAK rates from Asia to North Africa and to the Mediterranean
11:53 Maersk partners with IB Cargo to offer tailored logistics solutions for IKEA Supply AG in Romania
11:09 Konecranes wins Automation Service Contract in Indonesia
10:51 Bunker prices increase in the Port of Saint-Petersburg, Russia (graph)
10:32 IAA PortNews offers photos from farewell ceremony for Project 22220 icebreaker Arktika leaving for Murmansk
10:13 BlueWater Reporting: Asia-South America trades sees high demand, equipment shortages
10:00 RF Government approves new NSR navigation rules
09:41 Oil prices decrease amid information about growing US reserves
09:29 Maritime Safety Committee adopts resolution on Recommended action to facilitate ship crew change
09:26 Baltic Dry Index as of September 22
09:12 MABUX: Bunker market this morning, Sept 23
08:48 MPA and SMI launched a joint call for proposals on the electrification of harbourcraft in the port of Singapore

2020 September 22

18:24 FESCO launches new maritime service from ports of China and USA to Chukotka
18:06 Aker Solutions wins electrification work for Lundin Energy Norway
17:49 Onezhsky Shipyard launches yet another self-propelled hopper barge of Project NV-600