• 2019 July 9 10:19

    MABUX: Bunker Market this morning, July 09

    The Bunker Review was contributed by Marine Bunker Review

    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 July, 08:

    380 HSFO - USD/MT 424.44 (+4.21)
    180 HSFO - USD/MT 461.93 (+4.26)
    MGO - USD/MT 652.71 (+2.86)


    Meantime, world oil indexes demonstrated slight irregular changes on July, 08 as tensions over Iran's nuclear program countered concerns about whether slowing global economic growth would hit oil demand.

    Brent for September settlement declined by $0.12 to $64.11 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for August delivery rose by $0.15 to $57.66 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of 6.45 to WTI. Gasoil for July delivery increased by $2.50.

    Today indexes fall amid concerns of weakening global demand.

     Oil prices are being pressured by ongoing worries about demand as the U.S.-China trade war, heading into its second year, dampens prospects for global economic growth, which strongly impacts oil demand growth. The countries are the world's two largest oil consumers. Japan's core machinery orders fell by the most in eight months, in a sign the global trade tensions are taking a toll on corporate investment. Japanese government figures today also showed that real wages in the country fell for a fifth straight month. The country is the fourth-largest crude user in the world.

    Meanwhile, U.S. Federal Reserve Chair Jerome Powell will testify before Congress on monetary policy and the state of the U.S. economy on July,10-11. Markets will be looking to find out if Powell is still leaning toward a rate cut after the latest U.S. jobs report for June suggested the economy may be too strong to justify an easing.

    Tension in the Middle East remained in focus after Iran admitted over the weekend that it had increased uranium enrichment beyond the purity threshold agreed in a nuclear deal. Speaking on July,7 U.S. President Donald Trump warned that Tehran to be careful on the decision which he claims to be a step towards the development of nuclear weapons.

    In addition, The Government of Gibraltar has confirmed that the Iranian supertanker allegedly on its way to Syria was fully laden with 2 million barrels of crude oil. The Panamanian-flagged Grace 1, which was seized on July,4 by the British Royal Marines, was assumed to be carrying crude oil, but some raised doubts. Iran denies that the tanker was on its way to Syria, in defiance of EU sanctions against Syria, and has likened the rather dramatic seizure—reportedly done at the behest of the United States—to “an act of piracy”. Iran alleged on Monday that it is under no obligation to adhere to EU sanctions. Despite some setbacks, Iran remains hopeful that its oil exports will improve, although its oil exports have fallen to below 300,000 bpd–lower than Iran may have anticipated since the sanctions went into effect.

    Meanwhile, Goldman Sachs said growth in U.S. shale production was likely to outpace that of global demand at least through 2020, limiting gains in oil prices despite output curbs led by OPEC.

    OPEC has asked on Monday for a timely settlement to the tensions that have flared up between the United States and Iran and Venezuela. Iran and Venezuela, both founding members of OPEC, are both exempt once again from the production cut extensions that the cartel announced last week, and will remain exempt for as long as they remain under sanction.
    But while the two countries combined seemingly did OPEC a favor by taking more than 2.6 million barrels of crude oil per day out of the market within that time frame, the tensions in the Persian Gulf and the dire situation in Venezuela are creating a market that OPEC is finding it difficult to both predict and manage.

    We expect bunker prices to demonstrate slight irregular changes today: US$ 1-3 down for IFO, US$ 1-3 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