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  • MABUX: Bunker market this morning, July 16
  • 2019 July 16 10:14

    MABUX: Bunker market this morning, July 16

    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) did not have firm trend and changed irregular on July 15:

    380 HSFO – USD/MT – 448.05 (-4.55)
    180 HSFO – USD/MT – 482.20 (-5.16)
    MGO – USD/MT – 673.69 (+1.81)


    Meantime, world oil indexes decreased slightly on July 15 on signs that the impact of a tropical storm on U.S. Gulf Coast production and refining would be short-lived, while Chinese economic data dimmed the crude demand outlook.

    Brent for September settlement decreased by $0.24 to $66.48 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for August delivery shed $0.63 to $59.58 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $6.90 to WTI. Gasoil for August lost $4.50.

    Today morning oil indexes sliding down.

    The positive Chinese data may indicate early success in the government’s stimulus efforts and potentially more oil demand in the world’s second biggest economy. China’s crude oil throughput rose to a record of 13.07 million barrels per day in June, up 7.7% from a year earlier, following the start-up of two new, large refineries. Still, economic growth of just 6.2% in the second quarter of 2019 — the worst in 27 years — highlighted the impact of trade tensions with Washington and raised the possibility that more incentives might be needed to jump start the economy. Despite a truce agreed between the Chinese and U.S. presidents last month, the trade war remains unresolved.

    It is still difficult to predict the impact of Tropical Storm Barry on oil and fuel prices. A key factor in last week’s rally, Barry reached hurricane status as it made landfall in Louisiana on Jul.13, only to quickly weaken back to a tropical storm. However, flash flood warnings were still in force for portions of far southeast Texas through much of Louisiana, Mississippi and Arkansas, and including parts of the mid Mississippi Valley. Some crude was still awaiting refinement due to the idling of some local refineries. The storm had the potential to cut Gulf of Mexico crude production by 140,000 to 230,000 barrels a day in July and the reduced refining activity could raise U.S. crude stockpile balances on the Gulf Coast in the short-term.

    The International Energy Agency in its latest Report said global oil supply exceeded demand by about 0.9 million barrels per day (bpd) in the first six months of this year. This surplus adds to the huge stock builds seen in the second half of 2018 when oil production surged just as demand growth started to falter. As per IEA, market tightness is not an issue for the time being and any re-balancing seems to have moved further into the future.

    In fact, all three of the major forecasters – OPEC, IEA and EIA – see robust supply growth from U.S. shale. The specific figures vary, but they generally see non-OPEC production (with U.S. shale accounting for most of the total) growing by around 2 million bpd this year, and by even more next year, which means that non-OPEC supply growth for both 2019 and 2020 will exceed demand.

    Russia intends to grow its LNG potential amid the escalating pressure coming from Washington reflected in sanctions. The country, holding the world’s largest natural gas reserves, currently possess two LNG plants, including the Gazprom-led Sakhalin LNG plant situated on Sakhalin Island, which has an annual capacity of 9.6 million tons of LNG; and the three-train Yamal LNG plant, which has proven reserves of 683 bcm of gas. It opens the opportunity to set up LNG bunker infrastructure as well. Besides, nearly 50 billion Russian rubles ($800 million) have already been allocated to construct liquefied natural gas (LNG) carriers for the Arctic LNG 2 project, expected to start in 2023.

    We expect bunker prices may demonstrate slight downward trend today in a range of minus USD 3-8.




2021 December 9

15:55 8th Port Planning & Development Asia Summit 2022 to be held live online on 21-24 March 2022
15:54 Port of Melbourne breaks new ground on rail project
15:42 Port of Antwerp, Indaver, Fluvius and Woonhaven work together on the first open access heat network in Belgium
15:21 LR launches ‘First movers in Shipping’s Decarbonisation – a framework for getting started’
14:54 Intense operation of nuclear-powered icebreakers over complete cycle is cheaper compared to diesel and gas fueled ones
14:50 Aker Solutions to deliver subsea compression module for Åsgard
14:30 Volvo Penta and Danfoss Power Solutions partner to boost electrification in the marine sector
13:58 Four new ports to be built in Perm Territory by 2030
13:35 MABUX: Bunker Weekly Outlook, Week 49, 2021
13:31 Rotterdam port agrees tariffs through 2024
13:13 Electric watercraft maker Candela secures €24M investment from EQT Ventures to scale production of foiling vessels
13:02 Xeneta and Compass Financial Technologies partner to launch the industry’s most in-depth daily container freight index
12:44 NUTEP Container terminal set a record for simultaneous processing of vessels
12:12 CMA CGM acquires Ingram Micro’s Commerce & Lifecycle Services business
11:13 Samus Shipbuilding and Repair Yard lays down 10 barges for Yenisey River Shipping Company
10:42 FESCO launches a regular intermodal service from countries of the Asia-Pacific region to Europe via Vladivostok and Kaliningrad
10:19 MABUX: Bunker prices may slightly increase on Dec.9
09:50 FESCO acquires a universal marine terminal in the Far East
09:28 Crude oil prices rise as concerns over omicron decrease
09:11 Baltic Dry Index as of December 8
08:07 Topeka’s hydrogen vessels one step closer to reality
07:56 BIMCO publishes EEXI Transition Clause ahead of IMO efficiency regulation

2021 December 8

18:39 A robotic system intended to clean litter from the seafloor has passed its first real-life tests in Croatia
18:10 Arctic LNG 2 signs loan agreements with international banks
17:55 Eagle Bulk Shipping partners with sustainability pioneer GoodFuels to take on first biofuels
17:49 Russian Railways: Loading of export cargo bound for domestic ports grew by 7% in 11M’21
17:26 European shipowners call on Transport ministers to fix enforcement loopholes in FuelEU Maritime
17:06 Sewage from cargo ships may be legally discharged into the Baltic Sea - Gasum
16:42 Nordic Engineering supports Ship Repair, Modernization and Components Conference as its Partner
16:25 Wärtsilä thrusters to provide optimal propulsion performance for new Wind Turbine Installation Vessel
15:43 Zelenodolsk Shipyard named after A.M. Gorky lays down three sea-going tugboats of Project Т3150-ZD
15:14 Crowley announces 2050 net-zero commitment and activates key partnerships
14:55 Results of Atomflot’s summer-autumn navigation season rose from 66 to 111 icebreaker escort operations YoY
14:31 ICTSI continues to invest in Manila flagship
14:22 Parker altair® Neptune filtration system selected to provide reliable operation of Italian and US Navy vessels
13:47 Single-window concept applied at Ust-Luga – Baltiysk ferry line
13:21 Port of Long Beach opens survey on multimillion-dollar community grants
12:56 AS Tallink Grupp published its statistics for November 2021
12:32 Rosatomflot completed operation to escort ships out of the Northern Sea Route area
12:30 "K" Line and Shin Kurushima Dock get joint AIP for the concept design of Ammonia Fueled Car Carrier from ClassNK
12:09 APM Terminals Elizabeth targeting intermodal cargo
11:03 VRT Finland acquires Satamatieto Oy
10:29 ABP opens Vancouver Timber Terminal at the Port of Kings Lynn
10:10 Sea Port of Saint-Petersburg introduced unified digital system of production control
09:59 The Georgia Ports Authority to expedite 1.6M TEUs of on-terminal capacity by June
09:46 MABUX: Bunker prices may continue upward changes on Dec.8
09:28 Baltic Dry Index as of December 7
09:11 Crude oil market sees downward price correction

2021 December 7

18:15 Ernst Russ AG to acquire further shares in a Fleet Holding Company
17:59 Kuzey Star Shipyard holds steel cutting ceremony for Atomflot’s new floating dock
17:36 Stena Line expands and launches new route between Stockholm Norvik and Hanko
17:15 Boskalis consortium secures EUR 24 million research grant to advance emission-free shipping
16:45 New report highlights regional economic importance of Ports of Stockholm
16:33 LAS Admiral Panteleev of RF Navy’s Pacific Fleet started transition to Vladivostok from Indonesia after participation in ARNEX-2021
16:15 Angola starts CLOV Phase 2 project
15:50 Rosneft signed contract with Indian Oil for supplying up to 2 mln tons of crude oil to India
15:45 Strategic Marine wins additional order for new 42m Fast Crew Boat from Centus Marine
15:27 Ships of RF Navy and Egypt Navy start naval phase of Bridge of Friendship 2021 joint exercise
15:03 Wärtsilä partners with Microsoft to strengthen their Edge platform and industrialise Marine IoT
14:41 NOVATEK and RWE sign MOU on decarbonization and LNG