• 2019 July 18 09:56

    MABUX: Bunker market this morning, July 18

    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 moderate downward evolution on July 17:

    380 HSFO – USD/MT 433.45 (-6.23)
    180 HSFO – USD/MT 467.69 (-5.58)
    MGO – USD/MT 665.68 (-2.39)


    Meantime, world oil indexes also fell on Jul.17, extending a more than 3% drop in prices the previous session, after U.S. government data showed large builds in refined product stockpiles.

    Brent for September settlement decreased by $0.69 to $63.66 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for August delivery fell by $0.84 to $56.78 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $6.88 to WTI. Gasoil for August lost $17.50.

    Today morning oil indexes do not have firm trend and change irregular.

    U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 3.1 million barrels from the previous week. At 455.9 million barrels, U.S. crude oil inventories are about 4% above the five year average for this time of year, confirming and even exceeding the American Petroleum Institute’s Tuesday estimate of a small 1.401-million-barrel draw. Final figure follows an estimated a 9.5-million-barrel draw in oil inventories for the previous reporting period. In distillate fuels, the authority reported an increase in inventories of 5.7 million barrels, versus a build of 3.7 million barrels for the previous week. Production last week averaged 5.4 million bpd for the second week in a row.

    More than half of daily crude production in the Gulf of Mexico remained offline on Jul.18 in the wake of Hurricane Barry, as most oil companies were re-staffing facilities to resume production. The Bureau of Safety and Environmental Enforcement said 1.1 million barrels per day of oil, or 58% of the region’s total, and 1.4 billion cubic feet per day of natural gas output remained shut.

    Oil prices slumped on Jul.16 on increased hopes for a return of Iranian crude to the global oil market after U.S. President Donald Trump said progress had been made with Tehran, signaling tensions could ease in the Middle East. However, Iran later denied it was willing to negotiate over its ballistic missile program, contradicting a claim by U.S. Secretary of State Mike Pompeo, and appearing to undercut Trump’s statement.

    The Turkish Foreign Affair Ministry on Jul.16 rejected the notion of European Union sanctions on Turkey over its drilling for gas in disputed eastern Mediterranean waters, pledging instead to send yet another ship to the area. The day before, European Union foreign ministers approved a new batch of sanctions against Turkey: the EU was suspending talks on an air transport agreement and would call on the European Investment Bank to review its lending to the country. Meanwhile, ministers of the EU members backed a proposal by the EU’s executive branch to reduce financial assistance to Turkey for the next year. Old tensions in the Eastern Mediterranean between Turkey and the EU member state Cyprus about jurisdiction for offshore oil and gas deposits intensified after Turkey’s decision to send a second drilling ship into disputed waters off the coast of Cyprus.  

    The United Kingdom discussed on Jul.17 the detained Iranian oil tanker Grace 1. The tanker was seized earlier this month by British Royal Marines off the coast of the British Mediterranean territory of Gibraltar on suspicion of violating sanctions against Syria. Shipping data suggests that the tanker en route to Syria was loaded with Iranian oil off the Iranian coast. If the tanker indeed loaded oil from Iran, it was not only in breach of EU sanctions on the Syrian entity owning the refinery believed to be the destination of the oil, but it also violated the U.S. sanctions on Iran’s oil exports. Now the UK will facilitate the release of the Iranian oil tanker detained by Gibraltar if Iran gives guarantees that the crude loaded on that vessel wasn’t bound for Syria.

    Shippers trying to minimize time in the Middle East after oil tanker attacks pushed up insurance costs are scaling back purchases of marine fuels from the United Arab Emirates' (UAE) Fujairah oil hub. Instead, they are turning primarily to Singapore with some diverting to smaller bunkering ports, including in India and Sri Lanka. A ton of 380 HSFO in Fujairah has slipped from an average $5-$10 premium over Singapore in May to a discount of $30-$70 over the past two weeks. The increased bunker demand in Singapore helped push Asian fuel oil market premiums to record highs last week. Singapore fuel oil inventories have mostly fallen since May as suppliers clear stocks of HSFO ahead of a shift to lower-sulphur grades under global ship fuel rules due to take effect next year.

    We expect bunker prices may continue downward trend today in a range of minus 4-12 USD.




2021 September 23

18:05 Maersk calls Jafza home for its first Warehousing & Distribution facility in the UAE
17:25 GTT and Deltamarin receive AiP from American Bureau of Shipping for their new design applied for LNG fueled tanker
17:05 LR grows fleet optimisation offering with GreenSteam acquisition
16:25 The Port of Rotterdam Authority helps German DeltaPort to be a regional hydrogen hub
16:15 Panama Canal joins to the Call to Action for Shipping Decarbonization
15:39 Dry cargo vessel of RSD59 design, Alexander Ivanov, leaves for sea trials
15:21 ABS grants AIP for next generation liquified CO2 carrier JDP designs
15:05 Synergy Group to take over Maersk Tankers’ technical management business
14:37 DNV and LISCR award AiP to HHI for 40,000 CBM liquefied CO2 carrier design
14:17 Kaliningrad region and FESCO to cooperate in the field of logistics
13:48 Damen can build icebreaking ships for Russia’s Arctic projects within short timeframes
13:25 Sweden’s largest port solar cell system inaugurated at Stockholm Norvik Port
13:15 MABUX: Bunker Weekly Outlook, Week 38, 2021
12:56 Keel-laying of Damen tug series for Atomflot held in Saint-Petersburg
12:51 MSC invests in new efficiency solution to reduce emissions from fleet
11:00 13th Annual Capital Link Shipping & Marine Services Forum took place with great success on September 13, 2021
11:00 Rolls-Royce and Sea Machines sign partnership to cooperate on smart ship and autonomous ship control solutions
10:34 APM Terminals partners with Siemens for energy optimisation and emission reduction at terminals
09:58 Torqeedo and Fassmer Shipyard announce the CIT-E Ferry - a passenger ferry for public transport
09:46 MABUX: Global Bunker Market may demonstrate firm upward evolution on Sept 23
09:29 Crude oil prices continue increasing
09:14 Baltic Dry Index as of September 22

2021 September 22

18:05 ClassNK joins as signatory to Call to Action for Shipping Decarbonization
17:47 Localization level of LK-60 icebreakers estimated at 92% in finance terms
17:20 Torvald Klaveness joins over 150 industry leaders and organizations in call for decisive government action to enable full decarbonization of international shipping by 2050
16:55 SC Zvezda counts on signing contracts for 10 tankers under Vostok Oil project in October 2021
16:31 Transition to unmanned navigation and navigation with reduced crews will be possible in Russia in three years
16:30 LR, HHI and KSOE sign MoU to develop digital twin technology for an LNG carrier
16:10 APM Terminals Pipavav marks 1,000 days of safe operations
15:39 Wärtsilä and SHI agree to collaborate on ammonia fuelled engines for future newbuilds
15:14 NAVTEK proves first zero-emissions tugboat performance
14:43 Additional EUR 90 million to be invested in Saimaa Canal infrastructure development
14:14 Valmet AB orders Agilon automated warehouse solution and overhead cranes from Konecranes
13:57 Northern Sea Route will be covered with satellite communication services – expert
13:16 ABB’s Eero Lehtovaara appointed Chair of EU association Waterborne Technology Platform
13:13 LNG bunker terminal construction begins in Bilbao
12:04 Big Data Exchange, National University of Singapore and Sembcorp Marine to explore development of sustainable ocean Data centres
11:31 Russia’s Inland Water Transport Development Concept aimed at raising IWW cargo traffic by 65%
11:08 Pier T Terminal in the Port of Long Beach begins pilot program for 24-hour cargo pickup
10:40 Vadim Shpityak appointed as General Manager of Moby Dik and Yanino Logistic Park
10:15 Tollerort to become preferred hub for COSCO services
09:57 More than 300 ships to be built by 2032 under subsidized leasing programmes
09:40 Crude oil prices increase on reduction of reserves
09:39 MABUX: No firm price trend on global bunker market on Sep 22
09:22 Baltic Dry Index as of September 21
09:13 Havyard Leirvik hands over the third and last of the ‘triplet ships’ for ESVAGT
08:35 KiwiRail gets world-first green loan certification for new ferries

2021 September 21

19:01 Grimaldi to launch the Civitavecchia-Arbatax-Cagliari service
18:05 RTCOMM and Konnect Russia agree to join hands in development of satellite communication services for sea and river ships
18:02 “K” LINE to procure 8 next-generation of environmentally friendly car carriers
18:01 Diana Shipping announces time charter contract for m/v Maera with ASL
17:54 ABS publishes guide to ammonia-fueled vessels
17:47 RTCOMM and Iridium join hands to develop mobile communication services to improve clients security in Russia’s hard-to-reach areas
17:37 AD Ports Group and the General Company for Ports of Iraq sign MoU to promote cooperation and investments
16:58 RTCOMM and KNS partner to expand ocean satellite communications services
15:36 Hydrographic survey vessel Gorizont returns from the Arctic expedition
15:11 MOL Group Adopts Car Carrier Operation Digital Transformation Promotion Project 'Mathematical Optimization': Part II
14:59 Wärtsilä signs five-year Optimised Maintenance agreement featuring latest digital innovations with STQ of Canada
14:07 New ESPO Green Guide 2021 outlines a vision for ports towards a green future
12:34 International Maritime Exhibition and Conference NEVA 2021 opens in St. Petersburg