• 2019 September 12 08:51

    MABUX: Bunker Market this morning, Sept 12

    The Bunker Review was contributed by Marine Bunker Exchange (MABUX)

    MABUX World Bunker Index (consists of a range of prices for 380 HSFO, 180 HSFO and MGO (Gasoil) in the main world hubs) demonstrated irregular changes on Sep. 11

    380 HSFO - USD/MT 392.65 (-1.31)
    180 HSFO - USD/MT 433.89 (-1.55)
    MGO - USD/MT 662.93 (+3.35)


    Meantime, world oil indexes demonstrated downward evolution on growing speculation that U.S. sanctions against Iran may be dropped.

    Brent for November settlement decreased by $1.57 to $60.81 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for October delivery fell by $1.65 to $55.75 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of 5.06 to WTI. Gasoil for September delivery decreased by 11.25.

    Today indexes rise amid moves to ease trade tensions between Washington and Beijing and a drop in U.S. crude inventories to the lowest in nearly a year.

    China announced its first batch of tariff exemptions for 16 types of U.S. products. The exemptions will apply to U.S. goods including some anti-cancer drugs and lubricants, as well as the animal feed ingredients whey and fish meal. U.S. President Donald Trump said in a tweet that he will be postponing the imposition of 5% extra tariffs on Chinese goods by two weeks “as a gesture of good will”. He also said that China had made a good step ahead of a planned meeting aimed at defusing a trade war between the world's two largest economies. Deputy trade negotiators for both countries are expected to meet in Washington in mid-September, but no firm date has been released.

    U.S. oil stockpiles fell more than expected last week. According to The Energy Information Administration (EIA) oil inventories fell by 6.9 million compared to forecast   drawdown of about 2.7 million. The EIA, meanwhile, reported U.S. crude exports at a blistering pace of 3.3 million bpd for last week. U.S. crude stocks have fallen nearly 22 million barrels in a span of just three weeks, with the draws coming unusually at the tail end of summer, when driving activity in the U.S. is typically on the decline. U.S. crude production remained at 12.4 million barrels last week, the same as the week before, the EIA said.

    OPEC, which accounts for about 40% of world oil supply, can again be faced with a global glut like a few years ago. Indeed, the cartel’s monthly report highlighted the need for production cuts to prevent more oversupplies.

    In a monthly report, OPEC said oil demand worldwide would expand by 1.08 million barrels per day in 2020, 60,000 bpd less than previously estimated, and indicated the market would be in surplus. That pushed oil indexes down. OPEC, in the report, also lowered its forecast for world economic growth in 2020 to 3.1% from 3.2% and said next year’s increase in oil demand would be outpaced by strong growth in supply from rival producers such as the United States.

    Oil prices were driven lower by the sacking on Tuesday of U.S. National Security Advisor John Bolton by President Donald Trump. Bolton’s ouster could pave the way for negotiations between Washington and Tehran on a new nuclear deal for the Islamic Republic that may eventually see U.S. sanctions on Iranian oil being removed. Should there be no more embargoes on Iranian oil, an additional 1 million barrels from Tehran could end up in the market -- not exactly something that OPEC would welcome. Bolton had practically blocked all attempts of diplomacy between the Trump administration and Tehran while in office.

    Bunker prices are expected to demonstrate downward changes today: about 5-7 USD down for IFO, about 8-11 USD down 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