• 2019 September 18 08:56

    MABUX: Bunker Market this morning, Sept 18

    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) continued sharp upward changes on September 17.

    380 HSFO - USD/MT 476.07 (+43.11)
    180 HSFO - USD/MT 513.73 (+40.22)
    MGO - USD/MT 697.43 (+21.45)


    Meantime, world oil indexes demonstrated downward changes on Sept.17 Saudi Arabia declared, the kingdom will restore lost oil production by the end of the month.

    Brent for November settlement decreased by $4.47 to $64.55 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for October delivery fell by $3.56 to $59.34 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of 5.21 to WTI. Gasoil for October delivery decreased by 17.25.

    Today indexes demonstrate slight downward changes.

    Saudi Arabia saying output was recovering much more quickly than initially forecast and could be fully back in two or three weeks. Full capacity of 12 million barrels per day would be back at the end of November, while 11 million barrels will be restored by the end of the month.

    International oil companies, fellow members of the OPEC oil cartel and global energy policy makers had heard no updates on the impact of the weekend attack from the Saudis for 48 hours, according to sources with knowledge of the situation. And on Monday, sources briefed on state oil giant Aramco's operations had said it could take months for output to recover.

    The attack knocked out half of Saudi Arabia's oil production, or 5% of global output, sending prices soaring when trading resumed on Sept.16. So the new prediction of a quick return to normal output sent prices down sharply on Sept.17.

    While the Houthi group, which is fighting a Saudi-led coalition in Yemen, was quick to claim responsibility for the attack, U.S. believes the attacks originated in southwestern Iran. That further increases tension in the Middle East. Moreover some said the attacks involved cruise missiles and drones, indicating that they involved a higher degree of complexity and sophistication than initially thought. At the same time nobody provided evidence or explain what U.S. intelligence they were using for the evaluations. At the same time, Saudi state television said the Saudi Defense Ministry will hold a media conference on Sept. 18 that will show evidence of Iran's involvement in the Aramco attacks, including the use of Iranian weapons. Iran denied it was to blame. That accusation prompted Iran's supreme leader on Sept.17 to rule out talks with Washington.

    Iran’s leader Ayatollah Ali Khamenei said talks could only take place if the United States returned to a nuclear accord between Iran and the West that Trump abandoned last year.
    U.S.-Iran relations deteriorated after Trump quit the accord and reimposed sanctions over Tehran's nuclear and ballistic programs. He also wants Iran to stop supporting regional proxies, including the Houthis.

    Britain and Germany agreed they needed to work with international partners to form a collective response and de-escalate tensions as efforts continued to establish exactly what. The European parties are trying to salvage Iran nuclear pact. Saudi Arabia, which has supported tougher U.S. sanctions on Iran, said an initial investigation showed the strikes were carried out with Iranian weapons.

    While the lack of escalation is capping the geopolitical risk premium currently embedded in prices, the attacks have raised profound questions about the vulnerability of Saudi Arabia’s energy system, which could in turn lead to structurally higher risk premiums in future.

    U.S. President Donald Trump said on Sept.17 his administration could seal a deal on trade with China before the U.S. presidential election, or an agreement could be reached the day after. Trump claimed that Beijing thinks he is going to win re-election, but that Chinese officials would prefer to deal with someone else. He said he had told China that if the deal comes after the Nov. 3, 2020 election, it would be on terms "far worse" for Beijing than it could achieve right now.

    The American Petroleum Institute said Sept. 17 that U.S. stockpiles rose by about 600,000 barrels last week. They dropped by 7.2 million barrels the week before.

    We expect bunker prices to demonstrate downward changes today: about 15-20 USD down for IFO, about 15-17 USD up for MGO.




2020 August 13

11:33 MacGregor receives EUR 18 million RoRo orders from Japan
10:52 Australia authorities issue fumigation requirements for the 2020/2021 high risk season
10:17 Sea Port of St. Petersburg half-year cargo volume rose 3%
10:14 MABUX: Bunker market this morning, Aug 13
09:52 Crude futures prices retreat
09:32 Baltic Dry Index as of Aug 12
08:26 ME-GI engine sails through sea trials

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