• 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 July 2

18:37 CMA CGM announces FAK rates from Asia to the Mediterranean
18:04 CMA CGM updates PSS for Reefer Cargo from North Europe, Scandinavia, Poland & Baltic, West Med & Adriatic to the Indian Subcontinent, Middle East Gulf & Red Sea
18:04 ClassNK releases Annual Report on Port State Control
17:52 Glavgosexpertiza approves expansion of access canal to Sabetta port
17:35 Royal Niestern Sander delivers the hydrographic survey vessel ‘Geo Ranger’ to Geo Plus B.V.
17:21 Oil shipments via CPC Marine Terminal in 6M’20 climbed by 2.2% YoY
17:04 Kongsberg Digital acquires Danish maritime software company COACH Solutions
16:55 Federal government waives the traffic dues for the Kiel Canal until 31.12.2020
16:45 Fincantieri subsidiary INSIS acquired a majority share in Support Logistic Services
16:23 Webinar “Pusher-tugs as a pivot of river transportation chain. Will we have them built?” slated for 8 July 2020
16:04 IPCSA launches the Network of Trusted Networks
15:42 Shipbuilding facility of Neptun CDB in Novaya Ladoga lays down two cruise ships of Project PV20S
15:20 New transshipment terminal soon to become operational at the Port of Gothenburg
15:04 250,000 m2 of rooftop solar panels to be installed in the port of Amsterdam by 2024
14:23 MABUX releases weekly review of global bunker market
14:03 Nippon Paint Marine completes the extensive re-coating of the 1911-built cargo ship
13:29 Cargo traffic within Azov-Don Basin of Russia’s IWWs fell by 5% in 6M’20
13:05 Premiere for Rolls-Royce's first MTU gas engines in new Doeksen ferry
12:44 Bunker prices are slightly up at the Far East ports of Russia (graph)
12:22 Rosmorport announced tender for construction of LNG transshipment facility in Kamchatka
12:00 APM Terminals introduces APIs to transform the next generation of terminal data
11:21 Russian Railways' network loading fell by 4.5% in 6M’ 2020
11:03 ECSA calls on the German Presidency to support a stronger European shipping industry
10:47 Bunker sales at Vladivostok port in 6M’2020 fell by 23% YoY
10:29 Damen Maaskant Shipyards Stellendam delivers trawler Jonge Johannes
10:24 Tallink Grupp makes strategic future investment and purchases ro-pax vessel Sailor
10:02 Oil prices continue rising
09:59 Yang Ming fulfills green promise carbon emission reduced 51% in 2019
09:45 Tallink Grupp adds more departures to Helsinki-Riga and Turku-Tallinn routes for August 2020
09:28 MABUX: Bunker market this morning, July 02
09:23 Inaugural meeting of the international advisory panel on maritime decarbonisation
09:18 Baltic Dry Index as of July 1

2020 July 1

16:18 COVID-19 dampens long-term energy demand and highlights scale of climate emergency
15:52 Konecranes receives order from Louisiana for two portal harbor cranes
14:26 Panama emphasises its support for seafarers' rights
13:43 DNV GL grants type approval for Aquarius UV / EC BWMS
12:36 ICS: Global shipping fleet to sound horns on 8 July to remind governments over need for urgent crew change
11:09 Aker Solutions awarded letter of intent for Askeladd Vest
10:33 MABUX: Bunker market this morning, July 01
10:09 Damen delivers custom RHIB to Naarden Lifeboat
09:37 GTT receives a new order from DSME for the design of two large Floating LNG Storage Units

2020 June 30

19:07 Wan Hai Lines to launch Taiwan to Vietnam and Thailand services coverage
18:37 Valenciaport joins the “World Aids to Navigation Day” with the lighting of its headlights
18:12 Third stage of "Sea Cup 2020" competition begins
18:07 BPA attempts to cut fine dust level in Busan Port by developing green equipment
18:02 Damen concludes keel laying on 75-metre crane barge for a project in Panama
17:50 Bunker prices decrease at the Port of Saint-Petersburg, Russia (graph)
17:46 Diana Shipping announces signing of a supplemental agreement with BNP Paribas and the sale of a Panamax dry bulk vessel
17:27 BIMCO publishes Covid-19 crew change clause
17:04 Artemis Technologies to build zero emissions ferries following £60M funding
16:41 Seven port projects to compete for ESPO Award 2020
16:25 BLRT Grupp shipped last sections of railway bridge to Stockholm
16:04 Port of Melbourne welcomes largest containercapacity ship to dock in Melbourne
15:46 Knyaz Vladimir submarine of RF Navy’s fleet went to the White Sea starting its first base-to-base passage
15:03 World's first full scale ammonia engine test - an important step towards carbon free shipping
14:48 Severnaya Verf to build four long-liners of 200101 design for NOREBO Group
14:12 Hapag-Lloyd announces GRI from North East Asia to Australia
13:58 MSC Cruises and Chantiers de l’Atlantique celebrate key construction milestone for LNG-propelled MSC World Europa
13:33 RS publishes autonomous vessel classification advisory
13:11 Port of Oakland Oks FY 2021 budget midst COVID-19 crisis