• 2019 September 20 08:58

    MABUX: Bunker Market this morning, Sept 20

    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 downward changes on Sep. 19

    380 HSFO - USD/MT 453.82 (-9.92)
    180 HSFO - USD/MT 488.58 (-10.48)
    MGO - USD/MT 680.46 (-5.54)


    Meantime, world oil indexes demonstrated upward changes on Sept.19 as Saudi Arabia tapped Iraq and others to ensure there’s no default in its fuel delivery to customers. That came just days after the kingdom declared little fallout from an attack on its energy infrastructure.

    Brent for November settlement increased by $0.80 to $64.40 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for November delivery rose by $0.02 to $58.19 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of 6.27 to WTI. Gasoil for October delivery increased by 4.75.

    Today indexes continue to rise after a Saudi-led coalition launched a military operation north of Yemen's port city of Hodeidah, as the United States worked with Middle East and European nations to build a coalition to deter Iranian threats after the Saudi attack.

    Saudi Arabia would not be stretched in meeting customer obligations, particularly after it said half of the production lost from the weekend attacks had been restored and the balance would be back by November.

    Saudi Arabia's ability to avert a global oil supply crunch will only become clear in a few weeks, because for now its crude held in storage can fill the gap and mask the scale of damage to its facilities, traders and analysts say. At the same time the Saudi state-owned Aramco Trading Co purchased diesel cargoes and also sought one-off supplies of aviation fuel this week. Moreover, Saudi Arabia asked Iraq for 20 million barrels of crude to supply domestic refineries, adding to doubts over whether the Kingdom will be able to return to full output this month following weekend attacks on key oil facilities.

    Earlier this week Saudi said production will be back to normal levels in two to three weeks, which means restoring output to about 10 million barrels per day. But many are skeptical, while the lack of transparency about Saudi inventories adds to uncertainty about whether Riyadh can keep markets supplied without disruption.


    The attacks knocked out over half of active Saudi crude production and severely limited the country's spare capacity, a cushion for oil markets in any unplanned outage. U.S. Secretary of State Mike Pompeo and officials in Riyadh said evidence showed the weapons used were fired from southwest Iran instead and blamed Iran in the attack.

    Iranian Foreign Minister Javad Zarif said Pompeo’s remarks may be aimed at deceiving President Donald Trump into going to war against Tehran. Trump has already said he had no wish to engage in a military battle with Iran. President’s remarks were interpreted as meaning that the United States would support Saudi Arabia with intelligence, targeting information and surveillance capabilities to strike back at Iran, though the U.S. itself would not fire any weapon. Trump has said there were many options short of war with Iran and has ordered the U.S. Treasury to "substantially increase sanctions" on Tehran. Zarif said that the Iranian response to a U.S. or Saudi military strike on the Islamic Republic would be "all-out war".

    Meanwhile, weekly report from the Energy Information Administration on U.S. oil inventories showed, that crude stockpiles rose by 1.1 million barrels last week against expectations for a drop of 2.5 million barrels. However, stocks at Cushing, Oklahoma, the delivery point for benchmark futures, fell to their lowest since October 2018.

    In the United States torrential rain from Tropical Storm Imelda has forced a major refinery to cut production and shut a key oil pipeline, terminals and a ship channel in Texas.
    Global markets are also keeping an eye on U.S.-China trade negotiations in Washington, as officials from both sides resumed face-to-face talks for the first time in nearly two months on Sept.19-20. The negotiations are aimed at laying the groundwork for high-level talks in early October that will determine whether the two countries are working toward a solution or headed for new and higher tariffs on each other's goods.

    We expect bunker prices to demonstrate upward changes today: about 3-5 USD up for IFO, about 4-6 USD up for MGO.




2020 August 13

18:31 Glavgosexpertiza gives nod to Sovetskaya Gavan LPG terminal project
18:06 Global Industry Alliance issues Just-In-Time Arrival Guide
17:36 HMM Rotterdam en route to Rotterdam
17:18 Ust-Luga Multipurpose Reloading Complex half-year cargo volume down 9% year-on-year
17:06 The operational situation in the port of Beirut is back to normal
16:48 TCSP Group half-year throughput grows 11.4%
16:31 Kalmar service expertise to enhance safety, performance and productivity on WWO’s American routes from Manzanillo International Terminal in Panama
16:12 CMA CGM announces PSS from North Europe (except France) to Australia & New Zealand
15:26 Minister for Regional Growth and Local Government opens multi million pound bulks terminal at Teesport
15:21 St. Petersburg set to create infrastructure for all-electric passenger vessels
14:39 First supply of bunker fuel by Gazpromneft Marine Bunker to the brand new cruise ship Mustai Karim
13:52 MABUX releases weekly review of global bunker market
13:21 VIKING delivers first of ambulance boat trio for Hellenic Coastguard
12:32 Grain exports via Krasnodar Krai based seaports in Jan-Jul jump 32%
12:14 Port of Oakland import cargo volume grew 6.4 percent in July
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