• 2019 September 26 08:32

    MABUX: Bunker Market this morning, Sep. 26

     

    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. 25

    380 HSFO - USD/MT 435.71 (-2.40)

    180 HSFO - USD/MT 475.36 (-0.50)

    MGO - USD/MT 674.55 (-5.56)

    Meantime, world oil indexes also declined on Sept.25 an unexpected rise in U.S. crude inventories.

    Brent for November settlement decreased by $0.71 to $62.39 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for November delivery fell by $0.80 to $56.49 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of 5.90 to WTI. Gasoil for October delivery decreased by 9.50

    Today indexes are steady on positive trade news.

    U.S. President Donald Trump told that a trade agreement with China could happen sooner than expected, rising hopes that global oil demand will increase.
    Trump’s comments came just one day after he said he would not accept a “bad trade deal” and accused China of unfair trade practices.

    On the other hand, Saudi Aramco has restored Saudi Arabia’s oil production capacity to 11.3 million bpd—the level before the attacks on oil facilities ten days ago. There is information, that Saudi Arabia is recovering from the September 14 attacks faster than expected—about a week faster than Saudi officials have given as a date to recover the full capacity, the end of September. The attacks on Saudi oil infrastructure on September 14 knocked 5.7 million bpd—or 5 percent of global oil supply—offline. The market initially panicked, with prices jumping the most on record last Monday, until Saudi Arabia started to insist through official statements and sources that it would fully restore oil supply by the end of September.  

    Oil prices were under some pressure after data showed an unexpected rise in U.S. crude inventories. According to the Energy Information Administration, U.S. oil stockpiles rose by 2.4 million barrels last week, against expectations for a draw of 250,000 barrels. It was the second-straight weekly crude build cited by the EIA after four-straight weeks of unseasonably heavy crude draws late into the summer that took 24 million barrels off stocks.This could be the clearest signal that the post-summer crude draws are over and that we could see substantial builds here on. U.S. production remains near record highs at 12.4 million bpd, while exports are steady at just under 3 million bpd.

    The United States is imposing new sanctions on certain Chinese entities and people who it accuses of knowingly transferring oil from Iran in violation of Washington’s curbs on Tehran. The U.S. Treasury Department announced that it placing sanctions on five Chinese nationals and six entities, including two Cosco Shipping Corporation subsidiaries.

    Attacks on Sept. 14 on the oil facilities of Saudi Arabia, widely blamed on Iran, have rattled the Middle East and raised concerns about a broader war. Iran denies involvement. He said Washington was also ramping up efforts to educate countries on the risks of doing business with Iran’s Revolutionary Guard Corps entities and that it will punish those who continue to engage with them in violation of sanctions. In a speech to the annual gathering of world leaders on Tuesday, U.S. President Donald Trump promised to keep trying to squeeze Iran’s economy with sanctions until Tehran agrees to give up what Washington says is a pursuit of nuclear weapons. Iran has said its nuclear program has always been for peaceful purposes only.

    Venezuelan state oil company PDVSA ordered an increase in exports to ally Cuba to ease fuel shortages on the island this month, challenging U.S. sanctions on shipping firms involved in the trade. Two tankers set sail this week from PDVSA's ports and at least nine more are lining up to load crude and fuel bound for Cuba, according to the data and sources. So far in September, the Venezuelan firm has exported 119,000 barrels per day (bpd) of crude and fuel to Cuba, an increase from 70,000 bpd in August.

    Expect bunker prices to demonstrate downward changes today: 2-5 USD down for IFO, 7-10 USD down for MGO.

     


2020 July 7

15:56 New ferry line Baltic Link launched at the port of Riga
15:28 RF Government allocates RUB 320 million to subsidize shipping companies
15:02 ABP delivers project cargo using North Lincolnshire’s waterways
14:32 Air Liquide and the Port of Rotterdam Authority launch initiative for hydrogen road transport
14:02 Konecranes to deliver mobile harbor crane to new terminal in Trieste
13:46 Bunker prices rise at the Far East ports of Russia (graph)
13:32 KNOT concludes long-term charter contract with PetroChina for shuttle tanker
13:11 CMA CGM announces GRR from Asia to West Africa
12:49 Throughput of Vostochny Port in HI’2020 grew by 6% YoY
12:30 GTT Training and Wavelink Maritime Institute in collaboration to deliver LNG training in Singapore
12:23 Tom Hautekiet becomes new CEO Port of Zeebrugge
12:01 IMO endorses guidance on ensuring seafarers’ access to medical care onshore
11:58 NRP facilitates long-term financing for a newbuilt arctic container vessel
11:00 The CMA CGM Group simplifies its trade network on the Transpacific trade
10:52 First jacket successfully installed at Moray East, Scotland’s largest offshore wind farm
10:52 Aker Arctic joins ePIcenter project
10:14 MABUX: Bunker market this morning, July 07
10:08 Zvezda shipyard starts steel cutting for nuclear-powered icebreaker Rossiya, Project 10510
09:31 Oil prices are decreasing
09:13 Baltic Dry Index as of July 6
08:40 Klaveness Combination Carriers secures the first sustainability linked bank financing in Norwegian shipping

2020 July 6

19:07 Equinor awarded framework contract for engineering and installation services on Statfjord
18:27 CMA CGM to launch Round the Africa service
18:07 APM Terminals Buenos Aires facilitates first ever export of lemons from Argentina to China
17:31 Northern Sea Route cargo traffic in 6M’2020 reached 14.8 million tonnes
17:30 Kloosterboer starts construction of Cool Port II at City Terminal Rotterdam
17:06 ArcelorMittal issues invitation to tender for heat network in North Sea Port
16:45 Damen delivers five zero emissions propulsion ferries to Arriva in Copenhagen
16:12 Kvaerner improves financial results and outlook
15:32 Average wholesale prices for М-100 HFO fell to RUB 9,623 in RF spot market
15:08 EMSA’s RPAS to support Finnish, Estonian and Swedish Coast Guard functions
14:05 Zvezda Shipyard lays down fifth Aframax tanker, Nursultan Nazarbayev
13:33 Throughput of Port Vysotsky in 6M’2020 fell by 16.5% YoY
13:10 CMA CGM announces PSS from the Indian Subcontinent, Middle East Gulf, Red Sea & Egypt Red Sea ports to the US Gulf, US East Coast & Canada East Coast
12:00 Sembcorp Marine President & CEO appointed Co-chair of International Advisory Panel on Maritime Decarbonisation
11:01 A.P. Moller - Maersk to acquire European specialist KGH Customs Services
11:00 The car carrier Höegh Xiamen declared a constructive total loss after fire
10:31 IMO is holding an informal (virtual) preliminary discussion session on short-term measures for reducing GHG emissions from ships
10:22 MABUX: Bunker market this morning, July 06
10:00 GTT receives an order from Zvezda for the tank design of five ARC7 ice-breaking LNG carriers
09:56 Republic of Korea implements national sulphur emission control area
09:47 Tallink Grupp cancels Riga-Saaremaa direct special trip
09:29 AS Tallink Grupp published its statistics for June 2020 and 2Q of 2020 financial year
09:13 Baltic Dry Index as of July 3

2020 July 5

15:02 FURUNO acquire EMRI A/S, Danish based provider of advanced ships Maneuvering and Steering Systems
14:51 HamiltonJet partners with RIBCRAFT to power 48 US Navy RHIBs
13:42 Ingalls Shipbuilding awarded $936 million contract to build navy destroyer
12:18 Huisman to deliver offshore mast crane for wind turbine installation in Taiwan
10:44 USCG assists disabled vessels near Freeport, Texas

2020 July 4

15:01 APL announces storage arrangements for China reefer imports
14:39 MAN to supply compression technology for offshore gas production
13:28 Naval Group selected iXblue to supply navigation systems for Gowind-class vessels
12:33 USCG halts illegal charter, rescues 2 on disabled jet ski near Venetian Causeway Bridge
11:04 DNV GL: Ports can be the front runners of the energy transition, if port authorities and industry sectors join forces

2020 July 3

18:37 DistriRail adds its rail schedules to the Port of Rotterdam Authority’s Navigate tool
18:07 ClassNK releases amendments to class rules
17:44 Possibilities of digital transformation of military shipbuilding to be discussed at "ARMY-2020" forum
17:05 ECSA welcomes study on social aspects within the maritime transport sector
16:50 Rosmorrechflot warns about Russia’s risk to move from White to Grey list of Paris MoU
16:24 11 major international companies join forces to accelerate the energy transition in transport and logistics