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  • MABUX: Bunker Market this morning, Sep. 27
  • 2019 September 27 09:28

    MABUX: Bunker Market this morning, Sep. 27

    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) changed insignificant and irregular on Sep.26:

    380 HSFO - USD/MT - 438.94(+3.23)

    180 HSFO - USD/MT - 478.30(+2.94)

    MGO - USD/MT – 671.90(-2.65)

    Meantime, world oil indexes also changed sideways on Sep.26 amid optimism that the United States and China could resolve their trade dispute, though prices came under pressure from Saudi Arabia’s moves to restore output quickly after attacks on its oil installations.

    Brent for November settlement increased by $0.35 to $62.74 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for November delivery fell by $0.08 to $56.41 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $6.33 to WTI. Gasoil for October lost $3.25.

    Today morning oil indexes do not have any firm trend so far.

    Amid reports that Saudi Arabia has moved to speed up the listing of its oil giant Aramco and amid conflicting reports about the impact of the attacks on Saudi oil on what would be the world’s largest IPO ever, the latest report coming out of the Kingdom is that Aramco is set to announce as soon as next month its intention to proceed with the initial public offering. Before the attacks, reports had it that Aramco could list shares on its domestic stock exchange as early as in November 2019. Meantime, at the beginning of this month, the top managers of the Saudi state oil firm reiterated that it’s up to the sole shareholder of the company—the Kingdom of Saudi Arabia—to decide when the listing will take place.

    Oil and gas activity in the United States is slowing even in some of the most prolific regions, as oil producers undergo some spending-belt tightening to stay a step ahead of volatile oil prices. While oil production is still increasing, holding firm at 12.4 million bpd for the last few weeks, oilfield services sector reported that they have seen declines in activities, a confirmation of the belief that US oil producers continue to find new ways to increase the operation profitability. In 2019, the number of active oil rigs in the United States have fallen sharply, by 158, incurring losses in 10 of the last 11 weeks. At the same time, oil production in the United States has increased from an average of 11.7 million bpd at the beginning of the year to an average of 12.4 million bpd now.

    Despite Trump’s criticism against Beijing, both the U.S. and China are under pressure to make a deal. Both sides have also made some positive gestures in recent weeks, delaying tariffs on select items. China is preparing to purchase more pork from the U.S., a move that will both meet domestic shortages but also be in favour of Washington. It looks that the American and Chinese leadership would not be making such moves if they weren’t convinced that at least a minor breakthrough in the trade talks was possible.

    Two days after Iran said that the detained UK-flagged oil tanker was “free to leave Iran,” officials in the Islamic Republic said on Sep.25 that the detention order had been lifted, but the tanker is still being detained because of the ongoing investigation. According to Iran, procedures to release Stena Impero were “in final stages.” Several high-profile incidents in recent months have increased the tension between Iran and the West in the Middle East and in the most important oil shipping corridor in the world, the Strait of Hormuz, which is in close proximity to Iranian coasts.

    Tanker freight rates soared to their highest levels of the year this week as Asian importers scrambled to secure crude supplies from the U.S. after attacks on Saudi Arabia’s oil facilities took a big amount out of global output. Daily spot rates for supertankers were quoted at above $43,000 this week from less than $30,000 before the Sept. 14 attacks in Saudi Arabia. Average time charters, which are for longer periods, were quoted at $38,600 a day compared with an earlier rate of $28,300, according to the Baltic Exchange. The rates were the highest since the bourse introduced its pricing index in March for so-called dirty tankers, which carry crude and heavy fuels oils.

    The first deal for a cargo of Marine Fuel 0.5% was reported in the Platts Market on Close assessment process in Singapore on Sep.26. Shell sold a 20,000 mt cargo of Marine Fuel 0.5% on a FOB Straits basis to P66 at a premium of $19/mt to October average of the Mean of Platts Singapore Marine Fuel 0.5% assessments. The MOC process on Sep.26 saw bids from P66 and Sinopec Hong Kong as well as offers from Vitol and Trafigura. Platts launched daily cargo and barge assessments for Marine Fuel 0.5% reflecting residual marine fuels with a maximum sulfur limit of 0.5% at key ports across the globe starting January 2, 2019.

    We expect bunker prices may change irregular today in a range of plus-minus 1-3 USD.

     


2022 January 28

18:30 Smooth Ports completes the first project phase of the project
18:12 Two oil garbage disposal vessels put into operation in Novorossiysk
18:05 MOL and Mitsui sign time charter contract for LNG carrier
17:56 Finnlines upgrades its Finland–Sweden route
17:36 NRP Maritime Asset Management announces launching and first close of Premium Maritime Credit Fund
17:26 NYK and Uyeno Group form capital and business alliance
17:06 UPM sets its sights on Rotterdam for new biorefinery
16:51 New fairway drafts offer shipping greater flexibility on Lower and Outer Elbe
16:41 GCT Bayonne orders Konecranes Noell Sprinter Carriers
16:31 ZIM provides update on operational cooperation agreement with the 2M Partners
16:21 ENEA and Fincantieri team up for energy, environment, and circular economy
16:15 Furetank orders new climate friendly tanker for a green fleet
16:10 MAN Energy Solutions delivers engines to Chantiers de l’Atlantique
15:57 USCG intercepts 191 Haitians near Bahamas
15:55 Project cargo on the rise at Port of Antwerp thanks to EU Green Deal
14:26 Tenders for dredging and cleaning of Saint-Petersburg waterways to be announced by ad hoc municipal committee
14:03 Damen Shipyards to build four RoPax ferries for Penang Port, Malaysia
13:41 Nefteflot lays down survey ship of Project RDB 66.62
13:27 Ulstein awarded offshore wind ship design contract for Shanghai Electric and ZPMC
12:34 Universe Shipping opts for RMS 2000 V-rotor systems from Damen Marine Components
12:02 EST-Floattech delivers battery systems to 3 Damen Patrol Vessels 1304 Electric
11:30 KSK Grain Terminal handles grain vessel of 120,000 tons in capacity
11:01 MarineMax reports record fiscal 2022 first quarter results
09:59 RF Navy's frigate Admiral Gorshkov practiced artillery firing in the Barents Sea
09:34 Baltic Dry Index as of January 27
09:16 Crude oil market sees upwards price correction
08:57 MABUX: No firm trend expected on Global bunker market on Jan 28

2022 January 27

18:35 ABP launches the first of its new tranche of port-manufacturing sites at Port of Hull
18:05 Indian Register of Shipping classes first 100 pax hybrid catamaran (battery powered) ferry
17:52 Onezhsky Shipyard launches lead crab catching ship built for Russian Crab Group
17:35 Kawasaki Heavy Industries announces delivery of LPG-fueled LPG carrier CRYSTAL TRINITY
17:05 NAPA and MOL roll out digital Navigational Risk Monitoring Solution on over MOL’s 700+ ships
16:45 Port of Antwerp, North Sea Port Flanders and Port of Zeebrugge launch the stimulus programme ‘Accelerating modal shift’
16:36 Construction of digital shipyard commenced at Onezhsky Shipbuilding, Ship Repair Yard
16:17 Suez Canal Economic Zone signs local and foreign contracts for Sokhna port new berths works
15:35 Construction of support fleet base in Ust-Luga approved by Glavgosexpertiza
15:32 ABS grants AIP to a coordinated design for a wind turbine installation vessel
15:14 Tarragona Port Authority has awarded Global Ports Holding a 12-year concession to manage the services for cruise passengers
15:00 Marine Rescue Service removed all oil products from Chinese ship Xing Yuan
14:53 Cooperation Agreement signed between ThPA S.A. and Suez Canal Economic Zone
14:42 DP World joins forces with Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping
14:32 A.P. Moller - Maersk shares millions of weather observations to aid climate science
14:22 IMB releases 2021 Piracy and Armed Robbery Report
14:04 FESCO launches regular container train from Vladivostok to Ulyanovsk
13:40 Swissterminal starts a new rail link between the port of Antwerp and Ottmarsheim
13:28 FESCO confirms compliance with standards for operation of vessels in US waters
13:03 Georgia Ports Authority tops 5.5M TEUs, 650K units in 2021
12:49 NYK delivers methanol-fueled chemical tanker
12:02 Throughput of Yeisk port in 2021 remained flat, year-on-year
11:30 Tallink Grupp’s vessel Baltic Queen heads to Naantali, Finland for regular dry-docking
10:56 Throughput of Temryuk port in 2021 rose by 10.3% YoY
10:37 MABUX: Bunker Weekly Outlook, Week 04, 2022
10:33 Haldor Topsoe becomes member of Hydrogen Council to promote green hydrogen solutions
09:48 Registration is underway for 5th Hydraulic Engineering and Dredging Congress
09:29 Baltic Dry Index as of January 26
09:12 Crude oil prices decrease on reduction of supply disruption risks
08:57 MABUX: Global bunker market to continue firm upward evolution on Jan 27

2022 January 26

18:06 Safe Bulkers announces agreement for the acquisition of one Capesize class dry-bulk Japanese vessel
17:54 Olga Naumova takes helm of Russian Fishery Company
17:41 Shearwater GeoServices awarded Western Australia multicomponent surveys by Santos