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  • MABUX: Bunker Market this morning, Oct 08
  • 2019 October 8 09:04

    MABUX: Bunker Market this morning, Oct 08

    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) demonstrated irregular changes on Oct.7

    380 HSFO - USD/MT 392.17 (-0.19)
    180 HSFO - USD/MT 430.23 (-1.26)
    MGO - USD/MT 658.27 (+3.63)


    Meantime, world oil indexes also demonstrated slight irregular changes on Oct.7.

    Brent for December settlement decreased by $0.02 to $58.35 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for November delivery fell by $0.06 to $52.75 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $5.55 to WTI. Gasoil for October delivery increased by $9.00.

    Today indexes rise as unrest in oil-producing countries Iraq and Ecuador raised concerns of supply disruption.

    Protests in Iraq and Ecuador over poor economic conditions are threatening to disrupt output from the members of OPEC. The death toll has climbed after a week of unrest in Baghdad, capital of the second largest OPEC producer. In Ecuador, protests against austerity measures could reduce the Andean producer's crude output by 59,450 barrels per day. Ecuador, one of the smallest OPEC members, is pulling out of the bloc next year because of fiscal problems.

    At the same time, OPEC saw its crude oil production plummet by the most in 17 years in September as the attacks on critical oil infrastructure in its largest producer Saudi Arabia took 5.7 million bpd offline for weeks. OPEC pumped 28.45 million barrels per day (bpd) of crude oil last month, down by 1.48 million bpd from August. The September overall production was also the lowest monthly OPEC oil production level since May 2009. Output in Venezuela further dipped, by another 100,000 bpd to just 600,000 bpd in September. Iran’s crude oil production also fell, by 70,000 bpd to 2.23 million bpd. OPEC is set to release official figures in its Monthly Oil Market Report on Thursday, Oct. 10.

    Trade uncertainties and geopolitical tensions continue to influence the fuel market. Trade war offset initial highs reached by the market on a U.S. decision to stop protecting Kurdish rebels in Syria.

    There are reports that the U.S.-China trade deal talks will be scaled down as the Chinese seem to not want to make any commitments as the Democrats continue to work towards impeachment. At the same time, there is information, that the Chinese had no intent in compromising on laws related to intellectual property. White House economic adviser Larry Kudlow, meanwhile, told that Chinese actions ahead of the trade talks, which included purchase of U.S. commodities, has been encouraging. He said the Trump administration remained optimistic of striking a deal at the talks that are resuming after being stalled in May. U.S.-China trade discussions will take place in Washington on Thursday, Oct.10 although expectations are low for a comprehensive deal that will end a trade war between the world's top economies

    At the same time U.S.-North Korea nuclear talks that resumed at the weekend after a lengthy break broke down due to what media reports described as irreconcilable differences.

    Trump warned in a tweet Monday about severe economic consequences for Turkey if the country does anything “off limits” following the White House’s announcement of U.S. troop withdrawal from Syria. His decision on the troop withdrawal pushed the oil indexes up.

    We expect bunker prices to demonstrate slight irregular changes today: plus/minus 1-3 USD for IFO, 7-9 USD up for MGO.




2021 October 16

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10:19 Star Pride delivered at the Fincantieri shipyard in Palermo
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2021 October 15

18:27 Sea Machines uses biofuel to power tug Nellie Bly on long-haul autonomous journey
18:07 Dublin Port Company to open €48m Dublin Inland Port
17:53 Danfoss Editron powering the first fast crew supply vessel able to compete with helicopter transfers
17:33 Tsawwassen First Nation and the Vancouver Fraser Port Authority sign renewed Relationship Agreement
17:09 Sevmash completed manufacturing of sections for offshore ice-resistant fixed platform LSP "A"
16:40 Global Ports Holding positions Kalundborg as an alternative to Copenhagen
16:33 Duisburg Rail Terminal welcomed the one millionth unit since it started the operations in 2013
15:13 Klaveness Combination Carriers signs a Letter of Intent with Shipshave AS to implement its semi-autonomous hull cleaning solution across its fleet
14:31 Wärtsilä next generation navigation simulator to power the Centre of Excellence in Maritime Safety in Singapore
14:09 Coral Consortium working on a water drone to regularly monitor water quality in the basins of the Port of Gdańsk
13:53 Port of San Diego adopts most ambitious maritime clean air strategy of its kind in California
13:22 LNGnews.RU supports 5th LNG Fleet, LNG Bunkering and Alternatives conference as its Media Partner
13:02 A.P. Moller - Maersk enters strategic partnership with Danish Crown on global end-to-end logistics
12:36 GTT is selected by Hyundai Heavy Industries to equip the tanks of two new LNG-fueled container vessels with its membrane containment technology and smart shipping solutions
11:47 Russian-Chinese joint naval exercise is underway in the Sea of Japan
11:23 Transneft Kozmino Port starts construction of maintenance site for servicing mariculture site
10:08 MABUX: Bunker prices may continue slight upward changes on Oct.15
10:02 Port of Long Beach has second-busiest September
09:56 Port of Oakland’s Danny Wan heads statewide port group
09:51 Rosneft sells 5% in Vostok Oil to a consortium of Vitol and MME
09:32 Crude oil prices rise driven by demand growth
09:19 Baltic Dry Index as of October 14

2021 October 14

18:05 MOL, SoftBank and e5 Lab start joint studies for next-generation maritime high-speed satellite communications
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17:15 Jan De Nul signs T&I contract for Gode Wind 3 & Borkum Riffgrund 3
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16:15 ABS and Kongsberg Digital join forces to power maritime digitalization and decarbonization
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2021 October 13

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