• 2019 October 16 08:35

    MABUX: Bunker Market this morning, Oct 16

    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 downward  changes on Oct.15

    380 HSFO - USD/MT 372.92 (-11.88)
    180 HSFO - USD/MT 412.65 (-10.46)
    MGO - USD/MT 657.74 (-7.30)


    Meantime, world oil indexes also demonstrated irregular changes on Oct.15 amid concerns about the positive result of U.S.-China trade talks and OPEC’s hope to balance markets beyond 2020 in a sign of possible further supply curbs.

    Brent for December settlement decreased by $0.61 to $58.74 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for November delivery fell by $0.78 to $52.81 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $5.93 to WTI. Gasoil for November delivery increased by $4.25.

    Today indexes rise on hopes on a potential Brexit deal between Britain and the European Union and on signals from OPEC and its allies that further supply curbs could be possible.

    Last talks between Britain and the European Union to get a Brexit deal ahead of a summit of the bloc's leaders this week ran past midnight to Oct.16, but it was still unclear if Britain could avoid postponing its departure, due on Oct. 31. It is expected any deal that avoids a "hard" or no-deal Brexit should boost economic growth and in turn oil growth and prices.

    Providing more support, OPEC Secretary-General Mohammad Barkindo said the Organization of the Petroleum Exporting Countries "will do whatever (is) in its power" along with its allied producers to sustain oil market stability beyond 2020.

    Oil indexes are under the pressure because of the doubts emerged over the trade agreement touted by President Donald Trump at the end of last week due to a lack of detail and after reports China wanted further talks before completing the agreement. Some said upside on trade optimism may be limited barring further movement on U.S.-China import tariffs which have been blamed for slowing global economic growth and lowering oil demand.

    Data on Oct.15 showed that German investor sentiment worsened again in October amid concern that Europe's biggest economy is headed for a recession. Meanwhile, a report overnight showed that China's factory gate prices declined at the fastest pace in more than three years in September. That came after customs data on Oct.14 showing that Chinese imports contracted for a fifth straight month in September. The weak data added to worries over the global economic fallout from the protracted Sino-U.S. trade war, despite claims of progress toward a deal, and added to doubts over the future outlook for oil demand.

    Russia and Saudi Arabia signed new cooperation agreements covering oil services and petrochemicals, on the sidelines of Russian President Vladimir Putin’s state visit to Saudi Arabia on Oct.14. Cooperation between the two countries has increased in recent years, with bilateral energy agreements emerging alongside the establishment of the OPEC/non-OPEC crude production agreement.

    Iran will not leave the last Friday attack on the Sabiti tanker unpunished, President Hassan Rouhani said during his media conference. The Iranian President also said government officials had seen footage of the attack and it suggested several rockets had been launched at the vessel. Rouhani did not say who Tehran believed the culprit was but did note that it looked like the party behind the attack was a government rather than a terrorist group. Iranian tanker Sabiti was attacked on Friday, off the Saudi coast near the port of Jeddah. Initial reports in the Iranian media blamed the attack on Saudi Arabia, but later the National Iranian Tanker Company, which confirmed the attack, said there was no evidence pointing towards any one particular country. Saudi Arabia was quick to deny any blame.

    On Oct.14 U.S. President Trump imposed sanctions on Turkey and demanded the NATO ally stop a military incursion in northeast Syria that is rapidly reshaping the battlefield of the world's deadliest ongoing war. Prices could also get a boost this week as investors are expecting a drawdown in crude inventories in the United States.

    We expect bunker prices to demonstrate irregular changes today: 3-5 USD up for IFO, 2-4 USD down for MGO.




2020 September 21

16:14 LR and the NPL partner on marine autonomy assurance
15:56 FESCO’s container train links Saint-Petersburg and Vladivostok
14:45 Point system developed in Russia for estimation of local content in shipbuilding
14:10 Nakilat transitions LNG Al Rekayyat to in-house management
13:33 Average spot market price for Russian M100 product fell to RUB 12,512 pmt
13:04 Work commences on Phase-2 wharf revetment and land reclamation at Port of Kaohsiung's 7th Container Terminal
12:59 Algeciras, Amsterdam, Lisbon and Puertos del Estado shortlisted for 12th ESPO Award
12:22 Towing of seagoing tugboat Andrey Stepanov along Northern Sea Route completed
12:01 Fincantieri launches the first patrol vessel for Qatar
11:00 BeHydro dual-fuel hydrogen engine awarded Approval in Principle by LR
10:39 Remote audits discussed to avoid further disruption to audit schedule
10:02 Philippine Ports Authority launches COVID-19 contact tracing system for all port users, community
09:41 Oil prices are slightly up
09:23 MABUX: Bunker market this morning, Sep 21
09:08 Baltic Dry Index as of September 18

2020 September 20

16:27 Innovative vacuum cleaner removes plastic from nature reserve in the port of Antwerp
15:33 Master and chief engineer plead guilty in MV Funing case
14:07 World’s largest LNG bunkering vessel arrives in Rotterdam
12:38 Austal Australia delivers 7th GCPB
11:14 ABS to class another four VLEC for Zhejiang Satellite Petrochemical
10:49 MBZ and Boluda Towage Europe ink the 5-year concession agreement for providing sustainable towage service in the Port of Zeebrugge

2020 September 19

15:04 Vroon to recycle three PSVs
14:11 Limited openings at Erasmus Bridge for tall vessels
13:46 The construction of Finnnline's second hybrid ro-ro vessel started
12:33 USCG offloads estimated $216 million of cocaine, marijuana at Port Everglades
11:17 New Maritime Minister visits Port of Southampton

2020 September 18

18:53 Russian ports switch to unified digital platform for daily scheduling of vessels layout and traffic
18:17 KR issues world’s first cyber security class notation to HHI for very large LPG carriers
17:59 Rosmorport takes part in TRANSTEC International Transport Corridors Forum
17:37 Land purchase in Saint Petersburg: new service center for SCHOTTEL in Russia
17:26 Start-ups invited to enter competition to win £75,000 grant to develop innovate port technology
17:11 New high-speed passenger ship put into operation in Yamal-Nenets Autonomous District
17:06 SEACOR Marine forms new Sustainability Council to lead enhanced ESG program
16:51 District awards $15.4 million contract to dredge Freeport Lower Stauffer Reach channel
16:48 DP World and Dubai Customs to assess opportunities to develop trade links between UAE and Israel
16:30 Gazprom Nedra and Marine Rescue Service test SeaDrone MG in Arctic conditions
16:09 SG-STAR Fund: First global tripartite initiative to support countries for crew change
16:02 IUMI raises concerns over increased accumulation risk for yachts and inland vessels
15:43 USCG releases new plan to protect global maritime security
15:08 CMA CGM informs of revised port charges in Ghana
14:51 Bunker prices are stable at the Port of Saint-Petersburg, Russia (graph)
14:24 Goods traffic between North Sea Port and hinterland by inland waterways continues to increase
14:07 Vostochny Port installs four more dust capturing units
13:10 Last jackets to leave Dubai and head for the Moray East offshore wind farm
12:53 Admiralteiskie Verfi shipyard starts assembling major equipment on two trawlers for RFC
12:22 Reconstruction of Klaipeda Seaport breakwaters to increase competitiveness of economy in Lithuania
12:01 Kalmar to support DP World’s continuing expansion at Caucedo with new terminal tractors and empty container handlers
11:03 Naming ceremony held for Japan’s first LNG bunkering vessel
10:48 BIMCO introduces new PIs and KPIs to help improve performance
10:16 ECSA publishes study on implications of EU ETS for shipping
10:10 Keel laying of Tallink’s newest vessel MyStar takes place in Rauma shipyard, Finland
09:54 Port of Oakland import volume up for third straight month
09:51 MABUX: Bunker market this morning, Sept 16
09:47 Tallink Grupp’s vessel Baltic Queen arrives in Riga for the first time
09:23 Oil prices rise after a recent decrease
09:09 Baltic Dry Index as of September 17

2020 September 17

18:05 Digital Twin Ready certification awarded to Furuno
17:54 Damen launches Marine Aggregate Dredger for Hanson
17:52 Verifavia launches industry’s first “3-Way Plug & Play” dashboard
17:41 Nord Star officially listed as first resident of RF Arctic Zone