• 2019 October 18 08:42

    MABUX: Bunker Market this morning, Oct 18

    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 slight irregular changes on Oct.17

    380 HSFO - USD/MT 364.79 (-3.28)
    180 HSFO - USD/MT 407.70 (-1.86)
    MGO - USD/MT 661.52 (+1.59)


    Meantime, world oil indexes also demonstrated irregular changes on Oct.17

    Brent for December settlement increased by $0.49 to $59.91 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for November delivery rose by $0.57 to $53.93 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $5.98 to WTI. Gasoil for November delivery declined by $3.75.

    Today indexes dip after China, the world's largest oil importer, recorded its weakest quarter of economic growth in nearly three decades, dragged down by a trade dispute with the United States.

    In the third quarter, China's economic growth slowed to 6% year-on-year, its weakest pace in 27-1/2 years and below expectations, dogged by soft factory production amid ongoing trade tensions with United States and sluggish domestic demand. Crude demand growth tends to closely follow economic growth. Refinery throughput in September rose 9.4% from a year earlier to 56.49 million tonnes, on increases from new refineries and as some independent refiners resumed operations after maintenance.

    Jump in weekly U.S. crude inventories also pressured the oil prices. According to the Energy Information Administration U.S. oil inventories soared for the latest week, rising much more than the market expected. Crude stockpiles jumped 9.3 million barrels last week compared to expectations for a rise of about 2.9 million barrels. But Gasoline inventories fell by 2.56 million barrels, versus expectations for a drawdown of about 1.21 million barrels. Distillate inventories fell by 3.8 million barrels, with prediction a decline of about 2.4 million barrels.

    The decline in fuel stockpiles came after refinery runs fell to just over 83% last week, one of the lowest in years after the peak summer driving season. Refiners typically wind down operations during the fall season to do plant repairs or upgrades. This year, many refineries are taking longer to return to ensure compatibility with new maritime fuel rules, dubbed IMO, taking effect in 2020. The buildup in U.S. stockpiles comes amid broader concerns of slowing global demand, as U.S.-China trade tensions continue to take a toll on the world-wide economy. At the same time this can pressure an OPEC+ members to trigger deeper supply cuts,

    At the same time easing of geopolitical tensions in the Middle East supported oil prices. Turkey has agreed to a five-day ceasefire in northeast Syria to allow for withdrawal of Kurdish forces, U.S. Vice President Mike Pence said after talks with Turkish President Tayyip Erdogan on Thursday.

    Earlier news that U.K. and European Union leaders announced a tentative Brexit deal was supportive for oil prices, though the pact must be approved by the British parliament and other EU member states. U.K. Prime Minister Boris Johnson faces a tough task in winning approval.

    We expect bunker prices to demonstrate slight irregular changes today: 1-3 USD up for IFO, 2-4 USD down for MGO.




2021 June 19

15:37 BIMCO welcomes updated IMO Compendium to advance electronic data
14:19 TradeLens digital shipping platform adoption grows in China
13:49 Bimco launches initiatives to address shipping’s plastic footprint
12:31 First cruise passengers of the year in Gothenburg go ashore in a bubble
11:23 Austal Australia delivers 11th Guardian-class patrol boat

2021 June 18

19:30 Royal IHC hands over the second cutter suction dredger to Suez Canal Authority
18:02 Consolidated cargo turnover of NCSP Group in 4M’2021 fell by 18.7% YoY
17:39 Safety management of Sparta IV complies with the ISM Code
17:15 Oboronlogistics' Sparta III allowed to sail in Northern Sea Route waters
16:47 Acceptance/delivery certificate signed for non-self-propelled suction hopper dredger of Project 4395 built for Kama Basin
16:14 BIMCO publishes new standalone Refund Guarantee for Shipbuilding Contracts
15:51 FESCO opened seasonal transportation to the ports of Chukotka
15:30 CMA CGM to enhance its BSMAR service connecting Black Sea & Turkey with Morocco
15:22 Production of Icon of the Seas began at Meyer Turku shipyard
14:56 Wärtsilä signs multiple vessel support agreement with Nakilat
14:53 Multipurpose Reloading Complex puts into operation two new 5-cbm clamshell buckets
14:17 Singapore: Seven start-up grant recipients announced at launch of Smart Port Challenge 2021
13:48 The Lepse floating maintenance base no longer poses a nuclear threat to the Arctic
13:21 GLDD agrees to $1 million fine
12:59 Rosatomflot organized icebreaker escorting of LNG carrier Nikolay Urvantsev
12:54 Stena RoRo takes delivery of the lengthened vessel Stena Scandica from the Turkish shipyard
12:30 CMA CGM announces Overweight Surcharge from Asia to North Europe
11:45 Number of lock through operations on Russia’s IWW rose by 2.81%
11:02 ATLAS A-CLASS new WTIV tailored for large-scale Wind Farm Installations
10:38 Glavgosexpertiza of Russia approves project of in-depth modernization of Onezhsky Shipyard
10:02 CMA CGM announces Hazardous Surcharge from Asia to North Europe
09:53 Port of Oakland posts results for Jan-May 2021
09:40 Baltic Dry Index as of June 17
09:24 Oil prices continue decreasing
09:07 MABUX: bunker indexes may decline on June 18
08:59 DNV launches new digital EEXI Calculator

2021 June 17

18:37 PD Ports commended with top ‘Gold’ award for ongoing commitment to health and safety
18:07 Maersk advises logistics planners on hurricane season preparation
17:40 Trials of innovative smart navigation marker at Stockholm Norvik Port
17:23 Remote surveys continue to gain momentum
17:16 Konecranes instills new Generation 6 mobile harbor cranes with a genetic code for the future
17:06 MABUX: Bunker Weekly Outlook, Week 24, 2021
16:55 Sovcomflot to pay dividends in the amount of RUB 6.67 per share
16:50 KARMOL's first Floating Storage and Regasification Unit has arrived in Dakar
16:48 GTT entrusted by Hyundai Heavy Industries with the tank design for four new LNG carriers
16:18 HEMEXPO President appointed as Vice-Chair of SEA Europe
15:13 10 consecutive months of positive year-over-year growth in Savannah
14:52 Grigory Zhelokovich appointed as General Director of Astrakhan Ship Repair Yard
14:33 Royal IHC carries out maintenance work for DMI on LCF frigates
14:13 On-shore power plant at Kiel's Ostseekai inaugurated
13:54 Volga Shipping Company completes transportation of equipment for windfarm under construction in Kazakhstan
13:33 MARINE INTERIORS, Cruise & Ferry Global Expo, powered by SMM 2021 cancelled
13:33 Kalmar’s new-generation RTGs ready to enable productive eco-efficiency for container terminals
13:12 DNV and Keppel Offshore & Marine sign collaboration agreement to develop hydrogen projects in Singapore
13:00 Russia’s State Duma passes bill on obligations of investors in seaports
12:11 Covenant Energy chooses Haldor Topsoe’s HydroFlex™ and H2bridge™ solution to produce renewable diesel with low carbon footprint
11:49 RF Navy’s frigate Admiral Makarov took part in a complex exercise in the Mediterranean Sea
11:30 Global Ship Lease announces agreement to acquire four ultra-high reefer containerships on multi-year charters
11:02 Konecranes launches new generation of energy-efficient mobile harbor cranes as global trade accelerates
10:57 Port of Salalah ranked 6th globally in efficiency
10:51 Oil market sees downward price correction
10:09 MABUX: bunker indexes may demonstrate upward changes on June 17.
09:53 Port of Riga sees timber handling growth
09:30 Baltic Dry Index as of June 16
09:12 Weathernews signs strategic partnership deal with Wärtsilä