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  • MABUX: Bunker Market this morning, Oct 18
  • 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.




2022 August 19

18:10 An important milestone for the Hapag-Lloyd and DAL integration
17:57 IAA PortNews’ summary of past week news
17:39 USC to introduce enhanced financial control of shipbuilding contracts
17:18 Diana Shipping announces sale and leaseback of m/v New Orleans and m/v Santa Barbara
17:02 Danube water levels drop exposed wrecks of German warships sunken in 1944 – Reuters
16:55 RUB 6 billion needed to support Far East shipyards to offset their investment in building crab catchers - Denis Manturov
16:27 APM Terminals attracts new services to support booming Latin American trade routes
16:01 SCZONE’s MDC and DP World sign a contract for a logistic zone in Sokhna
15:40 Shipbuilding facilities have to be upgraded for implementation of new projects by 2030 — Denis Manturov
15:22 ABS Rules guide new greener OSV
15:03 Capacity utilisation within Russia’s shipbuilding sector is quite high - Denis Manturov
14:39 CMA CGM Group and WHOI launch acoustic monitoring buoy off the coast of Savannah, to increase whale monitoring efforts
14:19 A.P. Moller - Maersk engages in green bio-methanol partnership with Debo
14:04 New operator of Sakhalin 2 project, Sakhalin Energy LLC, commences operation
13:52 APM Terminals wins auction for UPI-B Cais Sul bid, confirms investments in Suape
13:21 Xeneta real-time container rates update: Week 33
12:19 OOCL announces 2022 interim results
11:48 Port of Baku reports 15.7-pct increase of its cargo throughput in H1'2022
11:24 AKA and e-Link join hands to accelerate net-zero waterway transportation
11:07 Vladimir Putin emphasized the need to minimize delays in civil shipbuilding schedules
10:32 China ports Jan-Jul container volume rises 4.2%,Ningbo Containerized Freight Index drops in August
10:04 Morten Holm Christiansen becomes interim CFO at Topsoe
09:50 Global Ports’ revenue in H1’2022 rose by 18.2% YoY to $271.6 million
09:16 Crude oil futures fall on concerns over economic growth slowdown
08:56 MABUX: Global bunker prices to continue firm upward evolution on Aug 19

2022 August 18

18:41 Yilport Holding appoints co-CEO
18:01 Propulsion and hull design can significantly reduce shipping emissions and lower underwater noise - VTT
17:42 Ghana Chamber of Shipping becomes Associate ICS member
17:31 Boskalis posts H1 2022 results
17:15 Posh acquires offshore construction vessel from BOA
16:45 Port of Aberdeen and Stillstrom to collaborate on pioneering cleantech
16:42 Daugavgriva shore reinforcement continues by the order of the Freeport of Riga Authority
16:10 Anaergia’s Toender plant to supply CO2 to European Energy A/S for green E-methanol production as fuel for container ships
15:50 Norsepower signs agreement with Dalian Shipbuilding to install Rotor Sails onboard two newbuild CO2 carrier vessels
15:33 Mechel attributes decrease in coal sales in 1H'22 to limited carrying capacity of railroads leading to FE ports
15:14 Fluxys, ArcelorMittal Belgium and North Sea Port start a feasibility study for the Ghent Carbon Hub project
14:41 Europe experiences its worst drought in 500 years - Xclusiv Shipbrokers
14:21 APM Terminals adds new services to support booming Latin American trade routes
14:15 21 ships shipped 563,318 tonnes of food products from Ukrainian ports from 1 August 2022
14:01 Global Maritime Services launches Marine Advisory for the FSRU & LNG sector
13:31 China to lift fishing ban in a phased manner in August and September - Standard Club
13:10 Ardmore Shipping expands presence in Singapore to support energy transition plan
13:04 MABUX: Bunker Weekly Outlook, Week 33, 2022
12:40 The average vessel utilisation on the major head-haul trades continues to be below the threshold - Sea-Intelligence
12:37 Over 3,000 TEU transported between Russia and Europe by FESCO European Railway Network
12:20 ABS contracted to address barriers to adoption of advanced nuclear technology at sea
12:00 Maersk Tankers welcomes Korean SK Energy as a pool partner
11:40 Kalmar terminal tractors chosen by Maldives Ports
11:20 KiwiRail selects MAN's engines for new ferries
11:03 Royal IHC and Karnafuly Ship Builders sign contracts for design, engineering and equipment of four CSDs
10:36 Port of Oakland July volume drops 28 percent in July 2022
10:23 Port of Los Angeles container volume up to record 935,345 TEU in July 2022
10:14 Overhaul of Berth No. 29 drainage networks completed in Vostochny port
09:57 Port of Long Beach welcomes Pasha Hawaii LNG-powered ship
09:15 Crude oil futures are slightly up driven by a number of factors
08:46 MABUX: Global bunker indices may turn to upward changes on Aug 18

2022 August 17

18:37 NFE and Apollo funds complete $2 bln LNG maritime joint venture
18:07 Steerprop to supply a complete propulsion package for first-of-its-kind Wind Installation Vessel
17:31 Svitzer brazil strengthens fleet with two newbuilds
17:23 SFL Corporation agrees to acquire four Suezmax tankers in combination with long term charters