• 2019 October 28 10:23

    MABUX: Bunker Market this morning, Oct 28

    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) slightly increased on Oct.25

    380 HSFO - USD/MT 361.33 (+2.43)
    180 HSFO - USD/MT 401.79 (+1.90)
    MGO - USD/MT 669.35 (+2.70)


    Meantime, world oil indexes demonstrated irregular changes on Oct.25 as gloomy economic growth forecasts renewed concerns over the outlook for demand

    Brent for December settlement increased by $0.35 to $62.02 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for December delivery rose by 0.43 to $56.66 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $5.36 to WTI. Gasoil for November delivery declined by $1.25.

    Today indexes decline as data released in China reinforced signs that its economy is slowing, though progress in China-U.S. trade talks has supported prices.

    Profits at Chinese industrial companies fell for the second straight month in September as producer prices continued their slide, highlighting the toll a slowing economy and protracted U.S. trade war are having on corporate financial results. At the same time, there are signs of progress in China-U.S. trade talks.

    The Office of the U.S. Trade Representative (USTR) said on Oct.25 that Beijing and Washington are close to signing a partial trade deal. U.S. President Donald Trump said on the same day that negotiations between the two sides “are doing very well.” The two sides issued a statement on Oct.25 saying they are close to finalizing some parts of a trade agreement.

    U.S. energy companies also reduced the number of oil rigs operating this week, leading to a record 11-month decline as producers follow through on plans to cut spending on new drilling. The US oil and gas rig count fell sharply this week, according to Baker Hughes, with a drop of 25 rigs for the week. This week marks nine decreases out of the last ten weeks. The total oil and gas rig count now stands at 830, or 238 down from this time last year. The total number of active oil rigs in the United States decreased by 17 according to the report, reaching 696. That marks the first time since April 2017 that the oil rig count has fallen below 700. The number of active gas rigs decreased by 4 to reach 133. At the same time, production has grown from 11.7 million bpd at the beginning of the year to 12.6 million bpd for week ending October 18—a growth of almost 1 million bpd in less than a year.

    Russia's energy ministry said on Oct.25 it is continuing close cooperation with Saudi Arabia and the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC oil producers to enhance market stability and predictability. The statement came a day after Igor Sechin, CEO of Russian oil producer, Rosneft, said the September attacks on Saudi oil assets created doubts over its reliability as a supplier. The attacks temporarily shut down around half of the kingdom's oil output. OPEC+, an alliance of OPEC members and other major producers including Russia, has since January implemented a deal to cut output by 1.2 million bpd to support the market. The pact runs to March 2020 and the producers meet to review policy on Dec. 5-6.

    Adding further support to prices, officials at OPEC said extended supply curbs are an option to offset the weaker demand outlook in 2020. Saudi Arabia, OPEC’s de facto leader, wants to focus first on boosting adherence to the group’s production-reduction pact with Russia and other non-members, an alliance known as OPEC+, before committing to more cuts.

    Elsewhere, a suggestion by U.S. President Donald Trump that Exxon Mobil or another U.S. oil company could operate Syrian oil fields drew rebukes from legal and energy experts.

    A surprise decline in U.S. inventories of crude also supported oil indexes. The U.S Energy Information Administration surprised the market on Oct.23 by announcing a 1.7-million-barrel drop in domestic crude stockpiles, versus analysts’ expectations for a 2.2-million-barrel build.

    Bunker prices are expected to demonstrate slight irregular changes today: 1-3 USD up for IFO, 1-3 USD down for MGO.




2020 May 31

16:57 RINA: shareholders’ meeting approves the financial statement for 31 December 2019 and appoints a new Board of Directors
15:31 Board appoints non-executive director at V.Group
14:48 MM&P seeks help from Congress in battle to repatriate offshore crews
13:24 Svitzer A/S names new CEO
12:31 Subsea 7 announces cost reduction measures
10:52 Drydocks World begins second project for the Hollandse Kust Zuid Windfarm

2020 May 30

16:23 APL England master faces charges over shipping container loss
15:27 Xeneta Container Rates alert: continued global uncertainty hits rates, but worst fears yet to be realised
14:32 EC approves €600 million Finnish guarantee scheme to support maritime companies affected by the coronavirus outbreak
13:12 Bollinger Quick Repair takes delivery of new dry-dock “Mr. Eddie”
11:47 Sanmar and Svitzer deliver power and performance to Port of Sohar
10:58 Coast Guard Cutter James seizes 3,350 lbs of marijuana off Central American

2020 May 29

18:36 Port of Marseille Fos to constuct a new international ferry terminal
18:20 Sea Port of Saint-Petersburg boosts its infrastructure investments by 40%
18:06 PIL starts a new India Service - China India Express (CIX)
17:51 Petrotrans takes delivery of lead ship of Project RSD59
17:36 Rolls-Royce seals major contract covering complete MTU propulsion systems for Royal Navy Type 31 frigates
17:14 United Shipbuilding Corporation developed its own cargo ship design
17:06 ECSA welcomes TRAN opinion on future EU-UK partnership and urges rapid advancement of the talks in view of the looming deadline
16:15 Port Authorities pledging support to keep ports open during COVID-19 more than doubles within a month
15:52 Market of seaborne cargo transportation for wind farms is stable and expected to grow
15:46 Viking Line starts a passenger service from June 1
15:05 KiwiRail orders two new ferries
14:49 Admiral Makarov University introduced new GMDSS simulator class
14:05 Bollinger Shipyards delivers the USCGC MYRTLE HAZARD to the U.S. Coast Guard
13:41 Smart Delta Resources launches project to substantially reduce CO2 emissions in Scheldt-Delta region
13:09 Record engine powers world’s largest containership
12:48 Large amphibious ships of RF Navy's Black Sea Fleet conducted comprehensive exercise in sea training ground
12:30 Navigation season opens on Upper Lena and Lower Lena rivers
12:09 Global shipping body addresses the health concerns of seafarers during the COVID-19 pandemic
11:26 Vimpel Shipyard launches coast guard boat Lamantin of river-going design
11:03 LNG STS bunkering – ‚First-off‘ operations in France, Germany and Norway
10:28 Oil prices fall by over $1
10:09 DP World joins with TradeLens to digitize global supply chains
09:53 Bunker prices are stable at the port of Saint-Petersburg, Russia
09:35 Baltic Dry Index on May 28
09:20 Konecranes to deliver third mobile harbor crane to South Australia
09:17 MABUX: Bunker market this morning, May 29
08:46 CMA CGM announces FAK rates from Asia to North Africa, Mediterranean and North Europe

2020 May 28

18:37 CMA CGM ends ESS from North Europe, Scandinavia & Poland to West Med, East Med, Adriatic & North Africa
18:07 PortXchange results in shorter idle times on departure at APM Terminals Rotterdam
17:24 Independent Container Line starts new service from Cork to USA
17:20 Antwerp@C investigates potential for halving CO2 emissions in Port of Antwerp by 2030
16:49 Nevsky Shipyard launches lead ferry of Project PV22, Admiral Gennady Nevelskoy
16:17 Finland's new Water Traffic Act enters into force in June
16:05 Lubrizol joins the Getting to Zero Coalition
15:56 Wärtsilä high-efficiency propulsion solutions selected for special high-speed ferry
15:46 ABP keeps Britain trading in the safest way possible
15:02 Bunker prices show no considerable changes at the Far East ports of Russia (graph)
14:38 Bunkering tanker intended for Baikal lake delivered to the customer
14:00 WinGD wins type approval for biggest and most powerful ever dual-fuel engines
13:00 Gasum partners up with the sustainable transport solution provider company Samskip
12:30 More Konecranes BOXHUNTER RTGs to Vietnam
12:00 Konecranes and Fluidmesh join forces to deliver world-first 100% wireless Automated Rubber Tired Gantry crane system
11:30 EPS and Equinor set sights on a trio of newbuild LPG dual-fuel vessels
11:09 Boskalis awarded two dredging contracts in Finland
10:51 Oil prices continue going down
10:30 DNV GL releases first ever traceability standard for reclaimed plastic
10:09 Port of Stockholm announces arrival of the first container ship at Norvik Port
09:44 CMA CGM announces Overweight Surcharge (OWS) from Asia to North Europe