• 2019 October 29 10:47

    MABUX: Bunker market this morning, Oct 29

    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 upward trend on Oct.28:

    380 HSFO - USD/MT – 363.54 (+2.21)
    180 HSFO - USD/MT – 405.27 (+3.48)
    MGO - USD/MT – 670.31 (+0.96)


    Meantime, world oil indexes fell on Oct.28 as expectations U.S. crude stockpiles will rise and worries about weak Chinese industrial data offset hopes oil demand will increase if talks progress on a Sino-American trade deal.

    Brent for December settlement decreased by $0.45 to $61.57 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for December delivery fell by $0.85 to $55.81 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $5.76 to WTI. Gasoil for November delivery lost $6.00.

    Today morning oil indexes have started in the phase of slight downward evolution again.

    After building for three weeks in a row, U.S. crude oil stockpiles at the Cushing, Oklahoma, delivery point for WTI, have risen by about 1.5 million barrels in the week through Oct. 25, (as per data from market intelligence firm Genscape). Total U.S. crude inventories were forecast to have increased by around 700,000 barrels last week.

    Russia said that OPEC and its oil-exporting allies would factor in the slowdown of U.S. oil output growth when they meet to discuss their output agreement in December. It was also noted that it is too premature to talk about deeper production cuts. A shale boom, led by output increases in Texas and North Dakota, helped make the United States the biggest oil producer in the world, above Saudi Arabia and Russia. However, the rate of growth has slowed this year as U.S. energy firms have reduced the number of oil rigs as producers follow through on plans to cut spending on new drilling this year.

    Top U.S. and Chinese trade negotiators have discussed a plan in which China would buy more farm products in exchange for the U.S. removing some tariffs. The outlines of the partial deal are striking since they would essentially attempt to take the trading relationship back to where it was before the trade war. Even still, there is a long way to go – for now, President Trump has only agreed to cancel the October 15 tariff increase on $250 billion worth of goods. China is offering more purchases, but also wants the planned December tariffs scrapped.

    Meantime, data released in China reinforced signs that its economy is slowing. 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 balance sheets.

    IMF predicted that Iran would need oil priced at $194.6 a barrel to balance its budget next year. Hurt by tighter U.S. sanctions, Iran is expected to have a fiscal deficit of 4.5% this year and 5.1% next year. Iran’s economy is expected to shrink by 9.5% this year, compared to a prior estimate of a 6% contraction, but real gross domestic product (GDP) growth is expected to be flat next year. The IMF forecast Iran’s exports of goods and services to drop to $60.3 billion this year from $103.2 billion last year, and to fall further to $55.5 billion in 2020.

    India, one of the drivers of oil demand growth in Asia and the world, has just seen its oil imports drop to three-year lows and fuel processing rates plunge to a 15-year low, as slowing economic growth is taking its toll on demand. Refinery runs in September were at their lowest in 15 years, amid waning demand for fuels. Crude oil processing in India dropped by 6.9 percent on the year in September, which was the largest annual decline since June this year. Some refineries were shut for maintenance and others for fuel upgrades because India is getting ready to migrate in April next year to less polluting fuels in order to cut emissions. It is expected that India’s economic growth is set to slow down in the near future, and this could further impact India’s fuel demand.

    We expect bunker prices may demonstrate slight downward evolution today in a range of minus 2-5 USD.   




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