• 2019 November 1 10:53

    MABUX: Bunker Market this morning, Nov 01

    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) decreased on Oct.31

    380 HSFO - USD/MT 356.25 (-0.69)
    180 HSFO - USD/MT 307.88 (-1.19)
    MGO - USD/MT 665.83 (-1.90)


    Meantime, world oil indexes also demonstrated downward evolution on Oct.31

    Brent for January settlement decreased by $0.38 to $60.23 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for December delivery fell by $0.88 to $54.18 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $6.05 to WTI. Gasoil for November delivery declined by $15.00.

    Today indexes rise rebounding from a U.S. inventory build and fresh uncertainty on Sino-U.S. trade developments that sent oil markets down in the previously session.

    Also weighing on oil prices was the information about Chinese officials were casting doubts about reaching a comprehensive long-term trade deal with the U.S. They remain concerned about President Donald Trump’s impulsive nature and the risk he may back out of even the limited deal both sides say they want to sign in the coming weeks. Trump said in a tweet overnight that Beijing and Washington are searching for a new venue for the signing of a phase one trade deal.

    The rise of U.S. crude stockpiles also pressures the prices. The EIA reported on Oct.30 that U.S. crude stockpiles rose by 5.7 million barrels for the week ended Oct. 25. The market was looking for a rise of about 494,000 barrels.

    U.S. crude production soared nearly 600,000 barrels per day in August to record of 12.4 million, buoyed by a 30% increase in Gulf of Mexico output. The U.S. has become the world’s largest oil producer with output surging to records above 12 million bpd this year as technological advances have increased production from shale formations across Texas, North Dakota and New Mexico. All three states saw output rise in August.

    At the same time, OPEC oil output has bounced in October from an eight-year low as a rapid recovery in Saudi Arabian production from attacks on oil plants more than offset losses in Ecuador and voluntary curbs under a supply pact. OPEC has pumped 29.59 million barrels per day (bpd) this month, up 690,000 from September's revised figure which was the lowest monthly total since 2011. Initially expected to take months, Saudi Arabia's production recovery from the Sept. 14 attacks took only weeks.

    Saudi Arabia has pumped 9.90 million bpd, up 850,000 bpd from September. Before last month's attack, Saudi Arabia was already restraining output by more than called for by the OPEC-led supply deal to support the market. The country is still pumping more than 400,000 bpd less than the agreement allows it to.

    We expect bunker prices to demonstrate downward changes today: 1-3 USD down for IFO, 10-15 USD down for MGO.




2024 May 20

18:00 ADNOC secures equity position and LNG offtake agreement in NextDecades Rio Grande LNG Project
17:31 EDGE Group and Fincantieri formalise MAESTRAL shipbuilding JV and announce 400 mln euro order for 10 naval vessels
17:02 Genevos awarded European Commission funding for hydrogen fishing vessel demonstrator in ‘H2-SEAS’ consortium
16:43 MAI to invest in ship investment fund managed by Navigare Capital Partners
16:29 Three year collaboration between EMEC and FloWave offers wave and tidal energy developers ‘try-before-you-buy’ site simulation capability
15:58 IndustriAll Europe and SEA Europe agree on joint priorities ahead of the 2024 EU elections
14:51 Fincantieri shipyard launches Logistic Support Ship ‘Atlante’ for the Italian Navy's fleet
13:24 MOL Cruises announces the six inaugural cruises of MITSUI OCEAN FUJI
12:21 Deltamarin designs CO2 carrier of Ecolog
11:50 Tsakos Energy Navigation plans to invest $2 billion to create a 100% green fleet by 2030
11:23 Horizon Tankers order six newbuilds in China
10:55 Turkish-owned cargo ship sinks off Romania
10:15 Serica Energy receives final approval from the NSTA to develop the 100% owned and operated Belinda field

2024 May 19

15:43 RWE, Masdar award geophysical surveys contract for DBS West offshore wind farm
14:27 Intesa Sanpaolo and Fincantieri for the energy transition of maritime and air transport
14:03 MSC Cruises to expand at Port Canaveral with the arrival of the MSC Grandiosa
13:56 Noatum launches maritime services in Türkiye
12:44 New Pipeline Transition Alliance to focus on re-purposing natural gas infrastructure to hydrogen service
11:29 Yantai CIMC Raffles Offshore Ltd. shipyard launches dual-fuel offshore installation vessel for Van Oord
11:23 Major Scottish export terminal invests £750,000 to boost refrigerated cargo capabilities
10:12 Jan De Nul orders new XL cable-laying vessel

2024 May 18

15:24 SNAM's Q1 total revenues declined 1.9% to 895 million euros
14:17 KOTUG Int'l successfully pilots Tug Drone technology
12:04 Austal USA names Mark Santamaria as CFO
11:36 Silver Ships delivers four of seven coastal fast response boats
09:51 CMA CGM posts revenue of 11.8 billion for Q1 2024

2024 May 17

18:10 Bunker fuel sales at the Middle Eastern hub of Fujairah drop on a monthly basis in April 2024
17:52 Lloyd’s Register and Shandong Marine Group sign MoU
16:43 China reveals cooperation methods to protect and restore the Yangtze River
16:03 APM Terminals Barcelona holds the commissioning of 17 Konecranes NSC 644 EHY hybrid straddle carriers
15:13 Marine fuel demand in Panama declined in April 2024
14:43 MITSUI E&S and PACECO commence commercial operations of world's first hydrogen fuel cell zero emission RTG crane at Port of Los Angeles
14:23 ILWU Canada agrees to delay serving 72-hour strike notice on employer DP World Canada
13:31 Barge hits a bridge in Texas, damaging the structure and causing an oil spill
13:10 Container shipping costs on EU-S. Korea route surge over 30 pct amid Red Sea crisis
12:43 DP World invests €130m in Romania
12:21 Astrakhan hosts Russia-Iran talks on shipping cooperation on International North-South corridor
11:41 Seatrium awarded repeat FPSO integration contract from SBM Offshore
11:04 Bureau Veritas report highlights the potential of carbon capture technologies and the development of carbon value chains for shipping
10:41 Electramar christened in Helsinki
10:07 IMO Secretary-General spotlights seafarer safety amidst ongoing Red Sea attacks and resurging piracy
09:58 MABUX: Bunker Outlook, Week 20, 2024

2024 May 16

18:11 Kongsberg and Torghatten to develop self-driving ferry service linking Trondheim and the Fosen peninsula
17:42 “K” Line сonducts first trial use of B100 biofuel for carbon-free operations on car carrier
16:35 Deltamarin and ECOLOG unveil LP LCO2 carrier design
15:40 Seadrill enters agreement to sell its Qatar jack-up fleet
15:24 Scan Global Logistics and Hapag-Lloyd enter into major biofuel agreement in a new Green Collaboration
14:48 Edison Chouest feeder fleet for U.S. offshore wind market to be built to ABS Class
14:03 The Australian Government announces a funding package of $7.1 billion for budgeted programs to be administered by ARENA
13:54 The share of the idle container vessel fleet was 0.9% in April - Sea-Intelligence
13:25 The European Commission grants PCI status to CO2 value chain project developed by MOL with partners
12:14 HHLA's revenue decreased by 0.3 percent to € 363.6 millions in Q1 2024
11:42 MOL and TotalEnergies sign time charter contracts for 2 newbuilding LPG-fueled LPG carriers
10:40 Kalmar and Uniport Livorno agree on new terminal tractor order to enhance reliability, safety and service quality at Italian terminal
10:04 AMSA collaborates on a trial providing more recycling options for visiting foreign ships
09:59 SunGas Renewables and C2X announce strategic partnership

2024 May 15

18:07 MOL holds naming ceremony for newbuilding LNG carrier Greenergy Ocean to serve China National Offshore Oil Corporation
17:30 ClassNK and StormGeo mark significant collaboration to advance maritime decarbonization
17:02 Newly certified methanol valves to improve dual-fuel shipbuilding
16:45 HD KSOE to lease Subic shipyard in Philippines
16:25 Eidsvaag receives two forage carrier vessels designed and equipped by Kongsberg Maritime
15:58 ADNOC delivers first ever bulk shipment of CCS-enabled certified low-carbon ammonia to Japan
15:35 World's 1st wind challenger-equipped coal carrier achieves fuel savings of 17%
14:57 LR to support the retrofit of two Stena Line ferries to methanol
13:52 Port of Los Angeles nets record $58 million for harbor maintenance
13:32 CMA CGM to launch MCX - West Coast Central America
12:51 Port of Long Beach cargo volumes up 14.4% in April
12:21 First Ro-Pax vessel receives DNV Silent notation following successful sea trials with Wartsila propellers
11:41 Hapag-Lloyd transport volumes increased by 6.8 percent to 3 million TEU in Q1 2024
11:10 Cavotec signs two-year service agreement with Port of Salalah