• 2019 November 5 09:50

    MABUX: Bunker Market this morning, Nov 05

    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) increased on Nov.04

    380 HSFO - USD/MT 365.57 (+6.75)
    180 HSFO - USD/MT 406.20 (+6.60)
    MGO - USD/MT 667.73 (+5.25)


    Meantime, world oil indexes also demonstrated upward evolution on Nov.4 on optimism at the prospect of a U.S. - China trade deal and hopes for deeper output cuts by OPEC and its allies next month.

    Brent for January settlement increased by $0.44 to $62.13 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for December delivery rose by $0.34 to $56.54 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $5.59 to WTI. Gasoil for November delivery increased by $16.00.

    Today indexes are stable as market awaits this week’s crude stockpile data.

    Weekly US crude inventory data due for release today and tomorrow is expected to show a further 2.7 million-barrel build for the week ending October 25.

    Hopes for a trade deal revived after Washington and Beijing said late last week that they had made progress towards resolving their protracted trade war, with U.S. officials indicating that a partial deal could be signed this month. Adding to the optimism, Commerce Secretary Wilbur Ross said on Nov.3 licenses for U.S. companies to sell components to China's Huawei would come "very shortly".

    China's President Xi Jinping and U.S. President Donald Trump have been in touch all along on the trade negotiations between the two sides, Chinese Foreign Ministry spokesman Geng Shuang said in remarks at a news briefing in Beijing on Monday. At the same time, Chinese government officials are considering locations in the U.S. where leader Xi Jinping would meet U.S. President Donald Trump to sign the deal

    Meanwhile production cuts by OPEC+ - 1.2 million barrels per day are also underpinning prices. Iran oil minister Bijan Zanganeh said that OPEC could further slash production from the current 1.2 million barrel per day at its next meeting on December 5.

    At the same time, Russia lowered its oil output to 11.23 million barrels per day (bpd) last month from 11.25 million bpd in September, missing again its obligations under a global pact to curb production. According to calculations, the pact indicates Russia should cap output at around 11.17-11.18 million bpd. Russian oil pipeline exports in October rose to 4.88 million bpd from 4.623 million bpd in September.

    Moreover, OPEC's output recovered in October from an eight-year low after a rapid rebound in Saudi Arabia's production from attacks on its oil infrastructure in September, offsetting losses in Ecuador and voluntary cuts under the pact.

    Bunker prices are expected to demonstrate upward changes today: 1-3 USD up for IFO, 10-15 USD up for MGO.




2024 March 29

14:25 Chevron’s first hybrid electric fueling barge arrives in Singapore
13:40 HD KSOE and Infineon sign MoU to develop ship electrification technology
13:29 NYK and JMU formulate method for evaluating ship performance in actual seas
12:59 HD Hyundai wins US$463 mln warship order in Peru
12:09 COSCO SHIPPING Ports throughput up by 4.4% YoY to 135,808,554 TEU in 2023
11:46 The "Ane Maersk" calls at the Eurogate container terminal in Hamburg for the first time on its maiden voyage from Asia to Europe
11:20 Sallaum Lines and Fujian Mawei Shipbuilding commence construction of Ocean Class vessels
10:43 Oasis Marine develops solutions for offshore hydrogen bunkering
10:03 Petrofac secures contract extension with ONEgas West in the UK market

2024 March 28

18:05 Jan De Nul, ENGIE and Equans launch a pilot project centred around the use of Vanadium Redox Flow batteries
17:35 Latvian port equipment manufacturer Bleste introduces new bulk handling ‘bucket’
17:05 Investors upgrade Navios Maritime Partners
16:25 DEME reports 22% increase in the orderbook and a record-high turnover of 3.3 billion euros in 2023
16:14 MABUX: Bunker Outlook, Week 13, 2024
15:41 AD Ports Group announced the opening of Saadiyat Marina & Ferry Terminal and Rabdan Marina
15:11 Sydney invests $11.5 million in two new operational vessels designed by Incat Crowther
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14:13 APM Terminals Moín handled six million TEU
13:48 ClassNK grants Innovation Endorsements for Products & Solutions to two innovative initiatives by MOL
13:37 Konecranes launches its flagship Konecranes X-series industrial crane
12:53 United European Car Carriers UECC spearheads collaboration with industry leaders to advance CNSL as a sustainable marine fuel
12:26 Ocean Network Express announces Transpacific service
11:48 Yang Ming announces 2025 Trans-Pacific service network
11:24 Fincantieri signs contract for the supply of two PPAs to Indonesia
10:42 Maersk transported more than 660,000 TEU using clean fuel in 2023
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2024 March 27

18:22 Bureau Veritas awards world’s first prototype certification for SolarDuck’s floating offshore solar solution
17:58 The recently converted Allseas's shallow water pipelay barge starts preparations for its first commercial project
17:38 The Port of Rotterdam calls on the European Commission and Parliament to focus on actively promoting green energy
15:23 SEFE to become sole shareholder of WIGA
14:53 Ocean Installer secures yet another SLM contract with Equinor
14:23 Cadeler signs offshore wind turbine installation contract for the vessel Wind Scylla
13:42 Carnival Cruise Line orders 5th Excel-class cruise ship
13:11 Maersk and MSC overcharging cargo owners for EU ETS, says T&E
12:52 The Port Authority of Valencia launches the ZAL project in the Port of Valencia
12:11 Clarkson Port Services and Peak Group collaborate to deliver Port Agency services across the North Sea
11:42 Wan Hai Lines holds ship naming ceremony for new vessels
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10:49 Seaspan Shipyards receives long-term contracts for the pre-construction work of the the Canadian Coast Guard's first six multi-mission vessels
10:14 Woodside completes sale of 10% scarborough interest

2024 March 26

18:02 COSCO Shipping Lines introduces new Americas service
17:30 Davie awarded first contract for design of icebreaker fleet under Canada’s National Shipbuilding Strategy
17:04 Sanctions complicate Arctic LNG ship sales, Hanwha Ocean says - Bloomberg
16:57 Terntank places an order for 1+1 additional wind/ methanol-ready hybrid tanker
16:28 BW LNG completes acquisition of two TFDE vessels from Stena Bulk
15:50 Hanwha Ocean develops VR-based special vehicle simulator
15:20 TotalEnergies and SINOPEC join forces to produce sustainable jet fuel at a SINOPEC's refinery
14:52 Wärtsilä Lifecycle Agreement to guarantee operational reliability of new wind farm installation vessel
14:23 Hudong-Zhonghua launches two LNG carriers
13:51 Cargo ship hits Baltimore’s Key Bridge
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12:21 IHI and Yara Clean Ammonia agree to jointly assess clean ammonia business collaboration
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11:16 Wartsila and Royal Caribbean Group celebrate 15 years of collaboration on digital transformation
10:46 A global carbon tax on shipping is coming, says ABS Chairman and CEO
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2024 March 25

18:07 The Maritime and Port Authority of Singapore continues to investigate reports of oil spills off the port of Tuas
17:31 “K” Line, NIPPON HAKUYO and OPT Gate sign an agreement for a new fire detection system for car carriers
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13:59 Сruise ship Carnival Freedom catches fire near Bahamas
12:59 Hanwha Ocean wins 2.4 tln-won order for 8 LNG ships
11:16 Inland Ports meet in Paris to talk about the innovation potential of inland ports
10:50 IMO agrees possible outline for maritime “net-zero framework”