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  • MABUX: Bunker market this morning, Nov 26
  • 2019 November 26 10:44

    MABUX: Bunker market this morning, Nov 26

    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 decreased on November 25.

    380 HSFO: USD/MT – 339.88 (-3.62)
    180 HSFO: USD/MT – 384.54 (-3.86)
    MGO: USD/MT – 665.07(-0.39)


    Meantime, world oil indexes rose on Nov.25 as positive comments from the United States and China rekindled hopes in global markets that the world’s two largest economies could soon sign an interim deal to end their trade war.

    Brent for January settlement increased by $0.26 to $63.65 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for January delivery rose by $0.24 to $58.01 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $5.64 to WTI. Gasoil for December delivery gained $1.00.

    Today morning oil indexes do not have any firm trend so far.

    Chinese daily Global Times on Nov. 25 cited experts close to the Chinese government as saying that China and the United States have reached a broad consensus on the first phase of the trade deal, though some differences remain over the removal of tariffs. U.S. President Donald Trump and Chinese counterpart Xi Jinping last week expressed a desire to sign an initial trade deal and defuse a 16-month tariff war that has lowered global growth. However, concern remains that events in Hong Kong, riven by months of anti-government unrest, could undermine progress in trade talk.

    Renewed conflict in the Strait of Hormuz pushed the United States to establish an international coalition for maritime security to ensure safe passage of shipping traffic and guarding against further disruption in oil supplies. While such security coalitions have been successful in the past, applying the same approach in the Middle East may not improve conditions and may even exacerbate tensions. The Strait of Hormuz is the primary shipping route for one-sixth of global oil production and one-third of the world’s liquefied natural gas.  Despite the recent incidents and rhetoric from Iran about shutting down the Strait of Hormuz to global oil shipping, there has not been a corresponding increase in oil prices, other than a short-term blip.

    An infamous Iranian hacker group may be targeting industrial control systems to cause major disruptions in power grids, oil refineries, and other physical energy assets, in an apparent sharpened focus on cyber warfare on critical industries. These attempts by Iranian hackers to infiltrate systems controlling energy assets come at a time of heightened tension between the United States and Iran and at a time of increased cyber threats to the energy industry in the United States and globally. It’s unclear if the hackers have cracked any of the systems they attempted to hack. Their motivation is also unclear, but Microsoft thinks that the ultimate goal is to try to gain access to a system in order to carry out a physically devastating attack on critical infrastructure, such as energy infrastructure.

    The OECD said that global GDP growth will slow to 2.9 percent this year, and stay at about that rate through 2021. It’s the weakest expansion since the financial crisis a decade ago. Last year, GDP grew by 3.5 percent. Worse, the OECD said these weren’t temporary problems. As per OECD, without coordination for trade and global taxation, clear policy directions for the energy transition, uncertainty will continue to loom large and damage growth prospects.

    Refineries across the United States have reduced their total crude oil processing so far in 2019, as demand for oil products both in America and abroad has weakened. The cutting of rates has helped refiners avoid a fuel glut domestically, but lower processing rates have built an oversupply in crude. Some of the decline in crude oil input into refineries could be attributed to the shutdown of the Philadelphia Energy Solutions refinery complex with a total refining capacity of 335,000 bpd, which was the largest such complex on the Eastern seaboard, before several explosions and a huge fire damaged the complex in June this year.

    Russia’s gas Company Gazprom sold on Nov.22 3.6 percent of its voting shares, raising almost US$3 billion in the sale. The company, however, did not disclose who the buyers of the stake were, and it actually wasn’t obliged to, because the stake sale was of less than 5 percent. It is expected, that the sale of shares would be a positive thing for Gazprom in the medium term as its free float grows and as its share in the stock exchange indexes could also grow. Just over 50 percent in Gazprom is controlled by the Russian government. The Russian company has often been accused of fulfilling Moscow’s political goals on the European gas market.

    We expect bunker prices may demonstrate slight upward trend today in a range of plus 1-4 USD.




2022 January 19

14:08 Growing orders for Alfa Laval FCM LPG fuel supply systems reflect strength in Alfa Laval’s broad LPG offering
13:45 Throughput of Novotrans at Ust-Luga port’s ferry terminal rose by 9.2% in 2021
13:24 ABB adds digital analytics feature to turbochargers, giving performance visibility to shipowners
12:51 Port of Corpus Christi finishes Fiscal Year 2021 with record tonnage
12:50 FESCO delivers equipment for NPP Akkuyu in Turkey
12:27 Helsinki City Board approves the Port of Helsinki Ltd development programme
12:13 METIS adds new functionality to cloud-based platform to enhance decarbonisation and compliance support
11:41 North makes key Fixed Premium P&I appointments to accelerate diversification drive
11:35 Jumbo-SAL-Alliance delivers comprehensive transportation solution for the transportation of offshore platform modules
11:23 Throughput of Murmansk Sea Fish Port in 2021 rose by 20.7% YoY
11:01 Throughput of Rostov-on-Don port in 2021 fell by 15%, year-on-year
10:39 MABUX: Bunker price may continue upward changes on Jan 19
10:16 DNV: “No room for complacency” despite advancement in shipping safety
10:02 Norilsk Nickel to have icebreaker built by Helsinki Shipyard Oy
09:29 Baltic Dry Index as of January 18
09:13 Crude oil prices continue rising amid high demand

2022 January 18

18:45 X-Press Feeders launches Germany Sweden X-Press
18:04 Crown Estate Scotland announces the outcome of the first Scottish offshore wind leasing round in over a decade
17:52 Throughput of Russian seaports in 2021 climbed by 1.7% (detalization)
17:34 Fugro secures cable route survey contract for Denmark’s Energy Islands development supporting the transition to renewable energy
17:04 MPC Capital secures new building slots for 5,500 TEU container ships
16:54 Incat Tasmania awarded a contract to build a 76 metre high speed catamaran for South Korea
16:40 Throughput of Taganrog port in 2021 fell by 1% Y-o-Y
16:24 NYK concludes long-term charter agreement for LNG carrier with EDF LNG Shipping
16:04 Ulstein and Sinoocean sign a framework agreement on spare parts and aftermarket services
15:44 DP World launches a single window digital solution for border authorities
15:24 KONGSBERG delivers innovative propulsion technology to VARD for vessel newbuilds
15:04 Knutsen and NYK establish new company for liquified CO2 Transportation and storage
14:35 NYK orders four LNG-fueled Capesize bulk carriers
14:14 GTT receives two orders for the tank design of new LNG carriers
13:37 Throughput of port Kavkaz in 2021 fell by 19% Y-o-Y
13:14 Unifeeder starts using carbon neutral towage services to boost decarbonization
12:50 Throughput of Kaliningrad port in 2021 rose by 2% Y-o-Y
12:25 Throughput of port Vyborg in 2021 rose by 60% Y-o-Y
12:01 Chinese refinery throughput falls in December
11:36 Port of Boston welcomes its biggest container ship ever
11:19 Fluxys launches 4 additional proposals for hydrogen and CO2 infrastructure in Belgium
10:28 Throughput of port Primorsk in 2021 rose by 7% Y-o-Y
10:03 The Nippon Foundation and Shin Nihonkai Ferry complete a demonstration test of the world’s first fully autonomous ship navigation systems on a large car ferry
10:02 MABUX: Bunker price may continue upward trend on Jan 18
09:49 Container throughput of Hong Kong port (China) in 2021 fell by 1.1%
09:31 Baltic Dry Index as of January 17
09:13 Brent futures exceeded $87 a barrel for the first time since October 2014

2022 January 17

19:02 Thyssenkrupp plans to spin off electrolyser business
18:16 Konecranes delivers three more Rail-Mounted Gantry cranes to Port of Virginia
18:00 Gazprom experts join editorial advisory board of PortNews’ magazine Hydrotechnika
17:46 ICTSI Subic welcomes Wan Hai’s consolidated service
17:33 Average spot market price for Russian M100 product rose to RUB 26,989 pmt
17:26 ICS and IRENA sign a Partnership Agreement to support the decarbonisation of the shipping sector
17:14 Concordia Maritime sells P-MAX vessel
16:51 Passenger Terminal Amsterdam expands business by adding river cruise under the new name Cruise Port Amsterdam
16:31 Ballastwater Equipment Manufacturers’ Association recognized by the IMO
16:04 Maersk Tankers to launch decarbonisation hub
16:04 ABP to construct a new ro-ro facility at the Port of Immingham
15:39 Throughput of port Vysotsk in 2021 fell by 9% Y-o-Y
15:14 The PAV and the València City Council collaborate in the installation of a pilot device for generating electricity from waves
14:57 Port of Ust-Luga throughput in 2021 rose by 7% Y-o-Y
14:40 BPA selects the Dongwon New Port Container Terminal Consortiaum to operate the Busan New Port’s West Container Terminal
14:13 TotalEnergies, Green Investment Group and RIDG secure ScotWind leasing rights to develop a 2 GW windfarm in Scotland
14:00 Throughput of Port St. Petersburg climbed by 4% in 2021