• 2019 December 16 10:27

    MABUX: Bunker market this morning, Dec 16

    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 December 13.

    380 HSFO: USD/MT – 359.26 (+6.55)
    180 HSFO: USD/MT – 400.38 (+6.15)
    MGO: USD/MT – 672.15 (+5.40)


    Meantime, world oil indexes increased on Dec.13 amid progress in resolving the U.S.-China trade dispute and a decisive general election result in Britain.

    Brent for February settlement increased by $1.02 to $65.22 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for January rose by 0.89 to $60.07 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $5.15 to WTI. Gasoil for January delivery added $8.25.

    Today morning oil indexes continue to turned into the downward direction as the market searched for clarity beyond the initial impact of a trade deal between the United States and China that's expected to boost flows between the top two global economies

    Washington and Beijing announced a “Phase one” agreement that reduces some U.S. tariffs in exchange for increased Chinese purchases of American farm goods. The agreement averted additional tariffs on Chinese goods totaling $160 billion that the United States was set to impose over the weekend, but investors remained cautious as they awaited precise details of how the trade deal would work.

    U.S. Trade Representative Robert Lighthizer told on Dec. 13, that China has agreed to buy $32 billion of additional U.S. farm products over two years as part of a phase one trade pact. He said that the deal is "totally done" despite the need for translation and revisions to its text. He also added, it would be signed the first week of January. Chinese officials, however, offered no specifics on the amount of U.S. agricultural goods Beijing agreed to buy, a sticking point in negotiations to end the 17-month trade war between the world’s two largest economies. At the same time, the market needs some clarity around exactly what the deal entails.

    Britain’s ruling Conservative Party won a large majority in Thursday’s (Dec.12) general election, paving the way for Prime Minister Boris Johnson to remove the country from the European Union. Uncertainty about Brexit had also weighed on oil prices.
    Oil demand growth will likely rebound along with a rebound in global manufacturing.

    Data from China today that showed industrial output and retail sales growth accelerating more than expected in November offered some support for oil prices. However, investors remained cautious as growth in China is expected to slow further next year, with the government likely to set its economic growth target at around 6% in 2020 compared with this year's 6-6.5%.

    Oil indexes are also supported by efforts by the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia to cut production. OPEC+, has agreed to lower supply a further 500,000 barrels per day as of Jan. 1, which could boost oil prices.

    According to energy services firm Baker Hughes Co U.S. energy firms added rigs for the first time in eight weeks even as producers follow through on plans to reduce spending on new drilling. Companies added 4 oil rigs in the week to Dec. 13, bringing the total count to 667.In the same week a year ago, there were 873 active rigs. That keeps the oil rig count on track to fall for the first year since 2016. The decline, however, only totals 218, which is much smaller than 2015’s record 963 rig decline. The oil rig count, an early indicator of future output, has already declined for a record 12 months in a row as independent exploration and production companies cut spending on new drilling as shareholders seek better returns in a low energy price environment.

    We expect bunker prices to rise today: 2-4 USD up for IFO, 6-8 USD up for MGO.




2024 July 27

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2024 July 26

18:00 LiqTech and Danbee Marine enter agreement for marine scrubber water treatment solutions for the South Korean market
17:23 Thecla Bodewes Shipyards successfully launches 7.280dwt vessel ‘Vertom Lisa’ for Vertom Group
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16:23 Taiwanese ports resume bunkering after Typhoon Gaemi-induced suspension
15:41 Chinese ports container volume rises 8.5 % in the first half of a year 2024
15:17 Hanwha Ocean picked as preferred bidder for S. Korean Navy's logistics support ship
14:55 Vietnam's port system able to handle world's largest ships
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14:12 Bunker price trends in the world's four largest hubs, July 22-28 – MABUX
13:30 Total Energies orders LNG bunkering vessels at Hudong Zhonghua
12:52 Philippines rushes to contain oil spill from sunken tanker
12:47 Bangladesh 'jam-packed' with cargo as curfew and internet restrictions continue
12:24 Helmerich & Payne announces agreement to acquire KCA Deutag
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10:51 Associated British Ports announces new Chair
10:18 CMA CGM publishes Q2 2024 financial results

2024 July 25

18:00 Western sanctions and Houthi attacks boost appeal of Russia’s Arctic Sea Route - Bloomberg
17:46 Saudi Arabia imports fuel oil from Kuwait for first time in two years
17:24 Port of Thessaloniki implements the wireless reefer monitoring system
16:59 Hunan Jinhang Shipbuilding launches a 500m3 LNG bunkering pontoon
15:51 Chevron’s Taro Ultra advanced 40 granted LNG Validation status by WinGD
15:16 A Philippine-flagged tanker capsized off the coast of Bataan province, causing a spill
14:44 Cyan Renewables acquires Australian vessel operator MMA Offshore
14:23 Russia ships fuel to Bolivia as it increases Latin American sales - Reuters
13:59 Grimaldi-Minoan consortium acquires 67% of Heraklion Port Authority
13:12 Bumi Armada, Navigator Gas and Bluestreak CO2 announce MoU with Uniper for joint study on export of CO2 emissions from proposed UK carbon capture plant
12:52 ABS releases industry first advisory on ammonia bunkering
11:40 Drydocks World executes conversion and upgrade projects for FPSO and FSO vessels
11:10 EMA and MPA shortlist two consortia to further study viability of ammonia for power generation and bunkering
10:40 AW Shipping inks contract with CSSC Jiangnan Shipyard for the construction of two 93,000 cubic meters very large ammonia carriers
10:09 Corvus Energy Blue Whale ESS awarded RINA Type Approval
09:48 Opulent Maritime selects ADP Clear to digitize its bunkering operations

2024 July 24

18:00 MSC invests in multimodal terminal adjacent to Paris via MEDLOG
17:34 Frontera announces agreement between Puerto Bahia and GASCO to pursue LPG project in Cartagena, Colombia
17:00 Shipping firms respond to Houthi attacks in Red Sea
16:32 China’s shipbuilding output rises by 18.4% in H1 2024
16:04 The EU ETS to run the global tanker fleet more than €2bn by 2030
15:49 Typhoon Gaemi halts bunkering in Taiwanese ports
15:23 Container ship fleet expands by 11%, fastest growth in 15 years - BIMCO
14:55 MPC Container Ships takes delivery of final 5,500 TEU methanol-ready boxship from Korea
13:32 A methanol-powered cargo ship arrived in Estonia for the first time
13:13 Six feared dead and 14 rescued after fishing boat sinks off Falkland Islands
12:40 Wartsila to supply a hybrid-electric propulsion system for an 11,000 dwt Limestone Carrier
12:15 Rijeka Gateway adopts private 5G campus network
11:46 Valenciaport handled 2.7 million containers in H1 2024
11:24 Fincantieri signs order with Carnival Corporation for three mega-cruise ships
10:53 Energean takes FID for the Katlan development project in Israel
10:23 Australia announces three years’ worth offshore acreage for petroleum exploration and CCS
09:58 Valaris DS-17 to drill for the Raia project in Brazil

2024 July 23

18:00 Telemar to provide global safety support services to seven Ignazio Messina container vessels
17:27 KBR’s blue ammonia technology selected for Shell Blue Horizons project in Oman
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16:42 Qatar Navigation and Qatar Steel sign a 5-year agreement to provide stevedore services
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15:23 The Indonesian company Pertamina adds Russian oil grades to its tender lists to buy September crude
14:58 Seatrium secures S$180 mln in repairs and upgrades projects
13:49 HD KSOE partners with UM to foster US ship engineers
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11:25 ADNOC L&S joint venture awards $1.9bln contract to Chinese shipbuilder
10:59 Port of Valencia opens new combined transport terminal
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2024 July 22

18:06 Manzhouli railway port handles 2,327 China-Europe freight train trips in 1st half of 2024
17:36 NORDEN to acquire Norlat Shipping to further grow projects and parcelling activities
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16:47 ABS and the U.S. Coast Guard Research and Development Center to collaborate on maritime technologies