• 2019 December 30 12:24

    MABUX: Bunker market this morning, Dec 30

    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 upward changes on December 27:

    380 HSFO: USD/MT – 379.60 (+4.05)
    180 HSFO: USD/MT – 416.75 (+4.05)
    MGO: USD/MT – 701.70 (+6.99)


    Meantime, world oil indexes rose slightly on Dec.27.

    Brent for February settlement increased by $0.24 to $68.16 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for February rose by $0.04 to $61.72 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $6.44 to WTI. Gasoil for January delivery increased by $3.00.

    Today morning oil indexes are stable underpinned by optimism over an expected U.S-China trade deal, while traders kept a close eye on the Middle East following a U.S. air strike.

    In the Middle East, the United States carried out air strikes on Dec.29 in Iraq and Syria against the Kataib Hezbollah militia group, while protesters in Iraq on Dec.28 forced the closure of its southern Nassiriya oilfield. U.S. officials said the air strikes in response to the killing of a U.S. civilian contractor in a rocket attack on an Iraqi military base were successful, but warned that "additional actions" may still be taken.

    On Dec.29, China's Commerce Ministry said it is in close touch with the United States on the signing of a long-awaited trade deal. The two countries on Dec. 13 announced a "Phase one" agreement that reduces some U.S. tariffs in exchange for what U.S. officials said would be a big jump in Chinese purchases of American farm products and other goods.

    Iraq's oil ministry said the production halt at the Nassiriya oilfield will not affect the country's exports as it will use additional output from southern oilfields in Basra. Elsewhere, Libyan state oil firm NOC said it is considering the closure of its western Zawiya port and evacuating staff from the refinery located there due to clashes nearby.

    At the same time, oil prices edged higher after the Energy Information Administration reported an inventory draw of 5.5 million barrels for the week to December 20 in its last weekly petroleum status report for 2019. At 441.4 million barrels, inventories were some 2 percent above the seasonal average.

    Oil indexes were also boosted by moves by the Organisation of the Petroleum Exporting Countries and other producers, including Russia, to curb production. OPEC+ this month decided to prolong its oil output restriction deal until the end of March and to deepen the cuts in order to balance out the oil market. Russian Energy Minister Alexander Novak said on Friday OPEC+, may consider wrapping up their oil output reduction in 2020.

    According to Baker Hughes The final US oil rig count for the year decreased last week by 8. The number of oil rigs have declined by 207 this year alone, but production has grown from 11.7 million bpd at the beginning of the year to 12.8 million bpd, for week ending Dec 20—just 100,000 bpd off the all-time high from a few weeks ago.

    The spread between delivered marine fuel 0.5% and delivered 380 CST high sulfur bunker fuel in Singapore has widened to a new record high of $420/mt, with less than one week to go before IMO 2020 begins. Steady demand and tight prompt delivery boosted MF 0.5% bunker differentials over the last couple of weeks. In contrast, buying activity has rapidly declined for 380 CST high sulfur bunker fuel since November, ahead of the International Maritime Organization’s 0.5% sulfur mandate, which starts January 1.

    Following the trend in Singapore, the price spread between delivered MF 0.5% and HSFO also hit new record highs across major ports in North Asia, following stronger demand for low sulfur fuel oil and shrinking appetite for HSFO.

    We expect bunker prices will demonstrate little changes today: within plus/minus 1-3 USD.

    We wish Happy New Year to all of our readers and subscribers! May the next year to bring you a lot of joy and happiness!




2024 March 29

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
14:55 China’s Jinzhao wins Peru $405m port construction contract
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
10:23 Documentation delays push industry costs to $3bn
09:48 PONANT and FARWIND Energy partner to develop green hydrogen refueling solutions

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
11:24 Consolidated shipping lines EBIT loss was $1.44 billion in Q4 2023: Sea-Intelligence
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
13:12 Final sanctioned tanker with Russian Sokol oil to reach China port - Reuters
12:42 Adani Ports acquires 95% of Odisha's Gopalpur Port from SP Group for $162 million
12:21 IHI and Yara Clean Ammonia agree to jointly assess clean ammonia business collaboration
11:41 Yara Clean Ammonia and Azane granted safety permit to build world's first low emission ammonia bunkering terminal
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
10:21 Eni, Fincantieri and RINA establish partnership for maritime transport decarbonization

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
17:07 Greek merchant fleet recorded slight decline in January 2024
16:47 Hanwha Ocean Plans to develop green technology and naval ships
16:25 U-Ming Singapore and ITOCHU sign milestone MoU for the joint development of ammonia dual-fuel and de-carbonized vessels
15:34 Svitzer targets methanol-fuelled MAN 175DF-M engine for tug application
15:04 Wallenius Wilhelmsen signs contracts for four 9,300 CEU vessels with China Merchants Jinling Shipyard
14:40 Taiwan International Port to upgrade terminal facility at Kaohsiung
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”
10:24 Hapag-Lloyd to continue to avoid the Red Sea route
09:58 QatarEnergy enters time charter agreements with Nakilat for the operation of 25 LNG vessels

2024 March 24

16:18 Inchgreen Marine Park upgraded as part of £11m investment
15:14 A ribbon-cutting ceremony for Solent Rail Terminal Rail was held at the Port of Southampton