• 2020 January 6 10:18

    MABUX: Bunker market this morning, Jan 06

    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 slightly in the end of the first week 2020:

    380 HSFO: USD/MT – 382.85 (+4.43)
    VLSFO: USD/MT – 660.00 (+6.00)
    MGO: USD/MT – 714.15 (+1.38)


    Meantime, world oil indexes rose on Jan.03 amid escalating tension in the Middle East and supported by U.S. inventory report.

    Brent for March settlement rose by $2.35 to $68.60 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for February gained $1.87 to $63.05 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $5.55 to WTI. Gasoil for January delivery added $10.00.

    Today morning global oil indexes continue firm upward trend.

    Reports that a U.S. air strike killed key Iranian and Iraqi military personnel escalated Middle East tensions and raised concerns of oil supplies disruption. Tensions have been building between Washington and Tehran after an Iran-backed Iraqi militia stormed the American embassy in Baghdad to protest deadly U.S. airstrikes earlier last week. Concerns in the region have persisted over the past year as Saudi Arabia’s energy facilities as well as foreign tankers in and around the Persian Gulf have been the target of several attacks. The area has five of OPEC’s biggest oil producers. Two of them: Iran and Iraq, combined pumped more than 6.7 million barrels a day of oil last month, more than one-fifth of OPEC output. Energy exports from both countries also rely on the Strait of Hormuz, the narrow and crucial oil and natural gas shipping choke-point that’s always in focus when Middle East tensions flair, particularly with Iran.

    The U.S. Energy Information Administration reported a crude oil inventory decline for the last week of 2019. The draw totaled an impressive 11.5 million barrels. Analysts had expected a decline of 3.167 million barrels, after the EIA reported a draw of 5.5 million barrels for the week to December 20. At 429.9 million barrels, U.S. crude oil inventories are at the five-year seasonal average. Meantime, U.S. oil production had hit a record 12.66 million barrels daily in October, with weekly estimates suggesting this could have risen further in the months since October to over 13 million bpd.

    Russia has halted oil supplies to refineries in Belarus amid a contract dispute threatening large Russian oil deliveries to Western Europe. However, ta the moment Russian oil transit to Europe via Belarus was so far uninterrupted.

    Testing companies are examining new low-sulfur marine blends acquired in Antwerp, Belgium; Houston and Singapore and have found sediment at levels that could damage the engines of ocean-going vessels. The potential hazards were demonstrated already in 2018 when some ship operators were forced to pay for costly repairs after buying bunker fuel contaminated by a chemical used in epoxy. That incident affected about 200 vessels. Some 60% of the recipes for making low-sulfur fuel proposed by bunker suppliers near the top U.S. oil port of Houston failed to meet sediment specifications. Last month high sediment levels in bunker fuel samples were also found in Singapore, Antwerp and other European ports. The levels exceeded international residue standards. Mixing two or more low-sulfur bunker fuels can raise the sediment levels, producing a residue that could clog and damage an engine.

    The implementation of low sulfur bunker fuel regulations on January 1 could result in changed market structures for clean and dirty tankers in 2020 as a result of compliance choice, as sources contemplate the possible emergence of multi-tiered pricing, specialized routes, and bunker availability issues. Roughly 17% of the tanker fleet is expected to be installed with scrubbers by the end of 2021 to comply with the International Maritime Association’s 0.5% sulfur bunker fuel specifications, enabling those ships to run lower-cost high sulfur bunker fuel. Meantime, shipowners have already faced delays in finding low sulfur bunkers in Brazil and Panama, with longer voyages and later laycans requiring more forward-looking bunkering schedules. Mexico is unlikely to have low-sulfur bunkers available anytime soon, as the country has not signed onto the IMO mandate and infrastructure at the ports appears limited.

    We expect bunker prices may demonstrate today firm upward movement in a range of plus 8-11 USD.




2024 March 29

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
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