• 2020 May 25 09:00

    MABUX: Bunker market this morning, May 25

    MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO (Gasoil) in the main world hubs) declined slightly on May 22:

    380 HSFO: USD/MT 254.50 (-1.70)
    VLSFO: USD/MT 295.00 (-6.00)
    MGO: USD/MT 362.90 (-6.35)


    Meantime, world oil indexes fell on May 22 as tensions rose between the United States and China, and doubts grew about the pace of demand recovery from the coronavirus crisis.

    Brent for July settlement decreased by $0.93 to $35.13 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for July delivery fell by $0.67 to $33.25 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $1.88 to WTI. Gasoil for June delivery lost $8.75.

    Today morning global oil indexes have turned into slight upward evolution.

    China said that it plans to impose a new national security law for Hong Kong, which drew a reaction from U.S. President Donald Trump. President Trump said on May 21 that if China were to impose a new security law in the former British colony, the United States would address that issue very strongly.

    China also said it has not set a specific target for economic growth this year because country will face some factors that are difficult to predict in its development due to the great uncertainty regarding the COVID-19 pandemic and the world economic and trade environment. Although the government failed to set the 2020 target, it pledged to issue CNY 1 trillion ($140.67 billion) of special treasury bonds to support regions hard hit by the virus. China’s abandonment of the growth target could be interpreted as putting less focus on infrastructure investment and could be viewed as negative for global fuel market.

    In response to the industry downturn, national oil companies (NOCs) are set to slash their exploration budgets by 26 percent on average this year. Besides, although NOCs are axing exploration budgets in the near term, the measure is likely to be just a short-term move because exploration is an important part of NOCs business for the longer term, much more so than exploration is for the supermajors. NOCs invested on average 17 percent of their upstream budgets in exploration between 2015 and 2019, while the international oil majors spent an average 8 percent of upstream budgets on exploration in that period.

    At total of 318 US oil and natural gas drilling rigs were in operation on 22 May – the lowest level in the rig count data series that began back in 1987. The number of oil rigs decreased for the week by 21 rigs, bringing the total to 237—a 560-rig loss year over year. The US Energy Information Administration said that since 17 March, 71% (308 rigs) of the rigs taken out of service were in the top three US crude-producing regions: the Permian region in southeastern New Mexico and western Texas, the Eagle Ford region in southern Texas, and the Bakken region in Montana and North Dakota. The EIA noted that the current drop in rig count followed the recent decrease in the oil price much more rapidly than in the past. As per EIA, the quick reduction in active rigs reflects the sudden loss of petroleum demand related to coronavirus-related mitigation efforts that also resulted in recent increases in the amount of crude oil placed in storage.

    The Argentine government fixed domestic oil prices at $45 per barrel in an attempt to prevent a collapse of its oil industry. The price would be voided if Brent moves above $45 for 10 days. The policy will last until the end of 2020, but there are questions about its efficiency.

    The forces of the Government of National Accord (GNA) have overrun an air base near Tripoli, beating back the Libyan National Army. The move is a setback to the warlord Khalifa Haftar, and it could theoretically lead to the restart of some shuttered oil fields. However, the LNA still controls the main ports of the country. Libya is only exporting 90,000 bpd, down from 1.2 million bpd last year.

    Venezuela’s military will escort Iranian tankers bringing fuel to the gasoline-starved country as soon as they enter its exclusive economic zone. Comments came after Venezuelan opposition leader Juan Guaido said the shipment should “alarm” Latin America. Both OPEC members are U.S. adversaries whose oil industries are under U.S. sanctions. Trump administration officials say Washington is considering a response to the shipment. Five tankers are carrying around 1.5 million barrels of fuel, and passed the Suez Canal in the first two weeks of May. They are expected to arrive in Venezuela between late May and early June.

    We expect global bunker prices may slightly decline today in a range of minus 2-8 USD.




2020 July 14

10:50 Polish Ministry of Climate signs letter of intent on cooperation in the development of offshore wind energy
10:32 USCG investigates uninspected passenger vessel allision
10:07 Gdynia to be the installation port of Polish wind farms on the Baltic Sea
09:42 More information needed on the impacts of emissions trading in maritime transport
09:26 Oil prices decrease amid demand concerns
09:21 MABUX: Bunker market this morning, July 14
09:08 Baltic Dry Index as of July 13

2020 July 13

18:24 Canada joins Global Ocean Alliance
18:00 Interim report and independent audit of KS1437 Multipass Port project approved by related authority
16:59 Port of Ventspils (Latvia) handled 6.8 million tonnes of cargo in 6M’2020
15:32 Oboronlogistics ensures Northern delivery
15:04 Ørsted and Van Oord have successfully installed all array cables of the Borssele I & II offshore wind farm
14:21 Dublin Port throughput declines by 10.9% in the six months to June
13:53 FSUE Rosmorport’s revenue in HI’2020 grew by 6% YoY
13:30 Average wholesale prices for М-100 HFO grew to RUB 10,425 in RF spot market
13:04 CMA CGM announces FAK rates from Asia to the Mediterranean
12:41 CMA CGM announces FAK rates from Asia to North Europe
12:19 Tallinks’s vessel Romantika to offer two direct sailings from Riga to Helsinki this July and August
12:18 ISO releases environmental report assurance standard
11:55 NOVATEK reports preliminary operating data for the second quarter and first half 2020
11:32 KN increases the volume of biofuel handling
11:02 XELLZ acquires additional 100.000sqm to develop a Free Zone at Rosslare Europort
10:14 Gibdock completes an extensive two-vessel drydocking and maintenance project for returning customer Shearwater GeoServices
10:13 Port of Helsinki throughput in 6M’2019 fell by 9.2% to 6.6 million tonnes
09:58 The Fjords takes delivery of second all-electric passenger ship
09:49 Oil prices continue going down
09:32 RF Government to allocate RUB 320 million as support of shipping companies
09:10 Baltic Dry Index as of July 10
09:05 MABUX: Bunker market this morning, July 13

2020 July 12

16:21 Carnival Corp announces change in leadership team
15:38 UMS Skeldar gets contract to supply mine countermeasures drones system
15:23 Samson introduces the latest in mooring line innovation
14:19 Coast Guard halts 2 illegal charters near Star Island
13:41 Carnival Corporation's AIDA Cruises to restart sailing vacations in August
13:18 New OCIMF Committee structure
12:51 American P&I Club and ABS Consulting join forces to drive cyber awareness for maritime insurance
11:49 Royal Caribbean Group acquires remaining interest in Silversea

2020 July 11

15:28 Cox Powertrain celebrates as first 300hp diesel outboards roll off the production line ready for delivery
14:51 WCI names Tracy R. Zea as President & CEO
13:45 NOS expands its fleet with two additional M-Class vessels
11:37 Huisman to deliver 250mt Knuckle Boom Crane and 500mt Towing Winch for Nanhai Rescue Bureau
10:52 Wabtec wins federal order for advanced marine engines on new multi-use ships

2020 July 10

19:08 CMA CGM announces FAK rates from Asia to the Mediterranean
18:30 CMA CGM announces FAK rates from Asia to North Europe
18:04 HHLA implements machine learning for the first time to increase productivity
18:01 Port of HaminaKotka throughput in 6M’2020 fell by 14.2% YoY
17:38 Information on the seaport of Murmansk changed in the Register of Russian Seaports
17:13 Thun Tankers takes delivery of the fifth L-class at China Merchants Jinling Shipyard
16:52 Russian Railways: Loading of export cargo bound for domestic ports up 3.3%
16:33 Valenciaport reaffirms its leadership as the first Spanish port at UNCTAD index
16:03 Port of Marseille to maintain €57 million in investments to stimulate the recovery
15:43 DNV GL launch support for new Dynamic Positioning system failure guideline enabling quicker and cost effective implementation
15:30 Volga Shipping Company delivered project cargo to the Caspian Sea
15:13 COVID-19 causes problems for implementing EU legislation - BIMCO
14:48 Throughput of Russian seaports in HI’2020 grew by 0.1% Y-o-Y
14:23 Wärtsilä simulator complex delivered to enhance operations at the Training and Education Office of the Indonesian National Police
14:03 Port of Oakland imports up 1.9 percent in June 2020
13:44 Onezhsky Shipyard delivers hybrid workboats Anatoly Klimov and Victor Vorotylo (video)
13:22 Governments of 12 countries pledge action for seafarers at crucial crew change summit
13:19 GTT receives an order from Hudong-Zhonghua Shipbuilding for the tank design of three new LNG carriers