• 2020 May 28 08:54

    MABUX: Bunker market this morning, May 28

    MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO (Gasoil) in the main world hubs demonstrated slight irregular changes on May 27:

    380 HSFO: USD/MT 260.42 (-1.53)
    VLSFO: USD/MT 300.00 (0.00)
    MGO: USD/MT 372.44 (+2.13)

    Meantime, world oil indexes demonstrated downward changes on May, 27 as growing tensions between the U.S. and China raised concerns over energy demand.

    Brent for July settlement decreased by $1.43 to $34.74 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for July fell by $1.54 to $32.81 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $1.93 to WTI. Gasoil for June delivery lost $10.25.

    Today morning oil indexes continue to decrease after U.S. crude, gasoline and heating oil inventories all rose more than expected, dousing hopes of a smooth recovery in demand from coronavirus lockdowns.

    Oil prices also came under pressure after a Supreme Court judge in Canada ruled against Meng Wanzhou, the chief financial officer of China’s tech giant Huawei who is fighting extradition to the United States for alleged violation of U.S. sanctions against Iran. Meng’s extradition could worsen already strained ties between Beijing and Washington.

    At the same time, the U.S. is considering a range of sanctions to punish China for its crackdown on Hong Kong, including controls on transactions and freezing assets of Chinese officials and businesses. Additionally, the U.S. certified on May,27 that Hong Kong is no longer politically autonomous from China. The deteriorating relationship between the world’s two largest economies could complicate the market’s comeback from a historic demand crash.

    The American Petroleum Institute reported that U.S. crude stockpiles rose 8.73 million barrels last week. Gasoline supplies also gained 1.12 million barrels, according to the report. If confirmed by government data today, the crude build would reverse two weeks of inventory declines - an indication that record supply cuts are not draining a massive supply glut fast enough. While oil has rallied about 70% this month, the market’s recovery from an historic crash remains fragile, with higher prices likely prompting producers to turn the taps back on even as the pandemic continues to quash energy demand. The API report also showed supplies at the key storage hub of Cushing, Oklahoma, fell by 3.37 million barrels, which would be the third consecutive weekly decline.

    OPEC+’s deal to cut global output by almost 10 million barrels a day starting in May has helped to lift prices from April lows. Russian President Vladimir Putin and Saudi Arabia’s Mohammed bin Salman on May, 27 reiterated their cooperation on the agreement ahead of a June 9-10 meeting. At the same time there is some skepticism about the tightness of Russia's relationship with Saudi Arabia. As OPEC prepares for its June meeting, due to take place in less than two weeks, some investors said that Russia was sending mixed signals even after the country announced that it had almost reached its cut target earlier in the week.

    We expect bunker prices may decline today: 5-8 USD down for IFO, 7-10 USD down for MGO.




2024 March 18

18:13 Brunvoll propulsion chosen for ESVAGT's growing fleet of SOVs
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17:37 Cemre Marin Endustri shipyard holds launching ceremony for CMAL's MV Isle of Islay
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17:02 APL updates on European Union’s Import Control System 2
16:03 MED Marine contracted to build MED-A2575 series tug for SVS Maritime
15:31 Hanwha Ocean and BV join hands to develop a 270K LNG carrier
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14:18 Port of Skagen and Stillstrom partner to decarbonise anchorage zone with offshore charging solutions
13:22 Sanmar delivers 6th battery electric power tugboat to Norwegian operator
13:16 COSCO SHIPPING Lines announces the launch of OCEAN Alliance DAY 8 product this year
12:21 Dutch offshore wind farm approved by LR
11:39 ClassNK awards first-ever notation for improvements in living and working environment to Fuyo Kaiun's bulk carrier "ELETTRA"
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2024 March 17

16:31 Norwegian Shipowners' Association names Harald Fotland as its President
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13:03 US sanctions shipping company, targeting Iran and Houthi rebels
11:01 The first hybrid electric vessel built in South America will use a Corvus battery system
09:47 Kalmar and Forterra sign JDA for autonomous terminal tractor

2024 March 16

16:24 The Netherlands selects Naval Group for its submarine replacement program
15:41 Equinor exercises options to extend four-year drilling contracts
14:17 GONDAN Shipbuilders hosts launching ceremony for Edda Wind's CSOV C503
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12:13 Snam wins "A" raing in CDP's Suppliers Engagement Rating for efforts against climate change
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2024 March 15

18:07 DNV gives nod to Friede & Goldman BargeRack solution
18:02 New partnership enables faster offshore wind installations in the U.S.
17:53 First production line at ‘World’s Largest Monopile Factory’ to go live in July
17:21 Brunvoll DP2 upgrades for more Mokster vessels
16:55 CMA CGM to suspend its calls at Port au Prince, Haiti
16:03 GEFO's LNG DF chemical tanker Tosca gets Green Award
15:19 CEVA Logistics develops new vehicle logistics business at the Port of Dunkirk
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13:07 To develop the Far East it makes sense to build a new shipyard in the country’s eastern regions, President Putin said
12:48 World’s first use of ammonia as a marine fuel in a dual-fuelled ammonia-powered vessel in the Port of Singapore
11:39 COSCO Shipping calls Port of Genoa, Italy with 20,000 TEU vessels on regular basis
10:03 DMC contracted to supply rudder systems for the world’s largest PCTCs

2024 March 14

18:04 Shearwater awarded seismic survey for UK carbon capture and storage project
17:15 UAE, world leaders discuss maritime corridor for aid to Gaza
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15:43 World Shipping Council selects NCB for liner shipping Cargo Safety Program
15:00 ZIM reports results for 2023
14:57 DP World announces 2023 results
14:29 HaiSea unveils new operations facility for the world’s greenest tugboat fleet
13:44 DEME awards KENC with engineering and fabrication scope on multiple offshore wind installation projects
13:25 MABUX: Bunker Outlook, Week 11, 2024
12:43 Wartsila Lifecycle Agreement to support optimised low-emission operations for two P&O Ferries vessels
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10:51 NYK and Astomos Energy christen new dual-fuel LPG carrier
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2024 March 13

18:02 Lebanese, French officials float a plan to rebuild Beirut port nearly 4 years after huge explosion
17:23 Ascenz Marorka obtains type approval for cyber-security from Bureau Veritas for its digital solutions
16:58 USDOT announces $500 mln for ports available through the Port Infrastructure Development Program
15:44 RINA wins contract to create global investment plan for cruise sector
15:23 Hede International Shipping enters the Transpacific container trade
14:43 Concordia Damen wins contract to deliver a CDS2410 River Pusher to Transporte Fluviales Frey Bentos
14:13 CMA CGM Group launches its first loyalty program SEA REWARD
13:13 Cargill posts results of the six-month test period of the world’s first wind-powered ocean vessel
12:24 Rotterdam's Gate Terminal sees need for more LNG bunkering capacity at Rotterdam
11:58 MOL announces delivery of LNG-fueled car carrier CERULEAN ACE
11:24 Panama Canal announces increase in daily slots at Panamax locks
10:25 thyssenkrupp Veerhaven plans the climate-friendly pusher tug

2024 March 12

18:04 Cosco Shipping installs Iridium Global Maritime Distress and Safety System on PCTC Cosco Tengfei
17:30 LR issues Project Certificate for CrossWind Hollandse Kust Noord wind farm
17:16 The shipping industry to need €3.7 trillion by 2050 to move towards a zero-pollution era
16:25 China Classification Society and MAN ES sign dual-fuel methanol engine agreement