• 2020 June 3 08:45

    MABUX: Bunker market this morning, June 03

    MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO (Gasoil) in the main world hubs continued to increase on June 02:

    380 HSFO: USD/MT 265.74 (+6.18)
    VLSFO: USD/MT 309.00 (+8.00)
    MGO: USD/MT 380.27 (+6.03)


    Meantime, world oil indexes also demonstrated upward changes on June, 02 as OPEC and key ally Russia moved a conference call to discuss future output cuts to Thursday, June 4, from an original June 9 schedule.

    Brent for August settlement increased by $1.25 to $39.57 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for July rose by $1.37 to $36.81 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $2.76 to WTI. Gasoil for June delivery added $20.25.

    Today morning oil indexes continue to rise amid optimism that major producers will extend production cuts as the world recovers from the coronavirus.

    Oil prices have soared over the past six weeks, thanks to record supply cuts by OPEC+. However, prices are still down about 40% for the year so far. These supply cuts are set to be scaled back at the end of June, according to the agreement hammered out in April, but OPEC+ producers are now said to be considering extending their production cuts into July or August, at an online meeting likely on June 4.

    The U.S. Treasury Department on June, 2 had sanctioned four shipping firms for transporting Venezuelan oil, the latest escalation in Washington's effort to oust socialist President Nicolas Maduro by cutting off the OPEC nation's crude exports. Marshall Islands-based Afranav Maritime Ltd, Adamant Maritime Ltd and Sanibel Shiptrade Ltd, as well as Greece-based Seacomber Ltd, all own tankers that lifted Venezuelan oil between February and April of this year. In response, Venezuelan Foreign Minister Jorge Arreaza said in a tweet that Pompeo had a "criminal obsession" with Venezuela and that U.S. moves to inhibit crude exports would complicate food and medicine imports. Washington sanctioned Venezuelan state-run oil company Petroleos de Venezuela last January, shortly after the United States and dozens of other countries declared Maduro a usurper who rigged his 2018 re-election. Tuesday's sanctions come after Washington in February and March sanctioned two units of Russia's Rosneft, which became the main intermediary of Venezuelan crude in 2019. The units stopped lifting Venezuelan crude in March.

    Meanwhile, Venezuela's oil exports plummeted in May to their lowest level since 2003 as U.S. sanctions choked exports and two Mexican firms that had acted as intermediaries for Venezuelan crude sales stopped receiving oil. May exports fell 50% from the average of January through April. PDVSA's schedule for June shows little change from May, with only three crude cargoes assigned to buyers so far and three more waiting for nominations. The measures have reduced exports and deepened the country's economic crisis.

    Early signs of a shale rebound are becoming evident as crude prices emerge from their dramatic collapse earlier this year. EOG Resources Inc., America’s largest shale-focused producer, plans to “accelerate” output in the second half after shutting in about a quarter of its crude in May. Permian producer Parsley Energy  Inc. is also turning wells back on just weeks after closing the taps, and producers in the Bakken formation in North Dakota are also easing the rate of shut-ins.

    The American Petroleum Institute (API) estimated June,02 a small crude oil inventory draw of 483,000 barrels for the last week. It was expected an inventory build of 3.038 million barrels.

    Oil production in the United States has now fallen from 13.1 million bpd on March 13 to 11.4 million bpd for May 22 —a drop of 1.7 million bpd—more than OPEC’s production cut agreement from last year.

    We expect bunker prices may continue to increase today: 6-9 USD up for IFO, 15-20 USD up for MGO.




2020 July 14

18:11 Wärtsilä contracted to deliver a scope of integrated solutions for CDWE's MIV
17:57 More States need to act on crew changes, says IMO Secretary-General
17:33 Throughput of Russian seaports in 6M’2020 climbed by 0.1% (detalization)
17:11 Alewijnse completes electrical installation TSHD Anchorage
16:46 Vladimir Putin signs the package of federal laws on the system of privileges in the Arctic
16:21 Mark Sickles named Interim CEO & Executive Director of DCA
15:55 Reconstruction of hydraulic facility No 9 of Tushinsky District’s HES obtains state expert approval
15:32 Green Yard Group takes over Kleven Verft business
15:04 Engineering and geological survey began for construction of Port Dalny terminal in Khabarovsk Territory
14:39 LISCR hires former USCG LNG expert to boost its global team
14:20 Young Russian sturgeon released to Volga as compensatory measure for dredging on Volga Caspian Canal
13:57 Rosmorport releases young keta salmon as compensatory measure for dredging in Shakhtersk
13:36 Straatman BV built solar-powered mooring systems for Port of Hamburg
13:12 ABB to power the world’s largest diamond recovery vessel for De Beers
12:48 Bunker prices are stable at the Far East ports of Russia (graph)
12:23 COMSAT bolsters Inmarsat network with increased C-band and L-band capabilities
11:55 IMO's informal discussions focus on cutting shipping’s carbon intensity
11:31 G3 Terminal Vancouver opens on Canada’s West Coast and transforms Canada’s grain supply chain
11:13 Further progress towards greener and safer ship recycling in Bangladesh reported at SENSREC meeting
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