• 2019 March 5 11:39

    MABUX: Bunker Market Review as of March 5

    The Bunker Review was contributed by Marine Bunker Exchange

    MABUX World Bunker Index (consists of a range of prices for 380 HSFO, 180 HSFO and MGO (Gasoil) in the main world hubs) demonstrated slight irregular changes on March, 04

    380 HSFO - USD/MT 420.14 (+2.07)
    180 HSFO - USD/MT 466.43 (+1.57)
    MGO         - USD/MT 643.86 (-2.50)


    Oil rises 1 percent yesterday on U.S.-China trade optimism, OPEC+ supply cuts

    Oil prices rose about 1 percent on Monday as the United States and China appeared closer to ending a trade war that has slowed global economic growth while OPEC ally Russia said it would ramp up its crude supply cuts.

    Gains were tempered by a drop in equity indexes, which weakened sentiment on oil markets.

    Washington and Beijing were close to reaching a trade deal that would roll back U.S. tariffs on at least $200 billion worth of Chinese goods as China pledges to make structural economic changes and end retaliatory tariffs, a source briefed on negotiations said on Sunday.

    Russia, the biggest non-member ally of the Organization of the Petroleum Exporting Countries, plans to speed up crude output cuts this month, Energy Minister Alexander Novak said.

    OPEC and its partners, known as OPEC+, expected to extend supply cuts at its June meeting, but much depends on the extent of U.S. sanctions on OPEC members Iran and Venezuela, the sources said. Crude supply from OPEC hit a four-year low in February, a Reuters survey found, as top exporter Saudi Arabia reduced production more than it had agreed to, and as U.S. sanctions on Venezuelan oil took effect. The cuts have helped crude prices rally more than 20 percent so far this year despite surging U.S. production.

    Market this morning Tuesday
    Oil prices fell on Tuesday as China cut its 2019 economic growth target, dimming the outlook for fuel demand, although OPEC-led efforts to cut output still offered some support.

    “Near term ... it is hard to get very bullish on oil prices. The market is still working off the surpluses built in H2 2018, keeping OECD commercial inventories stuck above the five-year average,” said energy analysts at economic research firm TS Lombard.

    Oil demand growth has been flagging along with an economic slowdown, especially in Europe and Asia. China said on Tuesday it was targeting economic growth of 6.0 to 6.5 percent in 2019, down from the 6.6 percent growth reported last year, which was already the lowest in decades. Fuel efficiency is also improving, denting demand growth.

    TRADE TALK HOPES
    Optimism that the United States and China will soon end their bitter trade disputes has offered some support.

    China’s Commerce Minister Zhong Shan said on Tuesday that trade talks with the United States have been difficult but that working teams from both countries are continuing with their negotiations.

    To prop up the market, the Organization of the Petroleum Exporting Countries (OPEC) has led efforts since the start of the year to withhold around 1.2 million barrels per day (bpd) of supply.

    The group was due to decide in April whether to continue withholding supply, but OPEC sources said this week a decision would likely be delayed until June, meaning cuts will continue at least until then.

    Oil Future close 4th March:

    Brent: $65.67(+0.60)pbr front month May
    WTI: $56.59(+0.79)pbr front month April
    MGO: $622.75(+8.25)/mton front month March
    NY Harbor Ulsd: $620.12(+4.09)/mton

    Oil Futures trading at GMT: 07.35; Brent: -27 cents, WTI: -29 cents

    Expect bunker prices to increase, Fuel Oil 4-6 USD/mton, MGO +8 USD/mton and NY Harbor Ulsd +4 USD/mton.




2019 May 24

17:28 Coast Guard issues waterway restrictions on Mississippi, Illinois Rivers
17:11 NOVATEK obtains new licenses on Krasnoyarsk Territory
17:02 CMA CGM launches the Reefer Pharma division for the temperature-controlled transportation of pharmaceutical products
16:50 Throughput of Rostov-on-Don port in 4M’19 fell by 7% Y-o-Y to 5.11 million tonnes
16:28 Teekay Tankers reports 1Q 2019 results
16:17 Acta Marine names its third W2Work offshore vessel Acta Centaurus
15:53 Ambal ferry returns to Baltijsk-Ust-Luga line after scheduled maintenance
15:27 Surveillance camera installed by Freeport of Riga Authority on Krievu Island for coal dust monitoring
14:59 Port of Tallinn got acknowledged as socially responsible company
14:01 Port Houston volume up nine percent year-over-year
13:50 Feodor Shishlakov appointed head of Volgo-Baltic Administration
13:22 PSA, PFR and IFM investors jointly acquire DCT Gdańsk
12:18 ASI Marine develops an alternative safe method for surveying in hazardous high flow areas.
12:00 Lotos shipyard launches Peotr Veliky, cruise ship of Project PV300VD
11:37 New tugboat built by Damen to expand port fleet of Nakhodka TSP
11:16 SeaBird announces update on vessel acquistion and contemplated private placement of new shares
11:06 Jotun creates new standard for predictable, long-term antifouling protection with SeaForce and HydractiveTM technology
11:01 Global Ship Lease announces agreement to acquire three containerships
10:45 Russian ship owners got 29 new seagoing commercial ships with total deadweight of 552,400 tonnes in 2018 - CNIIMF
10:24 Brent Crude futures price is up 1.22% to $68.59, Light Sweet Crude – up 1.23% to $58.62
10:11 NORDEN boosts Middle East activities with new 3-year contract
10:09 Royal IHC names 2,300m³ TSHD LESSE
09:58 Rotterdam sends hyper-smart container on trip around the world
09:47 Bunker prices go down at the port of Saint-Petersburg, Russia (graph)
09:26 ZIM announces changes to MGX Service
09:16 MABUX: Bunker market this morning, May 23
09:15 Baltic Dry Index is up to 1,068 points
08:50 Bunker prices review at global sea ports, Week 21st, 2019

2019 May 23

18:43 DOF Subsea secures contract in Brazil
18:21 ZIM Q1 2019 revenues rose 6.0% to $796.2M
18:06 MOL to Join Consortium on TCFD (Task Force on Climate-related Financial Disclosures)
17:44 CNIIMF forecasts NSR cargo traffic to reach 100 million tonnes by 2035
17:11 USCG closes case of downed aircraft in Prince William Sound
17:06 Port of Rotterdam sees significant progress in development HES Hartel Tank Terminal
16:55 GOGL announced net loss of $ 7.5M vs net income of $ 23.6M in 1Q 2019
16:30 New digital solution from Rolls-Royce and ZF improves availability and CO2 emissions of ships
16:05 CMA CGM orders 50,000 Traxens trackers
15:23 OCTOMAR Serviços Marítimos takes delivery of Damen Fast Crew Supplier 2206
14:47 RF Navy’s destroyer participated in combat training in the Sea of Japan
13:36 High Representative/Vice-President Federica Mogherini visits ITS Carlo Margottini
13:05 Singapore to host Port Maintenance and Facilities Management Summit on 24-27 September 2019
12:29 Optimarin gears up for retrofit wave with expansion and new hires
12:19 FESCO and Russian Railways launch transit service for delivery of goods from Japan to Europe through Russia
11:43 Bunker prices go up at the Far East ports of Russia (graph)
11:21 Severnaya Verf starts cutting metal for third processing trawler of Project 170701 ordered by NOREBO Group
11:08 Diana Shipping announces time charter contract for m/v Baltimore with Koch
10:26 Brent Crude futures price is down 0.69% to $70.5, Light Sweet Crude – down 0.6% to $61.05
10:08 Port of Antwerp aims for more efficient road transport with night-time opening hours on Right bank of Scheldt
09:57 Kuibyshev reservoir level allows for fleet operation - RF Transport Ministry
09:39 NOVATEK signed MoU with Ninh Thuan Province in Vietnam
09:20 Baltic Dry Index is up to 1,059 points
09:10 MABUX: Bunker market this morning, May 23
09:08 Royal IHC signs contract with Cameroon’s Port Authority of Douala
08:25 Sempra LNG and Aramco Services Company sign heads of agreement for Port Arthur LNG

2019 May 22

18:05 CMA CGM to resume the Bijagos Shuttle service
17:50 RF Government approves rules for collecting port investment dues from ship owners in Russian seaports
17:38 The University of Calabria and Finсantieri ink training agreement
17:05 CMA CGM PAD-Service delivers first Zespri kiwifruits to the port of Zeebrugge
16:44 CMA CGM announces GRR from Asia to South Africa
16:05 Jinling Shipyard in China orders 4 × MAN 51/60DF engines for Baltic RoPax newbuilding