• 2019 March 7 14:41

    MABUX: Bunker market review as of morning March 07

    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) continued irregular changes on Mar. 06

    380 HSFO - USD/MT 421.50 (-0.36)
    180 HSFO - USD/MT 468.50 (-0.07)
    MGO - USD/MT 641.64 (+1.00)

    Oil prices dip as U.S. crude stocks swell amid record production, yesterday

    U.S. crude oil inventories rise amid record output - EIA

    WTI eased on Wednesday, dragged down by record U.S. crude output and rising commercial fuel inventories, meanwhile Brent little change.

    U.S. crude oil stockpiles rose much more than expected last week, with inventories up by 7.1 million barrels to 452.93 million barrels, according to a weekly report by the U.S. Energy Information Administration (EIA) on Wednesday. U.S. crude oil production remained at a record 12.1 million barrels per day (bpd), an increase of more than 2 million bpd since early 2018.

    Surging U.S. production is undermining efforts led by the Organization of the Petroleum Exporting Countries (OPEC) this year to withhold around 1.2 million bpd of supply to tighten markets and prop up prices.

    “The balance between rising U.S. production and the OPEC+ efforts to stabilize prices with a production cut was broken by higher than expected U.S. inventories and the OECD warning of lower global growth impacting energy demand going forward,” said Alfonso Esparza, senior analyst at futures brokerage OANDA.

    Market sentiment today Thursday morning

    Oil edged up on Thursday amid ongoing OPEC-led supply cuts and U.S. sanctions against exporters Venezuela and Iran, but price gains were capped by record U.S. crude output and rising commercial fuel inventories.

    U.S. West Texas Intermediate (WTI) crude oil futures were at $56.31 per barrel at 0637 GMT, up 9 cents, or 0.2 percent, from their last settlement.

    Brent crude futures were at $66.22 per barrel, up 23 cents, or 0.4 percent.

    Prices are being supported by efforts led by the Organization of the Petroleum Exporting Countries (OPEC) and other countries - a grouping known as ‘OPEC+’ - to withhold around 1.2 million barrels per day (bpd) of oil, a strategy aimed at tightening markets.

    Oil market sentiment has swung from bearish to bullish in the last few days as tailwinds for the commodity strengthen. A string of updates from OPEC and Venezuela, along with a couple of oil price forecasts served to push Brent to the highest since the start of the year, with prospects for the near future also positive.

    OPEC said in its latest monthly oil market report its total production last month had fallen to 30.8 million bpd, down by almost 800,000 bpd, as the cartel seeks to prop up prices once again. That’s down from 31.6 million bpd in December and was in large part driven by Saudi Arabia’s efforts to accelerate the price rise by cutting more. The Kingdom pumped 350,000 bpd less oil in January than in December, at 10.2 million bpd, which was also more than it had agreed to cut.

    Judging by the reaction of prices, with Brent touching US$65 a barrel earlier this week for the first time in more than a month, the “whatever it takes” approach has finally started working.

    Oil Future close 6th March
    Brent: $65.99(+0.13)pbr Front Month May
    WTI: $56.22(-0.34)pbr Front Month April
    MGO: $620(+0.75)/mton Front Month March
    NY Harbor Ulsd: $620.71(-0.06)/mton Front Month April

    Oil Future trading at GMT: 07.54; Brent:+12 cents, WTI:+3 cents

    Expect bunker prices little change. General tendency irregular at present.




2019 May 19

16:51 Hamburg Süd strengthens its product portfolio on the Europe–Central America, Caribbean and South America West Coast trade
15:47 CMA CGM to implement FAK rates for Asia to the Middle East Gulf, Asia to Pakistan / India / Sri Lanka trades
14:12 NYK develops Japan’s first additive for fuel oil compliant with 2020 SOx regulation
13:32 Hapag-Lloyd to restructure its Service Portfolio to/from Caribbean, Central America and SAWC
12:14 CMA CGM announces new FAK rates on Asia - North Europe service
11:06 USCG rescues 3 from sinking sailboat off Hatteras Inlet
10:16 PSA’s BMCT and CITPL hold Hyderabad trade meet

2019 May 18

15:12 CMA CGM launches the Reefer Pharma division for the temperature-controlled transportation of pharmaceutical products
14:51 DNO completes USD 400M bond placement
13:02 AAL delivers from China four RTGs to Port of Felixstowe
12:31 USCG deploys containment, collection system at Mississippi Canyon 20 site
11:07 Kotug Smit performs naming ceremony for tug ‘Buffalo’

2019 May 17

18:22 Maersk launches new CLX service, optimized West Coast Latin America - NE network
17:49 Madrid, Spain to host the International Cruise Summit on 27-28 November 2019
17:14 Krasnoye Sormovo delivers Idel-1, sixth ship of Project RSD59 series ordered by STLC
16:40 MPC Capital AG announces key figures for the 1st quarter 2019
16:16 Vyborg Shipyard launches second serial trawler of Project KMT01 built for Arkhangelsk Trawl Fleet
15:58 Leningrad Region presented layout of multimodal transport and logistics center at Bronka port
15:27 Nord Stream 2 AG submitted third permit application and EIA to DEA
15:04 Klaveness Combination Carriers ASA declares two options for the construction of the seventh and eight CLEANBU combination carrier with Jiangsu New Yangzi Shipbuilding
14:49 Marine Rescue Service takes delivery of Bakhtemir, lead ship in a series of four multifunctional salvage tugs of Project MPSV12
14:20 Net profit of Port Vanino for 1Q’19 calculated under RAS grew by 39.8% to RUB 562.34 million
14:03 Damen and De Beers Marine Namibia formalise new relationship, with Mangalia yard centre stage
13:58 IMO held national maritime transport policy training for Saint Kitts and Nevis
13:35 BC Ferries to implement fuel surcharge of 1.5 per cent on June 1 2019
13:21 Bunker prices started going up at the port of Saint-Petersburg, Russia (graph)
13:09 Grimaldi Group's ro/ro vessel Grande Europa was hit by a fire
12:52 PGNiG Group posts over one billion in net profit for the first quarter of 2019
12:30 Maersk Product Tankers completes sale and leaseback agreement
12:09 DEME Offshore awarded major Hornsea Two contract for foundation and turbine installation
11:43 Taganrog Sea Commercial Port handled 323,000 tonnes 1Q’2019
11:30 LR to support the Italian Shipping Community through RO status
11:09 CMA CGM announces General Rate Restoration from Asia to West Africa
10:48 Northern Fleet ASW Severomorsk completed training in Norwegian sea
10:30 MODEC commissioned MAN Energy Solutions to supply a total of six compressor trains for a new FPSO vessel in the Gulf of Mexico
10:09 Secretary General of IMO to outline future of ocean regulations at Nor-Shipping 2019
09:51 Port of Tallinn Group’s revenue in 1Q’19 amounted to EUR 28.5 million, profit to 11.0 million
09:32 Brent Crude futures price is up 0.33% to $72.86, Light Sweet Crude – up 0.45% to $63.15
09:30 ECSA marks the European Maritime Day 2019
09:16 Baltic Dry Index is flat at 1,032 points
08:25 MABUX: Bunker market this morning, May 17

2019 May 16

18:05 RAS net profit of Russian Railways for 1Q’19 up 1.9 times YoY to RUB 17.7 billion
17:50 BPO shares Baltic experience and discusses market trends at Global Liner Shipping
17:27 BIMCO to publish industry’s first offshore decommissioning contract
16:38 LUKOIL drills record breaking wells at D41 in the Baltic Sea
16:16 USCG, FEMA, Cal OES meet to discuss emergency response in San Francisco
15:34 Throughput of Tuapse Sea Commercial Port in 1Q’2019 grew by 8% YoY to 4.2 million tonnes
15:11 Container Terminal Saint-Petersburg handled 202,300 TEUs in 1Q’2019, up 20% YoY
14:49 IAPH World Ports Conference concludes successfully in Guangzhou
14:17 The AEC welcomes new chair, signs MoU with Arctic Council
13:53 Vladivostok Sea Fishing Port handled 93,800 tonnes of cargo in Jan-Apr’19, up 9.6% Y-o-Y
13:30 Rosmorrechflot: Ambal ferry to enter the Baltijsk-Ust-Luga line till the end of the week
13:05 Shipyard De Hoop delivers cruise vessel ‘Celebrity Flora’ to Celebrity Cruises
12:44 Finland to deposit its instrument of accession to HNS Convention after major countries receiving hazardous substances accept it
12:22 Maiden call of Celebrity Edge at the Port of Southampton marked with traditional plaque & key ceremony
12:00 Şadan Kaptanoğlu elected BIMCO President
11:36 Bunker prices show no considerable changes at the Far East ports of Russia (graph)
11:13 Maunu Visuri appointed as President and CEO of Arctia Ltd
11:01 Long Beach Harbor Commission appoints Director of Finance
10:51 Kitack Lim to outline future of ocean regulations at Nor-Shipping 2019