• 2019 March 8 11:37

    MABUX: Bunker market review as of morning, Mar. 08

    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 upward changes on March, 07

    380 HSFO - USD/MT 421.86 (+0.36)
    180 HSFO - USD/MT 466.36 (+0.86)
    MGO          - USD/MT 643.07 (+1.43)


    Oil prices drop as ECB warns on weaker economy, U.S. supply soars

    Oil prices fell on Friday after the European Central Bank (ECB) warned economic weakness would continue and as U.S. crude output and exports chase new records, undermining efforts by producer club OPEC to tighten global markets.

    Financial markets, including crude oil futures, took a hit after ECB President Mario Draghi said on Thursday the economy was in “a period of continued weakness and pervasive uncertainty”. Europe’s economic weakness comes as growth in Asia is also slowing down.

    A slowdown in economic growth would also likely result in stalling fuel demand, putting pressure prices.

    On the supply side, prices have been receiving support this year from output cuts led by the Organization of the Petroleum Exporting Countries (OPEC). Together with some non-affiliated producers like Russia, the producer group has pledged to withhold around 1.2 million barrels per day (bpd) of supply to tighten markets and prop up prices.

    But these efforts are being undermined by soaring U.S. crude oil production C-OUT-T-EIA, which has increased by more than 2 million bpd since early 2018, to an unprecedented 12.1 million bpd. That makes America the world’s biggest producer, ahead of Russia and Saudi Arabia.
    Financial markets, including crude oil futures, took a hit after ECB President Mario Draghi said on Thursday the economy was in “a period of continued weakness and pervasive uncertainty”. Europe’s economic weakness comes as growth in Asia is also slowing down.

    So far oil demand has held up, especially in China where imports of crude remain above 10 million barrels per day (bpd).

    Yet a slowdown in economic growth will at some point likely dent fuel demand, putting pressure prices.

    China’s February dollar-denominated exports fell 21 percent from a year earlier, coming in far worse than analysts’ expectations, while imports dropped 5.2 percent, official data showed on Friday.

    Some analysts even expect the United States to soon overtake Saudi Arabia as the world’s biggest oil exporter.

    Beyond added supply to global markets and likely downward pressure on crude prices, Rystad said this export surge would have huge benefits for the U.S. economy.

    “The U.S. trade deficit will evaporate, and its foreign debt will be paid quickly thanks to the swift rise of American oil and gas net exports,” said Rystad Energy senior partner Per Magnus Nysveen.

    China
    Financial markets, including crude oil futures, took a hit after ECB President Mario Draghi said on Thursday the economy was in “a period of continued weakness and pervasive uncertainty”. Europe’s economic weakness comes as growth in Asia is also slowing down.

    So far oil demand has held up, especially in China where imports of crude remain above 10 million barrels per day (bpd).

    Yet a slowdown in economic growth will at some point likely dent fuel demand, putting pressure prices.

    China’s February dollar-denominated exports fell 21 percent from a year earlier, coming in far worse than analysts’ expectations, while imports dropped 5.2 percent, official data showed on Friday.

    Oil Future close 7th March:
     
    Brent: $66.3(+0.31)pbr FM May
    WTI: $56.66(+0.44)pbr FM April
    MGO: $622.25(+2.25)/mton
    NY Harbor Ulsd: $619.63(-1.08)/mton

    Oil Futures trading at GMT: 07.44; Brent:-76 cents, WTI:-57 cents
    The Market tendency is downward at present.

    Expect bunker prices trading irregularly. Oil Futures closed slightly upward last night and at present the market is falling.




2019 August 24

15:44 Vattenfall inaugurates Scandinavia’s largest offshore wind farm
14:42 Eastern Shipbuilding delivers the CAPT. JIM McALLISTER with a USCG Sub-M COI to McAllister Towing
13:26 Gulf of Mexico Lease Sale yields more than $159m in high bids, continues Upward Trend Under Trump Administration USDoI
11:38 Grieg Star takes delivery Supramax vessel the Star Damon
10:58 DNV GL launches renewables certification operations in U.S.

2019 August 23

18:36 Bridge parts transported for second Theemsweg route bridge
18:06 CMA CGM announces GRR from Asia to East and South Africa, Indian Ocean
17:55 Onezhsky Shipyard launches TSHD Yury Maslyukov
17:36 First CLEANBU wet-dry cargo switch with significant positive environmental impact
17:20 Atomflot and Baltiysky Zavod sign agreement on construction of fourth and fifth nuclear-powered icebreakers of Project 22220
17:05 CMA CGM announces FAK rates from Asia to the Middle East Gulf
16:45 MPI Resolution started blade repair campaign in offshore wind farm
16:35 PIL’s fleet attains Environmental Ship Index (ESI) certification
16:05 Botlek becomes Vopak's styrene hub
15:44 First-of-a-kind floating nuclear power unit Akademik Lomonosov leaves Murmansk for Pevek
15:23 CMA CGM will not use the Northern Sea Route
15:17 Vessel powered by ABB Azipod® propulsion reaches North Pole for the first time in history
15:13 NOVATEK’s Board recommends 1H 2019 dividend
14:47 PGNiG Group posts more than PLN 22.6bn in revenue for H1 2019
14:16 BC Ferries supports whale research at Galiano Island
13:52 Marsden Point, New Zealand tops BIMCO Terminal Vetting Report
13:29 Missile cruiser Marshal Ustinov entered Mediterranean Sea
13:08 Boskalis half year result 2019 tainted by offshore projects
12:34 Sevastopol Sea Port to be subsidized with RUB 54 million by municipal government
12:08 Bibby HydroMap commences second UXO survey for Vattenfall
11:40 Tests of unique replenishment system of Akademik Pashin tanker successfully completed
11:08 DP World Liège Container Terminal boosts eco-efficiency with Konecranes
10:55 Eesti Energia to use Klaipėda LNG terminal services
10:26 Hamburg, Germany to host 15th Arctic Shipping Summit on 4-5 December 2019
10:07 Bridge parts transported for second Theemsweg route bridge
09:53 Brent Crude futures price is up 0.1% to $55.98, Light Sweet Crude – up 0.01% to $55.35
09:34 Bunker market sees mixed price movements at the port of Saint-Petersburg, Russia (graph)
09:19 Baltic Dry Index is up to 2,118 points
09:07 Damen wins UX Design Award for Human Machine Interface for Tugs
08:35 MABUX: Bunker Market this morning August, 23
08:07 World’s largest all-electric ferry completes its maiden trip

2019 August 22

18:04 Australian Maritime College and KONGSBERG eye potential for VR training with renewed support program
17:39 Nordic Engineering sponsors roundtable meeting “Import Substitution in Russian Shipbuilding: Ambition and Reality”
17:04 DOF Subsea issues Financial Report for 2nd quarter of 2019
16:47 Karelia proposed construction of deep-water freight and passenger port Kem’
16:25 Bunker prices go down at the Far East ports of Russia (graph)
16:04 Navios Acquisition reports results for H1 2019
15:53 PJSC TransContainer reports its Financial Results under IFRS for 6M'2019
15:12 ReCAAP ISC has released Guidance on Abduction of Crew in the Sulu-Celebes Seas and Waters off Eastern Sabah
15:04 Essar Ports expects to meet 60 MT target for FY20
14:31 Höegh LNG announces interim results for the quarter and half year ended 30 June 2019
14:14 Peel Ports takes important step towards being Brexit ready
13:56 Yamal LNG shipped twenty million tons
13:35 Arctic block of Far East Investment and Export Agency headed by Dmitry Fishkin
13:13 Sea Machines successfully deploys industry’s first autonomous spill-response vessel
12:28 Fire onboard MV Pyotr Tchaikovsky kills one in Saint-Petersburg
12:13 Frontera Offshore and DOF Subsea join forces for the Subsea Construction and IMR Mexican market
11:31 Kalmar to enhance STS crane capabilities at EUROGATE Tanger
11:21 HELCOM publishes report on noise sensitivity of animals in the Baltic Sea
10:59 HELCOM gets a new Executive Secretary
10:35 Caterpillar Eurasia and Admiral Makarov University agreed on establishing a brand new up-to-date training center
10:10 Steps towards new treaty to protect marine biodiversity
09:38 Brent Crude futures price is down 0.41% to $60.04, Light Sweet Crude – down 0.38% to $55.47
09:20 Hapag-Lloyd announces changes of North Europe Mediterranean Express Service
09:13 Baltic Dry Index is up to 2,061 points