• 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 May 24

18:07 Port of Antwerp 1st port of call for reefer service from Peru, Chile, Colombia, Ecuador and Panama
17:49 Hannu Ylärinne appointed COO and Executive Vice President of Arctia Group having retained his position as CEO of Meritaito
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