• 2019 March 11 11:23

    MABUX: Bunker market this morning, Mar.11

    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 declined on Mar. 08:

    380 HSFO - USD/MT 419.43 (-2.43)
    180 HSFO - USD/MT 468.14 (-1.22)
    MGO - USD/MT 642.07 (-1.00)

    Meantime, world oil indexes decreased on Mar. 08 after disappointing U.S. job growth revived concerns about a slowing global economy and weaker demand for oil.

    Brent for May settlement decreased by $0.56 to $65.74 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for April delivery declined by $0.59 to $56.07 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of 9.67 to WTI. Gasoil for March delivery fell by $12.00.

    U.S. jobs data for February showed the creation of only about 20,000 jobs versus market expectations for 181,000 new positions. European Central Bank said, that the European economy was in a period of continued weakness. The European and U.S. economic weakness comes as growth in Asia is also slowing.

    At the same time Chinese economic data threw up conflicting statistics. February exports in the world's second-largest economy fell 21% from a year earlier, representing the biggest drop in three years amid a drop of 5.2% in imports. While oil demand in China has so far held up with crude imports staying above 10 million bpd, the slowdown in economic growth is likely to dent fuel consumption and pressure prices.

    To counter OPEC cuts, U.S. oil production is reaching new highs, with output already above 12 million bpd and racing toward the next target of 13 million bpd, according to the U.S. Energy Information Administration.

    Today morning oil indexes are rising as Saudi Arabia oil minister Khalid al-Falih said there will be no OPEC+ output policy change until June.

    Saudi oil minister Khalid al-Falih said on Mar.10 that China and the U.S. would lead healthy global demand for oil this year but that it would be too early to change OPEC+ output policy at the group's next meeting in April. OPEC and its allies will meet in Vienna on April 17-18 and another gathering is scheduled for June 25-26.

    On the supply side, oil has received support this year from output cuts led by the OPEC. Saudi Arabia’s crude oil production in February fell to 10.136 million barrels per day (bpd). That proves that OPEC’s largest producer was cutting more than pledged under the OPEC+ production deal that began in January. Since the start of March, the rally in oil has made little headway, a stark contrast to the gains of more than 20% in WTI and Brent through February that came from hefty production cuts by the OPEC+ alliance of 25 oil producing countries.

    Indexes were also supported by U.S. energy services firm Baker Hughes' latest weekly report showing the number of rigs drilling for new oil production in the United States fell by nine to 834.

    Iran's oil ministry said on Mar.10 that it had been receiving revenues from selling oil despite difficulties caused by U.S. sanctions, denying allegations made by former President Mahmoud Ahmadinejad over government mismanagement in the energy sector. The ministry's statement also said it had tried to prevent problems with oil revenues being stolen as happened when the earlier sanctions were in effect. Under the current U.S. sanctions, eight countries - including China, India, South Korea and Japan - have been given temporary exemptions.

    We expect bunker prices to decline today: USD 1-3 down for IFO, USD 8-10 down for MGO.




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