• 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 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