• 2019 March 22 10:49

    MABUX: Bunker market this morning, Mar.22

    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) rose slightly on Mar.21:

    380 HSFO - USD/MT - 421.93(+2.43)
    180 HSFO - USD/MT - 470.14(+2.64)
    MGO - USD/MT - 638.93(+1.00)

    Meantime, world oil indexes traded fell on Mar.21, but still held near 2019 highs.

    Brent for May settlement fell by $0.64 to $67.86 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for May delivery slid by $0.25 to $59.98 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of7.88 to WTI. Gasoil for April delivery lost $8.25.

    Today morning oil indexes were stable.

    As per UAE, OPEC and its non-OPEC allies could sign in June a pact to make their oil market-managing policies formal. The charter is ready and has been sent to different countries to look at it, however, questions remain regarding when and where it could be signed and who would actually be signing it. Russia, however, signaled at the end of 2018 that formalizing the alliance may not be such a good idea due to the additional bureaucracy and to the risk of falling prey to a proposed U.S. legislation that could open the cartel and allies to antitrust lawsuits.

    India is selling fuels to Venezuela from India and Europe to sidestep sanctions that bar U.S.-based companies from dealing with state-run PDVSA. It had been supplying alkylate, diluent, naphtha and other fuel to Venezuela through U.S.-based subsidiary before Washington in late January imposed sanctions aimed at curbing the OPEC member’s oil exports and ousting President Nicolas Maduro. At least three vessels chartered by the Indian conglomerate supplied refined products to Venezuela in recent weeks, and another vessel carrying gasoil is expected to set sail to the South American nation as well.

    In the end of last year it was reported that Iranian tankers were turning off their transponders to hide the destination of their journeys. At the time, most tanker tracking data came precisely from transponders and port authorities, which made most Iranian tanker movement reports unreliable. This, in turn, contributed to the October-December oil price drop when it emerged that Iran was shipping more crude abroad than previously believed. As a new step in economic sanctions against Iran, the United States is now targeting vessels transporting Iranian crude oil in violation of sanctions. The U.S. also warned that everyone involved in the transport and ship-to-ship transfer of Iranian oil in defiance of sanctions will be held accountable by Washington.

    The market found some support in bullish U.S. employment figures. The number of Americans filing applications for unemployment benefits fell more than expected last week, pointing to still strong labor market conditions, though the pace of job growth has slowed after last year’s robust gains.

    U.S. crude oil production, particularly in the Gulf Coast region, is still increasing. However, since most of the oil produced in the U.S. is light sweet crude, the U.S. still has to rely on heavier crude blends from Saudi Arabia, Venezuela and others since most American refineries are configured to process heavy crude. At the same time, a surplus of light sweet crude allows the U.S. to export more oil as well. U.S. crude production returned to its record of 12.1 million bpd last week, making America the world’s biggest producer.

    The restart of Libya’s largest oil field, the Sharara, has helped boost the country’s output. Production was around 900,000 barrels a day three weeks ago but now production is in the range of 1.2 million barrels a day.

    We expect bunker prices may demonstrate slight downward trend today in the range of minus 4-7 USD/MT.




2019 July 23

19:02 Diana Shipping announces continuation of time charter contract for m/v Myrto with Cargill
18:04 Port of Southampton welcomes growing numbers of 'green' vessels
17:43 ASCO ships continue to work on Absheron gas condensate field
17:13 HII successfully completes builder’s trials for LHA 7
17:09 Arrival of bridges for Theemswegtracé, Port of Rotterdam
16:51 Nakhodka Trade Sea Port invests RUB 1 billion in construction of water treatment facilities
16:30 Bunker prices go up at the Far East ports of Russia (graph)
16:29 SGRE conditionally awarded largest U.S. offshore wind power order to date: 1.7 GW from Ørsted and Eversource
16:06 Zvezda to save RUB 200 million with its innovating welding technology
15:35 SUR recommends seafarers avoid employment on ships bound for Middle East
15:14 Siemens Gamesa will supply the SG 4.5-145 for its first nearshore project in Vietnam
14:07 Marine Recruiting Agency took part in event dedicated to compliance with labour legislation
13:43 LUKOIL produces over 15 million tons of oil at Vladimir Filanovsky field
13:20 ACO Marine completes the installation and commissioning of a Clarimar MF-10 wastewater treatment plant
12:56 Ferry Tõll reconstruction into hybrid ship
12:24 Muscat, Oman to host 2nd Gas & LNG Middle East Summit on 2-3 December 2019
12:00 Hapag-Lloyd announces rates from Indian Subcontinent & Pakistan to North Europe
11:58 GTT receives two new orders from Hyundai Heavy Industries and Hyundai Samho Heavy Industries
11:40 Barcelona to host European LNG Infrastructure Development Summit on 21-21 October 2019
11:22 Rotterdam to host 4th International Green & Smart Shipping Summit on 8-9 October 2019
10:58 Pella launched lead medium refrigerator trawler SKORPION of project 1701
10:25 RS: follow-up to the conference on the rules for fishing vessels
09:57 AEC at the 8th Symposium on The Impacts of an Ice-Diminishing Arctic on Naval and Maritime Operations
09:34 Baltic Dry Index is up to 2,191 points
09:33 MABUX: Bunker market this morning, July 23
09:19 Brent Crude futures price is up 0.17% to $63.37, Light Sweet Crude – up 0.11% to $56.28
08:01 Nexans qualifies high voltage cable to world record water depth to create power connection across a Norwegian Fjord

2019 July 22

18:06 Dorset’s Intermarine UK lands steel fabrication deal to increase capacity at Portland Port
17:58 Port of Zeebrugge volumes grow by 12.5 % in first semester of 2019
17:48 MS VASCO DA GAMA welcomed at Ostseekai for maiden call
17:19 Port of Kiel welcomed cruise ship “Marella Explorer”
16:55 ‘A British first’ cruise call for Port of Southampton
16:29 Damen to prepare Stad Amsterdam for ‘green ambassador’ role
15:47 Akademik Pashin tanker arrived at the port of Murmansk
15:14 Container throughput of port Hong Kong (China) down 8.1% to 9.06 million TEUs in Jan-June’2019
14:51 Port of Singapore throughput in Jan-June’2019 climbed by 0.6% to 315.17 million tonnes
14:28 JAXPORT sets container and auto records through first three quarters of fiscal year 2019
13:53 Throughput of port Helsinki (Finland) in Jan-June’19 fell by 6.1% to 7.14 million tonnes (table)
13:29 Bunker sales at the port of Singapore in Jan-June’2019 fell by 6.5% Y-o-Y to 23.7 million tonnes
12:56 Average wholesale prices for М-100 HFO up to RUB 17,248 in RF spot market
12:32 London to host 19th Vessel Efficiency & Fuel Management Summit on November 27-28
12:10 Turbine assembly begins for the WindFloat Atlantic project
11:55 Hamburg to host ACI’s Digitalisation in Shipping: Europe 2019 on October 9-10
11:24 NOVATEK closes Arctic LNG 2 transaction
11:10 APM Terminals Maasvlakte II increases rail service to major inland logistics hub
11:04 Seadrill secures contract for the West Polaris in Southern Asia
10:30 ASCO ships continue working on Absheron gas condensate field
10:08 Port of Oakland freight hauler testing two more electric big rigs
09:55 International Finance Corporation visited NIBULON’s facilities
09:36 Brent Crude futures price is up 1.63% to $63.48, Light Sweet Crude – up 1.08% to $56.23
09:32 MABUX: Bunker market this morning, July 22
09:19 Baltic Dry Index is up to 2,170 points
09:07 CMA CGM announces FAK rates from Asia to the Middle East Gulf
08:00 SCANEX Group offers video presentation of geoinformation services for maritime industry
07:42 Parkwind and Jan De Nul start works for the 219 MW offshore wind farm off the Belgian coast

2019 July 21

16:31 USCG begins investigation into three tugboats sinking
15:18 Tolent kicks off construction of Triton Knoll’s new base on Grimsby’s Royal Dock
14:48 ONE launches new direct service between South East India, Mediterranean, and North Europe
14:37 Major milestone met on Moray East Offshore Windfarm project
13:04 Odfjell SE sells its ownership share of terminal in Jiangyin, China