• 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 April 22

18:29 President Vladimir Putin to kick off loading of an LNG cargo to Coral Anthelia in Vysotsk, April 24
18:04 Bahri explores maritime opportunities in Africa at Logismed
16:57 Federation Council approves the crab fishing quotas bill
14:45 Newspaper of Sea Port of St. Petersburg receives Best Corporate Edition 2018 Award
14:27 MOL to install AR navigation system on 21 VLCCs
14:26 Spot market price for Russian M100 product ended week lower at an average of RUB 19,431 pmt
13:07 Nobel Bros Shipyard re-launches refurbished pusher OTA-953
13:01 Seadrill Partners LLC receives early termination notice for the West Capricorn contract
12:06 Rosmorport invites to submit proposals for LS marine fuel supply at Sakhalin based Port of Shakhtersk
12:00 BP and partners sanction $6 billion Azeri Central East development offshore Azerbaijan
11:10 Int’l Neva 2019 Expo to present the hall of small crafts building achievements
11:00 Saudi Aramco to acquire Shell’s share of the SASREF refining joint venture
10:26 Crude oil futures soar to $ 73,81 (Brent) and to $ 65,53 (WTI)
10:05 DEME Offshore announces Moray East wind farm Tier One suppliers
09:58 Eni, CDP, Fincantieri and Terna join forces to develop power plants on an industrial scale
08:25 Mitsubishi Shipbuilding holds christening ceremony for next-generation LNG carrier "Diamond Gas Sakura"

2019 April 21

15:38 WheelHouse names Ian Morris as Vice President of Operations
14:34 CMA CGM to implement FAK rates from West Med, Adriatic, Black Sea and East Med to Far East, Middle East Gulf and Red Sea
12:37 USCG offloads 970 pounds of cocaine and 550 pounds of marijuana
11:31 CMA CGM hikes rates on Asia to Kenya, Tanzania service
11:07 Kinder Morgan raises dividend by 25%, announces Q1 2019 results

2019 April 20

16:31 CMA CGM announces FAK rates for Asia - the Middle East Gulf trade
15:02 MOL pledges support for Mozambique in wake of devastating cyclone
14:42 USCG Cutter Waesche crew returns home after 95-day counter-narcotics patrol
13:27 CMA CGM announces FAK rates for Asia to Pakistan / India / Sri Lanka trade
13:12 Carnival Cruise Line, CFVI unveil revitalized Griffith Park in St. Thomas for local children
12:26 BC Ferries celebrates Earth Day with the return of the Spirit of Vancouver Island
11:04 Certification of Arkona offshore wind farm by DNV GL confirms safe and reliable power supply
10:49 Navios Maritime Acquisition Corporation announces $103.2 million sale and leaseback transaction
10:38 Boskalis acquires EUR 75M dredging contracts in Indonesia

2019 April 19

18:07 Keppel posts net profit of S$203M in 1Q 2019
17:28 Passenger Port of Saint-Petersburg to complete Phase 1 of Berth No7 reconstruction in summer 2019
17:04 Saudi Aramco partners with the Saudi Contractors Authority fostering collaboration at ‘Future Projects Forum’
16:57 BAE Systems Jacksonville secures Navy's conntract mod for DDG 117
15:04 Hyundai LNG Shipping announces order for one VLGC at HHI
14:55 Marina for 100 yachts to be built in Feodosia by Firm “TES” LLC
14:10 C-Fenna successfully completes Fugro 1200 jackup towing operations
13:32 ESPO congratulates Port of Huelva for renewing EcoPorts’ environmental management standard
13:07 Spirit of Vancouver Island vessel returns to service after mid-life upgrade including conversion to natural gas
12:44 New High Bay Container Storage system launched as “BOXBAY”
12:10 ABS teams with industry leaders to improve container vessel safety
11:39 Port Arthur LNG receives FERC authorization for export project in Texas
11:08 Dual-fuel AET tankers conduct maiden LNG bunkering
10:43 Largest barge of Azerbaijan Caspian Shipping Company undergone overhaul
10:19 Brent Crude futures price is down 0.04% to $71.95, Light Sweet Crude – up 0.38% to $64
09:56 Bunker prices are sable at the port of Saint-Petersburg, Russia (graph)
09:35 TransContainer’s transportation volumes in Q1’2019 increased by 7.7% Y-o-Y to 492,000 TEUs
09:17 Baltic Dry Index is up to 790 points
07:42 GTT receives an order from DSME for the tank design of a new LNG carrier

2019 April 18

18:36 South Stream Transport B.V. and Saipem announce the amicable settlement of mutual differences
18:06 Seaway 7 selected as partner to develop Hollandse Kust Zuid Offshore Wind Farm
17:36 WinGD reports strong first quarter 2019
17:11 Launching ceremony held for eighth shallow-draft barge of Project ROB20
17:05 SOFEC completes engineering, supply and delivery of mooring system
16:26 Port of Murmansk to welcome eight cruise liners in summer season of 2019
16:05 Cooperation agreement between Eimskip and Royal Arctic line approved by the Icelandic Competition Authority
15:44 Navios Acquisition announces $103.2 million sale and leaseback transaction for three MR2 product tankers and two LR1 product tankers
15:12 Nefteflot laid down two barges of Project RDB12 ordered by STLC
15:10 MOL to acquire strategic stake in six group companies, each owning a Very Large Ethane Carrier
14:40 Port of Rotterdam freight throughput grows by 5.1% in first quarter of 2019