• 2019 March 25 11:12

    MABUX: Bunker Market this morning, March 25

    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. 22

    380 HSFO - USD/MT 419.21 (-2.72)
    180 HSFO - USD/MT 468.29 (-1.85)
    MGO         - USD/MT 636.93 (-2.00)


    Meantime, world oil indexes demonstrated downward changes on Mar. 22 shifted to a lack of progress in U.S.-China trade talks and fears of a slowdown in the global economy and oil demand.

    Brent for May settlement decreased by $0.83 to $67.03 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for May delivery fell by $0.94 to $59.04 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of 7.99 to WTI. Gasoil for April delivery decreased by $13.00.

    Today oil indexes continue to fall amid concerns of a broadening global economic slowdown which could threaten demand for crude.

    Concerns about a potential U.S. recession resurfaced late last week after  remarks by the U.S. Federal Reserve, with a 10-year treasury rate for the first time since 2007. Market sentiment was further dampened  following the appearance of an inverted yield curve - a powerful tool that suggested a potential recession might be near. The last time the spread between the 3-month Treasury bill and the 10-year note went negative was in 2006, right before the economic downturn that began in the next year.

    Oil prices has risen by more than 20 percent since the beginning of January, due to supply cuts by the Organization of the Petroleum Exporting Countries and allies, such as Russia, and U.S. sanctions on Iran and Venezuela.

    The U.S. dollar climbed against the euro on March,22 to its highest in more than a week. A strong dollar makes oil more expensive for holders of other currencies.

    Market is also waiting for the trade talks between the U.S. and China, as U.S. Treasury Secretary Steven Mnuchin and other members of the Trump administration head to Beijing this week for another round of trade discussions. Trade negotiations with China were progressing and a final agreement “will probably happen,” U.S. President Donald Trump said on March,22.

    A jump of more than 2 million barrels per day in U.S. crude oil production since early 2018 to a record 12.1 million bpd has made the United States the world’s biggest producer, ahead of Russia and Saudi Arabia. This has resulted in increasing exports, which have doubled over the past year to more than 3 million bpd. The International Energy Agency estimated that the United States would become a net crude oil exporter by 2021. U.S. oil rig count data showed an 11-month low -  oil rigs fell by nine this week, their fifth-straight week of declines, to 824, the lowest since April 2018. U.S. oil drilling has continued to slide lately, despite crude prices rising by a third this year.

    We expect bunker prices to demonstrate downward changes today: USD 4-6  down for IFO, USD 8-10  down for MGO.
     




2019 June 24

18:05 Training Montenegro to combat oil spills
17:50 Four cruise ships visit the Port of Riga at the same time
17:27 Finnish Government proposes supplementary appropriation of EUR 40 million for basic infrastructure management
17:05 Austal delivers third guardian class patrol boat to the Australian Department of Defence
16:47 Incat Crowther announces contract to design a 65m catamaran passenger ferry
16:46 Construction and operation of dual-fuel ships has low economic efficiency – USC President
16:45 Maersk Drilling completes sale of jack-up Mærsk Giant
16:24 USC set to build floating electricity-generating facilities running on LNG supplied by bunkering ships
16:03 Van Oord and Mammoet enter into cooperation with scale-up Verton
15:45 United Shipbuilding Corporation to launch the first LNG-powered ferry for Ust-Luga – Baltijsk line in late July
15:30 United Shipbuilding Corporation establishes USC-Propulsion and USC-Interior subdivisions
15:03 MOL signs deal on a long-term charter contract to utilize "MOL FSRU Challenger" for Hong Kong Offshore LNG Terminal Project
14:42 New USC Vice-President, Civil Shipbuilding, to get into office on 10 July 2019
14:21 USC expects its Astrakhan cluster to build 12 river-sea class ships per year
14:03 Yang Ming announces new China-Thailand direct service
13:37 Port of Rotterdam Authority to collaborate with four new companies
13:25 Igor Vasilyev appointed as Acting General Director of FTI Rostransmodernizatsiya
13:02 ARIES gained ABS Certification: Middle East 1 st Remote Inspection Techniques specialist
12:20 BC Ferries releases year-end results
12:10 Keel laid for the first of Damen’s revolutionary new FCS 7011 Crew Change
11:56 Average wholesale prices for М-100 HFO down to RUB 15,377 in RF spot market
11:29 FESCO to launch new container train to China via Far East overland route
10:58 Southern Center of Shipbuilding and Ship Repair acquired property of Krasniye Barrikady plant
10:35 Satti floating drilling unit owned by Kazmortransflot delivered to Azerbaijan
10:13 Throughput of Chinese ports grew by 4.1% to 5.5 billion tonnes in Jan-May’2019
09:53 MABUX: Bunker Market this morning June, 24
09:52 Brent Crude futures price is up 0.4% to $64.71, Light Sweet Crude – up 0.68% to $57.82
09:34 Container throughput of port Hong Kong (China) down 7.7% to 7.55 million TEUs in Jan-May’2019
09:17 Baltic Dry Index is up to 1,239 points

2019 June 23

16:29 INPEX submits revised plan of development for Abadi LNG Project
15:13 Oceanwide Expeditions: Hondius sister ship m/v Janssonius ordered for 2021
14:19 CMA CGM announces FAK rates on Asia - Pakistan, India and Sri Lanka service
13:46 Coast Guard rescues five from capsized boat in Chesapeake Bay
12:43 Danske Commodities signs 20-year PPA with Hywind Scotland wind farm
10:29 TMC sets up office to support Chinese yards

2019 June 22

15:24 AAPA selects Christopher Connor as its new CEO
12:37 TMC contracted by VARD to supply marine compressors for Viking Cruises' vessels
11:23 ABS to class first ‘tri-fueled’ vessel for Harvey Gulf
10:13 Port of Oakland steps up as ships carry bigger loads than ever
10:05 Coast Guard responds to barge aground in Naknek, Alaska

2019 June 21

18:07 Austal gets Navy's modification to littoral combat ship contract
18:04 MODEC awarded Letter of Intent by Petrobras related to Búzios 5 FPSO
17:58 Frontline announces acquisition of VLCC resale and two LR2 newbuildings
17:56 BC Ferries adds extra sailings for the summer
17:55 Maritime Anti-Corruption Network to develop Global Port Integrity Index and Scale Up Collective Action in West Africa
17:37 Siemens Gamesa receives first offshore wind preferred supplier nomination in Japan: up to 455 MW for Obayashi Corporation
17:12 Krasnoye Sormovo launches final RSD59 ship in a series four units ordered by STLC
16:38 Ships of RF Navy’s Pacific Fleet involved in exercises in the Sea of Japan
16:26 Government of Canada enters into negotiations with Chantier Davie for construction of two ferries
16:14 Standic expands with state-of-the-art chemical storage terminal in Port of Antwerp
15:50 Klaipedos Nafta announced call for Chief Executive Officer
14:27 Safety management training takes centre stage
14:26 USCG says Polar Security Cutter to be homeported at Seattle
14:03 Maersk to offer customers carbon-neutral transport
13:35 LUKOIL’s dividends payable for 2018 will be RUB 250 per ordinary share
13:15 Anthony Veder expands fleet with taking in five gas carriers from GATX
13:12 HELCOM’s Executive Secretary to step down in August 2019
12:48 Novotrans acquired stevedoring company operating Ro-Ro ferry facility at the port of Ust-Luga
12:30 Samskip fine tunes multimodal network for post-Brexit hard choices
12:11 Matson christens first Kanaloa class Con-Ro vessel 'Lurline'