• 2019 March 26 09:44

    MABUX: Bunker Market this morning, March 26

    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.25:

    380 HSFO - USD/MT - 410.14(-9.07)

    180 HSFO - USD/MT - 458.36(-9.93)

    MGO - USD/MT - 630.00(-6.93)

    Meantime, world oil indexes changed irregular on Mar.25, as concerns about a slowdown in global economic growth lingered, offset by the prospect of tighter U.S. crude supply.

    Brent for May settlement rose by $0.18 to $67.21 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for May delivery declined by $0.22 to $58.82 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of 8.39 to WTI. Gasoil for April delivery gained $9.50.

    Today morning oil indexes turned into slight upward evolution.

    The Federal Reserve signaled a more dovish turn last week, indicating that the central bank may not raise rates at all this year, a dramatic turnaround from the expectation of two rate hikes. The move is very positive for oil and fuel prices, however the justification for backing off more rate hikes is that the central bank sees the global economy slowing more than previously thought.

    The opposition-led National Assembly of Venezuela last week voted to suspend crude oil shipments to Cuba after Juan Guaido slammed these exports as funding dark purposes. Guaido’s proposal was voted for unanimously and took immediate effect. However, it remains to be seen whether it will take actual effect as the Maduro government still seems to be in charge of PDVSA. Earlier Guaido tweeted that Venezuela was sending around 47,000 bpd of crude to Cuba and these were worth US$2.58 million that would be better used at home. Venezuela is Cuba’s largest oil supplier under a barter deal sealed by the late leaders of the two countries, Hugo Chavez and Fidel Castro. The deal envisaged Cuba getting regular shipments of crude in exchange for its highly trained doctors and other professionals to work in Venezuela.

    Meantime, two Russian planes with 100 troops landed in Venezuela this weekend. The move is the latest signal of strengthening ties between Caracas and Moscow amid growing pressure on the Maduro government from Washington. An explanation given by Russian official sources, said that Russia has various contracts of a technical military character that are in the process of being fulfilled. The news supported fuel indexes and may spark a reaction from Washington as the Venezuelan crisis continues with no resolution in sight despite the increasing pressure that the United States is piling up on the government in Caracas.

    Security forces at the Alaas field in northern Iraq have thwarted an attack by Islamic State militants, killing and injuring several attackers. This is the latest in several attacks by the terrorist group on the field after it was driven out of the area in 2017. At the time, Alaas was one of the fields that IS set on fire during its retreat. At present the militants have started targeting oil fields again. In early February, Iraqi media reported two attacks on oil police checkpoint staff in a single weekend. Iraq had oil reserves of 153 billion barrels as of 2017, but there is higher estimate and if it proves true, it would make Iraq the largest oil-rich country in the world, ahead of Venezuela.

    U.S. energy firms last week reduced the number of oil rigs operating for a fifth week in a row, cutting nine rigs to the lowest count in nearly a year as independent producers follow through on plans to cut spending with the government cutting its growth forecasts for shale output.

    Prices for LNG in Asia collapsed by more than 50 percent from their 2018 highs as a wave of new projects have come online. As per estimation made by Bank of America Merrill Lynch, LNG supply growth of 22 mtpa in 2018 proved too much to handle. Now, it is expected another 46 mtpa supply in 2019 and 27 mtpa in 2020, with most of the volumes coming from the US.

    We expect bunker prices for IFO may change irregular in the range of plus-minus 1-2 USD/MT while prices for MGO will rise by 4-8 USD.


2019 June 27

09:17 Baltic Dry Index is up to 1,317 points
08:22 Colombo Dockyard delivers cable laying vessel built for Kokusai Cable Ship

2019 June 26

18:31 Dolphin Drilling business completes financial restructuring and appoints new management team
18:11 Jacobs wins contract to help build the largest shipyard in the Arabian Gulf
18:09 Senior officials from Kenya Coast Guard Services are undergoing training at national workshop in Mombasa
17:52 LUKOIL commissions two wells at V. Filanovsky field
17:30 Term of office of Sergey Baryshnikov, Rector of Makarov University, extended for 5 years
17:06 Saudi Aramco signs 12 agreements with South Korean partners worth billions of dollars
16:41 Damen Shiprepair Amsterdam completes major maintenance programme on OSV Deep Arctic
16:23 Nordic Engineering wins competition on development of technical design for 6-8 MW icebreaker
15:49 50 Let Pobedy icebreaker returned to Murmansk after its 50th voyage to North Pole
15:35 OOCL chooses Navis Stowage Planning Software StowMan for its container ship fleet
14:52 MacGregor works together with MSC to maximise performance and reduce emissions
14:50 IMO celebrates 30 years of outstanding legal training
14:26 North Sea Port conducts quay-inspection test using underwater robot from Asset.Insight.
14:03 Damen Shiprepair & Conversion signs contract on the conversion of a dredger ‘Samuel de Champlain’
13:52 EU NAVFOR Somalia takes part in Ministerial Conference on Maritime Security in Western Indian Ocean and Plenary Session of CGPCS
13:24 Sergey Larionov elected as General Director of Lena United River Shipping Company
12:51 Igor Tonkovidov elected as Chairman of Novoship BoD
12:27 Port of Rotterdam Authority to invest over 3.5 million euros to optimise the Wilhelminahaven
12:00 Nevsky Shipyard certified in “Military Register” Voluntary Certification System
11:58 Closing of MacGregor's TTS acquisition postponed to Q3 2019
11:35 Russia's Main Department of State Expertise approved project on development of bunkering base at commercial seaport of Murmansk
10:57 Yamal LNG shipped first LNG cargo to Japan
10:18 Brent Crude futures price is up 1.42% to $65.19, Light Sweet Crude – up 1.94% to $58.95
09:59 IAPH South East Asia and Oceania Region meets in Kuala Lumpur in August
09:44 MABUX: Bunker Market this morning June, 26
09:33 Bunker prices increase at the port of Saint-Petersburg, Russia (graph)
09:14 Baltic Dry Index is up to 1,280 points

2019 June 25

18:06 VARD orders seawater cooling for newbuild cable layer
17:34 ABP Humber Estuary Services (HES) purchased new £600,000 survey vessel
17:06 Q-Flex vessel sets delivery benchmark in Turkey
16:28 Awilco LNG posts vessel and contract update
16:22 Zhatai Shipyard to be provided with RUB 4.1 billion of budget investments in 2019–2021
15:59 Maersk introduces Maersk Spot, a new fully online product that simplifies the buying process for customers
15:15 NCSP Group announced decisions made at annual general shareholders' meeting
14:51 IMO: committed to implementation
14:20 ABP King’s Lynn investment attracts new construction industry customer
13:37 MAN B&W dual-fuel engines pass half-million hour milestone
12:59 ECSA celebrates the Day of the Seafarer
12:47 Bunker market sees mixed price movements at the Far East ports of Russia (graph)
11:58 Fuel technologies in the spotlight at ABS Hellenic Technical Committee
11:39 Dickson obtains status of international port
10:58 MEYER WERFT hands over Spirit of Discovery to the British cruise line Saga Cruises
10:42 Concordia Damen ships 18 hulls from Shanghai to Rotterdam
10:24 Gender equality is the theme of Day of the Seafarer 2019
10:03 Brent Crude futures price is down 0.81% to $63.66, Light Sweet Crude – down 0.88% to $57.39
09:46 MABUX: Bunker market this morning, June 25
09:16 Baltic Dry Index is up to 1,258 points

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