• 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 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
13:44 Bunker prices are slightly up at the Far East ports of Russia (graph)
13:03 Biggest European shipbuilders collaborate on vessel connectivity in project Code Kilo
12:49 NOVATEK reports preliminary operating data for the first quarter 2019
12:13 Frontex, EMSA and EFCA open second annual European Coast Guard Event
11:51 RF Navy’s Northern Fleet takes part in combat training missions as part of final check for winter training season
11:27 ASCO took part in TransRussia-2019
11:00 ZIM joins to blockchain shipping solution TradeLens
10:44 Shareholders agreement on construction of Lavna terminal signed under Murmansk Transport Hub project
10:28 Brent Crude futures price is up 0.1% to $71.69, Light Sweet Crude – up 0.09% to $63.82
10:09 ABS teams with industry leaders to improve container vessel safety
09:53 Keppel secures integration and upgrading contracts worth around S$160 million
09:37 Tri-City ports take part in Seatrade Cruise Global
09:36 Bunker Market this morning, April 18
09:15 Baltic Dry Index is up to 767 points

2019 April 17

19:00 SMS Towage’s Humber fleet adds new tug
18:36 CMA CGM has announced FAK rates from Asia to North Africa
18:06 DESMI's CompactClean Ballast Water Management System receives US Coast Guard Type Approval
17:36 Denmark's first new-build hybrid ferry on key passenger route
17:06 CMA CGM announces FAK rates from Asia to the Mediterranean
16:38 Matson receives new cranes at its Honolulu hub terminal
16:17 Stena Europe undergoes refit upgrades in Turkey