• 2019 April 23 12:26

    MABUX: Bunker Market this morning 23rd April

    The Bunker Review was contributed by Marine Bunker Exchange

    Trump's Latest Oil Market Gamble

    Global oil prices started the week by spiking around 3 percent on reports that Washington was preparing to announce that all buyers of Iranian oil will have to end those imports soon or face U.S. sanctions. Reuters cited a Washington Post article and sources stating that the U.S. will announce the termination of Iranian oil import sanctions waivers on Monday.

    The waivers move, granted by Trump in November, shocked global oil markets and created a supply overhang that the OPEC+ group of producers is now working to eliminate. Countries that received 180-day waivers last fall include Japan, China, India, South Korea, Taiwan, Italy, Greece, and Turkey - all of Iran’s biggest oil clients.

    Oil prices spike early Monday

    Prices for global oil benchmark, London-traded Brent crude rose as much as 3.2 percent in early Monday trading, to $74.30/barrel. It’s the highest price point since November 1. U.S.-benchmark, NYMEX-traded West Texas Intermediate (WTI) crude futures spiked as much as 2.9 percent in early Monday trading, reaching $65.87/barrel - the highest point since October 30 and just before Trump announced sanctions waivers for Iranian oil.

    The sanctions waivers put in place by Trump particularly caught U.S-ally, OPEC de facto leader and the world’s largest oil exporter Saudi Arabia by surprise as well. As discussed in my April 20 post, since Trump didn’t consult with Riyadh before granting Iranian oil waivers, it resulted in an uptick in global oil supply and downward pressure on prices, costing the Saudis and other major producers lost revenue. Since that time, Saudi Arabia has largely been immune to Trump’s tweets calling for the Kingdom and OPEC to pump more oil to reduce oil prices which are at five-month highs.

    Oil races to near six-month highs on Iran sanctions, stocks rise

    World oil prices jumped to near 6-month highs on Tuesday as the United States tightened sanctions on Iran, sending shares of energy companies higher and boosting currencies of several major crude producers.

    Brent crude oil futures rose 0.7 percent to $74.57 per barrel by 0630 GMT, their highest since November, after Washington said it was ending all sanctions waivers for countries buying Iranian oil.[O/R]

    U.S. light crude rose 0.8 percent to $66.10.

    MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.1 percent, as gains in oil and gas producers offset losses in airlines and other transport sectors facing higher fuel costs. Japan’s Nikkei closed up 0.2 percent.

    European markets looked set to track Asia’s rise, with London’s FTSE futures up 0.4 percent and German DAX futures higher by 0.2 percent.

    The United States on Monday demanded all buyers of Iranian oil stop purchases by May 1 or face sanctions, a move to choke off Tehran’s oil revenues.

    The White House said it was working with top oil exporters Saudi Arabia and the United Arab Emirates to ensure the market was “adequately supplied,” but traders had already been worried about tight supplies.

    Oil Future close at 19th April:
    Brent: $74.04(+2.07)pbr
    WTI: $74.04(+2.07)pbr
    MGO: $648.75(+13.25)/mton
    NY Harbor Ulsd: $647.74(+10.19)/mton


    Oil Future trading at GMT: 09.04; Brent:+44 cents, WTI:+50 cents
    General tendency is upward.

    Expect bunker prices to rise 12-13 usd/mton for Fuel Oil, MGO and NY Harbor Ulsd. 




2019 May 21

18:33 Maersk to charter 13 new feeder ships powered by conventional fuel from 2021
18:25 Long-term Wärtsilä service agreements support optimal performance for LNG Carriers
18:04 GTT notified by Samsung Heavy Industries for the tank design of a new LNG carrier for Nisshin Shipping
17:48 Throughput of port Vysotsk in Jan-Apr'2019 climbed by 7% Y-o-Y to 6.65 million tonnes
17:25 Bunker prices still show no considerable changes at the Far East ports of Russia (graph)
17:19 ABB to enable world’s first hydrogen-powered river vessel
17:04 Port of Zeebrugge sets new record with maiden call of OOCL United Kingdom
16:42 Sredne-Nevsky Shipyard lays down Pioner-M, research ship of Project 25700
16:19 USCG host workshop to discuss safe operation of commercial passenger vessels
16:04 IMO issues additional guidance for sulphur 2020 implementation
15:33 UN agency pushes forward on shipping emissions reduction
15:19 Nevsky Shipyard delivers Nevsky Shipyard second vessel in a series of five dry cargo vessel of project RSD59
15:03 Panama Canal announces enhancements to its Green Connection Environmental Recognition Program
14:27 DSD sells its ferry and expressboat company Norled
14:06 Throughput of port Primorsk in Jan-Apr’2019 grew by 5% Y-o-Y to 18.95 million tonnes
14:03 MOL and Weathernews release of FOCUS Project part I 'Fleet Viewer' application
13:44 Port of Hamburg posts Q1 2019 results
13:41 Czech and Polish officials visit the Port of Gdansk to promote trade between the countries
13:14 Multipurpose Reloading Complex boosts investments in environment protection 15 times to RUB 8 million
12:49 Port of Ust-Luga handled 35.55 million tonnes in 4M’19, up 8% Y-o-Y
12:25 Throughput of Port St. Petersburg in Jan-Apr'2019 grew by 2% Y-o-Y to 19.67 million tonnes
12:02 IAPH Port Planning and Development Committee published a report “Autonomous Vehicles’ Impact on Port Infrastructure Requirements ”
11:28 Port of Kiel welcomes “Aidaprima” for its maiden call
11:00 Container Terminal Saint-Petersburg allocated RUB 2.9 million for implementation of its social programme in 1Q’2019
10:11 Swan Hunter completes modular offshore grid cable storage load-in
09:56 Brent Crude futures price is up 0.31% to $72.19, Light Sweet Crude – up 0.43% to $63.48
09:27 Debmarine Namibia to invest in world’s first custom-built diamond recovery vessel
09:13 Baltic Dry Index is up to 1,041 points
08:05 MABUX: Bunker market this morning, May 21

2019 May 20

18:35 First MAN dual-fuel, diesel-mechanical propulsion package bound for LNG-powered ferry
18:24 Peel Ports expands logistics services with acquisition
18:06 CMA CGM announces FAK rates from Asia to North Africa
17:28 Less storm damage in the port of Rotterdam because of Windbreakers
17:14 HMM to launch new Corporate Identity
17:06 Access World Terminals expands premises and activities in North Sea Port
16:54 Arctic LNG 2 and TechnipFMC sign EPC Contract for LNG plant
16:31 CMA CGM announces FAK rates from Asia to the Mediterranean
16:05 Damen Shiprepair Brest completes rapid repairs to LNG Carrier Methane Princess
15:38 Scrubber washwater to be investigated
15:15 MEPC agrees on scrubber guidance
14:51 Finnlines’ Tapani Voionmaa elected to the BIMCO Board of Directors
14:26 Gazpromneft Marine Bunker’s sales in 1Q’19 grew by 25% YoY to 800,000 tonnes
14:02 Zeaborn places 100 ships with Verifavia Shipping & Korean Register for Inventory of Hazardous Material services
13:44 Ministry of Transport and Communication of Finland: Reforms related to ship safety nearing completion
13:23 IMO organized workshop for getting audit-ready in Cameroon
13:02 Wärtsilä and LUT University to collaborate on research for 100% renewable energy systems
12:37 Average wholesale prices for М-100 HFO down to RUB 19,363 in RF spot market
12:01 International shipping on track to meet 2030 CO2 reduction target following critical UN IMO meeting
11:45 SMS Towage calls on Damen for two ASD 2411 Tugs
11:34 Annual capacity of Russia’s Baltic ports can be increased by 32.5% to 478.9 million tonnes by 2025
11:12 Bunker sales at the port of Singapore in Jan-Apr’2019 fell by 8% Y-o-Y to 15.78 million tonnes
10:50 Port of Singapore throughput in Jan-Apr’2019 fell by 1.1% Y-o-Y to 205.72 million tonnes
10:27 Throughput of port Shanghai (China) in Jan-Apr’19 remained flat at 178.59 million tonnes
10:05 Brent Crude futures price is up 1.27% to $73.13, Light Sweet Crude – up 1.18% to $63.66
09:46 Container throughput of port Hong Kong (China) down 7.6% to 5.99 million TEUs in Jan-Apr’2019
09:24 CLIA Conference and trade fair held in Southampton
09:13 Baltic Dry Index is up to 1,040 points
08:59 MABUX: Bunker market this morning, May 20

2019 May 19

16:51 Hamburg Süd strengthens its product portfolio on the Europe–Central America, Caribbean and South America West Coast trade
15:47 CMA CGM to implement FAK rates for Asia to the Middle East Gulf, Asia to Pakistan / India / Sri Lanka trades