• 2019 April 25 10:49

    MABUX: Bunker market this morning, Apr.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) continued upward trend on Apr.24:

    380 HSFO - USD/MT - 433.36(+5.15)
    180 HSFO - USD/MT - 481.71(+5.35)
    MGO - USD/MT - 663.43(+3.43)


    Meantime, world oil indexes changed irregular on Apr.24 after data showed U.S. crude stockpiles surged to their highest levels since October 2017, countering fears of tight supply resulting from OPEC output cuts and U.S. sanctions on Venezuela and Iran.

    Brent for June settlement increased by $0.06 to $74.57 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for June delivery lost $0.41 to $65.89 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of 8.68 to WTI. Gasoil for May delivery dropped by $4.00.

    Today morning oil indexes are steady.

    U.S. crude inventories rose 5.5 million barrels last week, far more than analysts’ forecast of an increase of 1.3 million barrels. Crude output in the United States, which turned into the world’s top producer last year, last week edged back to its record high at 12.2 million barrels per day while net imports jumped 900,000 bpd. However, refinery utilization rates rose to 90.1 percent of total capacity, their highest since early February.

    Goldman Sachs acknowledged the upside risk to oil prices from Iran sanctions, but nonetheless stuck with its second quarter forecast for Brent to trade within a $70-$75 per barrel range. The investment bank continues to see limited upside because of the high uncertainty whether OPEC and its Russia-led non-OPEC allies will extend their production cut pact after June this year. As per Goldman, the U.S. maximum pressure to choke off all Iranian oil sales is making the OPEC+ pact even more vulnerable to break-up than before, because the U.S. appears certain that Saudi Arabia and the United Arab Emirates (UAE) will offset lost Iranian barrels.

    International Energy Agency (IEA) reported OPEC’s spare capacity has reached 3.3 million barrels per day. As per IEA, the global oil markets are now adequately supplied with plenty of spare capacity to make up for any gaps in oil supplies. The IEA cautioned, however, that global economic growth is still fragile, and urged oil consumers and producers to take steps to avoid higher oil prices that will prove painful to all alike.

    Trump surprised the oil market on Apr.22, announcing that he would let U.S. sanctions waivers expire at the end of the month. The eight countries granted six-month waivers last year had hoped to obtain extensions, but the Trump administration has opted for maximum pressure on Iran. However, it may also mean maximum pressure on the oil market if Iran loses a significant portion of its oil exports.

    The White House also said that Saudi Arabia and the UAE have agreed to offset lost barrels from Iran, although Saudi Arabia was more measured in its response, saying only that it would add supply if needed. In fact, Saudi Arabia could add a few hundred thousand barrels per day above current levels and still keep output below its ceiling as part of the OPEC+ deal, but that may not be enough to compensate for outages in Iran, which could be significant.

    The two top buyers of Iranian oil (China and India) may follow U.S. sanctions. China, which imports approximately 500,000 bpd (barrels per day), will make considerable cuts in the near term. For Beijing, securing the trade agreement with the U.S. is the top priority, and China will not link Iran oil imports to the trade talks. After all, the whole point of the U.S. campaign is to take Iranian oil exports to zero, down from roughly 1.3 million bpd in March.

    We expect bunker prices will not have any firm trend today and may change irregular in a range of plus-minus 1-3 USD.




2019 July 22

15:14 Container throughput of port Hong Kong (China) down 8.1% to 9.06 million TEUs in Jan-June’2019
14:51 Port of Singapore throughput in Jan-June’2019 climbed by 0.6% to 315.17 million tonnes
14:28 JAXPORT sets container and auto records through first three quarters of fiscal year 2019
13:53 Throughput of port Helsinki (Finland) in Jan-June’19 fell by 6.1% to 7.14 million tonnes (table)
13:29 Bunker sales at the port of Singapore in Jan-June’2019 fell by 6.5% Y-o-Y to 23.7 million tonnes
12:56 Average wholesale prices for М-100 HFO up to RUB 17,248 in RF spot market
12:32 London to host 19th Vessel Efficiency & Fuel Management Summit on November 27-28
12:10 Turbine assembly begins for the WindFloat Atlantic project
11:55 Hamburg to host ACI’s Digitalisation in Shipping: Europe 2019 on October 9-10
11:24 NOVATEK closes Arctic LNG 2 transaction
11:10 APM Terminals Maasvlakte II increases rail service to major inland logistics hub
11:04 Seadrill secures contract for the West Polaris in Southern Asia
10:30 ASCO ships continue working on Absheron gas condensate field
10:08 Port of Oakland freight hauler testing two more electric big rigs
09:55 International Finance Corporation visited NIBULON’s facilities
09:36 Brent Crude futures price is up 1.63% to $63.48, Light Sweet Crude – up 1.08% to $56.23
09:32 MABUX: Bunker market this morning, July 22
09:19 Baltic Dry Index is up to 2,170 points
09:07 CMA CGM announces FAK rates from Asia to the Middle East Gulf
08:00 SCANEX Group offers video presentation of geoinformation services for maritime industry
07:42 Parkwind and Jan De Nul start works for the 219 MW offshore wind farm off the Belgian coast

2019 July 21

16:31 USCG begins investigation into three tugboats sinking
15:18 Tolent kicks off construction of Triton Knoll’s new base on Grimsby’s Royal Dock
14:48 ONE launches new direct service between South East India, Mediterranean, and North Europe
14:37 Major milestone met on Moray East Offshore Windfarm project
13:04 Odfjell SE sells its ownership share of terminal in Jiangyin, China
12:32 Quark Expeditions debuts new livery and interior design for Ultramarine
11:02 NYK selected for FTSE4Good Index for 17th straight year and FTSE Blossom Japan Index for 3rd consecutive year

2019 July 20

15:47 FortisBC secures first export contract for Tilbury LNG facility
13:42 AIDA Cruises plans practical trial of fuel cells abord one of its ships as early as 2021
12:51 Ports of Long Beach, Los Angeles host Clean Truck Program Rate Workshop
11:37 USCG responds to oil slick near Port Aransas, Texas
10:56 Wallem introduces cloud-based software for simpler workflows

2019 July 19

18:10 NYK holds fleet safety promotion conferences for shipowners and ship-management companies
18:04 Incat Tasmania exports new 111 metre ferry to Spain
17:49 World's largest air-cushioned landing craft takes part in Navy Day parade rehearsal in Baltiysk
17:25 Caspian Flotilla ship crews prepare for Naval Parade
17:03 FortisBC secures first export contract for Tilbury LNG facility
16:22 Project documentation for construction of Nizhny Novgorod hydroengineering facility completed - Victor Vovk
16:03 CMA CGM announces GRR from Asia to East and South Africa
15:50 East Mining Company to invest RUB 11.5 billion in development of its coal project in Sakhalin
15:33 Moby names Damen ASD Tug 2813 Vincenzino O. in Cagliari
15:12 Cargotec posts financial report for January–June 2019
14:47 Blagoveshchensk shipyard completed state trials of hydrographic survey vessel of Project 19910
14:33 NYK recognized for implementation of advanced navigation support tool
14:12 Global Ship Lease announces new charter agreement
13:51 150 graduates of Moscow State Water Transport Academy awarded with diplomas
13:30 RF Government includes NOVATEK’s LNG terminal project into area planning scheme
13:12 Port of Long Beach releases draft Master Plan update
13:07 Epic Gas Ltd. completes acquisition of two vessels of four LPG carriers
12:24 USCG finds federal fisheries violations aboard 5 recreational fishing vessels
12:11 IMO Council condemns tanker attacks in Strait of Hormuz and Sea of Oman
11:31 Naval Group reports order intake growth in H1 to 3.9bn euro
11:14 Ice-breaking LNG carrier for Yamal LNG Project named NIKOLAY URVANTSEV
10:58 Minister of Transport of Malaysia visits World Maritime University
10:26 Saudi Arabia accedes to two important IMO treaties
09:55 Bunker prices are slightly down at the port of Saint-Petersburg, Russia (graph)
09:50 MABUX: Bunker market this morning, July 19
09:33 Brent Crude futures price is up 1.91% to $63.11, Light Sweet Crude – up 1.48% to $56.12
09:16 Baltic Dry Index is up to 2,130 points