• 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 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