• 2019 May 20 08:59

    MABUX: Bunker market this morning, May 20

    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 May 17:

    380 HSFO - 418.57(+7.43)
    180 HSFO - USD/MT - 464.79(+6.86)
    MGO - USD/MT - 668.64(+5.43)

     Meantime, world oil indexes edged lower on May 17 due to demand fears amid a standoff in Sino-U.S. trade talks.

    Brent for July settlement decreased by $0.41 to $72.21 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for June delivery dropped by $0.11 to $62.76 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of 9.45 to WTI. Gasoil for June lost $8.25.

    Today morning oil indexes have turned into slight upward correction.

    The escalating trade war between the U.S. and China is keeping oil prices subdued, but the fear premium seems to be growing as tensions across the Middle East threaten outages.

    Last week President Trump essentially blacklisted Chinese telecom giant Huawei Technologies from operating in the U.S., escalating the standoff with China. The Chinese government offered a cautious tone in response to trade actions from Washington, but Beijing and state media are taking an increasingly strident line, which suggests China is not close to backing down. China’s currency slid on the news, as did the Shanghai Composite Index.

    The IEA downgraded its demand estimate for 2019 by 90,000 bpd, as a result of an unexpectedly oversupplied first quarter.  The lower demand figure ultimately meant that the global oil market was in surplus in the first quarter by about 0.7 million bpd, a larger glut than expected. As per IEA, the U.S.-China trade war could complicate the situation. The OECD estimates that last year’s round of tariffs shaved off a quarter percentage point from GDP in both countries. The latest increase in tariffs could double the impact to a half percentage point by 2020. The IEA’s resume is that the oil market is sending mixed signals. Weaker demand combined with supply outages and slowing but still significant production growth – it gives a confusing picture in which the market is tightening.

    After about two weeks of rapid escalation in tension between the U.S. and Iran, there might be some signs of the de-escalation attempts made by the U.S. side. President Trump met with Swiss President Ueli Maurer last week. The Swiss have acted as a backchannel for U.S.-Iran talks in the past, which raised speculation that the White House might be trying to decrease the tension. Privately, Trump has said he doesn’t want war with Iran.

    No increased threat seen in Iraq, despite U.S. embassy withdrawal. Royal Dutch Shell said that it was monitoring the security situation in Iraq after the U.S. pulled out embassy staff in Baghdad due to an alleged threat from Iran. Shell, ExxonMobil, BP and others are operating as usual. The decision to remove some workers appears to be a political decision.

    The assault on Tripoli by the Libyan National Army (LNA) has fallen into a deadlock, and the ongoing fighting shows no sign of nearing resolution, despite calls for a ceasefire by global powers. For weeks, Libya’s oil production has held up surprisingly well. Output even rose a bit in April by 71,000 bpd, reaching 1.176 million barrels per day (bpd). The increase is impressive in the context of the outbreak of civil war. But even though Libya managed to prevent production and export outages over the last few weeks, it’s not clear that successful streak can continue, especially because a stalemate between the two fighting factions (LNA and the internationally-recognized Government of National Accord (GNA))
    only increases the odds of an outage.

    The recent attacks on Saudi oil tankers near the Persian Gulf could increase the cost of insurance and security, which may ultimately push up oil and fuel prices.

    The number of active oil and gas rigs fell again in the United States last week, after a string of losses in the weeks prior, keeping the overall rig count well below year-ago levels for a sixth week in a row. The total number of active oil drilling rigs in the United States fell by 3 to reach 802. The combined oil and gas rig count is 987, with oil seeing a 42-rig decrease year on year. US oil production, too, fell for two weeks in a row, with week ending May 10 coming in at 12.1 million bpd—200,000 bpd off the April 26 high of 12.3 million bpd.

    We expect bunker prices may slightly decline today in a range of minus 2-7 USD.




2019 September 20

18:41 Vostochny Port joins Coordinating Council on Trans-Siberian Transportation as its permanent member
18:22 IAA PortNews offers photo release from 'Development of Icebreaking and Support Fleet' conference held on NEVA 2019 zero-day
18:05 Global Ship Lease announces new five-year $268 mln credit facility for debt refinancing
17:24 Vostochny Port’s harbour services fleet presented at dedicated conference in Saint-Petersburg
17:05 F. A. Vinnen places entire fleet with Verifavia Shipping & Rina for IHM services
16:50 Helsinki Shipyard (Finland) to build two liners for polar cruises
16:35 COSCO SHIPPING Ports announces disposal of interest in various port assets and possible disposal of Taicang Terminal and Jiangsu Petrochemical Terminal
16:21 ABB presents electric power and propulsion solutions for icebreaking vessels at NEVA 2019
16:05 Port of Los Angeles protects overall clean air gains
15:19 Port of Riga rapidly increases volume of handled wood pellets
14:53 South Korean port to slash passenger vessel emissions with ABB shore power
14:15 Krasnoye Sormovo launches Pola Pelagia, dry cargo carrier of Project RSD59З, for Pola Rise
13:30 Damen Shipyards Group is ready to ensure construction of electric water buses for rivers and canals of Saint-Petersburg and Russia
13:12 MSC Cruises and Fincantieri unveil further details of MSC Seashore at coin ceremony
12:24 Victor Olersky sees promising future of electric river passenger ships in Saint-Petersburg and in Russia
12:09 Algoma Central Corporation announces agreement to acquire Croatian-built vessel
11:28 Specifications for 0.50% sulphur fuels and the PAS from ISO: IBIA explains
11:09 GTT obtains Approval in Principle from Bureau Veritas for the Mark III Flex technology on ice-breaking LNG carriers
10:52 IBIA and S&P Global Platts collaborate to help shipping industry comply with IMO 2020
10:31 Workshop for training on emergency response, preparation and planning held in Manila
10:09 Van Oord and Shell test the use of biofuel on trailing suction hopper dredger HAM 316
09:50 State Duma ratifies Convention on the Legal Status of the Caspian Sea
09:33 Brent Crude futures price is up 0.20% to $63.73, Light Sweet Crude – up 0.98% to $58.7
09:25 Lloyd’s Register, China Merchants, GTT, CNOOC, DSIC form jv to design LNG-fuelled VLCC
09:17 Baltic Dry Index is down to 2,192 points
08:58 MABUX: Bunker Market this morning, Sept 20

2019 September 19

18:04 Bibby Marine Services takes the next step to optimize walk-to-work operations
17:56 Marinet approves Poseidon maritime cyber security project
17:37 American Ethane reveals plans to order 17 VLECs
17:34 Wärtsilä’s Board of Directors decided on the distribution of the second dividend instalment
17:22 Marinet approves T2OT project for high accuracy positioning of seagoing vessels
17:04 VARD secures advanced stern trawler contract with Luntos
16:50 Average wholesale prices for М-100 HFO down to RUB 14,328 in RF spot market
16:34 Zeebrugge port authority invests in new 1,071 meter quay wall
16:04 RINA to classify Swedish Maritime Administration fleet
15:53 Marinet set to establish exports support center in Finland in 2020
15:34 MacGregor secures orders worth more than EUR 20 million for projects in Europe and Asia
15:05 Wärtsilä foresees a lower result for 2019
14:31 North Pole ice-resistant platform presented by Admiralteiskie Verfi at NEVA 2019
14:09 ABS announces LNG Cargo Ready notation for ethane carriers at Gastech 2019
13:46 Hyundai Heavy Industries receives AIP for new LPG carrier design
13:03 Bunker prices go up at the Far East ports of Russia (graph)
12:40 ABS and AEC сollaborate on newbuild VLEC fleet
12:17 Murmansk Sea Fishing Port handled 171,200 tonnes of cargo in 8M’2019, down 28.5% Y-o-Y
11:58 PortNews-TV offers video on naming ceremony for PortNews tanker
11:36 International symposium on Anthropogenic Underwater Noise held in Hamburg on 10 September
11:09 LR awards DSME AiP for 98,000 m3 VLEC design with High MnA steel tank
10:42 Ships of RF Navy’s Caspian flotilla take part in Tsentr 2019 maneuvers
10:09 Singapore and Panama ink MoU to strengthen maritime relations
09:51 Brent Crude futures price is up 0.20% to $63.73, Light Sweet Crude – up 0.33% to $58.23
09:49 MABUX: Bunker market this morning, Sept 19
09:33 Baltic Dry Index is down to 2,266 points
09:18 ABS grants AIP for two next generation gas carrier designs

2019 September 18

18:26 SGRE confirmed member of the Dow Jones Sustainability Indices in 2019
18:03 MOL repays existing loans through issuance of project bond for FPSO charter project
17:48 Russia’s Rosmorrechflot and Ministry of Industry and Trade develop preferential leasing programme
17:30 Vympel DB develops concept design for Arctic cruise ship
17:22 Metal Shark delivers new foil-assisted catamaran excursion vessel to Pure Florida
17:11 US Coast Guard shifts response efforts in Bahamas
17:03 ECSA considers the European State Aid Guidelines for maritime transport highly successful and key to maintaining a strong European shipping sector