• 2019 May 22 08:53

    MABUX: Bunker market this morning, May 22

    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) changed insignificant and irregular on May 21:

    380 HSFO – 441.87 (-0.57)
    180 HSFO – USD/MT – 478.05 (+0.11)
    MGO – USD/MT – 702.90 (-3.34)

    Meantime, world oil indexes also changed irregular on May 21 as the prospect of mounting U.S.-Iran tensions disrupting supply was offset by concerns that a lengthy trade war between Washington and Beijing would limit crude demand.

    Brent for July settlement increased by $0.21 to $72.18 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for June delivery gained $0.03 to $63.13 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of 9.05 to WTI. Gasoil for June lost $6.50.

    Today morning oil indexes demonstrate slight downward movement.

    OPEC and its partners may decide to keep the oil production cuts until the end of the year as the cartel fears a steep price drop if cuts were to be reversed within the next couple of months. However, there seem to be two ways to do that: one would be to have everyone comply 100 percent with the production targets set out in the December agreement that called for the removal of a combined 1.2 million bpd from global supply. Another is to allow individual members of the club to implement a different level of cuts by taking as baseline the average monthly production rate for a month of their choice between September and December 2018. However, while an attempt at strict compliance with the December targets would eventually reduce global inventories in the second half of the year, the other option would result in an eventual increase in the five-year average of global supply.

    Despite criticizing the U.S. decision not to extend any sanction waivers for Iranian oil customers, Turkey appears to be fully complying with the U.S. sanctions on Iran’s oil. Turkey was one of the eight buyers of Iranian oil that were given an initial six-month waiver to continue importing crude from Iran at reduced volumes after the U.S. slapped back sanctions on Iran in November last year. The U.S. ended all waivers for all Iranian customers as of early May. At the moment Turkey had reduced its imports from Iran and has started to buy more oil from Russia, Kazakhstan, and Iraq, to replace Iranian barrels,

    The Houthi rebels in Yemen said over the weekend that last week’s attack on an Aramco oil pipeline in Saudi Arabia was the start of military operations against some 300 vital military targets in the Kingdom and in the United Arab Emirates (UAE). The Houthis have identified targets such as military headquarters and facilities in the UAE and in Saudi Arabia, as well as their bases in Yemen. Saudi Arabia and Iran are essentially fighting a proxy war in Yemen, where the Saudis lead a military Arab coalition to restore legitimacy in the country, while the Houthi movement, which holds the capital Sanaa, is backed by Iran. The heightened tension in the Middle East and the U.S.-Iran standoff have been supporting oil prices in recent days.

    Western oil majors Total and Eni have suspended payments to the Russian companies that sold them contaminated crude via the Druzhba pipeline. Last month, Russia halted supplies via the Druzhba oil pipeline to several European countries due to a contamination issue. Normal deliveries via the pipeline are expected to resume in the second half of May. The supplies via the Druzhba pipeline are made according to Russian law, under which buyers first pay, and if they are not satisfied with the quality of the crude, they can claim damages and compensations. The Russian oil supply contamination has disrupted the refinery operations of some companies. Total, as an example, halted last week some of the units at its 230,000-bpd Leuna refinery in Germany to conduct technical checks.

    Crude and lease condensate production in the North Sea is set for lower levels in the summer months, further tightening the global oil market. Current unplanned outages at Oseberg and Flotta in the North Sea restrict a total of 160,000 bpd of North Sea production. It is estimated that outages in the North Sea in May will be 185,000 bpd. Yet, the biggest disruption is expected next month, when North Sea oil production is seen down to its lowest level since August 2014 because of scheduled maintenance at Ekofisk. The news rendered support to the fuel prices.

    We expect bunker prices will not haver firm trend and will change irregular in a range of plus-minus 1-4 USD.




2019 September 16

18:04 Ports draw $5B investment, 12K jobs to Georgia
17:59 GOGL increases investment in Singapore Marine
17:50 Pella launched first serial trawler of Project 03095, Castor
17:25 Tenders on pilot projects for stevedoring company concessions in Olvia and Kherson ports officially announced
17:04 Vestdavit equips Norwegian Coast Guard’s next generation for Polar boat launch and recovery
16:29 USCG halts 2 illegal charters near Miami, Fort Lauderdale
16:04 Royal Caribbean to welcome first Quantum Ultra Class ship to North America
15:27 Boluda Towage Spain manoeuvres world’s largest container ship in port of Algeciras
15:04 Cargill and Maersk Tankers join forces in the Medium Range segment
14:10 Zvezda shipyard hosts keel-laying ceremony for third Aframax tanker for Rosnefteflot
13:39 Jotun transforms turnaround times for storage tanks with a new TankFast solution
13:16 North Sea Port starts testing more reliable lockage planning for scheduled services in the Terneuzen lock
12:42 Meyer Turku is moving the delivery of Costa Smeralda to November
12:18 AEC welcomes Guggenheim Partners Investment Management as Arctic Partner
11:55 Professional emergency response team of Kontur SPb LLC recommended to be certified for emergency response to oil spills
11:21 Workshop on ISPS Code for Designated Authority and Port Facility Security Officers held in Ghana
10:53 IMO continues work to promote ratification of international treaty covering wreck removal
10:29 GESAMP celebrates fifty years of service in ocean science
10:04 Busan Port Authority and Adani Ports & SEZ conclude MOU
09:50 Brent Crude futures price is up 9.96% to $66.22, Light Sweet Crude – up 8.61% to $59.52
09:32 Gazprom supports 3rd Conference “LNG Fleet and LNG Bunkering in Russia” as its General Sponsor
09:17 Baltic Dry Index is down to 2,312 points
09:08 Nyborg becomes 30th port to join the Cruise Baltic network
08:44 ECSA, INTERFERRY, EUDA and CLIA Europe welcome report on the evaluation of the Energy Taxation Directive
08:35 MABUX: Bunker Market this morning, Sept 16
08:00 Live webcast of NEVA 2019 zero-day conference begins at 10 am, September 16, on PortNews website

2019 September 15

15:47 M/V "SARA” refused access to the Paris MoU region
14:26 USCG assisted capsized USFSP sail students in St. Petersburg, Florida
12:02 World’s largest wind turbine blade test stand built by Siemens Gamesa
11:21 IMCA to introduce CPD scheme for diving supervisors
10:51 L3Harris Technologies delivers new advanced autonomous vehicle capability to UK’s Defence Science and Technology Laboratory

2019 September 14

15:29 Coast Guard reopens Houston Ship Channel after protest demonstration
13:39 Crondall Energy partners with Pharis Energy on innovative Pilot Field development
12:08 Prysmian's new cable-laying vessel Leonardo da Vinci scheduled for delivery in 2Q 2021
10:32 Woodside invests in emerging technology for seismic data acquisition

2019 September 13

18:06 Sture terminal situation normalised
17:47 Malaysia encourages gender diversity in the maritime industry
17:24 Multipurpose ship of Project MPSV12, Kalas, successfully completed sea trials
17:06 Frontline extends expiry date of first option for two Trafigura Suezmax tankers
16:30 ABP to welcome Royal Navy’s HMS Grimsby into Port of Grimsby
16:25 Wärtsilä Aquarius UV Ballast Water Management System chosen for retrofitting to four Korean vessels
16:05 Multi Modal Rail B.V. (MMR) launches rail service between Rotterdam and Ottmarsheim, France
15:48 ABP and WISTA UK host 'Women in Maritime' reception during LISW
15:09 Shearwater GeoServices awarded large South America survey
14:26 ABB enables emissions-free port stay in Marseille for Corsica Linea ferries
14:09 Start of the project “Dredging the Nieuwe Diep – Port of Den Helder”
13:45 First ever ABB electric propulsion to be installed on board a bulk carrier
13:20 Port of Oakland opens peak season with cargo volume growth
12:47 Throughput of port Kavkaz in 8M’2019 fell by 30% Y-o-Y to 22.35 million tonnes
12:09 MOL starts demonstration test of vessel image recognition system using AI technology on Nippon Maru
11:28 RS introduces new requirements into Part I of Rules for Classification and Construction of Sea-Going Ships
11:09 Rolls-Royce achieves 50th MT30 production milestone
10:42 In August, Klaipėda LNG Terminal regasified 1.4 times more gas than was consumed in the entire country
10:09 Port of Long Beach cargo volumes hit 663,992 TEUs in August 2019
10:04 Port Napier, NZ, places order for Damen ATD Tug 2412
09:51 Bunker market sees mixed price movements at the port of Saint-Petersburg, Russia (graph)
09:34 Brent Crude futures price is down 0.28% to $60.21, Light Sweet Crude – down 0.24% to $54.96
09:16 Baltic Dry Index is down to 2,331 points
09:10 Antwerp and Rotterdam Port Authorities ask new European Commission and Parliament to focus on the economic significance of ports
09:03 MABUX: Bunker market this morning, Sept 13