• 2019 June 20 09:27

    MABUX: Bunker market this morning, June 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) slightly rose on June 19:

    380 HSFO – USD/MT – 387.56 (+5.74)
    180 HSFO – USD/MT – 427.58 (+4.84)
    MGO – USD/MT – 638.50 (+2.75)


    Meantime, world oil indexes slightly declined on Jun. 19 after official government data showed a larger-than-expected fall in U.S. crude inventories.

    Brent for August settlement declined by $0.32 to $61.82 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for August delivery fell by $0.14 to $53.97 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of 8.06 to WTI. Gasoil for July lost $2.25.

    Today morning oil indexes turned into moderate upward evolution.

    The Energy Information Administration said in its regular weekly report that crude oil inventories decreased by 3.11 million barrels in the week to June 14. That was compared to forecasts for a stockpile draw of 1.08 million barrels after a build of 2.21 million barrels in the previous week.

    U.S. Secretary of State Mike Pompeo said U.S. doesn’t want war with Iran but keeps option on the table. While the U.S. says Iran was behind the tanker attacks, some countries doubt if there is enough evidence. Meanwhile, Iran said its uranium enrichment would breach the limits of the 2015 nuclear deal within 10 days if Europe did not help it circumvent U.S. sanctions. President Trump seemed to downplay the conflict, calling the tanker attacks very minor, indicating a disagreement within his administration.

    The International Energy Agency (IEA) cut its oil demand growth forecast last week—by 100,000 bpd from last month to a current estimate of 1.2 million bpd growth for 2019—a second consecutive downward revision in its monthly reports.  The IEA also warned that world trade growth has slumped to its slowest rate since the 2008/09 financial crisis and the consequences for oil demand are becoming apparent. The IEA, however, noted that there is optimism that the latter part of this year and next year will see an improved economic picture.

    Saudi Arabia is cutting its oil output and is asking other producers for restraint in production, as signs of slowing global demand for crude outweigh threats of war and worries about supply disruptions in the Middle East. That could take 300,000 to 400,000 bpd off of the market.

    A group of leading banks will for the first time include efforts to cut carbon dioxide emissions in their decision making when providing shipping company loans. International shipping accounts for 2.2% of global carbon dioxide (CO2) emissions and the U.N.’s International Maritime Organization (IMO), has a long-term goal to cut greenhouse gas emissions by 50% from 2008 levels by 2050. So 11 banks have established a framework to measure the carbon intensity of shipping finance portfolios. The banks involved in the “Poseidon Principles” initiative, which will set a common baseline to assess whether lending portfolios are in line or behind the adopted climate goals set by the IMO, represent around a fifth or $100 billion (£79.7 billion) of the total global shipping finance portfolio.

    Because of the tanker attacks in the Gulf of Oman, insurance costs have spiked. War risk premiums that owners pay each time they go to the Persian Gulf have now surged to at least $185,000 for supertankers. They rose to $50,000 after the attacks a month ago. Both owners and the companies that charter their ships paused bookings in the immediate aftermath of attacks on Jun.13 as they re-evaluated risks to oil from the Middle East in the wake of attacks on two more tankers just a month after similar incidents.

    Argentina suffered through a nationwide blackout, which even stretched into parts of Uruguay and Paraguay. The blackout started with a failure in the country´s interconnection system, known as SADI, but the root cause of the outage remained unknown and the results of a full investigation would not be available for 10 to 15 days. The blackout comes amid a deepening economic crisis in Argentina that has plunged nearly a third of the country into poverty, pushed interest rates skyward and sent the peso tumbling against the dollar, prompting mass protests throughout the country.

    We do not expect any drastic changes in bunker prices today: fluctuations in a range of plus-minus 1-3 USD may prevail.




2019 November 20

18:10 FESCO provided transportation of nuclear submarines’ blocks and tanker from Kamchatka Territory to decommissioning site in Primorye
17:48 Cruise ship Mustay Karim returns from successful sea trials
17:06 ECOsubsea gets permission to start offering hull cleaning services to vessels at all Dutch Ports
16:56 Tallinn Shipyard wins prestigious 2019 Safety4sea Europort Awards
16:19 Wärtsilä solutions chosen to upgrade efficiency and environmental performance of Norwegian fishing vessel
16:03 Oboronlogistics completed the delivery of inert materials and special equipment to the Novaya Zemlya
15:00 ESPO: TEN-T policy review must bring maritime links on equal footing with land links
14:09 RF Govt Transport Commission approved inclusion of 57 projects into comprehensive plan for upgrading and expanding core infrastructure
13:35 Ecosystem-based management and maritime spatial planning are furthered at HELCOM-VASAB meeting in St Petersburg
12:57 RS takes part in Transport of Russia 2019
12:02 The world’s largest wind turbine tested on Maasvlakte
11:44 WMU signs MoU with International Maritime Academy, Lebanon
11:23 Tariffs for LNG services provided by KN approved for 2020
11:02 Bureau Veritas certifies Ørsted's Borkum Riffgrund 2 offshore wind farm
10:28 Hydraulic engineering structures of Volga-Don Canal underwent reconstruction
10:25 MABUX: Bunker market this morning, Nov 20
10:05 Bunker prices are stable at the port of Saint-Petersburg, Russia (graph)
10:02 Yang Ming to launch new Southeast Asia Services
09:46 Brent Crude futures price is down 0.11% to $60.84, Light Sweet Crude – up 0.04% to $55.37
09:41 Foreship launches Hamburg business to grow in Germany
09:29 Baltic Dry Index is down to 1,304 points
09:14 CMA CGM reviewes Low Sulphur Surcharge for RoRo Med Lines

2019 November 19

18:03 Port of Piraeus throughput reaches 5 million TEU this year
17:50 BPO joins the “More EU budget for transport” coalition
17:22 Throughput of Russia’s seaports expected to grow by 3% to 850 million tonnes in 2019
17:03 Expro awarded contract extension with INPEX, offshore Australia
16:45 Gasum expands their maritime fuel supply by new Swedegas’ facility in the port of Gothenburg
16:24 IMO helps train future leaders in maritime policy
16:03 CSV Bourbon Oceanteam 101 extends charter contract with client for works in Angola
15:03 MSC appoints Soren Toft as CEO for container shipping & logistics
14:21 Shipment of half a billionth tonne of coal from Vostochny Port kicked off by Sergey Ivanov and Yevgeny Ditrikh
14:02 ICTSI proposal to develop Iloilo ports complete
13:23 Med Marine orders MAN 175D for Svitzer ice-breaking tugs
13:00 Havyard Ship Technology AS announces new general manager
12:38 Bunker prices are stable at the Far East ports of Russia (graph)
12:02 ABP’s Port of Ipswich welcomes floating storytelling museum
11:44 Registration for the 16th International Transport Forum YugTrans 2020 is open
11:37 Port of Southampton investing in quayside to continue welcoming largest ships
10:59 Navigation season of 2019 closed in Baikal-Angara Basin of Russia’s IWW
10:31 EEC postponed consideration of amendments into Technical Regulation of the Customs Union in the part of sulphur content in bunker
10:05 Ports of Los Angeles and Copenhagen Malmö sign collaborative agreement on sustainability, environment
10:03 Multipurpose Reloading Complex spent over RUB 1 million under its social programme in 9M’19
09:40 Brent Crude futures price is down 0.14% to $62.35, Light Sweet Crude – down 0.21% to $57.02
09:25 Baltic Dry Index is down to 1,338 points
09:22 MABUX: Bunker market this morning, Nov 19
09:08 Nexans secures a 5-year contract extension with Chantiers de l’Atlantique to supply cables and services
08:12 Shell Marine secures contract for Cosco Shipping Specialized Carriers

2019 November 18

18:30 CMA CGM announces FAK rates from North Europe to ISC
18:07 2020 Bulkers extends time charters for Bulk Santiago and Bulk Seoul
17:54 Rosmorport supports 3rd Hydraulic Engineering Structures and Dredging Congress as its General Sponsor
17:35 Columbia Threadneedle Investments and Brittany Ferries reach agreement to acquire Condor Ferries from Macquarie Infrastructure and Real Assets
17:21 Moscow, Saint-Petersburg and Murmansk to host PORA discussion “Development of Water Transport Infrastructure in the Arctic” on Nov'26
17:05 ​Shearwater GeoServices awarded largest-ever 4D campaign in the Asia Pacific region by Woodside
16:35 HYUNDAI Merchant Marine joins “Getting to Zero Coalition”
16:20 Gazprom Neft reports 4.1-pct growth of bunker fuel production to 2.04 million tonnes in 9M’19
16:05 Essar Ports completes work on the Hazira-based Passenger Ferry Terminal
15:41 Epic Gas completes acquisition of 11,000 CBM Epic Sicily
15:37 Gazprom Neft increases net profit by 7% in 9M 2019
15:02 Port of Gdynia prepares to develop acquired land at Węgierskie Quay
14:39 Training for African women working in SAR operations held at Maritime Rescue Coordination Centre in Morocco