• 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 July 22

18:06 Dorset’s Intermarine UK lands steel fabrication deal to increase capacity at Portland Port
17:58 Port of Zeebrugge volumes grow by 12.5 % in first semester of 2019
17:48 MS VASCO DA GAMA welcomed at Ostseekai for maiden call
17:19 Port of Kiel welcomed cruise ship “Marella Explorer”
16:55 ‘A British first’ cruise call for Port of Southampton
16:29 Damen to prepare Stad Amsterdam for ‘green ambassador’ role
15:47 Akademik Pashin tanker arrived at the port of Murmansk
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