• 2019 July 19 09:50

    MABUX: Bunker market this morning, July 19

    MABUX World Bunker Index (consists of a range of prices for 380 HSFO, 180 HSFO and MGO (Gasoil) in the main world hubs) continued moderate downward evolution on July 18:

    380 HSFO - USD/MT - 427.85 (-5.32)
    180 HSFO - USD/MT - 463.04 (-4.47)
    MGO - USD/MT - 659.30 (-6.38)


    Meantime, world oil indexes also fell on Jul.18, weighed down by an expectation that crude output would rise in the Gulf of Mexico following last week’s hurricane in the region.

    Brent for September settlement decreased by $1.73 to $61.93 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for August delivery fell by $1.48 to $55.30 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $6.63 to WTI. Gasoil for August lost $14.00.

    Today morning oil indexes have turned into upward correction.

    U.S. offshore oil and gas production has continued to return to service since Hurricane Barry passed through the Gulf of Mexico last week, triggering platform evacuations and output cuts. Royal Dutch Shell, a top Gulf producer, resumed about 80% of its average daily production in the region.

    Meantime, renewed Sino-U.S. trade tensions were also cited as a headwind. U.S. President Donald Trump accused Beijing of not buying U.S. farm products as agreed and said a trade deal with China might not be concluded in the near term. The president also threatened to slap additional tariffs on Chinese goods.

    Facing vigorously enforced U.S. sanctions directed principally on oil, Iran is focussing on the less targeted strategic areas in its hydrocarbons business, notably continuing to develop its gas sector and building out its petchems and related capacity. One such area is the generation of sufficient gasoline at least to meet its own needs, as its reliance on other countries during the previous sanctions era was seen as a national humiliation. Despite the worsening sanctions environment, Iran is now not only self-sufficient for gasoline but is rolling out plans to allow it to export the product.

    Risk Intelligence has warned that the attacks against tankers off Fujairah in May and in the Gulf of Oman in June are likely to be a part of a larger plan by Iran’s government, involving strikes against targets that are somewhat linked to the United States and its Arab allies. Risk Intelligence noted that the situation has had a direct impact on the threat to shipping operations in the Persian Gulf. The Company has published a whitepaper which includes several scenarios outlining the potential impact on shipping operations in the Persian Gulf over the coming months, highlighting the need for contingency plans and relevant mitigation measures.

    Iran’s Revolutionary Guard said on Jul.18 that it seized a foreign oil tanker, which it claims was smuggling 1 million liters of fuel near the island of Larak in the Persian Gulf on Sunday. The recent Middle East conflict come amid reports of a softening rhetoric between Iran and the U.S. officials, which could push crude and fuel prices higher as new supplies hit the market if energy-export sanctions are lifted. However, market mostly expressed skepticism about a near-term Tehran-Washington resolution, with testiness between the countries providing support for energy prices.

    Russia’s oil production in the past few days has recovered to the ceiling that Moscow has pledged in the OPEC+ deal. Russia’s oil production in the first days of July averaged 10.79 million bpd, the lowest level since August 2016, when production stood at 10.71 million bpd. Despite the rise in the June production, Russia was still complying, for a second month in a row, with its pledge under the OPEC+ deal in which it vowed to reduce production by 230,000 bpd from October’s post-Soviet record level of 11.421 million bpd, to 11.191 million bpd.

    We expect bunker prices may continue downward trend today in a range of minus 8-12 USD.




2019 December 12

13:53 Bunker market sees mixed price movements at the Far East ports of Russia (graph)
13:31 NLNG signs sales deal with Vitol SA
13:12 Austal USA delivers USNS Puerto Rico to U.S. NAVY
12:49 Throughput of port Primorsk in Jan-Nov’2019 grew by 16% Y-o-Y to 56.25 million tonnes
12:24 Lead nuclear-powered icebreaker of Project 22220, Arktika, left for sea trials
12:00 ABS publishes Fuel Cell Guidance to support industry decarbonization objectives
11:38 Port of Ust-Luga handled 95.31 million tonnes in 11M’18, up 6% Y-o-Y
11:13 Throughput of Port St. Petersburg in 11M'2019 grew by 2% to 55.01 million tonnes
11:10 Verifavia Shipping undertakes IHM services for 29 Attica Group vessels
10:56 Wärtsilä to divest its ELAC Nautik business
10:49 Throughput of port Riga (Latvia) in 11M’2019 fell by 9.4% Y-o-Y to 30 million tonnes
10:26 TransContainer dispatched test train from Korea to Poland
10:05 MABUX: Bunker market this morning, Dec 12
09:47 Brent Crude futures price is up 0.41% to $63.98, Light Sweet Crude – up 0.14% to $58.84
09:31 Baltic Dry Index is down to 1,460 points
09:08 Viking Line’s new vessel to be equipped with Climeon Heat Power System
08:12 Nautilus Labs becomes new Inmarsat fleet data application provider

2019 December 11

18:33 Kongsberg and the Norwegian Society for Sea Rescue join forces to develop new SAR solutions
18:03 DOF Subsea secures integrated FSV contract in Africa
17:50 NCSP Group's consolidated cargo turnover for 10 months of 2019 totaled 121.2 million tons
17:32 Equinor completes the acquisition of a 50 % interest in the offshore wind development project Bałtyk I in Poland from Polenergia
17:25 LNG in the era of decarbonization: the 6th International LNG Congress 2020 brings up environmental questions
17:13 Port Houston sets new records at container terminals in November 2019
16:54 World's first liquefied hydrogen carrier SUISO FRONTIER launches building an international hydrogen energy supply chain aimed at carbon-free society
16:32 Seaspan Shipyards delivers its second offshore fisheries science vessel to the Canadian Coast Guard
16:13 Port of Virginia сargo volume up nearly 4% in November 2019
15:49 Throughput of port Taganrog in 11M'2019 fell by 7% to 2.59 million tonnes
15:32 Aker BP first ever to use new well stimulation method offshore
15:12 Port of Savannah container volumes up 5.4 percent in November 2019
14:51 Sovcomflot named Company of the Year at the 2019 Lloyd’s List Europe Awards
14:32 Aker Solutions secures contract to support the development of BP’s Cypre project, offshore Trinidad and Tobago
14:12 Port of Oakland export volume up 5.8 percent in November 2019
13:50 Bunker prices are flat at the port of Novorossiysk, Russia (graph)
13:32 Belships enters into two letters of intent for the acquisition of two Ultramax bulk carriers
13:11 Port of Los Angeles moves 728,918 TEUs in November 2019
12:47 Dredge Yard receives an order for a customized Cutter Suction Dredger from Western Potash
12:47 Yamal LNG received all 15 Arc7 ice-class tankers
12:25 Wärtsilä & CSSC Huangpu Wenchong Shipbuilding Company Limited agree to jointly develop hybrid vessels for the future
12:23 Admiralteiskie Verfi shipyard starts metal cutting for fourth super trawler ordered by Russian Fishery Company
12:01 ABS and DSME sign digitalization and decarbonization JDP agreement
11:31 New mobile crane increases APM Terminals Yucatán’s productivity by 40%
11:19 Throughput of Russian seaports in 11M'2019 grew by 2.7% to 766.8 million tonnes of cargo (detalization)
11:12 First LNG bunkering delivered concurrent cargo operations in port of Amsterdam
10:59 Port of Long Beach cargo volumes dip 3.5% in November 2019
10:54 Navigation season of 2019 is over on Russia’s IWW with shipping closed in Azov-Don Basin
10:30 MABUX: Bunker market this morning, Dec 11
10:18 Swedish businesses informed about benefits of Latvian transport corridor
09:51 Bunker prices show no certain trend at the port of Saint-Petersburg, Russia (graph)
09:32 Brent Crude futures price is down 0.62% to $64.93, Light Sweet Crude – down 0.52% to $58.93
09:15 Baltic Dry Index is down to 1,528 points

2019 December 10

18:10 UN Climate Conference – ICS embraces 4th Propulsion Revolution
17:56 Cargo turnover within Volga-Don Basin of Russia’s IWW in navigation season of 2019 fell by 9.7% to 14.452 million tonnes
17:34 APG and TRIG acquire 100% interest in Merkur Offshore Wind Farm
17:19 Northern Fleet cruiser Marshal Ustinov moves to Northern hemisphere
16:03 Hapag-Lloyd announces rates from East Asia to North Europe
15:52 Baltic States aim to implement Rail Baltica project in rapid and coordinated way
15:34 Damen signs contract with EMS Offshore to supply new Shoalbuster 2711
15:03 COSCO SHIPPING signs strategic cooperation agreement with State Power Investment Corporation
14:31 GTT notified by Hudong-Zhonghua Shipbuilding for the tank design of an LNG bunker vessel for MOL
14:31 London P&I Club announces senior management appointments in Hong Kong office