• 2019 July 22 09:32

    MABUX: Bunker market this morning, July 22

    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 19:

    380 HSFO – USD/MT – 421.20 (-6.22)
    180 HSFO – USD/MT – 457.96 (-4.50)
    MGO – USD/MT – 653.69 (-5.18)


    Meantime, world oil indexes turned into slight upward trend on Jul.19 supported by rising tensions between the United States and Iran.

    Brent for September settlement increased by $0.54 to $62.47 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for September delivery rose by $0.34 to $55.76 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $6.84 to WTI. Gasoil for August added $7.00.

    Today morning oil indexes continue moderate upward movement.

    Iran’s ambassador to Britain warned against escalating tensions on Jul.21 as a UK official declined to rule out sanctions in response to Tehran’s seizure of a British-flagged oil tanker. Britain has called Iran’s capture of the Stena Impero in the Strait of Hormuz on Jul.19 a “hostile act”. Tehran’s action followed the July 4 capture by Royal Marines of the Grace 1 tanker carrying Iranian oil near Gibraltar. Iran has repeatedly threatened to close the Strait of Hormuz if it cannot export its oil because of the sanctions but cannot legally do so as part of the waterway is in Oman’s territorial waters. Oman has urged Iran to release the tanker and called on all parties to exercise restraint and resolve differences diplomatically.

    The International Energy Agency (IEA) doesn't expect oil prices to rise significantly because demand is slowing and there is a glut in global crude markets. The IEA is revising its 2019 global oil demand growth forecast down to 1.1 million barrels per day (bpd) and may cut it again if the global economy and especially China shows further weakness. Last year, the IEA predicted that 2019 oil demand would grow by 1.5 million bpd. But in June this year it cut the growth forecast to 1.2 million bpd. IEA noted that substantial amount of oil is coming from the United States, about 1.8 million barrels per day, plus oil from Iraq, Brazil and Libya

    China’s crude throughput totaled around 316.97 million mt in the first half of 2019, up by 5.8% year on year. In June alone, China processed about 53.70 million mt of crude, up by 7.7% year on year, and the growth rate climbed by 4.9 percentage points from the previous month. The country’s crude imports totaled around 39.58 million mt in June, up by 15.2% year on year. China imported about 245 million mt of crude in January-June 2019, up by 8.8% year on year, and the growth rate was 0.6 percentage points higher than that in the first quarter.

    The P&I Club said that to achieve compliance with the sulphur cap, simply switching to a low sulphur fuel at January 2020 will not be enough. With the majority of vessels expected to opt for very low sulphur fuel oils (VLSFO) or marine gasoil (MGO) to comply with the 0.50% sulphur directive, Standard Club has reminded members that high sulphur fuel oils (HSFO) tend to stick to the inside of fuel tanks and pipelines forming layers of sludge and sediments. It may contaminate the new fuel loaded, rendering the fuel non-compliant and pushing emissions above the 0.50% sulphur cap. Standard Club is advising members intending to use low sulphur fuel oil to start preparatory and precautionary steps several months ahead of the regulatory enforcement date.

    ING suggests that compliant fuel availability may not be too much of an issue as the industry moves into 2020. Looking at the use of scrubbers as a 2020 compliance option, ING acknowledges that issues such as the imposition of open loop scrubber bans by some global ports could act as a brake on uptake.  However, the spread between gasoil and HSFO does provide a price incentive for owners to go down the scrubber route. ING notes that there are already signs that the impending IMO regulation is beginning to have an impact on the industry. Higher sales volume of marine gasoil at the world’s largest bunkering hub of Singapore is one indicator of a shift in fuel procurement. Vessels will begin the transition towards compliant fuels over the course of Q4 2019.

    U.S. drillers cut five oil rigs in the week to July 19, bringing the total count down to 779, the lowest since February 2018. The news rendered some momentum support to fuel prices as well.

    We expect bunker prices may demonstrate today slight upward trend in a range of plus USD 3-7.




2019 August 18

16:51 USCG responds to ferry aground in Boston Harbor
15:09 NOAA awards $2.7 million in grants for marine debris removal and research
13:02 BAE Systems cuts steel for UK Royal Navy's HMS Cardiff
12:46 Kongsberg Digital simulation and software selected to fast-track R&D at new autonomous ship centre in Korea
11:05 NYK sponsors endangered Sea Turtle Research
10:56 Coast Guard cites passenger vessel for operating illegally, terminates voyage

2019 August 17

14:24 Kinder Morgan announces additional projects to enhance capabilities at Houston Ship Channel Facilities
13:31 Damen Shipyards Cape Town joins Women’s International Shipping & Trading Association
12:28 CMA CGM announces rate restoration for Asia to West Africa trade
11:32 APL informs on voil sailing on Asia-Indian Subcontinent Service in August
10:58 Pre-commissioned USCG's Cutter Midgett makes second cocaine seizure within five days

2019 August 16

18:16 Port of Vyborg volumes in Jan-Jul plummet 29% to 687,700 tons
18:06 Hapag-Lloyd announces rates from East Asia to North Europe and Mediterranean
17:36 Norwegian Encore leaves MEYER WERFT's building dock
17:06 Balltec secures North Sea decommissioning contract from Heerema Marine Contractors Nederland
16:35 Canada Infrastructure Bank signs MoU with the Port of Montreal on Contrecoeur port expansion project
16:05 Vår Energi AS awarded an EPCI contract to Rosenberg Worley AS
16:03 Low-sulphur marine fuel sales by Gazprom Neft in the first half of the year increased by 11% to 121,400 tonnes
15:48 Samsung Heavy to advance smart ship technology in cooperation with equipment producers
15:36 Throughout of oil port Primorsk in Jan-Jul 2019 increased 14% to 35.74 million tonnes
15:14 New mid-year record for container volumes through the Port of Vancouver
15:11 USCG repatriates 25 migrants to the Dominican Republic
14:27 Port of Vysotsk throughput in January-July rose 7% to 11.14 million tonnes
14:10 Austal signs A$126 mln contract to export two Cape Class Patrol Boats
13:14 Seven-month cargo volumes of Port of Ust-Luga increase 10% to 62 million tonnes (update)
13:05 NORDEN signs multiple long-term global contracts
12:05 APM Terminals Poti to implement uninterrupted 24/7 operations
11:39 Port of St. Petersburg seven-month volumes rise 2% to 35 million tonnes (update)
11:05 Steel cutting ceremony for the next AIDA LNG cruise ship at MEYER WERFT
10:48 Tekmar Energy selected for Formosa 1 Phase 2
10:44 Port of Hamburg seaborne cargo throughput up 4.1 percent to 69.4 million tons in H1 2019
09:55 Crude futures prices tend upward again: Brent Crude rises to $ 58,88, WTI – to $ 55,16
09:34 Baltic Dry Index leaps 97pts to 2047 points
09:27 Bunker prices show mixed movements at Port of St. Petersburg
08:41 MABUX: Bunker market this morning, Aug 16

2019 August 15

18:48 Seven-month box throughput of Ukraine’s seaports leaps 20% to 545.800 TEUs
18:05 Huntington Ingalls Industries announces leadership changes at shipyards
17:05 Scandlines installs Norsepower’s Rotor Sail solution on board hybrid ferry
16:43 Kinder Morgan announces additional projects to enhance capabilities at Houston Ship Channel facilities
16:35 Kalmar service expertise to enhance safety, performance and productivity at OPCSA’s Las Palmas terminal
16:33 Global Dredging Forum in London to address all current aspects of capital and maintenance dredging as expansion opportunity
16:05 Wilhelmsen Ship Management awarded two supramaxes from Stove Shipping AS
15:47 Neste introduces a new IMO2020-compliant low-sulphur marine fuel
15:43 Stena Bulk's CEO appeals directly to the Leaders of India, Russia, Latvia & the Philippines
14:33 Rotterdam Polymer Hub construction starts
14:20 A.P. Moller - Maersk reports strong improvements in earnings in Q2
14:01 Tuapse Sea Commercial Port JSC 1H net profit drops 3.3 times to RUB 1bn
13:52 Port of Oslo speaker to join Int'l Baltic Transport Forum, Sept. 11
13:05 RS supports PortNews сonference on icebreaking and service fleet, to be held prior to NEVA-2019 trade fair
13:02 CMA CGM announces FAK rates from Asia to North Africa
12:06 LUGAPORT terminal construction kicks off at Port of Ust-Luga
12:03 MOL transports fire engines to Paraguay
11:03 Jan De Nul bags 600MW Kriegers Flak contract
10:17 CMA CGM announces FAK rates from Asia to the Mediterranean
10:01 Crude futures prices continue to decline: Brent Crude – to $ 59,09, WTI – to $ 54,92
09:57 Latest frigate Admiral Kasatonov enters shipbuilder’s trials final phase
09:12 Baltic Dry Index leaps by 4.61% to hit 1950-pts mark
08:42 MABUX: Bunker market this morning, Aug 15

2019 August 14

23:00 Sergey Mazokhin takes helm at Nordic Engineering JSC
18:09 Icebreaker Novorossiysk escorts Silver Explorer along the Northern Sea Route