• 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 December 12

15:00 Throughput of port Vysotsk in Jan-Nov'2019 climbed by 6% Y-o-Y to 17.90 million tonnes
14:36 Krasnoye Sormovo shipyard launches dry cargo carrier Pola Anastasia of Project RSD59
14:12 CMA CGM announces FAK Reefer Rates from North Europe to Asia and Middle East
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