• 2019 September 12 08:51

    MABUX: Bunker Market this morning, Sept 12

    The Bunker Review was contributed by Marine Bunker Exchange (MABUX)

    MABUX World Bunker Index (consists of a range of prices for 380 HSFO, 180 HSFO and MGO (Gasoil) in the main world hubs) demonstrated irregular changes on Sep. 11

    380 HSFO - USD/MT 392.65 (-1.31)
    180 HSFO - USD/MT 433.89 (-1.55)
    MGO - USD/MT 662.93 (+3.35)


    Meantime, world oil indexes demonstrated downward evolution on growing speculation that U.S. sanctions against Iran may be dropped.

    Brent for November settlement decreased by $1.57 to $60.81 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for October delivery fell by $1.65 to $55.75 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of 5.06 to WTI. Gasoil for September delivery decreased by 11.25.

    Today indexes rise amid moves to ease trade tensions between Washington and Beijing and a drop in U.S. crude inventories to the lowest in nearly a year.

    China announced its first batch of tariff exemptions for 16 types of U.S. products. The exemptions will apply to U.S. goods including some anti-cancer drugs and lubricants, as well as the animal feed ingredients whey and fish meal. U.S. President Donald Trump said in a tweet that he will be postponing the imposition of 5% extra tariffs on Chinese goods by two weeks “as a gesture of good will”. He also said that China had made a good step ahead of a planned meeting aimed at defusing a trade war between the world's two largest economies. Deputy trade negotiators for both countries are expected to meet in Washington in mid-September, but no firm date has been released.

    U.S. oil stockpiles fell more than expected last week. According to The Energy Information Administration (EIA) oil inventories fell by 6.9 million compared to forecast   drawdown of about 2.7 million. The EIA, meanwhile, reported U.S. crude exports at a blistering pace of 3.3 million bpd for last week. U.S. crude stocks have fallen nearly 22 million barrels in a span of just three weeks, with the draws coming unusually at the tail end of summer, when driving activity in the U.S. is typically on the decline. U.S. crude production remained at 12.4 million barrels last week, the same as the week before, the EIA said.

    OPEC, which accounts for about 40% of world oil supply, can again be faced with a global glut like a few years ago. Indeed, the cartel’s monthly report highlighted the need for production cuts to prevent more oversupplies.

    In a monthly report, OPEC said oil demand worldwide would expand by 1.08 million barrels per day in 2020, 60,000 bpd less than previously estimated, and indicated the market would be in surplus. That pushed oil indexes down. OPEC, in the report, also lowered its forecast for world economic growth in 2020 to 3.1% from 3.2% and said next year’s increase in oil demand would be outpaced by strong growth in supply from rival producers such as the United States.

    Oil prices were driven lower by the sacking on Tuesday of U.S. National Security Advisor John Bolton by President Donald Trump. Bolton’s ouster could pave the way for negotiations between Washington and Tehran on a new nuclear deal for the Islamic Republic that may eventually see U.S. sanctions on Iranian oil being removed. Should there be no more embargoes on Iranian oil, an additional 1 million barrels from Tehran could end up in the market -- not exactly something that OPEC would welcome. Bolton had practically blocked all attempts of diplomacy between the Trump administration and Tehran while in office.

    Bunker prices are expected to demonstrate downward changes today: about 5-7 USD down for IFO, about 8-11 USD down for MGO.




2019 September 23

11:50 Workshop in Kenya focused on reducing marine plastic from ships
11:36 Abu Dhabi Ports’ container volume up 82.4% in the first half of 2019
11:29 Regional workshop in Saudi Arabia focused on clean shipping in Red Sea, Gulf of Aden and Gulf
11:04 Vympel Shipyard launches fourth Grachonok-class special purpose boat for Federal National Guard Troops Service
10:26 Brent Crude futures price is up 1.1% to $64.99, Light Sweet Crude – up 1.1% to $58.73
10:08 CMA CGM announces FAK rates from Asia to Red Sea
09:47 Container throughput of port Hong Kong (China) down 7.4% to 12.18 million TEUs in Jan-Aug’2019
09:25 Baltic Dry Index is down to 2,131 points
09:08 DNV GL awards AIPs to DSME for ethylene carrier cargo tank designs
08:49 MABUX: Bunker Market this morning, Sep. 23
08:06 Damen completes maintenance work on Innovation at Damen Verolme Rotterdam

2019 September 22

17:03 Höegh increases its frequency to Australia
16:21 USCG Cutter Seneca offloads more than 12,000 pounds of cocaine in Miami
15:16 Algoma announces agreement to acquire Croatian-built dry-bulk carrier
13:03 Van Oord: Second Sand Motor successfully completed
12:47 Ørsted to pioneer deployment of GE’s next generation offshore wind turbine
11:39 ZPMC orders compressors to pipelay vessel

2019 September 21

16:17 USCG responds to breakaway barges striking I-10 San Jacinto River bridge
15:14 Eastern Shipbuilding launches the C.D WHITE for E.N. Bisso & Son
14:06 Boskalis associate Smit Lamnalco signs first 10-year terminal services contract in Mozambique
12:52 Kongsberg wins first full-scope expedition cruise vessel tender, with gensets and propulsion equipment
11:34 Rauma Shipyard bags Finnish Navy's four corvettes order

2019 September 20

18:41 Vostochny Port joins Coordinating Council on Trans-Siberian Transportation as its permanent member
18:22 IAA PortNews offers photo release from 'Development of Icebreaking and Support Fleet' conference held on NEVA 2019 zero-day
18:05 Global Ship Lease announces new five-year $268 mln credit facility for debt refinancing
17:24 Vostochny Port’s harbour services fleet presented at dedicated conference in Saint-Petersburg
17:05 F. A. Vinnen places entire fleet with Verifavia Shipping & Rina for IHM services
16:50 Helsinki Shipyard (Finland) to build two liners for polar cruises
16:35 COSCO SHIPPING Ports announces disposal of interest in various port assets and possible disposal of Taicang Terminal and Jiangsu Petrochemical Terminal
16:21 ABB presents electric power and propulsion solutions for icebreaking vessels at NEVA 2019
16:05 Port of Los Angeles protects overall clean air gains
15:19 Port of Riga rapidly increases volume of handled wood pellets
14:53 South Korean port to slash passenger vessel emissions with ABB shore power
14:15 Krasnoye Sormovo launches Pola Pelagia, dry cargo carrier of Project RSD59З, for Pola Rise
13:30 Damen Shipyards Group is ready to ensure construction of electric water buses for rivers and canals of Saint-Petersburg and Russia
13:12 MSC Cruises and Fincantieri unveil further details of MSC Seashore at coin ceremony
12:24 Victor Olersky sees promising future of electric river passenger ships in Saint-Petersburg and in Russia
12:09 Algoma Central Corporation announces agreement to acquire Croatian-built vessel
11:28 Specifications for 0.50% sulphur fuels and the PAS from ISO: IBIA explains
11:09 GTT obtains Approval in Principle from Bureau Veritas for the Mark III Flex technology on ice-breaking LNG carriers
10:52 IBIA and S&P Global Platts collaborate to help shipping industry comply with IMO 2020
10:31 Workshop for training on emergency response, preparation and planning held in Manila
10:09 Van Oord and Shell test the use of biofuel on trailing suction hopper dredger HAM 316
09:50 State Duma ratifies Convention on the Legal Status of the Caspian Sea
09:33 Brent Crude futures price is up 0.20% to $63.73, Light Sweet Crude – up 0.98% to $58.7
09:25 Lloyd’s Register, China Merchants, GTT, CNOOC, DSIC form jv to design LNG-fuelled VLCC
09:17 Baltic Dry Index is down to 2,192 points
08:58 MABUX: Bunker Market this morning, Sept 20

2019 September 19

18:04 Bibby Marine Services takes the next step to optimize walk-to-work operations
17:56 Marinet approves Poseidon maritime cyber security project
17:37 American Ethane reveals plans to order 17 VLECs
17:34 Wärtsilä’s Board of Directors decided on the distribution of the second dividend instalment
17:22 Marinet approves T2OT project for high accuracy positioning of seagoing vessels
17:04 VARD secures advanced stern trawler contract with Luntos
16:50 Average wholesale prices for М-100 HFO down to RUB 14,328 in RF spot market
16:34 Zeebrugge port authority invests in new 1,071 meter quay wall
16:04 RINA to classify Swedish Maritime Administration fleet
15:53 Marinet set to establish exports support center in Finland in 2020
15:34 MacGregor secures orders worth more than EUR 20 million for projects in Europe and Asia
15:05 Wärtsilä foresees a lower result for 2019