• 2019 September 20 08:58

    MABUX: Bunker Market this morning, Sept 20

    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) continued downward changes on Sep. 19

    380 HSFO - USD/MT 453.82 (-9.92)
    180 HSFO - USD/MT 488.58 (-10.48)
    MGO - USD/MT 680.46 (-5.54)


    Meantime, world oil indexes demonstrated upward changes on Sept.19 as Saudi Arabia tapped Iraq and others to ensure there’s no default in its fuel delivery to customers. That came just days after the kingdom declared little fallout from an attack on its energy infrastructure.

    Brent for November settlement increased by $0.80 to $64.40 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for November delivery rose by $0.02 to $58.19 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of 6.27 to WTI. Gasoil for October delivery increased by 4.75.

    Today indexes continue to rise after a Saudi-led coalition launched a military operation north of Yemen's port city of Hodeidah, as the United States worked with Middle East and European nations to build a coalition to deter Iranian threats after the Saudi attack.

    Saudi Arabia would not be stretched in meeting customer obligations, particularly after it said half of the production lost from the weekend attacks had been restored and the balance would be back by November.

    Saudi Arabia's ability to avert a global oil supply crunch will only become clear in a few weeks, because for now its crude held in storage can fill the gap and mask the scale of damage to its facilities, traders and analysts say. At the same time the Saudi state-owned Aramco Trading Co purchased diesel cargoes and also sought one-off supplies of aviation fuel this week. Moreover, Saudi Arabia asked Iraq for 20 million barrels of crude to supply domestic refineries, adding to doubts over whether the Kingdom will be able to return to full output this month following weekend attacks on key oil facilities.

    Earlier this week Saudi said production will be back to normal levels in two to three weeks, which means restoring output to about 10 million barrels per day. But many are skeptical, while the lack of transparency about Saudi inventories adds to uncertainty about whether Riyadh can keep markets supplied without disruption.


    The attacks knocked out over half of active Saudi crude production and severely limited the country's spare capacity, a cushion for oil markets in any unplanned outage. U.S. Secretary of State Mike Pompeo and officials in Riyadh said evidence showed the weapons used were fired from southwest Iran instead and blamed Iran in the attack.

    Iranian Foreign Minister Javad Zarif said Pompeo’s remarks may be aimed at deceiving President Donald Trump into going to war against Tehran. Trump has already said he had no wish to engage in a military battle with Iran. President’s remarks were interpreted as meaning that the United States would support Saudi Arabia with intelligence, targeting information and surveillance capabilities to strike back at Iran, though the U.S. itself would not fire any weapon. Trump has said there were many options short of war with Iran and has ordered the U.S. Treasury to "substantially increase sanctions" on Tehran. Zarif said that the Iranian response to a U.S. or Saudi military strike on the Islamic Republic would be "all-out war".

    Meanwhile, weekly report from the Energy Information Administration on U.S. oil inventories showed, that crude stockpiles rose by 1.1 million barrels last week against expectations for a drop of 2.5 million barrels. However, stocks at Cushing, Oklahoma, the delivery point for benchmark futures, fell to their lowest since October 2018.

    In the United States torrential rain from Tropical Storm Imelda has forced a major refinery to cut production and shut a key oil pipeline, terminals and a ship channel in Texas.
    Global markets are also keeping an eye on U.S.-China trade negotiations in Washington, as officials from both sides resumed face-to-face talks for the first time in nearly two months on Sept.19-20. The negotiations are aimed at laying the groundwork for high-level talks in early October that will determine whether the two countries are working toward a solution or headed for new and higher tariffs on each other's goods.

    We expect bunker prices to demonstrate upward changes today: about 3-5 USD up for IFO, about 4-6 USD up for MGO.




2019 October 16

18:37 Damen partners with TCS for increased vessel connectivity
18:07 AET christens two of the world's first LNG dual-fuel DPSTs to be chartered out to Norway's Equinor
17:35 PSA Marine signs frame agreement with Hydroniq Coolers
17:22 MODEC awarded Letter of Intent by Petrobras related to Marlim 1 FPSO
16:57 Throughput of port Kaliningrad in Jan-Sep’2019 fell by 21% Y-o-Y to 8.45 million tonnes
16:22 Throughput of port Vysotsk in Jan-Sep'2019 climbed by 4% Y-o-Y to 14.27 million tonnes
16:22 IBM boards the Mayflower Autonomous Ship project
15:58 Patrol ship of RF Navy’s Black Sea Fleet to take part in events dedicated to anniversary of Navarino battle
15:35 Navios Maritime Partners announces repayment of its Term Loan B
15:19 Throughput of port Primorsk in Jan-Sep’2019 grew by 18% Y-o-Y to 46.93 million tonnes
14:53 Port of Ust-Luga handled 77.49 million tonnes in 9M’19, up 7% Y-o-Y
14:34 NEPTUN WERFT holds keel laying ceremony for AIDAcosma
14:06 Throughput of Port St. Petersburg in Jan-Sep'2019 grew by 2% Y-o-Y to 44.97 million tonnes
13:45 Zvezda shipyard lays down fourth Aframax tanker for Rosnefteflot
13:20 Carnival Cruise Line to add fourth ship in Galveston
12:12 Hapag-Lloyd to apply a Peak Season Surcharge from North Europe to East Asia
11:51 WMU and AHHIC cooperate on marine insurance
11:33 Gazprom Neft establishes a Singapore subsidiary company to develop its international marine lubricants business
11:20 Intensive training on port management and efficiency held in France
10:57 IMO visited United Kingdom to assess country's implementation of special maritime security measures
10:14 LUKOIL enters Ghasha project for extraction of hydrocarbons in UAE
10:01 MPA of Singapore to strengthen collaboration on cyber resilience and response at the 5th Port Authorities Roundtable
09:59 APM Terminals Gothenburg to double rail volumes by 2022
09:52 Brent Crude futures price is up 0.19% to $58.85, Light Sweet Crude – up 0.13% to $52.88
09:36 Baltic Dry Index is down to 1,898 points
09:18 Bunker prices are flat at the port of Saint-Petersburg, Russia (graph)
08:43 Award-winning yachts honored at Cannes - Azimut, Benetti, and Galeon
08:35 MABUX: Bunker Market this morning, Oct 16

2019 October 15

18:37 MOL conducts tabletop drill based on an incident simulation involving containership
18:07 Fincantieri announces delivery of the fourth Royal Princess class ship at the Monfalcone shipyard
17:55 Tatarstan and Gazprom sign action plan for implementation of pilot project on using LNG powered ships
17:36 Keppel delivers fourth jackup rig to Borr Drilling
17:06 Maritime and Port Authority of Singapore revokes Inter-Pacific Petroleum Pte Ltd’s bunker craft operator licence
16:49 Hudson Shipping Lines joins the Trident Alliance as a member
16:26 PGNiG: a new oil and gas discovery in the Norwegian Sea
15:32 Port of Kiel announces conclusion of cruise season with turnover of cruise passengers having grown by 33.6% YoY
15:04 TechnipFMC awarded subsea contract for PetroVietnam Gas’ Nam Con Son 2 Phase 2 Gas pipeline development in Vietnam
14:35 Deltamarin provides RMC with design services for the Tallink ferry project
14:31 Port of HaminaKotka and Steveco jointly constructed pulp terminal in Kotka’s Mussalo Harbour
13:57 Shore power to improve air quality and reduce noise in Port and City of Tallinn
13:20 “Wind Barriers at the Freeport of Riga” project receives Annual Riga Architecture Award
12:54 Krasnoye Sormovo delivers Pola Pelagia, yet another dry cargo carrier of Project RSD59
12:18 Bunker prices are flat at the Far East ports of Russia (graph)
11:55 Khabarovsk Shipyard launched pontoon dock gate for city protection against floods
11:09 Amendments to IMO's Ballast Water Management Convention enter into force on 13 October 2019
10:56 Trade Port Posiet handled 4.4 million tonnes of cargo in 9M’2019, up 4% YoY
10:37 World Maritime University delivered its Maritime Business Integrity and Corruption Awareness Seminar
10:09 Hapag-Lloyd announces rates from East Asia to North Europe and Mediterranean
09:38 Brent Crude futures price is down 0.76% to $58.9, Light Sweet Crude – down 0.67% to $53.23
09:32 MABUX: Bunker market this morning, Oct 15
09:22 Baltic Dry Index is down to 1,916 points
09:14 Jan De Nul helps to boost Mauritania’s iron ore export
08:59 CMA CGM announces FAK rates from Asia to North Africa

2019 October 14

18:06 Neptune Energy acquires North Sea assets from Energean
17:57 Rosatom set to have its plan for development of NSR infrastructure till 2035 to be approved by RF Gov't before year end
17:35 2020 Bulkers enters into a time charter agreement for Bulk Shanghai
17:21 Bronka port to handle cargo of up to 500 tonnes
17:05 CMA CGM announces FAK rates from Asia to the Mediterranean
16:50 Names given to first two super trawlers of Russian Fishery Company
16:35 Sasol invests in first South African-owned chemical tanker through Nduna Maritime