• 2019 October 16 08:35

    MABUX: Bunker Market this morning, Oct 16

    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 downward  changes on Oct.15

    380 HSFO - USD/MT 372.92 (-11.88)
    180 HSFO - USD/MT 412.65 (-10.46)
    MGO - USD/MT 657.74 (-7.30)


    Meantime, world oil indexes also demonstrated irregular changes on Oct.15 amid concerns about the positive result of U.S.-China trade talks and OPEC’s hope to balance markets beyond 2020 in a sign of possible further supply curbs.

    Brent for December settlement decreased by $0.61 to $58.74 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for November delivery fell by $0.78 to $52.81 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $5.93 to WTI. Gasoil for November delivery increased by $4.25.

    Today indexes rise on hopes on a potential Brexit deal between Britain and the European Union and on signals from OPEC and its allies that further supply curbs could be possible.

    Last talks between Britain and the European Union to get a Brexit deal ahead of a summit of the bloc's leaders this week ran past midnight to Oct.16, but it was still unclear if Britain could avoid postponing its departure, due on Oct. 31. It is expected any deal that avoids a "hard" or no-deal Brexit should boost economic growth and in turn oil growth and prices.

    Providing more support, OPEC Secretary-General Mohammad Barkindo said the Organization of the Petroleum Exporting Countries "will do whatever (is) in its power" along with its allied producers to sustain oil market stability beyond 2020.

    Oil indexes are under the pressure because of the doubts emerged over the trade agreement touted by President Donald Trump at the end of last week due to a lack of detail and after reports China wanted further talks before completing the agreement. Some said upside on trade optimism may be limited barring further movement on U.S.-China import tariffs which have been blamed for slowing global economic growth and lowering oil demand.

    Data on Oct.15 showed that German investor sentiment worsened again in October amid concern that Europe's biggest economy is headed for a recession. Meanwhile, a report overnight showed that China's factory gate prices declined at the fastest pace in more than three years in September. That came after customs data on Oct.14 showing that Chinese imports contracted for a fifth straight month in September. The weak data added to worries over the global economic fallout from the protracted Sino-U.S. trade war, despite claims of progress toward a deal, and added to doubts over the future outlook for oil demand.

    Russia and Saudi Arabia signed new cooperation agreements covering oil services and petrochemicals, on the sidelines of Russian President Vladimir Putin’s state visit to Saudi Arabia on Oct.14. Cooperation between the two countries has increased in recent years, with bilateral energy agreements emerging alongside the establishment of the OPEC/non-OPEC crude production agreement.

    Iran will not leave the last Friday attack on the Sabiti tanker unpunished, President Hassan Rouhani said during his media conference. The Iranian President also said government officials had seen footage of the attack and it suggested several rockets had been launched at the vessel. Rouhani did not say who Tehran believed the culprit was but did note that it looked like the party behind the attack was a government rather than a terrorist group. Iranian tanker Sabiti was attacked on Friday, off the Saudi coast near the port of Jeddah. Initial reports in the Iranian media blamed the attack on Saudi Arabia, but later the National Iranian Tanker Company, which confirmed the attack, said there was no evidence pointing towards any one particular country. Saudi Arabia was quick to deny any blame.

    On Oct.14 U.S. President Trump imposed sanctions on Turkey and demanded the NATO ally stop a military incursion in northeast Syria that is rapidly reshaping the battlefield of the world's deadliest ongoing war. Prices could also get a boost this week as investors are expecting a drawdown in crude inventories in the United States.

    We expect bunker prices to demonstrate irregular changes today: 3-5 USD up for IFO, 2-4 USD down for MGO.




2019 November 16

16:42 Team Tankers International Ltd. announces Q3 2019 results
15:02 GasLog places NOK 900M of senior unsecured bonds due 2024
14:23 BTG and GoodFuels preparing for major investment in bio-refinery to support shipping’s low carbon fuels demands
13:41 Third L-class delivered in China
12:32 Seaspan to purchase a fleet of six containerships on long-term charter for $380 million
11:28 Mammoet inks agreement with Port of Coeymans Marine Terminal to strengthen presence along East Coast
10:18 Metal Sharks delivers pilot boat duo to BCMT

2019 November 15

18:09 Coast Guard medevacs cruise ship Aida Perla passenger just off Ponce, Puerto Rico
17:48 Sovcomflot reports its results for third quarter and nine months of 2019
17:23 Wärtsilä and PSA Marine collaborate to achieve clean energy shipping
17:15 Bollinger Shipyards contracted to build ocean transport barge
17:00 Composit supports 7th International Forum of Dredging Companies as its Sponsor
16:57 Ulstein unveils its concept of the first hydrogen powered offshore vessel
16:36 RF Government separates positions of Deputy Transport Minister and head of Rosmorrechflot
16:14 IMO holds training on impacts of anti-fouling systems and ships’ biofouling on marine environment
15:39 Norway boosts IMO's GreenVoyage-2050 GHG project
15:11 New Wärtsilä Expertise Centre provides value-adding lifecycle support
14:57 LUKOIL commissions phase three facilities at Filanovsky field
14:30 NSR cargo traffic totaled 26 million tonnes year-to-date, up 63.5% YoY
14:13 Georgia Ports Authority up 3.5 percent to 428,400 TEU in October 2019
13:13 Diana Shipping announces direct continuation of time charter contract for m/v Medusa with Cargill
12:51 Multipurpose Reloading Complex reports 4-fold increase of allocations for environment protection to RUB 11.5 million
12:32 ABI Research: Commercial fleets looking to tech to accelerate ROI in the face of rising costs, competition, and uncertainty
12:13 Port of Oakland names Danny Wan Executive Director
11:28 ESL Shipping participates in Intelligence Hunt
11:00 CMA CGM to apply GRI from Canada West Coast to worldwide destinations (Excluding EU, Russia & USA)
10:41 Delft Dynamics, Next Ocean and Damen perform qualification test in North Sea
10:40 Gremyashii corvette of RF Navy’s Nothern Fleet to be tested in White Sea
10:16 Training ship Perekop of RF Navy's Baltic Fleet arrives in Republic of Myanmar
09:54 Bunker prices go down at the port of Saint-Petersburg, Russia (graph)
09:39 MABUX: Bunker market this morning, Nov 15
09:32 Brent Crude futures price is up 0.45% to $62.56, Light Sweet Crude – up 0.51% to $57.06
09:13 Baltic Dry Index is up to 1,364 points

2019 November 14

18:19 French Prime Minister Edouard Philippe inaugurates CEVA Logistics’ new headquarters in Marseille
18:00 Boosting handling of cargo bound for Arctic considered as strategic development vector of Murmansk Commercial Seaport
17:41 Port of Liepaja (Latvia) handled 5.92 million tonnes of cargo in 10M'2019, down 5.1% Y-o-Y
17:20 Gasunie, EBN, Port of Amsterdam and Tata Steel work together on the development of a CCUS project in the North Sea Canal area
16:49 Hung Hua Construction of Taiwan orders third Fast Crew Supplier this year to support offshore wind ambitions
16:36 Main engines loaded onto second serial ship of PV22 project at Nevsky Shipyard
16:15 Hapag-Lloyd announces rates from East Asia to North Europe and Mediterranean
15:59 Yevgeny Savkin appointed as General Director of Novyie Kommunalnyie Tehnologii in Ust-Luga port
15:15 The ICS and ECSA call for immediate and effective intervention after yet another attack in the Gulf of Guinea
15:12 Restoration of 90 year old Amsterdam bridge by Niron Staal
14:43 Expert forecasts scrubbers to consume some 600,000 barrels of heavy fuel per day in 2020
14:14 Norway boosts IMO's GreenVoyage-2050 GHG project
13:32 Sea Port of Saint-Petersburg invested RUB 630 million in development in 9M’19, up 53% YoY
13:11 MOL earns AIP for design of bow wind-shield, ultra-large containership
12:30 Bunker prices are flat at the Far East ports of Russia (graph)
12:04 CMA CGM announces FAK rates from Asia to the Middle East Gulf
11:23 Aleksey Rykovanov appointed as General Director of Murmansk Commercial Seaport
11:01 Arista Shipping starts the path to smart shipping operations with an ocean data agreement with ABS
10:39 RF Government supports expansion of Murmansk Transport Hub capacity to 65 million tonnes by 2035
10:16 MABUX: Bunker market this morning, Nov 14
10:02 WesCom Signal and Rescue goes green at METSTRADE 2019
09:38 Three new Damen FCS Patrol vessels for SR Platforms achieve major milestones in a single week
09:33 Brent Crude futures price is up 0.58% to $62.73, Light Sweet Crude – up 0.72% to $57.53
09:19 Baltic Dry Index is up to 1,365 points

2019 November 13

18:07 LR and Seabury Maritime partner to tackle OPEX and CAPEX challenges
17:55 Gasum acquires AGA’s Clean Energy business and Nauticor’s Marine Bunkering business from Linde AG
17:36 Rolls-Royce and luxury yacht manufacturer Sunseeker sign frame agreement for MTU engines