• 2019 December 23 10:11

    MABUX: Bunker market this morning, Dec 23

    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) showed slight upward trend on December 20:

    380 HSFO: USD/MT – 368.92 (+1.46)
    180 HSFO: USD/MT – 408.82 (+0.31)
    MGO: USD/MT – 692.96 (+1.52)


    Meantime, world oil indexes fell on Dec.20, but prices were set for a third straight weekly gain amid the easing of U.S.-Chinese trade tensions.

    Brent for February settlement decreased by $0.40 to $66.14 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for February lost $0.74 to $60.44 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $5.70 to WTI. Gasoil for January delivery declined by $1.00.

    Today morning global oil indexes are sliding down.

    Progress in a long-running trade dispute between the United States and China, the world's two biggest oil consumers, has boosted expectations for higher energy demand next year. China last week announced a list of import tariff exemptions for six oil and chemical products from the United States, days after the world's two largest economies announced an interim trade deal.

    Libya’s General Haftar is closing in on Tripoli, which in turn is prompting a sudden uptick in Turkish activity on behalf of the Tripoli-based government. The UN-backed Government of National Accord (GNA) is probably fighting a losing battle because the only foreign friend willing to come to its aid militarily is Turkey, while a lineup of external forces (Egypt, UAE, Russia and in a less tangible way, France) are aiding Haftar, who controls the oil, even if he does not control the oil revenues. All the indications are there for a new phase in the conflict, supporting fuel indexes.

    PetroChina, one of the largest buyers of liquefied natural gas (LNG) in the key LNG demand growth market, has offered the lowest bid in an LNG tender in Pakistan, in a sign that the Asian market continues to be oversupplied even after the winter heating season began. It’s not certain if Pakistan will award this tender, because it sometimes chooses not to buy. Still, prices were at their lowest for this time of the year, because of ample LNG supply and tepid demand growth with milder weather earlier in the heating season (Asian LNG spot prices for delivery in January were at US $5.65 per million British thermal units (MMBtu) last week). Last month, a Singaporean buyer of a U.S. cargo of LNG cancelled the loading, as both Asia and Europe are facing an LNG glut. Some other customers of U.S. LNG cargoes are also reportedly considering paying for those cargoes but not loading them.

    While IMO 2020 is one week from taking effect, countries home to around 15% of the world’s oil-refining capacity have so far failed to sign up to the pact that’s designed to slash emissions of the pollutant starting in January. And even among the nations that back the rules, some important ones have said they are not going to start with an aggressive implementation. South Africa, the point connecting the east and western hemispheres, doesn’t have the domestic laws in place to enforce the rules. The United Arab Emirates, one of the world biggest vessel-refuelling centers, intends to avoid a draconian start to enforcement. Meantime, Denmark said it will be devastating if not everyone complies. For its part, the IMO says that any country that ratified the rules made a commitment to implement them from Jan. 1.

    Several shipping associations representing the global maritime shipping industry have proposed creating a $5 billion research fund to help the industry develop technologies to slash emissions. The fund would be setup via a $2 per ton fee on fuel used by ships. The shipping industry accounts for 2.2 percent of total global CO2 emissions, and the IMO wants the industry to cut emissions by 50 percent by 2050. The fund, if it receives the backing of IMO member states, could be in place by 2023. The IMO said the proposal would be discussed by the organization’s Marine Environment Protection Committee at its next meeting at the end of March.

    The Environmental Defense Fund (EDF) has called on the shipping industry to see the IMO 2020 sulphur cap as an ‘opportunity’ to ‘get ahead on the path to decarbonisation by advancing clean and safe zero-emissions fuels’ – and urged it not to ‘deviate from this path’ by ‘chasing devices or HSFO alternatives that do more environmental harm than good’. As per EDF, the industry should not be distracted by scrubbers or LNG but instead ‘identify and implement solutions that are climate friendly from production to use, such as green ammonia or hydrogen’. The EDF also questioned the strategy of using LNG as a ‘transition fuel’.

    A rise in the U.S. oil rig count, an indicator of future supply from the world’s largest producer, also put pressure on prices. U.S. energy firms added the most oil rigs last week since February 2018, even though producers have been reducing spending on new drilling. Companies added 18 oil rigs in the week to Dec. 20, bringing the total count to 685, the most since early November.

    We expect bunker prices may decrease today slightly in a range of minus 1-3 USD.




2024 March 29

12:09 COSCO SHIPPING Ports throughput up by 4.4% YoY to 135,808,554 TEU in 2023
11:46 The "Ane Maersk" calls at the Eurogate container terminal in Hamburg for the first time on its maiden voyage from Asia to Europe
11:20 Sallaum Lines and Fujian Mawei Shipbuilding commence construction of Ocean Class vessels
10:43 Oasis Marine develops solutions for offshore hydrogen bunkering
10:03 Petrofac secures contract extension with ONEgas West in the UK market

2024 March 28

18:05 Jan De Nul, ENGIE and Equans launch a pilot project centred around the use of Vanadium Redox Flow batteries
17:35 Latvian port equipment manufacturer Bleste introduces new bulk handling ‘bucket’
17:05 Investors upgrade Navios Maritime Partners
16:25 DEME reports 22% increase in the orderbook and a record-high turnover of 3.3 billion euros in 2023
16:14 MABUX: Bunker Outlook, Week 13, 2024
15:41 AD Ports Group announced the opening of Saadiyat Marina & Ferry Terminal and Rabdan Marina
15:11 Sydney invests $11.5 million in two new operational vessels designed by Incat Crowther
14:55 China’s Jinzhao wins Peru $405m port construction contract
14:13 APM Terminals Moín handled six million TEU
13:48 ClassNK grants Innovation Endorsements for Products & Solutions to two innovative initiatives by MOL
13:37 Konecranes launches its flagship Konecranes X-series industrial crane
12:53 United European Car Carriers UECC spearheads collaboration with industry leaders to advance CNSL as a sustainable marine fuel
12:26 Ocean Network Express announces Transpacific service
11:48 Yang Ming announces 2025 Trans-Pacific service network
11:24 Fincantieri signs contract for the supply of two PPAs to Indonesia
10:42 Maersk transported more than 660,000 TEU using clean fuel in 2023
10:23 Documentation delays push industry costs to $3bn
09:48 PONANT and FARWIND Energy partner to develop green hydrogen refueling solutions

2024 March 27

18:22 Bureau Veritas awards world’s first prototype certification for SolarDuck’s floating offshore solar solution
17:58 The recently converted Allseas's shallow water pipelay barge starts preparations for its first commercial project
17:38 The Port of Rotterdam calls on the European Commission and Parliament to focus on actively promoting green energy
15:23 SEFE to become sole shareholder of WIGA
14:53 Ocean Installer secures yet another SLM contract with Equinor
14:23 Cadeler signs offshore wind turbine installation contract for the vessel Wind Scylla
13:42 Carnival Cruise Line orders 5th Excel-class cruise ship
13:11 Maersk and MSC overcharging cargo owners for EU ETS, says T&E
12:52 The Port Authority of Valencia launches the ZAL project in the Port of Valencia
12:11 Clarkson Port Services and Peak Group collaborate to deliver Port Agency services across the North Sea
11:42 Wan Hai Lines holds ship naming ceremony for new vessels
11:24 Consolidated shipping lines EBIT loss was $1.44 billion in Q4 2023: Sea-Intelligence
10:49 Seaspan Shipyards receives long-term contracts for the pre-construction work of the the Canadian Coast Guard's first six multi-mission vessels
10:14 Woodside completes sale of 10% scarborough interest

2024 March 26

18:02 COSCO Shipping Lines introduces new Americas service
17:30 Davie awarded first contract for design of icebreaker fleet under Canada’s National Shipbuilding Strategy
17:04 Sanctions complicate Arctic LNG ship sales, Hanwha Ocean says - Bloomberg
16:57 Terntank places an order for 1+1 additional wind/ methanol-ready hybrid tanker
16:28 BW LNG completes acquisition of two TFDE vessels from Stena Bulk
15:50 Hanwha Ocean develops VR-based special vehicle simulator
15:20 TotalEnergies and SINOPEC join forces to produce sustainable jet fuel at a SINOPEC's refinery
14:52 Wärtsilä Lifecycle Agreement to guarantee operational reliability of new wind farm installation vessel
14:23 Hudong-Zhonghua launches two LNG carriers
13:51 Cargo ship hits Baltimore’s Key Bridge
13:12 Final sanctioned tanker with Russian Sokol oil to reach China port - Reuters
12:42 Adani Ports acquires 95% of Odisha's Gopalpur Port from SP Group for $162 million
12:21 IHI and Yara Clean Ammonia agree to jointly assess clean ammonia business collaboration
11:41 Yara Clean Ammonia and Azane granted safety permit to build world's first low emission ammonia bunkering terminal
11:16 Wartsila and Royal Caribbean Group celebrate 15 years of collaboration on digital transformation
10:46 A global carbon tax on shipping is coming, says ABS Chairman and CEO
10:21 Eni, Fincantieri and RINA establish partnership for maritime transport decarbonization

2024 March 25

18:07 The Maritime and Port Authority of Singapore continues to investigate reports of oil spills off the port of Tuas
17:31 “K” Line, NIPPON HAKUYO and OPT Gate sign an agreement for a new fire detection system for car carriers
17:07 Greek merchant fleet recorded slight decline in January 2024
16:47 Hanwha Ocean Plans to develop green technology and naval ships
16:25 U-Ming Singapore and ITOCHU sign milestone MoU for the joint development of ammonia dual-fuel and de-carbonized vessels
15:34 Svitzer targets methanol-fuelled MAN 175DF-M engine for tug application
15:04 Wallenius Wilhelmsen signs contracts for four 9,300 CEU vessels with China Merchants Jinling Shipyard
14:40 Taiwan International Port to upgrade terminal facility at Kaohsiung
13:59 Сruise ship Carnival Freedom catches fire near Bahamas
12:59 Hanwha Ocean wins 2.4 tln-won order for 8 LNG ships
11:16 Inland Ports meet in Paris to talk about the innovation potential of inland ports
10:50 IMO agrees possible outline for maritime “net-zero framework”
10:24 Hapag-Lloyd to continue to avoid the Red Sea route
09:58 QatarEnergy enters time charter agreements with Nakilat for the operation of 25 LNG vessels

2024 March 24

16:18 Inchgreen Marine Park upgraded as part of £11m investment
15:14 A ribbon-cutting ceremony for Solent Rail Terminal Rail was held at the Port of Southampton