• 2020 January 6 10:18

    MABUX: Bunker market this morning, Jan 06

    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) increased slightly in the end of the first week 2020:

    380 HSFO: USD/MT – 382.85 (+4.43)
    VLSFO: USD/MT – 660.00 (+6.00)
    MGO: USD/MT – 714.15 (+1.38)


    Meantime, world oil indexes rose on Jan.03 amid escalating tension in the Middle East and supported by U.S. inventory report.

    Brent for March settlement rose by $2.35 to $68.60 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for February gained $1.87 to $63.05 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $5.55 to WTI. Gasoil for January delivery added $10.00.

    Today morning global oil indexes continue firm upward trend.

    Reports that a U.S. air strike killed key Iranian and Iraqi military personnel escalated Middle East tensions and raised concerns of oil supplies disruption. Tensions have been building between Washington and Tehran after an Iran-backed Iraqi militia stormed the American embassy in Baghdad to protest deadly U.S. airstrikes earlier last week. Concerns in the region have persisted over the past year as Saudi Arabia’s energy facilities as well as foreign tankers in and around the Persian Gulf have been the target of several attacks. The area has five of OPEC’s biggest oil producers. Two of them: Iran and Iraq, combined pumped more than 6.7 million barrels a day of oil last month, more than one-fifth of OPEC output. Energy exports from both countries also rely on the Strait of Hormuz, the narrow and crucial oil and natural gas shipping choke-point that’s always in focus when Middle East tensions flair, particularly with Iran.

    The U.S. Energy Information Administration reported a crude oil inventory decline for the last week of 2019. The draw totaled an impressive 11.5 million barrels. Analysts had expected a decline of 3.167 million barrels, after the EIA reported a draw of 5.5 million barrels for the week to December 20. At 429.9 million barrels, U.S. crude oil inventories are at the five-year seasonal average. Meantime, U.S. oil production had hit a record 12.66 million barrels daily in October, with weekly estimates suggesting this could have risen further in the months since October to over 13 million bpd.

    Russia has halted oil supplies to refineries in Belarus amid a contract dispute threatening large Russian oil deliveries to Western Europe. However, ta the moment Russian oil transit to Europe via Belarus was so far uninterrupted.

    Testing companies are examining new low-sulfur marine blends acquired in Antwerp, Belgium; Houston and Singapore and have found sediment at levels that could damage the engines of ocean-going vessels. The potential hazards were demonstrated already in 2018 when some ship operators were forced to pay for costly repairs after buying bunker fuel contaminated by a chemical used in epoxy. That incident affected about 200 vessels. Some 60% of the recipes for making low-sulfur fuel proposed by bunker suppliers near the top U.S. oil port of Houston failed to meet sediment specifications. Last month high sediment levels in bunker fuel samples were also found in Singapore, Antwerp and other European ports. The levels exceeded international residue standards. Mixing two or more low-sulfur bunker fuels can raise the sediment levels, producing a residue that could clog and damage an engine.

    The implementation of low sulfur bunker fuel regulations on January 1 could result in changed market structures for clean and dirty tankers in 2020 as a result of compliance choice, as sources contemplate the possible emergence of multi-tiered pricing, specialized routes, and bunker availability issues. Roughly 17% of the tanker fleet is expected to be installed with scrubbers by the end of 2021 to comply with the International Maritime Association’s 0.5% sulfur bunker fuel specifications, enabling those ships to run lower-cost high sulfur bunker fuel. Meantime, shipowners have already faced delays in finding low sulfur bunkers in Brazil and Panama, with longer voyages and later laycans requiring more forward-looking bunkering schedules. Mexico is unlikely to have low-sulfur bunkers available anytime soon, as the country has not signed onto the IMO mandate and infrastructure at the ports appears limited.

    We expect bunker prices may demonstrate today firm upward movement in a range of plus 8-11 USD.




2024 May 19

15:43 RWE, Masdar award geophysical surveys contract for DBS West offshore wind farm
14:27 Intesa Sanpaolo and Fincantieri for the energy transition of maritime and air transport
14:03 MSC Cruises to expand at Port Canaveral with the arrival of the MSC Grandiosa
13:56 Noatum launches maritime services in Türkiye
12:44 New Pipeline Transition Alliance to focus on re-purposing natural gas infrastructure to hydrogen service
11:29 Yantai CIMC Raffles Offshore Ltd. shipyard launches dual-fuel offshore installation vessel for Van Oord
11:23 Major Scottish export terminal invests £750,000 to boost refrigerated cargo capabilities
10:12 Jan De Nul orders new XL cable-laying vessel

2024 May 18

15:24 SNAM's Q1 total revenues declined 1.9% to 895 million euros
14:17 KOTUG Int'l successfully pilots Tug Drone technology
12:04 Austal USA names Mark Santamaria as CFO
11:36 Silver Ships delivers four of seven coastal fast response boats
09:51 CMA CGM posts revenue of 11.8 billion for Q1 2024

2024 May 17

18:10 Bunker fuel sales at the Middle Eastern hub of Fujairah drop on a monthly basis in April 2024
17:52 Lloyd’s Register and Shandong Marine Group sign MoU
16:43 China reveals cooperation methods to protect and restore the Yangtze River
16:03 APM Terminals Barcelona holds the commissioning of 17 Konecranes NSC 644 EHY hybrid straddle carriers
15:13 Marine fuel demand in Panama declined in April 2024
14:43 MITSUI E&S and PACECO commence commercial operations of world's first hydrogen fuel cell zero emission RTG crane at Port of Los Angeles
14:23 ILWU Canada agrees to delay serving 72-hour strike notice on employer DP World Canada
13:31 Barge hits a bridge in Texas, damaging the structure and causing an oil spill
13:10 Container shipping costs on EU-S. Korea route surge over 30 pct amid Red Sea crisis
12:43 DP World invests €130m in Romania
12:21 Astrakhan hosts Russia-Iran talks on shipping cooperation on International North-South corridor
11:41 Seatrium awarded repeat FPSO integration contract from SBM Offshore
11:04 Bureau Veritas report highlights the potential of carbon capture technologies and the development of carbon value chains for shipping
10:41 Electramar christened in Helsinki
10:07 IMO Secretary-General spotlights seafarer safety amidst ongoing Red Sea attacks and resurging piracy
09:58 MABUX: Bunker Outlook, Week 20, 2024

2024 May 16

18:11 Kongsberg and Torghatten to develop self-driving ferry service linking Trondheim and the Fosen peninsula
17:42 “K” Line сonducts first trial use of B100 biofuel for carbon-free operations on car carrier
16:35 Deltamarin and ECOLOG unveil LP LCO2 carrier design
15:40 Seadrill enters agreement to sell its Qatar jack-up fleet
15:24 Scan Global Logistics and Hapag-Lloyd enter into major biofuel agreement in a new Green Collaboration
14:48 Edison Chouest feeder fleet for U.S. offshore wind market to be built to ABS Class
14:03 The Australian Government announces a funding package of $7.1 billion for budgeted programs to be administered by ARENA
13:54 The share of the idle container vessel fleet was 0.9% in April - Sea-Intelligence
13:25 The European Commission grants PCI status to CO2 value chain project developed by MOL with partners
12:14 HHLA's revenue decreased by 0.3 percent to € 363.6 millions in Q1 2024
11:42 MOL and TotalEnergies sign time charter contracts for 2 newbuilding LPG-fueled LPG carriers
10:40 Kalmar and Uniport Livorno agree on new terminal tractor order to enhance reliability, safety and service quality at Italian terminal
10:04 AMSA collaborates on a trial providing more recycling options for visiting foreign ships
09:59 SunGas Renewables and C2X announce strategic partnership

2024 May 15

18:07 MOL holds naming ceremony for newbuilding LNG carrier Greenergy Ocean to serve China National Offshore Oil Corporation
17:30 ClassNK and StormGeo mark significant collaboration to advance maritime decarbonization
17:02 Newly certified methanol valves to improve dual-fuel shipbuilding
16:45 HD KSOE to lease Subic shipyard in Philippines
16:25 Eidsvaag receives two forage carrier vessels designed and equipped by Kongsberg Maritime
15:58 ADNOC delivers first ever bulk shipment of CCS-enabled certified low-carbon ammonia to Japan
15:35 World's 1st wind challenger-equipped coal carrier achieves fuel savings of 17%
14:57 LR to support the retrofit of two Stena Line ferries to methanol
13:52 Port of Los Angeles nets record $58 million for harbor maintenance
13:32 CMA CGM to launch MCX - West Coast Central America
12:51 Port of Long Beach cargo volumes up 14.4% in April
12:21 First Ro-Pax vessel receives DNV Silent notation following successful sea trials with Wartsila propellers
11:41 Hapag-Lloyd transport volumes increased by 6.8 percent to 3 million TEU in Q1 2024
11:10 Cavotec signs two-year service agreement with Port of Salalah
10:41 China overtakes Korea in global shipbuilding competitiveness
09:58 The ports of Rotterdam and Delft join the CLARION project

2024 May 14

18:02 ICTSI to invest in new Southern Luzon gateway
17:31 ACL, BG Freight Line and Peel Ports Group start container service between Ireland and North America
17:10 Port of Hamburg is the first port in Europe to offer shore power for both container and cruise ships
16:31 Port of Gothenburg launches the platform "Digital Port Call"
16:18 NS United, NSY, Imabari Shipbuilding and Japan Marine United Corporation sign MOU for the construction of Cape-size bulk carriers using dual methanol fuel
15:56 Port of Antwerp-Bruges launches the world's first methanol-powered tugboat
15:29 The Ports of Barcelona and Shanghai will work together on innovation and decarbonisation projects
13:55 AD Ports Group announces Q1 results
12:58 NYK, NBP, TSUNEISHI SHIPBUILDING and Drax sign MOU to develop ‘bioship’ technology and plans to construct the world’s first biomass-fuelled ship
11:30 Maris Fiducia team up with HAV Hydrogen, Norwegian Hydrogen and Ankerbeer for zero emission bulk shipping
11:05 ABS and HD Hyundai Group sign MOU to advance medium-voltage power systems on ships