• 2014 October 23 18:44

    MABUX: Bunker prices to remain stable around today's level

    The Bunker Review is contributed by Marine Bunker Exchange

    Brent crude oil stabilized around $85 a barrel on Thursday as strong European and Chinese data offset a slide triggered by an unexpected build up in U.S. crude stocks.
     
    Industry activity in the euro zone grew much faster than analysts predicted in October, a purchasing managers’ index of 52.2 showed on Thursday from 49.9 in September -reading below 50 indicates contraction.

    Growth in Chinese industry quickened to a three month high in October. But overall growth in the world’s largest oil importer is at its slowest since the global financial crises in 2009, and risks missing its official target for the first time in 15 years.

    Oil prices are under constant pressure and stabilization risks to be short-lived due to the constant over supply of crude oil. Both benchmarks, WTI and Brent crude oil, fell sharply on Wednesday after U.S. inventory data showed a large climb in crude stocks to 7.1 million barrels last week, more than doubled the 2.7 million barrels increase that analysts had forecast.

    West Texas Intermediate rebounded on Thursday from its lowest closing price in two years after government data showed crude stockpiles gained more than forecast in the U.S. Crude oil has collapsed into a bear market as producers including Saudi Arabia cut export prices. Global supplies are rising as the U.S. pumps the most in almost three decades and Russia’s output nears a post-Soviet record.

    Germany is showing better numbers and created some kind of optimism for the euro zone that’s helping prices to stabilize, but at the same time but the build of inventories is weighing on prices. Data from China is not weak, but not strong either, which means Chinas’ influence on oil prices is neutral.

    Saudi Arabia and Kuwait have signaled that the fall in oil prices doesn’t warrant immediate production cuts. OPEC, responsible for about 40 percent of the world’s oil supply, is scheduled to meet on 27 November in Vienna. Libya’s OPEC governor Samir Kamal said on Wednesday that OPEC had to reduce oil output by at least 500,000 barrels per day to curb oversupply of about 1 million barrels per day.

    Bunker prices are expected to be stable around today’s level.

    All prices stated in USD / Mton
    All time high Brent = $147.50 (July 11, 2008)
    All time high Light crude (WTI) = $147.27 (July 11, 2008)


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2024 April 28

15:13 IACS publishes new recommendation for conducting commissioning testing of BWMS
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10:16 Gebrüder Weiss enlarges logistics center in Budapest
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2024 April 27

16:36 National Transportation Safety Board: Undetected flooding from a through-hull pipe led to capsizing of dredging vessel
15:49 Chantiers de l’Atlantique picks Brunvoll propulsion for the world’s largest sailing ships
14:31 US Navy announces first MCM MP embarked on USS Canberra
13:42 Interim president Michelle Kruger takes helm at Austal USA
12:17 DEME annnounces start of share buyback program
10:28 Ships with Korean-made LNG containment face key supply chain disruptions

2024 April 26

18:04 Seaspan celebrates 30 years of ship repair in Victoria
17:31 HMM enhances maritime safety with AI technology
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15:57 CMA CGM announces FAK rates from Asia to North Europe
15:24 MOL announced delivery of LPG dual-fuel LPG/ammonia carrier Aquamarine Progress II
14:53 DP World and Asian Terminals launch new Tanza Barge Terminal in Cavite
14:23 MH Simonsen orders eight hybrid methanol dual-fuel tankers at China’s Jiangxi New Jiangzhou Shipbuilding
13:47 DP World and Malaysia’s Sabah Ports form a partnership to manage Sapangar Bay Container Port
13:22 SCHOTTEL to equip Guangzhou Port Group’s latest e-tug with two RudderPropellers type SRP 360
12:57 FESCO Group proposes a mechanism in favour of Russian logistics operators over their foreign competitors in domestic transport market
12:39 SSK shipyard launches the Project 14400 support ship Nikolai Kamov in the Nizhny Novgorod region
12:33 Six companies start a joint study for the establishment of an ammonia supply chain based in the Tomakomai area of Hokkaido
11:52 European shipowners welcome 40% production benchmark for clean shipping fuels in Europe
11:14 Greek shipowners leaders in the secondary market once again
10:08 MPCC secures ECA-covered sustainable financing for its dual-fuel methanol newbuildings
09:38 Romanian port of Constantza to receive a new oil products terminal

2024 April 25

18:07 MSC collaborates with GSBN to trial integrated safe transportation certification verification process
17:23 China launches construction of cutting-edge marine research vessel
17:06 CMA CGM and Bpifrance launch €200mln fund to decarbonize French maritime sector
16:46 Avenir LNG orders two 20,000 M3 LNG bunker delivery vessels
16:05 Port of Amsterdam revenues up to €190.4 million in 2023
15:46 OOCL launches Transpacific Latin Pacific 5 to offer express linkage between Asia and Mexico
15:23 MOL is 1st Japanese shipping company to raise funds through transition linked loan using performance-based interest subsidy system
14:53 Trident Energy enters the Republic of Congo with strategic deal
14:21 LNG-powered ship moored in Koper for the first time
13:38 MABUX: Bunker Outlook, Week 17, 2024
13:32 The Grimaldi Group's Great Abidjan delivered in South Korea
13:12 European Parliament updates trans-European transport network guidelines
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12:10 MOL and Gaz System enter into agreement on FSRU project in Gdansk, Poland
11:31 Wartsila Gas Solutions to supply cargo handling system for a new 12.5k LNG bunkering vessel for Scale Gas
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10:42 Valencia port community increases waste recovery by 75%
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2024 April 24

18:02 Incat to commence design study for new electric-hybrid ferry in partnership with DFDS
17:39 FESCO's 2023 revenue was up 6% Y/Y to RUB 172 billion
17:20 Peninsula adds chemical tanker Aalborg to supply in the Port of Barcelona
17:17 NCSP Group’s Q1 net profit rises 1.9 times to RUB 4.8 billion
17:03 AtoB@C Shipping reveals names for the rest of its new hybrid vessels
16:45 Red Sea conflict brings massive carbon emissions increases in ocean freight shipping
16:17 Wallenius Wilhelmsen signs a 20-year lease agreement with the Georgia Ports Authority
15:46 AD Ports Group secures a 20-year agreement to operate and upgrade Luanda multipurpose port terminal in Angola
14:43 Hengli Heavy Industries receives an order for four bulkers from Ciner Shipping
14:27 TotalEnergies, OQ to launch $1.6bn LNG bunkering project in Oman
13:54 Major shipping companies may resume limited calls to the Port of Baltimore
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12:45 MSC adds King Abdul Aziz Port in Dammam to its East Africa Express service
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