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  • MABUX: Bunker market review as of Feb. 28.
  • 2019 March 4 13:22

    MABUX: Bunker market review as of Feb. 28.

    MABUX World Bunker Index (consists of a range of prices for 380 HSFO, 180 HSFO and MGO (Gasoil) in the main world hubs) demonstrated slight upward changes on Mar. 04

    380 HSFO - USD/MT 418.07 (+2.50)
    180 HSFO - USD/MT 464.86 (+2.22)
    MGO - USD/MT 646.36 (+1.86)

    Last week oil prices settled down 3 percent lower.

    Oil prices settled down about 2 percent on Friday, ending around 3 percent lower on the week as concerns over global demand growth after weak U.S. manufacturing data overshadowed OPEC-led supply cuts and sanctions on Venezuela and Iran.

    After strengthening early in the session to over a three-month high, U.S. crude futures turned sharply lower on demand worries. The ISM manufacturing activity index in February sank to the lowest since November 2016, and was below expectations.

    Despite hitting their highest levels since mid-November this week, Brent futures ended the week 3.3 percent lower and WTI dropped 2.7 percent.

    A Reuters poll showed analysts have grown more pessimistic over the prospects for a significant price rally this year, global fuel consumption is expected to dip this year in the face of a broad economic slowdown.

    China’s February factory activity fell for a third month as the world’s second-largest economy continued to struggle with weak export orders, a private survey showed on Friday. The weakness is also being felt across the wider region. South Korea’s exports contracted at their steepest pace in nearly three years in February as demand from China cooled further. Despite this, fuel consumption, especially in Asia’s developing economies which are key drivers of global oil demand, is so far holding up.

    Oil rises on U.S.-China trade deal hopes, OPEC's ongoing supply cuts

    Oil prices rose on Monday, buoyed by output cuts by producer club OPEC and reports that the United States and China are close to a deal to end a bitter tariff row that has slowed global economic growth.

    The rally followed reports that the United States and China are close to ending their bitter year-long trade dispute.

    The two countries appear close to a deal that would roll back U.S. tariffs on at least $200 billion worth of Chinese goods, as Beijing makes pledges on structural economic changes and eliminates retaliatory tariffs on U.S. goods, a source briefed on negotiations said on Sunday in Washington.

    Hopes of an end to the trade spat between the two world’s biggest economies added support to a market that has been rallying for the past two months on cuts to production.

    Oil Future close 1st March:
    Brent: $65.07(-1.24)pbr Front month May
    WTI: $55.8(-1.42)pbr Front month April
    MGO: $614.5(-10.50)/mton Front month March
    NY Harbor Ulsd: $616.03(-8.09)/mton Front month April

    Oil Futures trading at GMT: 07.57; Brent: +15 cents, WTI: +13 cents

    Expect bunker prices decline today, Fuel Oil down USD 5-7 /mton and MGO down USD 8-10 /mton.




2022 January 24

18:22 Nakilat takes delivery and management of fourth LNG carrier newbuild
18:09 CMA CGM and TotalEnergies launch Port of Marseille Fos’ first ship-to-containership LNG bunkering operation
17:55 Detachment of RF Navy’s Baltic Fleet went to sea to fulfill tasks of long-distance campaign
17:32 Raiffeisenbank opens USD 20 million credit facility for Sea Port of Saint-Petersburg
17:13 GTMaritime guide sets out future of maritime communications
16:50 Glavgosexpertiza approves construction of coal terminal Port “Vera” in Primorye
16:29 Salus Technical introduces its the cloud-based software Bowtie Master
15:58 Tersan shipyard lays down trawler for Magadan based fishing company Tikhrybkom
15:11 Wärtsilä hits methanol milestone with first newbuild engine order
14:30 Sea Port of Saint-Petersburg to take delivery of over 40 units of handling equipment and one 63-tonne crane in 2022
14:01 Dogger Bank announces supplier events for O&M phase
13:44 BW Offshore signed an agreement for the sale of the FPSO BW Joko Tole
13:21 Loko-Bank shareholder increased his share in FESCO to 26.52%
13:07 Royal Dutch Shell plc changes its name to Shell plc
12:44 FESCO increases number of transit container trains from CPV almost twice in 2021
12:23 EdgeTech rolls out the 6205s2 Swath Bathymetry & Side Scan Sonar System
12:18 PGS secures Northern Lights CO2 storage acquisition contract
11:52 Maersk Drilling secures 21-month contract with TotalEnergies
11:17 Second episode of a creative multimedia project named The Ecologist was launched in cooperation with Van Oord
10:49 Heerema announces contract with McDermott for Saudi Aramco’s Marjan Increment Program
10:42 Eastern Shipbuilding completes major infrastructure improvement project to support OPC program
09:28 Crude oil prices rise as demand increases
09:11 Baltic Dry Index as of January 21
08:37 MABUX: No firm trend on Global bunker market on Jan 24

2022 January 23

14:29 Record figures in Polish ports
13:52 Coast Guard to close southern Green Bay for commercial traffic
12:36 CMHI shipyard hosts a keel-laying ceremony for Ulstein designed expedition cruise vessel ‘Ocean Albatros’
11:47 SGMF releases updated version of LNG as a marine fuel – Safety and Operational Guidelines – Bunkering'
11:08 James Fisher Renewables secures high voltage safety management commissioning contract from Iberdrola’s Baltic Eagle offshore win
10:57 BW Ideol secures close to 1GW of offshore floating wind acreage in ScotWind leasing round
09:51 AIDA named Top Employer again

2022 January 22

14:06 Crowley names Marcus Jadotte as Senior VP, Government Relations
13:29 Kongsberg Digital joins the NorthWind project to develop digital twin technology for offshore wind
12:41 New year boost for MYCRANE as four lifting experts join the team
12:07 Mitsui O.S.K. Lines, Ltd. and Bombora Wave Power strengthen their collaboration through an investment
11:34 Carnival Cruise Line adding more embarkation enhancements as it commits to current protocols for the foreseeable future
10:54 Indian Register of Shipping strengthens focus on safety of Inland Waterways

2022 January 21

19:15 PortNews’ week updates and insights summary
18:20 More than 600 boxships stay off ports waiting for berth space, Seaexplorer disruption indicator shows
18:07 Green Innovation Fund adopts joint project on “Mass-production and Cost Reduction of Floating Offshore Wind Installation”
17:44 The new Stena Baltica has debuted on Stena Line’s Baltic Sea route from Ventspils to Nynäshamn
17:16 Port of Los Angeles breaks cargo record in 2021
17:06 Finnlines strengthens Germany-Sweden route with a fourth ship
16:36 Maersk opens its logistics center for South Western Europe at port of Barcelona
16:03 Dublin Port sees a small reduction in volumes in 2021
15:24 Kongsberg Digital joins the NorthWind project to develop digital twin technology for offshore wind
14:03 ClassNK issues Approval in Principle for ammonia-fueled Panamax bulk carrier developed by Planning and Design Center for Greener Ships (GSC)
14:02 TGE Marine announces completion of largest LNG Bi-Lobe Type C Tanks
13:23 Samskip adds 150 new sustainable reefer containers to its fleet
13:01 Icebreakers remain busy assisting shipping of the Gulf of Finland eastern part
12:13 Freight volumes increase at the Port of Gothenburg in 2021
12:12 Nippon Paint Marine’s new fastar antifouling earmarked for Cosco Shipping VLCC fleet
11:42 RZD invested heavily in its rolling stock upgrade in 2021
11:31 DP World launches a premium barge service between the Upper Rhine region and Rotterdam World Gateway
11:03 Israel orders three new submarines from thyssenkrupp Marine Systems
10:31 Port of Oakland import volume hit new record in 2021
10:11 Crude oil prices drop on US oil reserves growth
09:32 MABUX: Global bunker prices may slide down on Jan. 21
09:21 Baltic Dry Index as of Jan 20

2022 January 20

18:35 EuroDry announces agreement to acquire a 2014-built Supramax bulker