• 2019 March 26 09:44

    MABUX: Bunker Market this morning, March 26

    The Bunker Review was contributed by Marine Bunker Exchange

    MABUX World Bunker Index (consists of a range of prices for 380 HSFO, 180 HSFO and MGO (Gasoil) in the main world hubs) rose slightly on Mar.25:

    380 HSFO - USD/MT - 410.14(-9.07)

    180 HSFO - USD/MT - 458.36(-9.93)

    MGO - USD/MT - 630.00(-6.93)

    Meantime, world oil indexes changed irregular on Mar.25, as concerns about a slowdown in global economic growth lingered, offset by the prospect of tighter U.S. crude supply.

    Brent for May settlement rose by $0.18 to $67.21 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for May delivery declined by $0.22 to $58.82 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of 8.39 to WTI. Gasoil for April delivery gained $9.50.

    Today morning oil indexes turned into slight upward evolution.

    The Federal Reserve signaled a more dovish turn last week, indicating that the central bank may not raise rates at all this year, a dramatic turnaround from the expectation of two rate hikes. The move is very positive for oil and fuel prices, however the justification for backing off more rate hikes is that the central bank sees the global economy slowing more than previously thought.

    The opposition-led National Assembly of Venezuela last week voted to suspend crude oil shipments to Cuba after Juan Guaido slammed these exports as funding dark purposes. Guaido’s proposal was voted for unanimously and took immediate effect. However, it remains to be seen whether it will take actual effect as the Maduro government still seems to be in charge of PDVSA. Earlier Guaido tweeted that Venezuela was sending around 47,000 bpd of crude to Cuba and these were worth US$2.58 million that would be better used at home. Venezuela is Cuba’s largest oil supplier under a barter deal sealed by the late leaders of the two countries, Hugo Chavez and Fidel Castro. The deal envisaged Cuba getting regular shipments of crude in exchange for its highly trained doctors and other professionals to work in Venezuela.

    Meantime, two Russian planes with 100 troops landed in Venezuela this weekend. The move is the latest signal of strengthening ties between Caracas and Moscow amid growing pressure on the Maduro government from Washington. An explanation given by Russian official sources, said that Russia has various contracts of a technical military character that are in the process of being fulfilled. The news supported fuel indexes and may spark a reaction from Washington as the Venezuelan crisis continues with no resolution in sight despite the increasing pressure that the United States is piling up on the government in Caracas.

    Security forces at the Alaas field in northern Iraq have thwarted an attack by Islamic State militants, killing and injuring several attackers. This is the latest in several attacks by the terrorist group on the field after it was driven out of the area in 2017. At the time, Alaas was one of the fields that IS set on fire during its retreat. At present the militants have started targeting oil fields again. In early February, Iraqi media reported two attacks on oil police checkpoint staff in a single weekend. Iraq had oil reserves of 153 billion barrels as of 2017, but there is higher estimate and if it proves true, it would make Iraq the largest oil-rich country in the world, ahead of Venezuela.

    U.S. energy firms last week reduced the number of oil rigs operating for a fifth week in a row, cutting nine rigs to the lowest count in nearly a year as independent producers follow through on plans to cut spending with the government cutting its growth forecasts for shale output.

    Prices for LNG in Asia collapsed by more than 50 percent from their 2018 highs as a wave of new projects have come online. As per estimation made by Bank of America Merrill Lynch, LNG supply growth of 22 mtpa in 2018 proved too much to handle. Now, it is expected another 46 mtpa supply in 2019 and 27 mtpa in 2020, with most of the volumes coming from the US.

    We expect bunker prices for IFO may change irregular in the range of plus-minus 1-2 USD/MT while prices for MGO will rise by 4-8 USD.


2020 May 30

16:23 APL England master faces charges over shipping container loss
15:27 Xeneta Container Rates alert: continued global uncertainty hits rates, but worst fears yet to be realised
14:32 EC approves €600 million Finnish guarantee scheme to support maritime companies affected by the coronavirus outbreak
13:12 Bollinger Quick Repair takes delivery of new dry-dock “Mr. Eddie”
11:47 Sanmar and Svitzer deliver power and performance to Port of Sohar
10:58 Coast Guard Cutter James seizes 3,350 lbs of marijuana off Central American

2020 May 29

18:36 Port of Marseille Fos to constuct a new international ferry terminal
18:20 Sea Port of Saint-Petersburg boosts its infrastructure investments by 40%
18:06 PIL starts a new India Service - China India Express (CIX)
17:51 Petrotrans takes delivery of lead ship of Project RSD59
17:36 Rolls-Royce seals major contract covering complete MTU propulsion systems for Royal Navy Type 31 frigates
17:14 United Shipbuilding Corporation developed its own cargo ship design
17:06 ECSA welcomes TRAN opinion on future EU-UK partnership and urges rapid advancement of the talks in view of the looming deadline
16:15 Port Authorities pledging support to keep ports open during COVID-19 more than doubles within a month
15:52 Market of seaborne cargo transportation for wind farms is stable and expected to grow
15:46 Viking Line starts a passenger service from June 1
15:05 KiwiRail orders two new ferries
14:49 Admiral Makarov University introduced new GMDSS simulator class
14:05 Bollinger Shipyards delivers the USCGC MYRTLE HAZARD to the U.S. Coast Guard
13:41 Smart Delta Resources launches project to substantially reduce CO2 emissions in Scheldt-Delta region
13:09 Record engine powers world’s largest containership
12:48 Large amphibious ships of RF Navy's Black Sea Fleet conducted comprehensive exercise in sea training ground
12:30 Navigation season opens on Upper Lena and Lower Lena rivers
12:09 Global shipping body addresses the health concerns of seafarers during the COVID-19 pandemic
11:26 Vimpel Shipyard launches coast guard boat Lamantin of river-going design
11:03 LNG STS bunkering – ‚First-off‘ operations in France, Germany and Norway
10:28 Oil prices fall by over $1
10:09 DP World joins with TradeLens to digitize global supply chains
09:53 Bunker prices are stable at the port of Saint-Petersburg, Russia
09:35 Baltic Dry Index on May 28
09:20 Konecranes to deliver third mobile harbor crane to South Australia
09:17 MABUX: Bunker market this morning, May 29
08:46 CMA CGM announces FAK rates from Asia to North Africa, Mediterranean and North Europe

2020 May 28

18:37 CMA CGM ends ESS from North Europe, Scandinavia & Poland to West Med, East Med, Adriatic & North Africa
18:07 PortXchange results in shorter idle times on departure at APM Terminals Rotterdam
17:24 Independent Container Line starts new service from Cork to USA
17:20 Antwerp@C investigates potential for halving CO2 emissions in Port of Antwerp by 2030
16:49 Nevsky Shipyard launches lead ferry of Project PV22, Admiral Gennady Nevelskoy
16:17 Finland's new Water Traffic Act enters into force in June
16:05 Lubrizol joins the Getting to Zero Coalition
15:56 Wärtsilä high-efficiency propulsion solutions selected for special high-speed ferry
15:46 ABP keeps Britain trading in the safest way possible
15:02 Bunker prices show no considerable changes at the Far East ports of Russia (graph)
14:38 Bunkering tanker intended for Baikal lake delivered to the customer
14:00 WinGD wins type approval for biggest and most powerful ever dual-fuel engines
13:00 Gasum partners up with the sustainable transport solution provider company Samskip
12:30 More Konecranes BOXHUNTER RTGs to Vietnam
12:00 Konecranes and Fluidmesh join forces to deliver world-first 100% wireless Automated Rubber Tired Gantry crane system
11:30 EPS and Equinor set sights on a trio of newbuild LPG dual-fuel vessels
11:09 Boskalis awarded two dredging contracts in Finland
10:51 Oil prices continue going down
10:30 DNV GL releases first ever traceability standard for reclaimed plastic
10:09 Port of Stockholm announces arrival of the first container ship at Norvik Port
09:44 CMA CGM announces Overweight Surcharge (OWS) from Asia to North Europe
09:37 Baltic Dry Index on May 27
09:19 Rosmorport released young trout into Ladoga lake
08:54 MABUX: Bunker market this morning, May 28

2020 May 27

18:36 Nexans wins major subsea HVDC cable contract from Greece's Ariadne Interconnection S.P.S.A
18:06 The lock gate of the Pierre Vandammelock at the port of Port of Zeebrugge gets decoupled and transported to the inner harbour for renovation works
17:36 Sales of “Honesty” - device to measure the level of liquid in tanks - exceeds 1,000 units