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  • MABUX: Bunker market this morning, Apr.29
  • 2019 April 29 08:57

    MABUX: Bunker market this morning, Apr.29

    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) continued upward trend on Apr.26:

    380 HSFO - USD/MT - 443.64(+6.35)
    180 HSFO - USD/MT - 491.21(+5.28)
    MGO - USD/MT - 661.79(-1.50)

    Meantime, world oil indexes fell sharply on Apr.26 as the market reassessed the impact of U.S. sanctions on Iran.

    Brent for June settlement decreased by $2.20 to $72.15 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for June delivery lost $1.91 to $63.30 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of 8.85 to WTI. Gasoil for May delivery dropped by $23.00.

    Today morning oil are changing irregular with no any firm trend so far.
     
    Global oil markets are still adjusting to President Trump’s decision to not extend the 180-day waiver for Iranian oil imports to the country’s eight largest customers. Saudi Arabia, for its part, said that it saw no need to increase oil production after the Iranian oil waivers expire on May 2. It also added that it would respond to customers’ needs if asked for more oil.

    While Saudi Arabia and the UAE have apparently indicated a willingness to offset Iranian disruptions, it would come at the expense of spare capacity. OPEC has about 3 million bpd of spare capacity, but Iran could lose nearly 1 million bpd if the U.S. succeeds. An outage elsewhere leaves little margin for error.

    Asian companies are beginning to pull back from Iran, fearing retaliation from U.S. sanctions. Iran had hoped that international companies, especially companies from China, would provide an economic lifeline after the U.S. withdrew from the nuclear deal. But many deals between Iran and China have been stopped now. China may try to continue to import oil from Iran, defying U.S. sanctions, but Chinese companies are curtailing their exposure.

    Citing quality concerns, Germany and Poland temporarily suspended imports of oil from Russia. The suspension could have knock on legal effects, as buyers in Western Europe could open up lawsuits against Russian suppliers.

    President Trump indicated his support for the Libyan National Army’s (LNA) assault on Tripoli in a phone call with general Khalifa Haftar last week, reversing official U.S. policy of supporting the internationally-recognized government in Tripoli. Trump stressed Haftar’s importance in securing Libya’s oil fields.

    PDVSA (Venezuela) expects a sharp decline in oil production in April. A string of blackouts in the last few weeks have caused extended outages at crucial oil facilities including the upgraders, which have a combined capacity of 700,000 bpd. On top of the massive blackouts, Venezuela’s oil industry suffered in the past two months from the U.S. sanctions, the continued economic crisis, and the chronic underinvestment in its oil facilities. Venezuela’s crude oil production plunged by 289,000 bpd from February to below 1 million bpd-to 732,000 bpd in March.

    The number of active oil and gas rigs fell sharply in the United States last week, the second large drop in as many weeks, keeping the overall rig count below year-ago for the second week in a row. The total number of active oil and gas drilling rigs in the United States fell by 21, with the number of active oil rigs falling by 20 to reach 805 and the number of gas rigs falling by 1 to reach 186. The combined oil and gas rig count is now down year on year for the first time since the end of 2016. Despite of that, US crude oil production is still at near all-time highs, and for week ending April 19, US oil production stood at 12.2 million barrels, resuming its previous all-time high first reached for week ending March 29.

    We expect bunker prices will drop today in a range of minus 10-16 USD.


2022 January 25

18:10 Ports of Los Angeles & Long Beach postpone Container Excess Dwell Fee
17:55 Joint Russian-Chinese naval exercise Peaceful Sea-2022 took place in the Arabian Sea
17:36 Broad scope of Wärtsilä power solutions selected for gas-fuelled ferry trio
17:26 ICTSI's Cavite Gateway Terminal beefs up operations
17:04 BLRT Grupp is constructing a unique floating exhibition centre for Norway
16:45 Port of Los Angeles launches first-of-its-kind cyber resilience center
16:25 IDFA, Port of Los Angeles, and CMA CGM form joint initiative to advance U.S. dairy exports
15:52 MOL announces the world's first successful sea trial of autonomous sailing on a commercial container ship voyage
15:13 Damen commissions Rolls-Royce business unit to supply automation solutions for German Navy’s F126 frigates
15:02 Valenciaport and COSCO collaborate in the automation of the delivery of container seals
14:41 Flag-raising ceremony held on Sibir, first serial nuclear-powered icebreaker of Project 22220
14:02 7.6 million tonnes of goods handled in record quantities at the Port of Kiel
13:36 Glavgosexpertiza approves installation of NSR maritime distress safety system at “Dickson” station
13:12 European shipowners support EU parliamentary proposal on commercial operators and a sector-dedicated fund
12:54 Damen signs up ERMA FIRST to supply world’s smallest Ballast Water Treatment System
12:30 TotalEnergies launches Port of Marseille Fos’ first ship-to-containership LNG bunkering operation
12:11 OOCL posts results for 2021
11:24 RF Accounts Chamber found Russian IWW potential not to be used in full
11:00 European Parliament proposed amendments to EU ETS put Green Deal goals at risk, says World Shipping Council
10:17 Saimaa Canal Commission grants permit to Transport Infrastructure Agency for construction in Saimaa Canal lease area
09:43 Baltic Dry Index as of January 24
09:28 Crude oil prices continue moderate increase
09:15 MABUX: Global bunker prices to trend lower on Jan 25

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