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  • MABUX: Bunker market this morning, June 20
  • 2019 June 20 09:27

    MABUX: Bunker market this morning, June 20

    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) slightly rose on June 19:

    380 HSFO – USD/MT – 387.56 (+5.74)
    180 HSFO – USD/MT – 427.58 (+4.84)
    MGO – USD/MT – 638.50 (+2.75)


    Meantime, world oil indexes slightly declined on Jun. 19 after official government data showed a larger-than-expected fall in U.S. crude inventories.

    Brent for August settlement declined by $0.32 to $61.82 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for August delivery fell by $0.14 to $53.97 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of 8.06 to WTI. Gasoil for July lost $2.25.

    Today morning oil indexes turned into moderate upward evolution.

    The Energy Information Administration said in its regular weekly report that crude oil inventories decreased by 3.11 million barrels in the week to June 14. That was compared to forecasts for a stockpile draw of 1.08 million barrels after a build of 2.21 million barrels in the previous week.

    U.S. Secretary of State Mike Pompeo said U.S. doesn’t want war with Iran but keeps option on the table. While the U.S. says Iran was behind the tanker attacks, some countries doubt if there is enough evidence. Meanwhile, Iran said its uranium enrichment would breach the limits of the 2015 nuclear deal within 10 days if Europe did not help it circumvent U.S. sanctions. President Trump seemed to downplay the conflict, calling the tanker attacks very minor, indicating a disagreement within his administration.

    The International Energy Agency (IEA) cut its oil demand growth forecast last week—by 100,000 bpd from last month to a current estimate of 1.2 million bpd growth for 2019—a second consecutive downward revision in its monthly reports.  The IEA also warned that world trade growth has slumped to its slowest rate since the 2008/09 financial crisis and the consequences for oil demand are becoming apparent. The IEA, however, noted that there is optimism that the latter part of this year and next year will see an improved economic picture.

    Saudi Arabia is cutting its oil output and is asking other producers for restraint in production, as signs of slowing global demand for crude outweigh threats of war and worries about supply disruptions in the Middle East. That could take 300,000 to 400,000 bpd off of the market.

    A group of leading banks will for the first time include efforts to cut carbon dioxide emissions in their decision making when providing shipping company loans. International shipping accounts for 2.2% of global carbon dioxide (CO2) emissions and the U.N.’s International Maritime Organization (IMO), has a long-term goal to cut greenhouse gas emissions by 50% from 2008 levels by 2050. So 11 banks have established a framework to measure the carbon intensity of shipping finance portfolios. The banks involved in the “Poseidon Principles” initiative, which will set a common baseline to assess whether lending portfolios are in line or behind the adopted climate goals set by the IMO, represent around a fifth or $100 billion (£79.7 billion) of the total global shipping finance portfolio.

    Because of the tanker attacks in the Gulf of Oman, insurance costs have spiked. War risk premiums that owners pay each time they go to the Persian Gulf have now surged to at least $185,000 for supertankers. They rose to $50,000 after the attacks a month ago. Both owners and the companies that charter their ships paused bookings in the immediate aftermath of attacks on Jun.13 as they re-evaluated risks to oil from the Middle East in the wake of attacks on two more tankers just a month after similar incidents.

    Argentina suffered through a nationwide blackout, which even stretched into parts of Uruguay and Paraguay. The blackout started with a failure in the country´s interconnection system, known as SADI, but the root cause of the outage remained unknown and the results of a full investigation would not be available for 10 to 15 days. The blackout comes amid a deepening economic crisis in Argentina that has plunged nearly a third of the country into poverty, pushed interest rates skyward and sent the peso tumbling against the dollar, prompting mass protests throughout the country.

    We do not expect any drastic changes in bunker prices today: fluctuations in a range of plus-minus 1-3 USD may prevail.




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