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  • MABUX: Bunker market this morning, July 29
  • 2019 July 29 08:44

    MABUX: Bunker market this morning, July 29

    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 downward evolution on July 26:

    380 HSFO – USD/MT – 415.70 (-1.94)
    180 HSFO – USD/MT – 451.55 (-3.25)
    MGO – USD/MT – 657.07 (-2.19)


    Meantime, world oil indexes changed also insignificant and irregular on Jul.26: the fears of a Middle East showdown in the Strait of Hormuz unable to push up prices after being trumped by greater fears of an economic slowdown and weak demand outlook.

    Brent for September settlement increased by $0.07 to $63.46 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for September delivery gained $0.18 to $56.20 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $7.26 to WTI. Gasoil for August lost $4.25.

    Today morning oil indexes does not have any firm trend so far.

    World experts worry that the U.S.-China trade war will impact global economic growth more than previously expected, despite clear signals from many major central banks, including the Fed, that they would cut rates and ease monetary policies. More than 70 percent of 250 economists polled by Reuters now say a deeper global economic downturn is more likely, compared to around 50 percent in a similar poll in April.

    China produced 95.35 million tons (699.2 million barrels) of crude oil during the first half of the year. This represented a modest 0.8-percent annual increase. The increase in crude oil production, however small, was worth noting. China has been struggling with a decline in domestic oil production caused by a combination of natural depletion and geological challenges that make new production in many cases prohibitively expensive.

    Besides, China imported about 209,000 bpd of oil from Iran in June despite U.S. sanctions. Imports are down from just under 500,000 bpd in the first five months of the year, but the levels are still significant. The data adds to speculation that Beijing may risk running afoul of American sanctions to secure crude supplies from the Islamic Republic. Besides, in June, China is expected to ramp up purchases from other major oil-producing countries in the Middle East, West Africa and Russia to make up for the loss of supplies from Iran.

    Saudi Arabia urged on Jul.25 countries buying crude oil to secure the free navigation of tankers in the Strait of Hormuz, which  is the most important oil chokepoint in the world with daily oil flows averaging 21 million bpd, or the equivalent of 21 percent of global petroleum liquids consumption. Several high-profile incidents in recent weeks and months have raised the tensions between Iran and the West in the Middle East.

    The US oil and gas rig count fell by 8 last week, adding to months of losses, as US oil production falls to lowest levels since October 2018. The total number of active oil rigs in the United States fell by 3 according to the report, reaching 776. The number of active gas rigs decreased by 5 to reach 169. US production fell sharply for week ending July 19 to 11.3 million bpd, more than 1 million barrels down from the all-time high in the United States, and the lowest production level since October of last year.

    Nord Stream 2 AG said on Jul.26 that it had brought action for annulment of the amendment to the Gas Directive before the General Court, because it says the measures extended to pipelines to and from the EU are ‘discriminatory.’ Nord Stream 2 also reserves the option to defend its rights under international law by proceeding separately with arbitration against the EU pursuant to the investment protection guarantees of the Energy Charter Treaty (ECT). Meanwhile, a U.S. Senate committee will now not vote until next week on a bill that seeks to levy sanctions on companies and individuals involved in building the Nord Stream 2 pipeline.

    We expect bunker prices may continue irregular changes today in a range of plus-minus 1-4 USD.




2022 August 17

18:37 NFE and Apollo funds complete $2 bln LNG maritime joint venture
18:07 Steerprop to supply a complete propulsion package for first-of-its-kind Wind Installation Vessel
17:31 Svitzer brazil strengthens fleet with two newbuilds
17:23 SFL Corporation agrees to acquire four Suezmax tankers in combination with long term charters
17:12 TransContainer obtains 58.51% of SASCO stake
17:09 SCHOTTEL RudderPropellers to power world’s first hydrogen tug
16:47 Traffic along Rhine further hindered after vessel's engine failure - Reuters
16:14 Iranian company Khazar Sea Shipping Lines launches regular Caspian services between Iran and Russia
15:56 New E-Flexer ferry Stena Estelle takes up operation on 4 September
15:35 SCZONE signs MoU with Toyota Tsusho for infrastructure projects
14:55 Port of Hamburg's total throughput up 0.9 percent to 4.4 million TEU in H1 2022
14:35 Saudi Ports register 16% growth in cargo volumes in July 2022
14:25 Throughput of Chinese sea and river ports in 7M’2022 climbed by 0.1% YoY
13:13 RUSCON launched multimodal service between Japan and Kazakhstan
12:41 DFDS reports strong Q2 results and upgrads its outlook for the full year
12:11 Philippine Ports Authority net income up 9% in 1H 2022
11:42 New floating production unit delivered to ABS Class
11:26 NYK Tokyo Container Terminal starts operations of four transfer cranes
10:58 Global Ports Holding signs 30-year concession agreement for San Juan Cruise Port, Puerto Rico
10:09 Port of Long Beach releases the Deep Draft Navigation Integrated Feasibility Report
09:41 Crowley secures subcontract for hybrid-electric ferry
09:38 Delo Group acquired Sakhalin Shipping Company
09:17 Crude oil futures rise after a fall at the previous session
08:55 MABUX: Global bunker prices to continue firm downward trend on Aug 17

2022 August 16

18:11 Viktor Chernomyrdin icebreaker officially received the status of a passenger ship
17:55 Sailing ship Mir takes on board second shift of cadets this year
17:36 Wan Hai Lines acquired four 3,000 TEU containerships from CSBC Corporation
17:06 Gulf Navigation seals refinancing deal for 5 petrochemical tankers
16:42 ABP appoints the lead for Port Talbot Transformation Programme
16:23 Port of Singapore bunker sales in 7M’2022 fell by 8.6% YoY
16:04 More than 500 workers of the port of Liverpool to strike over an ‘inadequate’ pay offer - Unite
15:38 Port of Singapore throughput in 7M’2022 fell by 3.7% to 339.1 million tonnes
15:14 Reefer container freight rates stabilise but to outpace dry box pricing - Drewry
15:04 A.P. Moller - Maersk to adopt Viking’s HydroPen container firefighting system
14:49 Port of Helsinki throughput in January-July 2022 rose by 8.4% YoY
14:30 Suez Canal Authority and Maersk sign bilateral cooperation agreement
14:20 GoodFuels’ Asia-Pacific branch starts sustainable biofuel deliveries with NYK as first client
14:03 Paxocean, Hong Lam Marine and Bureau Veritas sign Mou to develop ammonia bunker vessel design
13:31 Korea’s automobile exports top US$5bn in July - BusinessKorea
13:02 Ship travel passenger numbers in Helsinki late summer up to 80% of pre-COVID levels
12:38 Equinor extends contracts for AHTS’s in Norway and Brazil
12:37 Vladivostok Sea Fishing Port included into China’s list of Russian fishery products suppliers
12:01 Maersk and Castlery sign multi-year global logistics and fulfilment agreement
11:48 IAA PortNews to hold discussion on fish ports development and fish delivery logistics at Seafood Expo Russia
11:30 Steerprop to supply a complete propulsion package for first-of-its- kind wind installation vessel
11:01 Kalmar and Tropical Shipping strengthen long-term relationship with new order for straddle carriers
10:20 Eneti announces sale of shareholding in Scorpio Tankers
10:09 Ocean Network Express connects to CargoWise to enable automatic digital rate transfer
09:37 Freeport of Riga increased its cargo turnover in 7M’22 by 13.1% YoY
09:18 MABUX: Downward trend returns back to Global bunker market on Aug 16
09:14 Crude oil futures continue decreasing after a fall due to reduction of demand in China
09:13 Furetank and Algoma establish joint venture to construct four climate friendly dual-fuel product tankers

2022 August 15

18:26 Fujian MSA and Fishing Authorities announce the 1st batch of hgh risk warning areas of collision between merchant ships and fishing boats
18:06 Port digitisation project at APM Terminals Liberia set to improve efficiency and ease of doing business
17:55 Vladivostok Sea Fishing Port to convert one of its berth into container storage yard
17:26 King Abdulaziz Port in Dammam breaks container throughput record in June
17:06 Keppel O&M wins US$2.9bn newbuild FPSO P-80 contract from Petrobras
16:41 Zero-carbon fuel readiness on the rise but challenges remain - LR
16:20 Container throughput of Hong Kong port (China) in 7M’2022 fell by 4.3% to 8.65 million TEU
16:01 De-Kastri port to handle four ships loaded with oversize cargo for Amur Gas Chemical Complex in 2022