• 2019 August 21 09:00

    MABUX: Bunker Market this morning August, 21

    The Bunker Review was contributed by Marine Bunker Exchange (MABUX)

    MABUX World Bunker Index (consists of a range of prices for 380 HSFO, 180 HSFO and MGO (Gasoil) in the main world hubs) rose on Aug. 20

    380 HSFO - USD/MT 355.76 (+5.43)
    180 HSFO - USD/MT 401.86 (+5.48)
    MGO - USD/MT 636.31 (+2.91)


    Meantime, world oil indexes demonstrated slight irregular changes on Aug. 20.

    Brent for October settlement increased by $0.29 to $60.03 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for October delivery declined by $0.08 to $56.13 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of 3.90 to WTI. Gasoil for September delivery increased by $2.50.

    Today indexes rise, pushed up by larger-than-expected drawdown in U.S. crude inventories, but ongoing worries about a global economic recession capped gains.

    U.S. crude oil stocks fell by 3.5 million barrels to 439.8 million in the week to Aug. 16, data from industry group the American Petroleum Institute (API) showed. It was expected a decrease of 1.9 million barrels. Inventory numbers from the government's Energy Information Administration (EIA) are due today in the evening.

    Oil prices were supported by some positive developments on the Sino-U.S. trade front yesterday. U.S. Commerce Secretary Wilbur Ross confirmed overnight that Washington will extend for another 90 days a license that allows China’s Huawei Technologies Co. to temporarily continue doing business with U.S. companies. It is also a positive step ahead of next month’s U.S.-China trade talks. White House economic adviser Larry Kudlow said recent conversations between both sides had been “positive” and teleconferences would continue for a week to 10 days.

    A rally in equity markets around the world on growing expectations that global economies will take action against slowing growth also supported crude prices. China’s new lending reference rate was set slightly lower on Aug.20 after the central bank announced interest rate reforms designed to reduce corporate borrowing costs, while Germany’s right-left coalition government said it would be prepared to ditch its balanced budget rule and take on new debt to counter a possible recession.

    Still, prices were weighed down by a report from OPEC that stoked concerns about oil demand growth. The group cut its forecast for global oil demand growth in 2019 by 40,000 barrels per day (bpd) to 1.10 million bpd and indicated the market would be in slight surplus in 2020

    Market was also watching for signs of tension in the Middle East after the United States called the release of an Iranian tanker at the center of a confrontation between Iran and Washington unfortunate, warning Greece and Mediterranean ports against helping the vessel. U.S. Secretary of State Mike Pompeo said on Aug.20 that the country would take every action it can to prevent an Iranian tanker sailing in the Mediterranean from delivering oil to Syria in contravention of U.S. sanctions.

    Elsewhere, the news that Yemeni rebels attacked an oil facility in Saudi Arabia over the weekend remained in focus. While reports suggested that it would take at least a week to repair the damage, state-run Saudi Aramco said oil production was not affected. At the same time Saudi Arabia plans to keep its crude oil exports below 7 million bpd in August and September despite strong demand from customers, to bring the market back to balance.

    We expect bunker prices little change today: about plus/minus 1-3 USD.




2024 March 28

13:37 Konecranes launches its flagship Konecranes X-series industrial crane
12:53 United European Car Carriers UECC spearheads collaboration with industry leaders to advance CNSL as a sustainable marine fuel
12:26 Ocean Network Express announces Transpacific service
11:48 Yang Ming announces 2025 Trans-Pacific service network
11:24 Fincantieri signs contract for the supply of two PPAs to Indonesia
10:42 Maersk transported more than 660,000 TEU using clean fuel in 2023
10:23 Documentation delays push industry costs to $3bn
09:48 PONANT and FARWIND Energy partner to develop green hydrogen refueling solutions

2024 March 27

18:22 Bureau Veritas awards world’s first prototype certification for SolarDuck’s floating offshore solar solution
17:58 The recently converted Allseas's shallow water pipelay barge starts preparations for its first commercial project
17:38 The Port of Rotterdam calls on the European Commission and Parliament to focus on actively promoting green energy
15:23 SEFE to become sole shareholder of WIGA
14:53 Ocean Installer secures yet another SLM contract with Equinor
14:23 Cadeler signs offshore wind turbine installation contract for the vessel Wind Scylla
13:42 Carnival Cruise Line orders 5th Excel-class cruise ship
13:11 Maersk and MSC overcharging cargo owners for EU ETS, says T&E
12:52 The Port Authority of Valencia launches the ZAL project in the Port of Valencia
12:11 Clarkson Port Services and Peak Group collaborate to deliver Port Agency services across the North Sea
11:42 Wan Hai Lines holds ship naming ceremony for new vessels
11:24 Consolidated shipping lines EBIT loss was $1.44 billion in Q4 2023: Sea-Intelligence
10:49 Seaspan Shipyards receives long-term contracts for the pre-construction work of the the Canadian Coast Guard's first six multi-mission vessels
10:14 Woodside completes sale of 10% scarborough interest

2024 March 26

18:02 COSCO Shipping Lines introduces new Americas service
17:30 Davie awarded first contract for design of icebreaker fleet under Canada’s National Shipbuilding Strategy
17:04 Sanctions complicate Arctic LNG ship sales, Hanwha Ocean says - Bloomberg
16:57 Terntank places an order for 1+1 additional wind/ methanol-ready hybrid tanker
16:28 BW LNG completes acquisition of two TFDE vessels from Stena Bulk
15:50 Hanwha Ocean develops VR-based special vehicle simulator
15:20 TotalEnergies and SINOPEC join forces to produce sustainable jet fuel at a SINOPEC's refinery
14:52 Wärtsilä Lifecycle Agreement to guarantee operational reliability of new wind farm installation vessel
14:23 Hudong-Zhonghua launches two LNG carriers
13:51 Cargo ship hits Baltimore’s Key Bridge
13:12 Final sanctioned tanker with Russian Sokol oil to reach China port - Reuters
12:42 Adani Ports acquires 95% of Odisha's Gopalpur Port from SP Group for $162 million
12:21 IHI and Yara Clean Ammonia agree to jointly assess clean ammonia business collaboration
11:41 Yara Clean Ammonia and Azane granted safety permit to build world's first low emission ammonia bunkering terminal
11:16 Wartsila and Royal Caribbean Group celebrate 15 years of collaboration on digital transformation
10:46 A global carbon tax on shipping is coming, says ABS Chairman and CEO
10:21 Eni, Fincantieri and RINA establish partnership for maritime transport decarbonization

2024 March 25

18:07 The Maritime and Port Authority of Singapore continues to investigate reports of oil spills off the port of Tuas
17:31 “K” Line, NIPPON HAKUYO and OPT Gate sign an agreement for a new fire detection system for car carriers
17:07 Greek merchant fleet recorded slight decline in January 2024
16:47 Hanwha Ocean Plans to develop green technology and naval ships
16:25 U-Ming Singapore and ITOCHU sign milestone MoU for the joint development of ammonia dual-fuel and de-carbonized vessels
15:34 Svitzer targets methanol-fuelled MAN 175DF-M engine for tug application
15:04 Wallenius Wilhelmsen signs contracts for four 9,300 CEU vessels with China Merchants Jinling Shipyard
14:40 Taiwan International Port to upgrade terminal facility at Kaohsiung
13:59 Сruise ship Carnival Freedom catches fire near Bahamas
12:59 Hanwha Ocean wins 2.4 tln-won order for 8 LNG ships
11:16 Inland Ports meet in Paris to talk about the innovation potential of inland ports
10:50 IMO agrees possible outline for maritime “net-zero framework”
10:24 Hapag-Lloyd to continue to avoid the Red Sea route
09:58 QatarEnergy enters time charter agreements with Nakilat for the operation of 25 LNG vessels

2024 March 24

16:18 Inchgreen Marine Park upgraded as part of £11m investment
15:14 A ribbon-cutting ceremony for Solent Rail Terminal Rail was held at the Port of Southampton
14:08 ESNA and Strategic Marine join forces to offer Surface Effect Ship (“SES”) Crew Transfer Vessels (“CTV”) to the market
13:07 First LNG powered vessel calls at HIP
12:49 Inter-array cable installation completed at Neart na Gaoithe offshore wind farm
11:32 Equinor ASA posts net income at USD 11.9 billion in 2023
09:25 Edda Wind announces the sale of Edda Passat

2024 March 23

17:19 Maersk opens new warehouse facility in Tijuana, Mexico for cross-border capabilities
14:01 Bollinger Shipyard marks keel laying ceremony for 10th Navajo-class T-ATS
13:55 MEYER WERFT and Disney Cruise Line celebrate keel laying
12:19 HSL completes repair work on DEME's dredger TSHD Bonny River
10:53 Turkish shipbuilder delivers RAscal 1500 ASD tug to French port

2024 March 22

18:07 Lloyd's Register releases a report on the operational and safety issues of the use of ammonia as a marine fuel
17:17 RINA supports Mongolia's to develop a roadmap for long-term strategy according to Paris Agreement
16:47 MOL Coastal Shipping to start concept study on large coastal ammonia carrier
16:23 MAN 51/60DF engine passes 10 mln operational hours milestone
15:56 TotalEnergies restarts gas production at the Tyra offshore hub after a major redevelopment