• 2019 September 10 08:26

    MABUX: Bunker Market this morning, Sep 10

    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 changes on Sep. 09

    380 HSFO - USD/MT 385.32 (+8.18)
    180 HSFO - USD/MT 427.90 (+6.63)
    MGO - USD/MT 652.80 (+0.12)


    Meantime, world oil indexes demonstrated upward evolution on Sept. 09 after Saudi Arabia, the world's largest exporter of crude, named Prince Abdulaziz bin Salman as its new energy minister.

    Brent for November settlement increased by $1.05 to $62.59 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for October delivery rose by $1.33 to $57.85 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of 4.74 to WTI. Gasoil for September delivery increased by 16.75.

    Today indexes continue to rise amid optimism that OPEC and other countries may agree to extend production cuts in a bid to support prices.

    Prince Abdulaziz, son of Saudi King Salman and a long-time member of the Saudi delegation to the Organization of the Petroleum Exporting Countries, replaced Khalid al-Falih on Sep.08. Price Abdulaziz helped to negotiate the current agreement on supply cuts between OPEC+ and has been instrumental in cementing that cooperation. He said that the Saudi policy would not change and that the OPEC+ deal would survive.

    Prices were also supported by comments from Mazrouei that OPEC and its allies were committed to balancing the crude market.

    Russia's oil output in August exceeded its quota under the OPEC+ agreements to cut 1.2 million barrels per day. OPEC oil output rose in August, gaining for the first month this year as higher supply from Iraq and Nigeria outweighed restraint by Saudi Arabia and losses caused by U.S. sanctions on Iran, a Reuters survey found. The OPEC+ deal's joint ministerial monitoring committee will meet on Thursday, Sept.12 in Abu Dhabi.

    Oil indexes were also supported by a rise in oil imports in China in August, with shipments to the world's biggest importer up 3% from July and nearly 10% higher in the first eight months of 2019 from a year earlier.

    In the United States, drilling companies cut the number of operating oil rigs for a third week in a row last week.

    Iraq is committed to reducing oil production in line with OPEC and non-OPEC cuts, and will begin drawing down output as of October. Iraq needed to raise production over the summer months to meet domestic demand. Output will decline in the next few months because of lower domestic demand and the beginning of refinery maintenance. Iraq, OPEC’s second-biggest producer, has always pumped more than its commitment to the cuts.

    The Iranian oil tanker Adrian Darya 1 at the center of a dispute between Tehran and Western powers has been photographed by satellite off the Syrian port of Tartus. There is an image shows the tanker Adrian Darya 1 very close to Tartus on Sept. 6. The tanker, which is loaded with Iranian crude oil, sent its last signal giving its position between Cyprus and Syria sailing north on Monday. Washington has warned any state against assisting the ship, saying it would consider that support for a terrorist organization, namely, Iran’s Islamic Revolutionary Guard Corps. The U.S. Treasury Department blacklisted the tanker on Sep.6.

    We expect bunker prices to demonstrate upward changes today: about 3-5 USD up for IFO, about 13-15 USD down for MGO.




2020 September 29

13:58 Traficom surveyed Maritime professionals’ opinions regarding N2000 fairway and nautical chart reform
13:13 Victor Shitukhin is appointed as Acting Director of its Ship Repair Plant ‘Nerpa’
12:49 Lotos shipyard lays down two self-propelled dredgers
12:11 Bunker prices decrease in the Far East ports of Russia (graph)
11:47 Port of Antwerp focuses heavily on general cargo: search begun for breakbulk candidate for Churchill Dock
11:27 Joint oil spill exercise tests inter-agency response and cooperation amidst COVID-19 pandemic
10:46 New impetus for digitalization of shipping in the COVID-19 pandemic
10:09 IAPH presents guidelines for LNG-powered vessels during port calls
09:54 Oil prices are decreasing
09:35 Port Authority of Singapore holds joint oil spill exercise
09:15 Baltic Dry Index as of September 28
08:58 MABUX: Bunker market this morning, Sept 29

2020 September 28

18:57 Okeanis Eco Tankers announces one year VLCC time charter
18:27 Bumi Armada secures third FPSO project in India
18:07 Wilhelmsen and thyssenkrupp step-up collaboration, establishing 3D printing joint venture targeting the maritime industry
17:59 RF Government to allocate RUB 27.6 billion for construction of two scientific research ships
17:28 Port of Long Beach announces closure of traffic routes leading to the Gerald Desmond Bridge
17:05 Maersk Supply Service and Ørsted to test offshore charging buoy to reduce vessel emissions
17:02 Oboronlogistics completed Northern Delivery programme of 2020
16:56 UTLC ERA JLC and Belintertrans-Germany GmbH open joint end-to-end regular multimodal service from China to Western Europe
16:37 Atommash shipped Reactor Pressure Vessel for Turkey's first nuclear power plant
16:14 The digital transformation is accelerating, and insurers and underwriters must adapt, says IUMI
15:51 Ships of RF Navy's Black Sea Fleet returned to their permanent locations after "Kavkaz-2020" maneuvers
15:29 New railway bridge over Kolar river put into operation in Murmansk Region
15:13 BIMCO to push for international guidelines for ship/shore communication at IMO
14:12 Submersible robot buries power cables for offshore wind farms 5.5 metres below seabed to the north of Maasvlakte
13:53 Moscow Exchange registered debut bond issue by FSUE "Rosmorport"
13:30 Blanket repair begins at Beloomut dam’s second section
13:12 Busan Port Authority concludes an agreement to establish a smart maintenance system for port facility
12:54 Average spot market price for Russian M100 product fell to RUB 11,773 pmt
12:11 Abu Dhabi Ports acquires MICCO to become a leading provider of fully integrated supply chain logistics solutions
11:36 RF Government approves National Programme for Far East Development
11:13 Aker Solutions awarded subsea contract for Breidablikk
10:51 Hornsea Two monopile installation scheduled to start next month
10:21 Shipbuilding, Ship Repair Corporation launches non-self-propelled suction hopper dredger of Project 4395
09:52 Tallink suspends operation of Helsinki-Riga route until end of October
09:30 Tallink changes weekend operating schedule of Tallinn-Helsinki route shuttle vessel Star
09:14 Baltic Dry Index as of September 25
08:48 MABUX: Bunker market this morning, Sept 28

2020 September 27

16:43 Milaha signs key deal with major oilfield services firm
15:31 RINA and SDARI: an innovative step towards 3D ship classification
14:28 Belfast Harbour is hosting an innovative study which could help change the way ports and harbours manage air quality
13:48 ABP invests £10 million to repair Swansea West Pier
12:49 Huntington Ingalls Industries restores drinking water, conducts steam testing during USS George Washington (CVN 73) refueling and complex overhaul
12:03 The Manor Endurance sets sail for her first charter
11:29 NYK and JMU introduce shipbuilding contract that guarantees propulsion in actual sea conditions

2020 September 26

15:52 Port Freeport enters partnership with CEMEX Servicios Logisticos and Union Pacific Railroad
14:32 Coast Guard rescue two mariners from disabled catamaran near Oahu
13:43 NAT orders two -2- Suezmax newbuildings in South Korea
12:38 JAXPORT CEO Green named one of Florida’s top business leaders for third year in a row
12:06 Northwest to Midwest: New rail service builds on NWSA’s intermodal growth
11:02 IUMI: Loss prevention remains a vital element in ensuring the insurability of maritime risk
10:53 Huntington Ingalls Industries breaks ground on unmanned systems center of excellence

2020 September 25

18:07 Tripartite agreement signed on establishing the FSRU terminal in the Bay of Gdansk
17:55 Baltic Fuel Company shipped first batch of bitumen
17:39 Scorpio Bulkers announces purchase of shares by Scorpio Services
17:34 Vessel “Razul Rza” sent to outer waters after the repair works
17:12 Metal Shark debuts 48-meter catamaran expedition vessel and introduces "Metal Shark Yachts" portfolio
16:51 Ningbo Containerized Freight Index rises significantly in September
16:19 OOCL's service update for Trans-Pacific trade