• 2019 October 1 08:34

    MABUX: Bunker market this morning, Oct 01

    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) demonstrated firm downward evolution on Sep.30:

    380 HSFO - USD/MT – 417.73 (-21.78)
    180 HSFO - USD/MT – 456.70 (-22.16)
    MGO - USD/MT – 668.58 (-2.48)

    Meantime, world oil indexes slipped on Sep.30  as China’s economic outlook remained weak even as manufacturing data improved, with the continuing trade war with the United States weighing on demand growth for the world’s largest crude importer.

    Brent for November settlement decreased by $1.13 to $60.78 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for November delivery fell by $1.84 to $54.07 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $6.71 to WTI. Gasoil for October lost $12.00.

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

    China’s official Purchasing Managers’ Index (PMI) rose to 49.8 in September, slightly better than expected and advancing from 49.5 in August, expanded for a second straight month as Chinese factories ramped up production and new orders rose. However, it remained below the 50-point mark that separates expansion from contraction on a monthly basis. Meantime, China warned on Sep.30 of instability in international markets from any decoupling of China and the United States, after sources said that U.S. President Donald Trump’s administration was considering delisting Chinese companies from U.S. stock exchanges.

    Saudi Arabia has restored capacity to 11.3 million barrels per day after an attack on its processing facilities this month, though Saudi Aramco has yet to confirm it’s operations have been restored fully. While Saudi Arabia is maintaining exports by using crude from inventories and spare production capacity, it remains unclear how much of its output has actually been restored. Saudi Arabia also warned that oil prices could spike to “unimaginably high numbers” if the world does not come together to deter Iran, but it would prefer a political solution to a military one.

    The US Energy Information Administration (EIA) has projected that world energy consumption will grow by nearly 50% between 2018 and 2050 – with much of the increase coming from non-OECD Asia. The EIA also noted that natural gas and petroleum product consumption is rising in Asia faster than supply is growing, which it said could potentially shift global trade patterns and infrastructure investments. In contrast to energy consumption growth in Asia, EIA projects in the IEO2019 that crude oil production will be concentrated in the Americas, Russia, and the Middle East.

    Freight rates for shipping naphtha and other clean oil products from the Middle East to Japan have jumped 13% to their highest levels in nearly two weeks after Washington imposed sanctions on tanker subsidiaries of China’s COSCO. Rates for crude and oil products tankers have shot up as traders avoided ships linked to COSCO Shipping Tanker (Dalian) Co, Ltd, after the sanctions were announced. Still, the Saudi oil attacks in mid-September had a larger impact on naphtha as it has sent spot premiums soaring to levels not seen since the first-half of 2018.

    Because of long lead times for LNG projects, there is often imbalance between supply and demand. A wave of projects came online this year, pushing prices down to decade-lows. But by 2021, very few new projects will hit the market, a legacy of the shortfall in investment from several years ago during the market downturn. That could lead to market tightness in the early- to mid-2020s.

    We expect bunker prices may continue firm downward trend today in a range minus 6-12 USD.




2021 April 20

12:30 Port of Helsinki cargo traffic up 3.6% in Q1 2021
12:11 Port of Antwerp expands its fleet with energy-efficient tugs
11:59 Investments at the Port of Gdynia – earlier than planned
11:18 Crowley completes first U.S. design for fully electric tug with autonomous technology
11:06 Admiralteiskie Verfi shipyard commences mooring trials of diesel-electric submarine named Magadan
10:35 Northern Dvina Basin Administration opens navigation season of 2021
10:07 SMW 2021: Maritime innovation in Singapore receives boost
09:48 KN and AFRY sign agreement on long-term capacity allocation and pricing model study of Lithuanian LNG terminal
09:29 Oil prices rise on OPEC+ expectations
09:12 Baltic Dry Index as of April 19

2021 April 19

18:47 550 industry leaders discussed navigating maritime industry transformation through collaboration
18:30 Offshore International joins forces with Mammoet to deliver turnkey logistical solutions
18:16 Industry collaboration to develop guidance on the safe use of Ammonia as a fuel
17:57 RFC to provide personal scholarships to naval cadets
17:36 Milaha and Schlumberger commence well stimulation vessel operations in Qatar
17:16 CMA CGM launches SERENITY deductible guarantee
17:06 Dublin Port volumes down by 15% in Q1 2021
16:49 Rosmorport continues ensuring safe pilotage of gas tankers arriving from Russian Arctic to LNG handling facility
16:30 BAR Technologies and Yara Marine partner to bring WindWings to global shipping market
16:03 4th Advanced Maritime Leaders’ Programme to focus on leadership in times of global crisis
15:37 Average spot market price for Russian M100 product fell to RUB 22,219 pmt
15:36 Wärtsilä navigation systems to secure safe and efficient operation for 10 LNG gas carriers in Arctic operations
15:15 Throughput of Port Vanino in 3M’21 rose by 7%
14:48 Ten companies and one individual recognised for contributions to Maritime Singapore at Singapore International Maritime Awards 2021
14:22 BLRT Group builds unique Launch and Recovery System for Namibian offshore diamond recovery vessel
13:43 Economic effect of Sea Port of Saint-Petersburg’s production system project exceeded RUB 100 million
13:21 Equinor reveales the deviation in quality of welding and inspection of the Johan Castberg production vessel
12:46 Resilience, digitalisation, decarbonisation and talent take centre stage at Singapore Maritime Week 2021
12:12 DP World, UAE Region is the first in the region to explore the Quantum Computing technology
12:02 RF Government approves roadmap on implementation of Arctic Development Strategy
11:41 Samskip to participate in new Norwest Baltic Route
11:10 Klaveness Combination Carriers offers low-carbon freight to the growing Australian lithium industry
10:50 Freeport of Riga took part in international logistics exhibition “TRANSRUSSIA”
10:13 Container throughput of Hong Kong port (China) in January-March 2021 rose by 2.4%
09:45 Port of Helsinki throughput in January-March 2021 rose by 3.6% YoY
09:26 Oil prices are slightly down
09:09 Baltic Dry Index as of April 16

2021 April 18

16:18 USCG says two crewmembers recovered from capsized lift boat
14:27 Port Canaveral to host commercial vessels for U.S. reflag conversion process
13:48 ABP expands customer offer at Port of Garston
13:11 Suez Canal Authority permitted two personnel of the crew members of the Panamanian vessel to leave for urgent personal circumstances
12:34 IACS announces Incoming Council Chair
11:33 Maritime NZ welcomes new Chief Executive
11:03 RMC and TT-Line ink contract for car and passenger ferry duo
10:25 Local start-up Machine Eye wins £75k in funding from Techstart Ventures and Belfast Harbour
09:41 Logistics services in Dunkerque-Port are expanding with innovative solutions
09:17 USCG recovered one crew member Thursday night from missing lift boat crew

2021 April 17

15:41 BW LPG sells VLGC "BW Empress"
14:23 USCG continues search for missing people from capsized vessel
13:19 Silverstream Technologies and Shell successfully complete trials of the Silverstream® System onboard the LNG carrier Methane Patricia Camila
12:33 Contract for two new car and passenger ferries for TT-Line strengthens RMC's order book significantly
11:21 IACS has published its 2020 Annual Review
10:56 KR and HHI Group sign strategic partnership MOU For GHG issue

2021 April 16

18:00 New multi-regional manual for response to maritime pollution incidents gets jointly published by HELCOM and its partners
17:38 ESPO welcomes Port of Durrës as observer member
17:14 Rosatom estimates demand for tankers and bulkers needed under Arctic project till 2028 at 40 units
16:01 Baltic countries benefit from EMSA’s regional RPAS service for enhanced maritime surveillance
15:03 GPA’s March container trade leaps 48 percent
14:49 Baltic Ports Organization’s Digitalization Managers Group held online meeting
14:25 New rail cargo volumes to and from Stockholm Norvik Port