• 2019 October 2 12:39

    MABUX: Bunker Market this morning, Oct 02

    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) continued downward evolution on October 1.

    380 HSFO - USD/MT 407.81 (-9.92)
    180 HSFO - USD/MT 445.57 (-11.13)
    MGO - USD/MT 663.83 (-4.75)

    Meantime, world oil indexes also demonstrated irregular changes on Oct.1.

    Brent for December settlement decreased by $1.89 to $58.89 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for November delivery fell by $0.45 to $53.62 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of 5.27 to WTI. Gasoil for October delivery decreased by 4.75.

    Today indexes are steady on a surprise drop in U.S. crude inventories.

    According to American Petroleum Institute U.S. crude stockpiles dropped sharply last week, by 5.9 million. It was expected a build of 1.57 million barrels. The Energy Information Administration's weekly oil inventories report is due at 10:30 a.m. EDT (1430 GMT) on Wednesday.

    Oil prices are now below levels from before the Sept. 14 attacks on Saudi oil facilities as the world's largest oil exporter has restored its full oil production and capacity.Despite the attack, Saudi Aramco has succeeded in making all of its shipments in the month of September. The company also managed to restore its oil-production capacity to pre-attack levels, meeting an accelerated two-week timeline announced by the firm earlier this month.

    Saudi oil output was cut in half by an attack on Aramco facilities, an attack that was allegedly orchestrated by Saudi Arabia's arch-rival Iran (though Yemen's Iran-backed Houthi rebels initially took credit for it). In the wake of the attack, oil prices soared, as the kingdom warned that the equivalent of 5.5% of global production had been temporarily taken offline.

    However, growing fears of stalling demand have proved more durable than concerns about supply squeezes due to tension between Iran and Saudi Arabia. A drop in U.S. manufacturing activity fed concerns over a slowdown in energy demand. The Institute of Supply Management’s purchasing managers index posted its lowest reading in 10 years, falling to 47.8 from 49.1 in September and disappointing consensus forecasts of a rebound above 50. The day earlier, similar surveys from Japan to the euro zone and U.K. had also painted a picture of a global manufacturing sector still suffering from the fallout of the U.S.-China trade conflict, Brexit and other concerns.

    Ecuador, meanwhile, announced plans to leave the Organization of the Petroleum Exporting Countries on Jan. 1, 2020 as its government seeks ways to boost revenue. At the same time, speaking at an event in Sochi, Russia, Barkindo, OPEC’s head, said that the OPEC+ alliance of OPEC and 10 non-OPEC producers led by Russia has served the interests of producers, consumers and the global economy over the past three years. The so-called ‘Charter of Cooperation’ of the 24 oil-producing countries could help the global oil market get through external shocks in the future, such as geopolitics, trade tensions, monetary policies, and natural disasters. He noticed that the United States, in its capacity of the world’s top oil producer, has a strategic stake in global supply and demand. The U.S., however, isn’t keen on market-managing policies, and President Trump has often called out OPEC for manipulating oil prices or for keeping them “artificially high.” Other major oil producers, including Canada, Brazil, and Norway, are not part and haven’t expressed desire to be part of the ‘Charter of Cooperation’ either. It’s growing oil supply from the U.S., Brazil, and Norway that has been offsetting OPEC’s efforts to rebalance the market and prop up oil prices.

    Expect bunker prices to demonstrate downward changes today: 8-10 USD down for IFO, 3-5 USD down for MGO.




2021 May 18

18:37 Castor Maritime announces new vessel acquisitions and the delivery of the M/V Magic Vela
18:10 Throughput of port Vyborg in 4M’2021 rose by 476% Y-o-Y
17:48 North Huajin сontracts Dupont Clean Technologies for IsoTherming® Hydroprocessing Technology
17:34 The Grimaldi Group starts ro-ro feeder link between Antwerp and Cork
17:27 Rosmorport announces competition for construction of 18MW diesel-electric ship of Icebreaker7 class
17:05 Eco Marine Power and F-WAVE to develop ship integrated photovoltaic solutions
16:44 Ships of RF Navy's Caspian Flotilla arrived in the area adjacent to Kazakh port of Aktau to participate in a joint naval exercise
16:25 Ardmore Shipping chooses Lean Marine’s FuelOpt™ to enhance fleet efficiency
16:05 GTT will design the cryogenic fuel tanks for twelve new liquefied natural gas fuelled container vessels
15:48 Tanger Alliance at the TC3 terminal in Tanger Med operating at full capacity with eight new Liebherr ship to shore container cranes
15:23 Throughput of port Primorsk in 4M’2021 fell by 23% Y-o-Y
14:59 Ambal ferry returns to Ust-Luga – Baltiysk line
14:30 99 maritime companies, organisations and flag states sign the Gulf of Guinea Declaration on Suppression of Piracy
13:52 Throughput of port Vysotsk in 4M’2021 fell by 5% Y-o-Y
13:24 ABS publishes guidance on the use of biofuels in shipping
13:11 MOL to re-enter ammonia transport business
12:35 Port of Ust-Luga throughput in 4M’2021 fell by 5% Y-o-Y
12:11 Bureau Veritas opens shipbuilding laboratory in South Australia
11:33 Gazprom Neft delivers net profit of more than ₽84 billion in Q1 2021
11:00 Flex LNG enter into time charter party agreement for Flex Constellation
10:34 Throughput of Port St. Petersburg climbed by 1% in 4M’2021
10:09 Seaplace receives LR Approval in Principle for ballast control system
09:50 Throughput of Rostov-on-Don port in 4M’2021 fell by 16%, year-on-year
09:28 Oil prices start rising
09:12 Baltic Dry Index as of May 17
08:39 MOL joins joint development study on ammonia fuel supply chain in Singapore

2021 May 17

18:43 Port of Houston container volumes up 25% in April 2021
18:29 CMA CGM announces PSS for cargo from/to North Europe to/from the Mediterranean & Black Sea
18:03 Lukoil’s hydrocarbon production in 1Q’2021 was 7.6% lower year-on-year
17:41 Port of Tallinn fortified environmental measures in operating areas
17:16 NCSP Group’s cargo turnover in Q1 2021 fell by 19%
16:52 Average spot market price for Russian M100 product fell to RUB 22,851 pmt
16:28 Okskaya Sudoverf wins competition for construction of multifunctional tugboat of 2.5-3 MW
16:05 Stena RoRo's E-Flexer Côte d'Opale delivered to DFDS
15:53 Novatek set to start year round navigation on the Northern Sea Route in 2023-2024
15:34 Metrans doubles number of container trains on the New Silk Road
14:09 Russia approves its Arctic Council Chairmanship program for 2021–2023
13:35 Shipping industry launch the Gulf of Guinea Declaration on Suppression of Piracy
13:11 The Port of València moves 479,171 containers in April and sets monthly and year-on-year records
12:22 Containership ‘HMM NURI’ makes first call in Hamburg
11:00 Seaboard Energy has chosen Topsoe’s HydroFlex™ technology to produce renewable diesel
10:50 Haldor Topsoe to discuss innovation to combat climate change at high-level meeting with US Secretary of State and Danish Minister for Foreign Affairs
10:11 Oil prices fluctuate amid uncertainty caused by coronavirus
09:40 Port of Helsinki throughput in January-April 2021 rose by 4.5% YoY
09:19 Baltic Dry Index as of May 14

2021 May 16

16:23 Port NOLA issues RFP for Louisiana International Terminal preliminary design contractor
15:18 Port Houston TEUs jump 25% in April
14:18 Investigation of the fires at Tjeldbergodden and Hammerfest now concluded, Equinor says
13:42 Unified Command responds to container ship off coast of Monterey
12:38 Eneti places order with DEME for one next-generation offshore wind turbine installation vessel
11:07 Boskalis AGM of shareholders adopts resolutions
10:31 Port of San Diego inks two more leases, reaches 90% occupancy for Seaport Village

2021 May 15

16:53 Terry Federer joins All American Marine as business development manager
15:09 Sites in the Geeste lowlands safeguard port development
14:38 ABB and Millennium Technology Prize celebrate innovation for a sustainable future
14:21 Hopeful outlook for activity at Lerwick Harbour - Lerwik Port Authority
13:19 USCG repatriates 22 migrants from 2 interdictions to Cuba
13:08 Team Transport & Logistics opens its new facility at the Port of Brisbane
12:31 Fleet of ships serving Vale receives first VLOC in the world equipped with rotor sails
11:09 Keel laying ceremony for second Finnlines’ hybrid ro-ro vessel