• 2019 October 8 09:04

    MABUX: Bunker Market this morning, Oct 08

    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 irregular changes on Oct.7

    380 HSFO - USD/MT 392.17 (-0.19)
    180 HSFO - USD/MT 430.23 (-1.26)
    MGO - USD/MT 658.27 (+3.63)


    Meantime, world oil indexes also demonstrated slight irregular changes on Oct.7.

    Brent for December settlement decreased by $0.02 to $58.35 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for November delivery fell by $0.06 to $52.75 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $5.55 to WTI. Gasoil for October delivery increased by $9.00.

    Today indexes rise as unrest in oil-producing countries Iraq and Ecuador raised concerns of supply disruption.

    Protests in Iraq and Ecuador over poor economic conditions are threatening to disrupt output from the members of OPEC. The death toll has climbed after a week of unrest in Baghdad, capital of the second largest OPEC producer. In Ecuador, protests against austerity measures could reduce the Andean producer's crude output by 59,450 barrels per day. Ecuador, one of the smallest OPEC members, is pulling out of the bloc next year because of fiscal problems.

    At the same time, OPEC saw its crude oil production plummet by the most in 17 years in September as the attacks on critical oil infrastructure in its largest producer Saudi Arabia took 5.7 million bpd offline for weeks. OPEC pumped 28.45 million barrels per day (bpd) of crude oil last month, down by 1.48 million bpd from August. The September overall production was also the lowest monthly OPEC oil production level since May 2009. Output in Venezuela further dipped, by another 100,000 bpd to just 600,000 bpd in September. Iran’s crude oil production also fell, by 70,000 bpd to 2.23 million bpd. OPEC is set to release official figures in its Monthly Oil Market Report on Thursday, Oct. 10.

    Trade uncertainties and geopolitical tensions continue to influence the fuel market. Trade war offset initial highs reached by the market on a U.S. decision to stop protecting Kurdish rebels in Syria.

    There are reports that the U.S.-China trade deal talks will be scaled down as the Chinese seem to not want to make any commitments as the Democrats continue to work towards impeachment. At the same time, there is information, that the Chinese had no intent in compromising on laws related to intellectual property. White House economic adviser Larry Kudlow, meanwhile, told that Chinese actions ahead of the trade talks, which included purchase of U.S. commodities, has been encouraging. He said the Trump administration remained optimistic of striking a deal at the talks that are resuming after being stalled in May. U.S.-China trade discussions will take place in Washington on Thursday, Oct.10 although expectations are low for a comprehensive deal that will end a trade war between the world's top economies

    At the same time U.S.-North Korea nuclear talks that resumed at the weekend after a lengthy break broke down due to what media reports described as irreconcilable differences.

    Trump warned in a tweet Monday about severe economic consequences for Turkey if the country does anything “off limits” following the White House’s announcement of U.S. troop withdrawal from Syria. His decision on the troop withdrawal pushed the oil indexes up.

    We expect bunker prices to demonstrate slight irregular changes today: plus/minus 1-3 USD for IFO, 7-9 USD up for MGO.




2024 March 29

10:43 Oasis Marine develops solutions for offshore hydrogen bunkering
10:03 Petrofac secures contract extension with ONEgas West in the UK market

2024 March 28

18:05 Jan De Nul, ENGIE and Equans launch a pilot project centred around the use of Vanadium Redox Flow batteries
17:35 Latvian port equipment manufacturer Bleste introduces new bulk handling ‘bucket’
17:05 Investors upgrade Navios Maritime Partners
16:25 DEME reports 22% increase in the orderbook and a record-high turnover of 3.3 billion euros in 2023
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15:41 AD Ports Group announced the opening of Saadiyat Marina & Ferry Terminal and Rabdan Marina
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14:55 China’s Jinzhao wins Peru $405m port construction contract
14:13 APM Terminals Moín handled six million TEU
13:48 ClassNK grants Innovation Endorsements for Products & Solutions to two innovative initiatives by MOL
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
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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