• 2019 October 9 08:29

    MABUX: Bunker Market this morning Oct 09

    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 slight upward changes on Oct.8

    380 HSFO - USD/MT 392.71 (+0.54)
    180 HSFO - USD/MT 430.27 (+0.04)
    MGO - USD/MT 661.50 (+3.23)

    Meantime, world oil indexes also demonstrated downward changes on Oct.8. as tensions rose between China and the United States ahead of high-level trade talks.

    Brent for December settlement decreased by $0.12 to $58.24 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for November delivery fell by $0.12 to $52.63 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $5.61 to WTI. Gasoil for October delivery decreased by $10.00.

    Today indexes slight down as prospect of the United States and China striking a trade deal in talks this week is unlikely, that raise uncertainties for global economic growth and oil demand.

    The Trump Administration was moving ahead with efforts to limit capital flows into China and the inclusion of more Chinese firms in a blacklist. Washington widened its trade blacklist to include some of China’s top artificial intelligence start-ups, punishing Beijing for its treatment of Muslim minorities and ratcheting up tensions ahead of trade talks in Washington this week. A South China Morning Post report that said China had toned down expectations ahead of high-level trade talks between the two countries that are to resume on Thursday, after being stalled since May. The report said the Chinese delegation could depart Washington a day earlier than scheduled. An increase in U.S. tariffs to 30% from 25% on $250 billion worth of Chinese goods is scheduled for Oct. 15. Prospects for progress dimmed after U.S. President Donald Trump said a quick trade deal was unlikely.

    According to the American Petroleum Institute crude inventories rose by 4.1 million, with gasoline supplies down by 5.9 million barrels for the week ended Oct. 4. It is expected that the Energy Information Administration will report a build of 1.4 million barrels on its petroleum data today later.

     Oil prices were also pressured by weak economic data after U.S. producer prices fell unexpectedly in September, weighed down by lower costs of goods and services, which could give the Federal Reserve room to cut interest rates again this month.

    The U.S. Energy Information Administration (EIA) on Oct.8 cut its 2020 world oil demand growth forecast by 100,000 barrels per day (bpd) to 1.30 million. The EIA also said U.S. crude production is expected to rise by 1.27 million bpd in 2019 to a record 12.26 million bpd, slightly above its previous forecast for a rise of 1.25 million. International Monetary Fund Managing Director Kristalina Georgieva at the same time warned of a risk of complacency among countries. Without action to resolve trade conflicts and support growth, global economic deceleration could turn into “a more massive slowdown,” she said.

    However, protests in OPEC members Iraq and Ecuador threatened to disrupt their oil output and supported prices. In Iraq, protests resumed overnight in Baghdad’s Sadr City district, though much of the country appeared quieter than it has been for a week. Potential attacks by Turkey on Kurdish forces in northeast Syria could take place close to the Iraqi border, leading to the crisis that puts pressures on Kurdistan’s economy. Turkey said it had completed preparations for a military operation in northeast Syria after the United States began pulling back troops.

    Ecuador’s energy ministry said protests against austerity could reduce its oil output by 59,450 bpd.

    We expect bunker prices to demonstrate slight downward changes today: 1-3 USD down for IFO, 7-10 USD down for MGO.




2020 July 10

19:08 CMA CGM announces FAK rates from Asia to the Mediterranean
18:30 CMA CGM announces FAK rates from Asia to North Europe
18:04 HHLA implements machine learning for the first time to increase productivity
18:01 Port of HaminaKotka throughput in 6M’2020 fell by 14.2% YoY
17:38 Information on the seaport of Murmansk changed in the Register of Russian Seaports
17:13 Thun Tankers takes delivery of the fifth L-class at China Merchants Jinling Shipyard
16:52 Russian Railways: Loading of export cargo bound for domestic ports up 3.3%
16:33 Valenciaport reaffirms its leadership as the first Spanish port at UNCTAD index
16:03 Port of Marseille to maintain €57 million in investments to stimulate the recovery
15:43 DNV GL launch support for new Dynamic Positioning system failure guideline enabling quicker and cost effective implementation
15:30 Volga Shipping Company delivered project cargo to the Caspian Sea
15:13 COVID-19 causes problems for implementing EU legislation - BIMCO
14:48 Throughput of Russian seaports in HI’2020 grew by 0.1% Y-o-Y
14:23 Wärtsilä simulator complex delivered to enhance operations at the Training and Education Office of the Indonesian National Police
14:03 Port of Oakland imports up 1.9 percent in June 2020
13:44 Onezhsky Shipyard delivers hybrid workboats Anatoly Klimov and Victor Vorotylo (video)
13:22 Governments of 12 countries pledge action for seafarers at crucial crew change summit
13:19 GTT receives an order from Hudong-Zhonghua Shipbuilding for the tank design of three new LNG carriers
13:01 Sredne-Nevsky Shipyard commenced making hull of yet another minesweeper of Project 12700, Aleksandrit
12:38 Throughput of Murmansk Sea Fishing Port fell by 12.7% in HI’2020
12:13 Nuclear-powered icebreakers of Rosatomflot assisted 462 ship calls in winter-spring navigation season
11:35 Construction commences on Austal's largest ever ferry
11:04 GIWACAF launches webinar series on oil spill preparedness and response
10:46 FSUE “Rosmorport” takes award-winning place in the annual sailing regatta
10:32 LR to develop structural digital twin for Bluewater FPSO Glas Dowr
10:22 Rosmorport changes tariffs on berth assignment services in Astrakhan and Olya seaports
09:59 Bunker prices are slightly up at the Port of Saint-Petersburg, Russia (graph)
09:37 Oil prices decrease amid concern over demand recovery rates
09:20 Baltic Dry Index as of July 9
09:11 MABUX: Bunker market this morning, July 10

2020 July 9

19:03 OOCL receives Gold Award from the HKAEE for the fourth time
18:10 Aquila Power Catamarans announce a luxuriously versatile new model
17:55 Tallink Grupp’s vessel Sailor to operate on Paldiski-Kapellskär Route from Sunday
17:31 Bunker prices are flat at the Far East ports of Russia (graph)
17:28 Port of Rotterdam to start trial with PIN-free container handling
17:18 Damen holds keel-laying for Port of Auckland’s fully electric RSD-E Tug 2513
17:12 Diana Shipping announces time charter contract for m/v Selina with ST Shipping
16:44 "K" Line participates in JV for FPSO owning and chartering business offshore Brazil
16:23 Jan De Nul Group has started offshore installation activities in Taiwan
16:06 Port of Liepaja throughput in 6M’2020 fell by 15.6% Y-o-Y
15:48 Russia remains in Paris MOU’s White List
15:24 PD Ports submit response to national Freeport consultation
15:03 Khabarovsk Territory Governor Sergey Furgal detained by officials of Russia’s Investigative Committee
14:39 Aibel awarded Oseberg portfolio agreement
13:47 Ukraine is still on Paris MOU’s Black List
13:22 MOL announces joint development of energy-saving rudder
12:50 Container shipments on Russian Railways’ network up 15% in 1H 2020
12:17 Cargo transhipment in North Sea Port falls by more than 11% in first half of year
12:07 ABB teams up with Yinson on offshore oil and gas project in Brazil
11:20 FPSO operators could save £15 million per asset on maintenance
10:42 The CMA CGM Group commits to fight illicit trafficking in protected species and tightens its shipment control procedures
10:10 Unifeeder contracts We4Sea for fleetwide vessel performance monitoring
09:38 MABUX: Bunker market this morning, July 09
09:29 Oil market sees mixed price movements
09:13 Baltic Dry Index as of July 8

2020 July 8

18:11 Carnival Cruise Line sets ship delivery changes and related deployment plans
17:50 POWERGLOBE seeks for 10 years LNG vessel charter-agreement
17:27 Maritime partners unveil Autonomous Guard Vessel
17:03 THE Alliance announces COVID-19 response measures for August 2020
16:48 SaR operation in Singapore: man overboard incident