• 2019 October 30 10:37

    MABUX: Bunker Market this morning, Oct 30

    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) decreased on Oct. 29.

    380 HSFO - USD/MT 360.93 (-2.61)
    180 HSFO - USD/MT 402.74 (-2.53)
    MGO - USD/MT 6689.75 (-2.04)


    Meantime, world oil indexes demonstrated slight irregular changes on Oct.30

    Brent for December settlement increased by $0.02 to $61.59 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for December delivery fell by 0.27 to $55.54 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $6.05 to WTI. Gasoil for November delivery declined by $0.50.

    Today indexes decline after the American Petroleum Institute (API) reported that U.S. oil inventories rose last week.

    The API said that crude inventories rose by about 600,000 last week. The market now expects that the Energy Information Administration’s government data to show a rise of 494,000 in crude inventories. Crude stocks at the Cushing, Oklahoma, delivery hub for WTI rose by 1.2 million barrels.

    Oil indexes were also dampened by lower demand growth for 2019 and 2020 anticipated by the International Energy Agency (IEA). While noting that demand rose by 800,000 barrels a day in July and 1.4 million barrels a day in August, the IEA has lowered its forecast for demand growth in 2019 by 100,000 barrels per day to around 1 million bpd and reduced its forecast for 2020 by the same amount to 1.2 million bpd.

    Demand concerns remain strong amid the 16-month old trade war between the United States and China, which has hit economic growth around the world, sapping demand for oil. The United States and China were continuing to work on an interim trade agreement, but it may not be completed in time for U.S. and Chinese leaders to sign it next month, a U.S. administration official said.

    Russia's deputy energy minister also said on Oct.29 it was too early to talk of deeper output cuts by OPEC and its allies, adding to the pressure on the market. Chinese oil trader Unipec has restarted using tankers owned by state-owned shipping group COSCO after the United States eased sanctions temporarily on the Chinese state-owned shipping group. In one of the biggest sanctions actions taken by the U.S. government since its crackdown on Iranian oil exports, Washington imposed sanctions on Chinese tanker companies in late September for alleged involvement in moving crude oil from Iran. Concern over shippers falling foul of the U.S. sanctions sent oil freight costs to record highs around the world, adding millions of dollars to the cost of every voyage. Last week, Washington gave temporary approval for companies to wind down transactions with the designated COSCO subsidiaries. It was unclear if this only applied to tankers that were not operated by the blacklisted COSCO entities. Shipping sources said last week that at least three other COSCO tankers which were unable discharge their oil due to U.S. sanctions, and chartered by other companies, were on their way to Asia.

    U.S. sanctions on a top Chinese shipping fleet can cause to the less burning of the dirtiest marine fuels at sea at the start of next year. The move to blacklist ships from COSCO on Sept. 24 for allegedly ferrying sanctioned Iranian oil will undercut demand for ships' traditional means of power because a vessel crunch meant fewer docked and attached kit to filter the dirtier fuels. From January 2020, the United Nations International Maritime Organization (IMO) will ban ships from using fuel with a sulphur content above 0.5%, compared with 3.5% now. This high sulphur fuel oil (HSFO) will not be banned outright but allowed if vessels attach at port a cleaning device called a scrubber -- something fewer shipowners and brokers did given the highest profits for freight seen in years. It is estimated that just 2,500 ships will be fitted with scrubbers by Jan. 1 compared with 4,000 initially projected by the IMO.
    However, it projected a rebound in demand as the year goes on and more ships carry out their re-tooling.

    We expect bunker prices may demonstrate slight irregular changes today: within plus/minus 1-3 USD.




2020 July 3

13:12 Alfa Laval wins SEK 130 million offshore order in China
12:26 Throughput of port Azov in 6M’2020 fell by 15% YoY
12:01 ICS launches Guidance for Engine Room Safety
11:47 North-Western Shipping Company merges into Volga-Fleet
11:15 CMA CGM announces FAK rates from Asia to North Europe
10:59 Finnlines announces bunker surcharge for Malmö-Travemünde-Malmö
10:13 Ocean Yield takes delivery of newcastlemax dry bulk newbuilding
10:12 GTT and Zvezda Shipbuilding Complex sign a Technical Assistance and License Agreement for the construction of LNG carriers incorporating membrane tank systems
09:52 Bunker prices changed slightly at the Port of Saint-Petersburg, Russia (graph)
09:34 Baltic Dry Index as of July 2
09:20 MABUX: Bunker market this morning, July 03
09:16 Oil prices start decreasing
09:09 Baleària presents a proposal for the construction and operation of the new passenger terminal in the Port of Valencia

2020 July 2

18:37 CMA CGM announces FAK rates from Asia to the Mediterranean
18:04 ClassNK releases Annual Report on Port State Control
18:04 CMA CGM updates PSS for Reefer Cargo from North Europe, Scandinavia, Poland & Baltic, West Med & Adriatic to the Indian Subcontinent, Middle East Gulf & Red Sea
17:52 Glavgosexpertiza approves expansion of access canal to Sabetta port
17:35 Royal Niestern Sander delivers the hydrographic survey vessel ‘Geo Ranger’ to Geo Plus B.V.
17:21 Oil shipments via CPC Marine Terminal in 6M’20 climbed by 2.2% YoY
17:04 Kongsberg Digital acquires Danish maritime software company COACH Solutions
16:55 Federal government waives the traffic dues for the Kiel Canal until 31.12.2020
16:45 Fincantieri subsidiary INSIS acquired a majority share in Support Logistic Services
16:23 Webinar “Pusher-tugs as a pivot of river transportation chain. Will we have them built?” slated for 8 July 2020
16:04 IPCSA launches the Network of Trusted Networks
15:42 Shipbuilding facility of Neptun CDB in Novaya Ladoga lays down two cruise ships of Project PV20S
15:20 New transshipment terminal soon to become operational at the Port of Gothenburg
15:04 250,000 m2 of rooftop solar panels to be installed in the port of Amsterdam by 2024
14:23 MABUX releases weekly review of global bunker market
14:03 Nippon Paint Marine completes the extensive re-coating of the 1911-built cargo ship
13:29 Cargo traffic within Azov-Don Basin of Russia’s IWWs fell by 5% in 6M’20
13:05 Premiere for Rolls-Royce's first MTU gas engines in new Doeksen ferry
12:44 Bunker prices are slightly up at the Far East ports of Russia (graph)
12:22 Rosmorport announced tender for construction of LNG transshipment facility in Kamchatka
12:00 APM Terminals introduces APIs to transform the next generation of terminal data
11:21 Russian Railways' network loading fell by 4.5% in 6M’ 2020
11:03 ECSA calls on the German Presidency to support a stronger European shipping industry
10:47 Bunker sales at Vladivostok port in 6M’2020 fell by 23% YoY
10:29 Damen Maaskant Shipyards Stellendam delivers trawler Jonge Johannes
10:24 Tallink Grupp makes strategic future investment and purchases ro-pax vessel Sailor
10:02 Oil prices continue rising
09:59 Yang Ming fulfills green promise carbon emission reduced 51% in 2019
09:45 Tallink Grupp adds more departures to Helsinki-Riga and Turku-Tallinn routes for August 2020
09:28 MABUX: Bunker market this morning, July 02
09:23 Inaugural meeting of the international advisory panel on maritime decarbonisation
09:18 Baltic Dry Index as of July 1

2020 July 1

16:18 COVID-19 dampens long-term energy demand and highlights scale of climate emergency
15:52 Konecranes receives order from Louisiana for two portal harbor cranes
14:26 Panama emphasises its support for seafarers' rights
13:43 DNV GL grants type approval for Aquarius UV / EC BWMS
12:36 ICS: Global shipping fleet to sound horns on 8 July to remind governments over need for urgent crew change
11:09 Aker Solutions awarded letter of intent for Askeladd Vest
10:33 MABUX: Bunker market this morning, July 01
10:09 Damen delivers custom RHIB to Naarden Lifeboat
09:37 GTT receives a new order from DSME for the design of two large Floating LNG Storage Units

2020 June 30

19:07 Wan Hai Lines to launch Taiwan to Vietnam and Thailand services coverage
18:37 Valenciaport joins the “World Aids to Navigation Day” with the lighting of its headlights
18:12 Third stage of "Sea Cup 2020" competition begins
18:07 BPA attempts to cut fine dust level in Busan Port by developing green equipment
18:02 Damen concludes keel laying on 75-metre crane barge for a project in Panama
17:50 Bunker prices decrease at the Port of Saint-Petersburg, Russia (graph)