• 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.




2021 June 15

18:36 Port of Rotterdam Authority and RRP launch joint study into Delta Corridor pipelines between the Netherlands and Germany
18:14 Throughput of port Primorsk in 5M’2021 fell by 17% Y-o-Y
17:53 Average spot market price for Russian M100 product rose to RUB 22,962 pmt
17:32 Russia’s State Duma passes bill on nearshore fishery
17:05 Ørsted plans carbon capture at Avedøre Power Station as part of the Green Fuels for Denmark project
16:50 Throughput of port Kavkaz in 5M’2021 fell by 23% Y-o-Y
16:35 TECO 2030 to cooperate with Chart Industries, Inc. on developing marine carbon capture and storage solutions
16:05 EPS joins ammonia bunker study
15:35 NYK to build 12 LNG-fueled PCTCs
14:51 Throughput of port Vyborg in 5M’2021 rose by 34% Y-o-Y
14:27 Throughput of port Vysotsk in 5M’2021 fell by 10% Y-o-Y
13:49 DNV launches new Compliance Planner tool for easy regulatory tracking and compliance
13:48 Throughput of Taganrog port in 5M’2021 climbed by 16% Y-o-Y
13:20 Krasnoye Sormovo shipyard delivers dry cargo carrier Viktor Andryukhin
12:56 Port of Ust-Luga throughput in 5M’2021 fell by 3% Y-o-Y
12:35 RF Government approves draft law on regulation of offshore handling operations
12:33 Major contract for Payra Port’s next dredging phase awarded to Jan De Nul
12:07 Samskip Multimodal secures key approval to restart trailer transport by rail through Denmark
11:49 Throughput of Port St. Petersburg climbed by 2% in 5M’2021
11:28 VIKING signs contract for five more Hellenic Coast Guard ambulance boats
11:02 Port of Helsinki throughput in January-May 2021 rose by 7.4% YoY
10:52 2 MOL-operated vessels recognized by Japan Meteorological Agency for ongoing contributions to weather research and forecasting
10:37 Throughput of port Shanghai (China) in 5M’2021 rose by 15% YoY
10:14 APM Terminals Yucatan 2 years without accidents
09:59 Institute for the World Economy study underlines the importance of the Kiel Canal for all of Germany and Europe
09:53 Port of Ventspils throughput in January-May 2021 fell by 12% YoY
09:35 Oil prices rise driven by demand prospects
09:18 Baltic Dry Index as of June 14
08:47 MABUX: Global bunker prices do not have firm trend on June 15

2021 June 14

17:46 Fincantieri and MSC celebrate the start of construction of “Explora I”,
15:52 ABS and 22 industry players to study ammonia as an alternative marine fuel
15:18 ICS Guidance for Ship Operators and Roadmap for vaccination of seafarers
14:09 Bollinger submits proposal for U.S. Coast Guard Heritage-class offshore patrol cutter
13:19 Genco to jointly study ammonia as an alternative marine fuel
12:31 Wärtsilä brings Power-to-X technology to World Expo
11:57 Trafigura joins cross industry study into the adoption of green ammonia as an alternative marine fuel
11:24 DFDS: Freight up 31% following lockdowns in 2020
10:32 SEACOR Marine announces debt payoff agreement
09:47 Kick off “Joint Study” framework for studying ammonia as an alternative marine fuel
09:13 MABUX: bunker indexes may change irregularly on June 14

2021 June 13

15:31 Petrobras signs contract for the supply of eighth Búzios unit
14:18 Lyon Shipyard to invest $24.4 million to expand its operation in the City of Norfolk
13:29 Shearwater GeoServices recycles Western Trident as part of its fleet renewal strategy
12:41 MCA to carry out unannounced inspections of fishing vessels
11:42 The 126-passenger expedition cruise vessel National Geographic Resolution hits the water
10:56 Saipem: Inauguration of Saipem Guyana offshore construction facility in Georgetown

2021 June 12

16:09 Fred. Olsen Cruise Lines unveils brand new sailings aboard new ships Bolette and Borealis in 2022
14:21 "Blowdown" to reduce risk and raise decommissioning progress
13:42 Roambee announces a strategic investment from and partnership with PSA unboXed
13:19 Belfast Harbour awards £25,000 to community projects
12:41 Maurice GEORGES named as new Chair of the Executive Board of Dunkerque-Port
11:38 AIDA Cruises resumes holiday voyages from July 29, 2021
10:52 OptiLink: A digital revolution in ballast water management

2021 June 11

18:07 LNG consumption as a marine fuel has almost doubled in 2020
17:31 Hapag-Lloyd to provide full transparency on vessel arrivals
17:09 MOL joins international think tank and accelerate development for carbon capture, utilization and storage
16:58 GTT obtains tank design order for two new LNG carriers from Samsung Heavy Industries
16:52 Shipping industry welcomes Nigeria’s creation of ‘Deep Blue’ to stamp out piracy in the Gulf of Guinea
16:24 Stena Line will move its Europoort-Killingholme service to Immingham
16:00 Yantar shipyard to build rescue ship of Project MPSV06M for Marine Recue Service