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  • MABUX: Bunker market this morning, Dec 18
  • 2019 December 18 10:49

    MABUX: Bunker market this morning, Dec 18

    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 upward changes on December 17:

    380 HSFO: USD/MT – 365.37 (+4.31)
    180 HSFO: USD/MT – 406.70 (+4.20)
    MGO: USD/MT – 684.60 (+5.33)


    Meantime, world oil indexes also increased on Dec.17 on optimism the partial U.S.-China trade pact will bolster demand.

    Brent for February settlement increased by $0.76 to $66.10 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for January rose by $0.73 to $60.94 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $5.16 to WTI. Gasoil for January delivery added $6.75.

    Today morning oil indexes slide down after the American Petroleum Institute (API) reported a large build of weekly crude inventories.

    According to American Petroleum Institute (API), oil inventories rose by 4.7 million barrels last week. It was forecasted to show a drawdown of 1.3 million barrels. The U.S. Energy Information Administration(EIA) reports its weekly numbers today in the evening. At the same time, the EIA said on Dec.16 that it expected American shale production to rise by 30,000 barrels a day to around 9.14 million in January.

    Sino-U.S. trade optimism were said to be limiting losses of oil prices today. A phase one trade deal was agreed between the U.S. and China last week, easing some concerns over the economic impact of a prolonged dispute between the world’s two biggest oil importers. Under the agreement, Washington suspended planned tariffs on Chinese goods in exchange for Beijing purchases of agricultural, manufactured and energy products increasing by about $200 billion over the next two years.  However, there is some skepticism over how much products Beijing will actually purchase. It is also unclear when the next phase of negotiations will begin.

    Some said the wording of the agreement, which will be officially signed in January, “remained a delicate issue.” Both sides want to make sure expressions used in text did not re-escalate tensions and deepen differences, according to the report.

    Also supporting prices, the Organization of the Petroleum of Exporting Countries (OPEC) and allies like Russia – a grouping known as OPEC+ – are making a further oil supply cut of 500,000 barrels per day from Jan. 1 to support the market.
    This comes on top of the existing deal to trim supply by 1.2 million bpd that came into effect on Jan. 1 this year.

    U.S. economic numbers are also support the indexes. The data from the Federal Reserve showed manufacturing output rose more than expected in November, as the end of a strike at General Motors plants boosted auto production. U.S. housing starts also rose more than expected last month, figures showed.

    We expect bunker prices to rise today: 3-5 USD up for IFO, 5-7 USD up for MGO




2023 February 6

20:51 Russian Railways CEO confirms plans on launching new traffic to Lavna port in December 2023
18:30 Portsmouth International Port to accept an offer from Scottish and Southern Energy Network to secure extra power supply
18:03 Freeport of Ventspils Ro-Ro cargo volumes up 4% to 2.35 million tonnes in 2022
17:28 The National Fund of Greece confirms eight investment schemes in the tender for the development of Volos Port
16:47 K Shipbuilding receives $175m order from Al Seer Marine for the construction of four tankers
16:24 Fuel oil shipments from Russia to India totalled at least 0.5 million tonnes in January 2023 - Reuters
16:14 RF Government expands programme to compensate expenses for transportation of goods to North-West ports
15:45 Earthquake damages Turkiye's energy infrastructure, major port
15:23 Astrakhan shipyard of USC to commence building dry bulk / container carriers of Project 00108 for North-South corridor in 2023
15:19 BSM managed Service Operation Vessel “Windea Leibniz” finished an extensive upgrade at Ulstein Shipyard in Norway
14:55 DP World container volumes up 1.4% to 79.0 million TEUs in 2022
14:35 IHC Dredging delivers Beagle 4 to Gebr. van der Lee
13:51 Rosmorport announces tender for dredging on Volga-Caspian Shipping Canal
12:49 INPEX Corporation completes ammonia bunker barge study - Ship & Bunker
12:37 Ba Ria-Vung Tau province ready to support foreign car carrier on fire
11:42 Equinor and SSE Renewables carry out early scoping work on potential 4th phase of Dogger Bank Wind Farm
11:39 OceanPal Inc. announces appointment of Robert Perri as CEO
11:24 Accelleron signs Turbo MarineCare agreement with Associated Maritime Company (Hong Kong)
11:23 Turkish shipyard to build two ferries for CMAL
10:08 NYK Line posts 9M and 2023 FY results
09:55 First serial production of hydrofoils to be established in Moscow Region
09:29 EU and G7 adopted further price caps for seaborne Russian petroleum products

2023 February 5

15:41 Stena Drilling sign a new contract with UK's Ithaca Energy for Stena Spey
13:19 New partnership aims to take Norwegian offshore wind to the next level
11:07 Hundreds evacuated after fire ignites on cruise ship in Sydney, Australia
09:38 Shell LNG bunker barge launched in Spain

2023 February 4

15:21 Milaha and Hareket sign a strategic alliance to provide integrated heavy lift and oversized transportation services
14:29 DOF awarded EPRD contract by Equinor
13:14 The Port of Sagunto doubles its natural gas traffic by 2022
11:03 GTT obtains funding from Bpifrance for the MerVent 2025 project, winner of the "Corimer 2022" call for expression of interest

2023 February 3

18:22 IAA PortNews’ summary of past week news
18:07 Port of Tallinn and Utilitas Wind to cooperate on the development of offshore wind farms
17:50 Gazpromneft Marine Bunker to supply 10,000 t of LNG for bunkering of Rosmorport’s ferries operating on Ust-Luga – Kaliningrad line
17:43 New container line connects the Port of Gothenburg with Iceland
17:23 OX2 and the Bank of Aland plan a Mega Green Port project in Aland
17:08 Sovcomflot’s new oil tanker Okeansky Prospect underwent first loading at port Kozmino
16:31 CMA CGM revises its NC Levant service connecting North Europe with East Med/Levant area
16:12 SCZONE and Hungarian HEPA will sign an expected joint agreement by the end of the month
15:46 DNV white paper outlines suggestions to achieve a sustainable maritime ecosystem in India
15:03 NYK Line receives 1st LNG-powered car carrier from China Merchants - Offshore Energy
14:32 PIL strengthens SEA linkages with new Thailand Philippines Straits Service
14:25 Atomflot and Baltiysky Zavod sign contract for construction of fifth and sixth nuclear-powered icebreakers of Project 22220
14:02 Niestern Sander signs contract for conversion project multipurpose offshore vessel
13:42 Maersk North America and Ashdod Port Company sign agreement to collaborate on logistics and supply chain innovation
13:24 Drydocks World and Aker Solutions form joint venture to upgrade production at UK’s Rosebank oil and gas field
12:54 Fincantieri holds float out ceremony for the third luxury cruise ship for Regent Seven Seas Cruises
12:36 Flood of Russian fuel oil into Singapore boosts bunker margins - Ship & Bunker
12:16 Vyborg Shipyard and Atlantrybflot sign acceptance/delivery certificate for lead factory freezer trawler of Project KMT02.02
12:13 Eight shipyard workers injured in blast on Vietnamese bulk carrier
11:38 RF Government postpones acquisition of two Kometa 120M hydrofoils again
11:32 China boosts imports of fuel oil blended from Russian barrels - Reuters
10:53 DP World wins bid for development of a mega-container terminal at India’s Deendayal Port
10:31 Fujairah VLSFO sees biggest daily gain since July - Ship & Bunker
10:19 Railway ferry Baltiysk to return to Ust-Luga-Baltiysk line on 13 February 2023
09:57 ZIM upgrades its Asia-US East Coast ZXB service
09:21 Rosatom supports 6th Modern Solutions for Hydraulic Works Conference as its Partner

2023 February 2

18:07 ZIM introduces a new premium line from South America West Coast to US East Coast
17:41 Italian ship makes record journey into Antarctic
17:25 WinGD demonstrated its latest X-DF-2.0 technology, on-engine iCER, to several LNG carrier owners
17:17 STX Dalian shipyard rebooted as Hengli Heavy Industry - Seatrade