• 2019 July 19 09:50

    MABUX: Bunker market this morning, July 19

    MABUX World Bunker Index (consists of a range of prices for 380 HSFO, 180 HSFO and MGO (Gasoil) in the main world hubs) continued moderate downward evolution on July 18:

    380 HSFO - USD/MT - 427.85 (-5.32)
    180 HSFO - USD/MT - 463.04 (-4.47)
    MGO - USD/MT - 659.30 (-6.38)


    Meantime, world oil indexes also fell on Jul.18, weighed down by an expectation that crude output would rise in the Gulf of Mexico following last week’s hurricane in the region.

    Brent for September settlement decreased by $1.73 to $61.93 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for August delivery fell by $1.48 to $55.30 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $6.63 to WTI. Gasoil for August lost $14.00.

    Today morning oil indexes have turned into upward correction.

    U.S. offshore oil and gas production has continued to return to service since Hurricane Barry passed through the Gulf of Mexico last week, triggering platform evacuations and output cuts. Royal Dutch Shell, a top Gulf producer, resumed about 80% of its average daily production in the region.

    Meantime, renewed Sino-U.S. trade tensions were also cited as a headwind. U.S. President Donald Trump accused Beijing of not buying U.S. farm products as agreed and said a trade deal with China might not be concluded in the near term. The president also threatened to slap additional tariffs on Chinese goods.

    Facing vigorously enforced U.S. sanctions directed principally on oil, Iran is focussing on the less targeted strategic areas in its hydrocarbons business, notably continuing to develop its gas sector and building out its petchems and related capacity. One such area is the generation of sufficient gasoline at least to meet its own needs, as its reliance on other countries during the previous sanctions era was seen as a national humiliation. Despite the worsening sanctions environment, Iran is now not only self-sufficient for gasoline but is rolling out plans to allow it to export the product.

    Risk Intelligence has warned that the attacks against tankers off Fujairah in May and in the Gulf of Oman in June are likely to be a part of a larger plan by Iran’s government, involving strikes against targets that are somewhat linked to the United States and its Arab allies. Risk Intelligence noted that the situation has had a direct impact on the threat to shipping operations in the Persian Gulf. The Company has published a whitepaper which includes several scenarios outlining the potential impact on shipping operations in the Persian Gulf over the coming months, highlighting the need for contingency plans and relevant mitigation measures.

    Iran’s Revolutionary Guard said on Jul.18 that it seized a foreign oil tanker, which it claims was smuggling 1 million liters of fuel near the island of Larak in the Persian Gulf on Sunday. The recent Middle East conflict come amid reports of a softening rhetoric between Iran and the U.S. officials, which could push crude and fuel prices higher as new supplies hit the market if energy-export sanctions are lifted. However, market mostly expressed skepticism about a near-term Tehran-Washington resolution, with testiness between the countries providing support for energy prices.

    Russia’s oil production in the past few days has recovered to the ceiling that Moscow has pledged in the OPEC+ deal. Russia’s oil production in the first days of July averaged 10.79 million bpd, the lowest level since August 2016, when production stood at 10.71 million bpd. Despite the rise in the June production, Russia was still complying, for a second month in a row, with its pledge under the OPEC+ deal in which it vowed to reduce production by 230,000 bpd from October’s post-Soviet record level of 11.421 million bpd, to 11.191 million bpd.

    We expect bunker prices may continue downward trend today in a range of minus 8-12 USD.




2019 September 22

17:03 Höegh increases its frequency to Australia
16:21 USCG Cutter Seneca offloads more than 12,000 pounds of cocaine in Miami
15:16 Algoma announces agreement to acquire Croatian-built dry-bulk carrier
13:03 Van Oord: Second Sand Motor successfully completed
12:47 Ørsted to pioneer deployment of GE’s next generation offshore wind turbine
11:39 ZPMC orders compressors to pipelay vessel

2019 September 21

16:17 USCG responds to breakaway barges striking I-10 San Jacinto River bridge
15:14 Eastern Shipbuilding launches the C.D WHITE for E.N. Bisso & Son
14:06 Boskalis associate Smit Lamnalco signs first 10-year terminal services contract in Mozambique
12:52 Kongsberg wins first full-scope expedition cruise vessel tender, with gensets and propulsion equipment
11:34 Rauma Shipyard bags Finnish Navy's four corvettes order

2019 September 20

18:41 Vostochny Port joins Coordinating Council on Trans-Siberian Transportation as its permanent member
18:22 IAA PortNews offers photo release from 'Development of Icebreaking and Support Fleet' conference held on NEVA 2019 zero-day
18:05 Global Ship Lease announces new five-year $268 mln credit facility for debt refinancing
17:24 Vostochny Port’s harbour services fleet presented at dedicated conference in Saint-Petersburg
17:05 F. A. Vinnen places entire fleet with Verifavia Shipping & Rina for IHM services
16:50 Helsinki Shipyard (Finland) to build two liners for polar cruises
16:35 COSCO SHIPPING Ports announces disposal of interest in various port assets and possible disposal of Taicang Terminal and Jiangsu Petrochemical Terminal
16:21 ABB presents electric power and propulsion solutions for icebreaking vessels at NEVA 2019
16:05 Port of Los Angeles protects overall clean air gains
15:19 Port of Riga rapidly increases volume of handled wood pellets
14:53 South Korean port to slash passenger vessel emissions with ABB shore power
14:15 Krasnoye Sormovo launches Pola Pelagia, dry cargo carrier of Project RSD59З, for Pola Rise
13:30 Damen Shipyards Group is ready to ensure construction of electric water buses for rivers and canals of Saint-Petersburg and Russia
13:12 MSC Cruises and Fincantieri unveil further details of MSC Seashore at coin ceremony
12:24 Victor Olersky sees promising future of electric river passenger ships in Saint-Petersburg and in Russia
12:09 Algoma Central Corporation announces agreement to acquire Croatian-built vessel
11:28 Specifications for 0.50% sulphur fuels and the PAS from ISO: IBIA explains
11:09 GTT obtains Approval in Principle from Bureau Veritas for the Mark III Flex technology on ice-breaking LNG carriers
10:52 IBIA and S&P Global Platts collaborate to help shipping industry comply with IMO 2020
10:31 Workshop for training on emergency response, preparation and planning held in Manila
10:09 Van Oord and Shell test the use of biofuel on trailing suction hopper dredger HAM 316
09:50 State Duma ratifies Convention on the Legal Status of the Caspian Sea
09:33 Brent Crude futures price is up 0.20% to $63.73, Light Sweet Crude – up 0.98% to $58.7
09:25 Lloyd’s Register, China Merchants, GTT, CNOOC, DSIC form jv to design LNG-fuelled VLCC
09:17 Baltic Dry Index is down to 2,192 points
08:58 MABUX: Bunker Market this morning, Sept 20

2019 September 19

18:04 Bibby Marine Services takes the next step to optimize walk-to-work operations
17:56 Marinet approves Poseidon maritime cyber security project
17:37 American Ethane reveals plans to order 17 VLECs
17:34 Wärtsilä’s Board of Directors decided on the distribution of the second dividend instalment
17:22 Marinet approves T2OT project for high accuracy positioning of seagoing vessels
17:04 VARD secures advanced stern trawler contract with Luntos
16:50 Average wholesale prices for М-100 HFO down to RUB 14,328 in RF spot market
16:34 Zeebrugge port authority invests in new 1,071 meter quay wall
16:04 RINA to classify Swedish Maritime Administration fleet
15:53 Marinet set to establish exports support center in Finland in 2020
15:34 MacGregor secures orders worth more than EUR 20 million for projects in Europe and Asia
15:05 Wärtsilä foresees a lower result for 2019
14:31 North Pole ice-resistant platform presented by Admiralteiskie Verfi at NEVA 2019
14:09 ABS announces LNG Cargo Ready notation for ethane carriers at Gastech 2019
13:46 Hyundai Heavy Industries receives AIP for new LPG carrier design
13:03 Bunker prices go up at the Far East ports of Russia (graph)
12:40 ABS and AEC сollaborate on newbuild VLEC fleet
12:17 Murmansk Sea Fishing Port handled 171,200 tonnes of cargo in 8M’2019, down 28.5% Y-o-Y
11:58 PortNews-TV offers video on naming ceremony for PortNews tanker
11:36 International symposium on Anthropogenic Underwater Noise held in Hamburg on 10 September
11:09 LR awards DSME AiP for 98,000 m3 VLEC design with High MnA steel tank
10:42 Ships of RF Navy’s Caspian flotilla take part in Tsentr 2019 maneuvers
10:09 Singapore and Panama ink MoU to strengthen maritime relations