• 2019 July 29 08:44

    MABUX: Bunker market this morning, July 29

    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 downward evolution on July 26:

    380 HSFO – USD/MT – 415.70 (-1.94)
    180 HSFO – USD/MT – 451.55 (-3.25)
    MGO – USD/MT – 657.07 (-2.19)


    Meantime, world oil indexes changed also insignificant and irregular on Jul.26: the fears of a Middle East showdown in the Strait of Hormuz unable to push up prices after being trumped by greater fears of an economic slowdown and weak demand outlook.

    Brent for September settlement increased by $0.07 to $63.46 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for September delivery gained $0.18 to $56.20 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $7.26 to WTI. Gasoil for August lost $4.25.

    Today morning oil indexes does not have any firm trend so far.

    World experts worry that the U.S.-China trade war will impact global economic growth more than previously expected, despite clear signals from many major central banks, including the Fed, that they would cut rates and ease monetary policies. More than 70 percent of 250 economists polled by Reuters now say a deeper global economic downturn is more likely, compared to around 50 percent in a similar poll in April.

    China produced 95.35 million tons (699.2 million barrels) of crude oil during the first half of the year. This represented a modest 0.8-percent annual increase. The increase in crude oil production, however small, was worth noting. China has been struggling with a decline in domestic oil production caused by a combination of natural depletion and geological challenges that make new production in many cases prohibitively expensive.

    Besides, China imported about 209,000 bpd of oil from Iran in June despite U.S. sanctions. Imports are down from just under 500,000 bpd in the first five months of the year, but the levels are still significant. The data adds to speculation that Beijing may risk running afoul of American sanctions to secure crude supplies from the Islamic Republic. Besides, in June, China is expected to ramp up purchases from other major oil-producing countries in the Middle East, West Africa and Russia to make up for the loss of supplies from Iran.

    Saudi Arabia urged on Jul.25 countries buying crude oil to secure the free navigation of tankers in the Strait of Hormuz, which  is the most important oil chokepoint in the world with daily oil flows averaging 21 million bpd, or the equivalent of 21 percent of global petroleum liquids consumption. Several high-profile incidents in recent weeks and months have raised the tensions between Iran and the West in the Middle East.

    The US oil and gas rig count fell by 8 last week, adding to months of losses, as US oil production falls to lowest levels since October 2018. The total number of active oil rigs in the United States fell by 3 according to the report, reaching 776. The number of active gas rigs decreased by 5 to reach 169. US production fell sharply for week ending July 19 to 11.3 million bpd, more than 1 million barrels down from the all-time high in the United States, and the lowest production level since October of last year.

    Nord Stream 2 AG said on Jul.26 that it had brought action for annulment of the amendment to the Gas Directive before the General Court, because it says the measures extended to pipelines to and from the EU are ‘discriminatory.’ Nord Stream 2 also reserves the option to defend its rights under international law by proceeding separately with arbitration against the EU pursuant to the investment protection guarantees of the Energy Charter Treaty (ECT). Meanwhile, a U.S. Senate committee will now not vote until next week on a bill that seeks to levy sanctions on companies and individuals involved in building the Nord Stream 2 pipeline.

    We expect bunker prices may continue irregular changes today in a range of plus-minus 1-4 USD.




2020 February 27

18:05 European yards specify Thordon System as standard for deck machinery
17:48 IMO's GloFouling Partnership project tackles problem of invasive aquatic species in Sri Lanka
17:29 Tallink Grupp reports nearly 25% higher net profit for the full financial year 2019
17:05 AquaTerra acquires Subsea Engineering and Technical Services
16:51 Zelenodolsk Shipyard named after A.M. Gorky laid down passenger ship Chaika LNG
16:35 Vale clarifies incident with contracted vessel
16:04 NYK Cruises to cancel cruises due to coronavirus
15:30 Average physical depreciation of Rosmorport’s berthing facilities is 24%
15:07 National Association of Shipping Agencies addresses FAS over plans on multiple increase of port dues in Russia
14:56 Arbitration award related to purchase options for four VLCCs on charter to Okeanis ECO Tankers
14:43 ASCO strengthened preventive measures against coronavirus
14:19 ASCO takes necessary precautionary measures to prevent environmental damage
13:55 Rotterdam to host ACI’s 24th Ballast Water Management Conference on 7-8 April 2020
13:53 Ørsted signs 20-year lease with Port of Taichung for Greater Changhua offshore wind farms
13:34 Vysotsk VTS obtains Certificate of Conformity
13:12 Xeneta container rates alert: long-term contracted rates hold despite Coronavirus chaos
12:56 Certificate of Conformity obtained for Ust-Luga VTS
12:33 Finnlines published its 2019 Financial Statements and Financial Review
12:10 A.P. Moller - Maersk links new $5.0bn revolving credit facility to its CO2 performance
11:52 Port of Gdynia seeks opportunities for further development
11:28 Rosmorport’s Murmansk Branch performed pilotage of Capesize vessel
11:04 Rosmorport to complete dredging under NOVATEK’s project in Petropavlovsk-Kamchatsky by April 2021
10:41 3rd Technical Conference "Modern Solutions for Hydraulic Engineering" kicks off in Moscow
10:35 Ships of RF Navy’s Baltic Fleet continue performing planned training as part of its long-distance campaign
10:16 Port of Oakland debt ratings affirmed by Fitch
10:13 Brent Crude futures price is down 1.52% to $51.99, Light Sweet Crude – fell to 1.54% to $47.98
09:56 Hydrographic Department to dredge about 20 million cbm of material on Sabetta’s seaway canal in 2020
09:34 Marine Recruiting Agency LLC trained 1,957 specialists in 2019, up 2.6% YoY
09:32 MABUX: Bunker market this morning, Feb 27
09:15 Baltic Dry Index is up to 517 points

2020 February 26

18:37 Royal IHC to supply integrated power cablelay spread
18:01 Chartwell Marine announces sponsorship agreement with Alan Roberts Racing in the lead up to the 2020 racing season
17:29 Keppel delivers world’s fastest brownfield FPSO modification project
17:26 Busan Port Authority and Samsung SDS signed a contract to operate a logistics center in Rotterdam, Netherlands
17:00 Smart Maritime Council announces support for shipboard machinery data standard
16:23 Damen DOP ensures new approach to dredging – expert opinion
16:00 FSUE Rosmorport to dredge 18.4 million cbm of material in 2020
15:36 Yamal LNG reaches thirty million tons milestone
15:12 MHI-MME receives retractable fin stabilizer orders for two luxury expedition vessels being built by Helsinki Shipyard
14:55 Contract signed for extension of Świnoujście LNG Terminal
14:34 Rosmorrechflot to have 20 dredgers built at Lotos shipyard by 2030
14:12 Kongsberg Maritime wins 300 MNOK contract to equip four new cruise vessels
13:55 EU NAVFOR Somalia supports Djiboutian Coast Guard
13:33 Belarusian-Latvian cooperation in multimodal cargo transportation via Latvian ports discussed in Riga
13:10 Global Offshore announces new addition to its cable installation fleet
12:51 Rosmorport announces tender for dredging on access canal of Temryuk port
12:28 PortNews Media Group and Shipbuilding Cluster of Arkhangelsk Region sign agreement on cooperation
12:10 Contship Italia confirms operational continuity at Group's maritime and intermodal terminals amidst SARS-CoV-2 outbreak
12:07 Milaha reports a 6% increase in net profit for full year 2019
11:29 BIMCO, ICS, INTERCARGO and INTERTANKO launch survey to identify fuel oil issues
11:01 Seaspan agrees to purchase a fleet of four containerships
10:48 Viesturs Zeps elected Chairman of Freeport of Riga Board, Pavels Rebenoks elected Deputy Chairman
10:21 3rd Hydraulic Engineering Structures and Dredging Congress kicks off in Moscow
10:17 MABUX: Bunker market this morning, Feb 26
10:06 GTT receives an order from Hudong-Zhonghua Shipbuilding (Group) Co. Ltd. for the tank design of two new LNG Carriers
09:59 First dredger with ultra-low emissions has arrived in Belgium
09:54 Novorossiysk Commercial Sea Port to invest RUB 108.4 billion in development till 2029
09:35 Brent Crude futures price is up 0.65% to $54.61, Light Sweet Crude – up 0.8% to $50.3
09:17 Baltic Dry Index is up to 508 points

2020 February 25

18:06 Maritime world players gather in Antwerp for World Ports Conference 2020