Global Maritime Hub

Fuel demand around the world is recovering as lockdowns ease. The World Bunker Index MABUX showed an uptrend in June for all major types of bunker fuel. Prices rose fairly evenly, demonstrating a gradual recovery in demand on the global fuel market. The 380 HSFO index rose from 254 to 288 USD / MT (+34 USD), VLSFO: from 295...

Long-term contracted ocean freights fell for the second consecutive month, and are now 1.3% down year-on-year, as the ramifications of Coronavirus continue to shake the foundations of the global economy. According to the latest XSI Public Indices report from Oslo-based Xeneta, rates fell by 1.8% in June, following on from a 1.2% decline in May. Although levels remain historically...

Despite fears of a second wave of COVID-19, fuel markets rebounded last week, showing signs of improving fundamentals as global supplies continue to tighten. MABUX Global Bunker Index for 380 HSFO rose slightly from $283/MT on June 18 up to $286/MT today, Jun.25 (plus $3), VLSFO – added 4 USD (from $337/MT to $341/MT), MGO LS gained $8 (from...

(June 23) Record breaking jump in Capesize spot is a game changer Last week was one of the most exciting weeks in many years for the Capesize market, as spot rates more than doubled in a relentless rally that caught even seasoned freight traders and brokers by surprise and validated once again the incredibly volatile nature of shipping. The reasons...

Global bunker prices were steady last week while short decline was registered on Jun.15. MABUX Global Bunker Index for 380 HSFO decline slightly from $287/MT on June 11 down to $283/MT today, Jun.17 (minus $4), VLSFO – added 1 USD (from $335/MT to $336/MT, MGO LS rose from $408/MT to $411/MT (plus $3). A feared second wave of coronavirus...

The US freight carriers that will return quickest after the COVID-19 crisis will be the ones best placed to transport the fastest-recovering commodities. Food, other agricultural products, stones, gravel, and minerals are expected to lead the way. Source: McKinsey

The number of containerships that have opted to use the Cape Route and by-pass the Suez Canal has risen to a historic peace-time high Since the end of March, at least 32 sailings used the longer route via the Cape of Good Hope. Rather unusually, even three westbound Asia – Europe headhaul sailings have opted for the Cape Route. Carriers very rarely choose...

Last week bunker prices continued to rise slightly. MABUX Global Bunker Index for 380 HSFO rose from $274/MT on June 04 up to $287/MT today, Jun.11 (plus $13), VLSFO – from $314/MT to $335/MT (plus $21), MGO LS – from $387/MT to $409/MT (plus $22). Bunker indexes followed the general trend of the global oil market which was also in...

Availability of cargo space is number one customer requirement, according to the fourth annual shipper satisfaction survey of Drewry and ESC. Container shipping lines’ ability to provide cargo space as needed showed a marginal improvement in 2019, but this gain will have been dramatically reversed by the end of the first half of 2020. “This is a market with volatile...

Bunker prices have continued a moderate upward trend globally during the week. MABUX Global Bunker Index for 380 HSFO rose from $254/MT on May 28 up to $274/MT (plus $20) on Jun.04, VLSFO – from $295/MT to $314/MT (plus $19), MGO LS – from $371/MT to $ 385/MT (plus $14). Bad news came from a number of forecasts saying that global...