Market Briefing

Thu 10 Apr 2014, 07:23 GMT

Oil prices curbed by Chinese figures (Brent: $107.6).

Fuel oil trend

Rotterdam: $ 1 lower.
Singapore: $ 2 higher.
US Gulf: $ 1 lower.

Oil prices curbed by Chinese figures (Brent: $107.6)

Chinese crude oil imports dropped to below 6 mio. bpd, which is a five-month low and 2% lower than same time last year. Also the exports and imports figures came out below expectations – seems like the country's economic growth keeps losing pace.

Yesterday's U.S. oil inventories showed a large drop in gasoline stocks and builds in crude and distillate stocks. Later today (14.30 CET) the U.S. jobless claims will be published; giving us an indication of the economic state of the country. Expect some volatility around the numbers.

On the geopolitical stage Iran is negotiating an "oil for goods" deal with Russia. In Libya, the government has regained full control over one port; the rebels still need to hand over the second port according to an agreement between the two parties.


		Lloyd’s Register delivers fleet-wide energy transition roadmap for TMS Tankers LR Advisory maps vessel-level compliance risk and decarbonisation pathways across the Greek owner’s tanker fleet.

		GCMD shares biofuel assurance and green finance insights at Hong Kong shipping decarbonisation forum The Global Centre for Maritime Decarbonisation presented pilot findings on biofuels and energy efficiency financing.

		Maersk conducts large-scale ethanol bunkering trial on Laura Maersk in Rotterdam A.P. Moller – Maersk has conducted a barge-delivered ethanol bunkering operation as part of ongoing fuel trials.

		MOL Techno-Trade completes first LNG bunkering for international cruise ship in Hokkaido Truck-to-ship LNG operation at Hakodate marks first such supply to an international cruise vessel in Hokkaido.

		Acta Marine takes delivery of methanol dual-fuel CSOV Acta Gemini for RWE wind farm charter The vessel will support operations at the Sofia Offshore Wind Farm at Dogger Bank.

		Malik Supply expands Danish team with bunker trader and finance hire Danish bunker supplier Malik Supply adds two new staff across its Fredericia and Aalborg offices.

		HJSC wins AiP for 10,000-teu biofuel-powered container ship design South Korean shipbuilder HJ Shipbuilding & Construction receives classification society approval for its biofuel vessel design at Posidonia.

		Capital Clean Energy Carriers takes delivery of LNG carrier and dual-fuel gas carrier, secures five new charters Athens-based CCEC expands its fleet and pushes contracted revenue backlog to $3.1bn.

		Fuel quality management for vessels in extended idle: Arabian Gulf, Gulf of Oman and adjacent anchorages \| Rahul Choudhuri, VPS Managing fuel quality deterioration following the closure of the Strait of Hormuz.

		Agastya Green Fuels signs 250,000 t/yr e-methanol offtake deal with Sri Lanka’s SAR Group Indian producer and Sri Lankan maritime firm agree long-term green methanol supply partnership.