Market Briefing

Tue 5 Aug 2014, 10:42 GMT

Chinese data disappoints; oil inventory data ahead (Brent: $105.5).

Fuel oil trend

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

Chinese data disappoints; oil inventory data ahead (Brent: $105.5)

This morning, the Chinese HSBC Services PMI showed a decline from 53.1 to 50.0 which is near 9-year low. On Friday, the Exports/Imports as well as Trade Balance are published and will be followed closely for hints of growth status in the huge country.

Despite the unrest in Iraq, oil exports have increased to approx. 2.442 barrels per day in average in July (from 2.423 in June) according to the country’s oil ministry. In Libya, output is down to approx. 450 bpd. due to heavy fighting and strikes.

Tonight, the weekly oil data from the American Petroleum Institute will be published; last week showed draws in crude oil stock, builds in gasoline and distillates stocks. Basically the same picture as expectations for tomorrow's EIA oil inventory data.


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		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.