Praxis Market Update

Tue 14 Apr 2015, 16:58 GMT

Market update from Praxis Energy Agents S.A.

Yemen's liquefied natural gas (LNG) plant said on Tuesday it declared force majeure due to deteriorating security and halted all production. Yemen is a small oil producer, pumping only around 130,000 bpd of crude in recent months, but analysts fear its civil war could destabilize its northern neighbor, Saudi Arabia. "Geopolitical risk in oil markets remains elevated," JP Morgan analysts said in a note. "From a fundamental perspective however, supply from the Middle East is expected to remain high, with Saudi Arabia and Iraqi production on the rise."

Singapore: Demand was average and avails fine. The earliest dates for deliveries were from 16-17th April.

Fujairah: Avails were tight, especially IFO 180. Earliest deliveries were possible depending on supplier barge schedules.

Istanbul: Avails are fine. Earliest deliveries were possible today depending on supplier barge schedules.

BP LNG


		Europe risks falling behind China in race to produce e-fuels for shipping Europe has 69 e-fuel projects but only six are operational, while China is scaling rapidly.

		Sing Fuels opens applications for junior bunker trader role Singapore-based firm seeks candidates with one to two years of experience in marine fuels or the wider maritime industry.

		Eleven Energy eyes Athens expansion with trader hire Riyadh-headquartered firm looking to open its second office in Europe.

		Monaco backs Scorpio Ship Management in European hydrogen propulsion project Government co-finances Scorpio’s role in Project Mariner as Europe pushes to develop hydrogen propulsion technology for commercial shipping.

		Exmar takes delivery of second dual-fuel ammonia carrier at HD Hyundai Heavy Industries Arlon is second in a planned series of four ammonia dual-fuel midsize gas carriers.

		IBT Bunkering & Trading launches Singapore desk to complement Hamburg operation German bunker firm says the move gives it round-the-clock coverage across two continents.

		Singapore awards eight new LNG bunkering licences ahead of September launch The Maritime and Port Authority of Singapore is expanding the city-state’s LNG bunkering capacity with eight new five-year licences.

		New Times Shipbuilding launches two LNG dual-fuel crude oil tankers for Maran and Capital Ship Two 155,500-dwt LNG dual-fuel tankers floated out for Greek shipping groups.

		Naming ceremony held for Huangpu Wenchong's first methanol dual-fuel bulkers Two 65,000-tonne vessels built for Limassol-based Lemissoler Navigation.

		Damen launches second CSOV 9020 for TSSM, prepared for future methanol operation The vessel, to be named TSS Challenger, is due for delivery in early 2027.