Rotterdam Market Report

Fri 13 Nov 2015, 11:23 GMT

Rotterdam Market Report

Market report from Marine Bunkering (Rotterdam) B.V.

Crude:

Surplus oil inventories are at the highest level in at least a decade because of increased global production, according to the Organization of Petroleum Exporting Countries.

Stockpiles in developed economies are 210 million barrels higher than their five-year average, exceeding the glut that accumulated in early 2009 after the financial crisis, the organization said in a report. Slowing non-OPEC supply and rising demand for winter fuels could "help alleviate the current overhang", enabling a recovery in prices, it said. The group's own production slipped last month because of lower output in Iraq.

Bunker Market:

The Northwest European high sulphur fuel oil market remained under pressure Thursday due to an abundance of prompt supply and muted buying interest. The prompt barge market was heavily weighed down.

Dutch time: 10.58 hrs

Fuel oil RMG 380 HS: 3.5%: USD 195-197

Marine Gas Oil DMA .89/ LS 0.1%: USD 396-399

ULS fuel oil: USD 370-375.

MGO Netherlands Rotterdam (NL)


		Singapore 12-month bunker calls hit all-time high in July TTM calls at world's largest bunkering hub reach record levels despite softer sales volumes.

		Singapore T3M bunker sales stay below 14m tonnes for fourth month running Rolling three-month volumes remain subdued despite modest month-on-month recovery in July.

		Peru’s Port of Callao launches first shore power system in Latin America DP World Callao’s onshore power supply system could cut over 6,300 tonnes of CO₂ annually.

		New Times Shipbuilding delivers LNG dual-fuel crude oil tanker to Capital Chinese yard hands over 155,500-dwt vessel in ceremony attended by owner’s representative.

		Shell completes maiden LNG bunkering operation in Valencia Delivery to MSC vessel facilitated by Fratelli Cosulich said to be first-ever LNG bunker supply at Spanish port.

		PIL hiring senior marine fuels executive to manage global bunkering operations Singapore-based role includes oversight of fuel procurement and delivery operations, covering PIL's fleet of container and multi-purpose vessels.

		Changhong International Shipbuilding cuts steel on two more 3100-teu boxships for Costamare HSFO-fuelled vessels feature scrubbers, SCR systems and shore power connections to meet emissions requirements.

		Lloyd’s Register and Maersk Mc-Kinney Møller Center launch ammonia safety and training resources for shipping New tools aim to help operators build the safety management and competency frameworks needed for ammonia-fuelled vessels.

		IBT Bunkering & Trading appoints Kevin Döhmen to manage new Singapore office Döhmen tasked with developing IBT’s operation in the Asian city-state.

		Peak takes delivery of third S-class vessel and cuts steel for ammonia-fuelled ship Norwegian operator marks two events at Chinese yard as ammonia-powered newbuild programme advances.