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Tue 3 May 2016, 14:50 GMT

Praxis Market Update


Market update from Praxis Energy Agents S.A.

Oil prices were lower in North American trade on Tuesday, reversing its overnight gains, as market players looked ahead to fresh weekly information on U.S. stockpiles of crude and refined products. The American Petroleum Institute will release its inventories report later in the day, while Wednesday’s government report could show crude stockpiles rose by 1.5 million barrels in the week ended April 29. Production from top exporter Saudi Arabia was 10.15 million bpd in April, but sources said it may return to near-records of 10.5 million bpd soon. Iran is also raising output following an end to sanctions in January, having increased its exports to almost 2 million bpd from a little over 1 million bpd at the start of the year.

Singapore: Avails are fair. Earliest deliveries from 8th of May onwards, depending on barge schedules. Tight avails for prompt supplies.

Istanbul: Avails are fine. Earliest deliveries basis 8th-9th of May onwards, depending on barge schedules. Prompt deliveries also possible.

Fujairah: Avails are tight. Earliest deliveries basis 9th-10th of May onwards, depending on barge schedules.

BP  
American Bureau of Shipping (ABS) logo. ABS introduces nuclear-ready notation for marine and offshore assets  

The classification society has released what it describes as an industry-first notation to support future nuclear conversion of vessels and offshore assets.
AiP handover ceremony for NEXTGEN Energy Hub (NGEH) design. ABS grants approval in principle for Seatrium’s NEXTGEN Energy Hub design  

The hub concept integrates ammonia bunkering, power generation and electric vessel charging in a single unit.
Jumbo Maritime crew aboard vessel. Jumbo orders two methanol-ready L-Class heavy lift vessels from Dajin Heavy Industry  

Dutch heavy lift specialist Jumbo signs newbuilding contract for two 25,000-dwt vessels.
China flag. Zhoushan completes first bonded bunker operation at Majishan port area  

The operation marks full fuel supply coverage across all general cargo terminals in Zhoushan's port system.
US dollar banknotes. Port of Long Beach launches $1m methanol bunkering challenge for oceangoing vessels  

A $1m prize aims to kick-start commercial methanol bunkering at one of North America's busiest ports.
Core Power, Athlos Energy, Deon Policy Institute and ABS logos. Greece floating nuclear study finds no fundamental barriers to implementation  

A PESTLE assessment of floating nuclear power plants in Greece identifies framework gaps, not feasibility barriers.
Northern Pathliner alongside Bergen LNG vessel. Molgas completes LNG cool-down and bunkering for Northern Pathliner at Northern Lights terminal in Norway  

Operation carried out at Øygarden facility, with K Line and Integr8 Fuels in the supply chain.
Rendering of a G2 Ocean OHGC vessel. G2 Ocean expands fleet with six future-fuel ready gantry crane vessels  

Open hatch specialist adds vessels and jet sail technology as part of a broad fleet renewal programme.
CMA CGM Adventure vessel at Port of Mombasa. LNG-powered CMA CGM Adventure makes first call at the Port of Mombasa  

Kenya Ports Authority receives its first large LNG-fuelled container vessel.
Liam Blackmore, Lloyd's Register. Maritime trio shapes IMO safety guidelines for ammonia as marine fuel  

Real-world operational experience feeds directly into new IMO ammonia fuel safety framework.




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