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Wed 18 Nov 2009, 15:49 GMT

Praxis Market Update

After reaching usd 80/bbl, crude prices started to soften on early afternoon hours though still keeping firm over 79/bbl with marginal variations.

Some analysts estimate that considering the present economy, the usd 80/bbl would be the upper limit of consumers tolerance so at least in the short-term higher rates cannot be supported by market fundamentals.

In Singapore, earliest supply date for heavy fuel requirements is generally the 22nd onwards, whereas in some cases schedules have been reported tight until the 25th.

In Jebel Ali, delivery schedules for combined requirements are looking towards the 22st - 23rd, while intermediate ifo and distillate availability is presently reported good.

Maritime and Port Authority of Singapore logo. Singapore opens applications for additional LNG bunkering licences  

Maritime and Port Authority sets 27 March deadline for operators seeking new supply permits.
A cargo port in Singapore. Singapore reports record marine fuel sales and container throughput in 2025  

Port of Singapore handled 56.77 million tonnes of marine fuel, up 3.4% year-on-year.
Sustainable sign. Superalfuel workshop to examine safety and sustainability of alternative marine fuels  

Event in Montenegro will focus on hydrogen, ammonia, and methanol deployment in port areas.
Uniper and AM Green agreement signing. Uniper signs deal for up to 500 kt/yr of renewable ammonia from AM Green  

Agreement marks first long-term RFNBO-certified renewable ammonia offtake deal for an Indian company.
Panama Canal Authority and Monjasa partnership signing. Panama Canal Authority and Monjasa sign five-year cooperation agreement  

Partnership to fund community projects in Panama Canal Watershed focused on environment and education.
Oriental Aquamarine vessel. HMM deploys Korea's first MR tanker with wing sail technology  

Oriental Aquamarine equipped with wind-assisted propulsion system expected to cut fuel consumption by up to 20%.
BC Ferries vessel render. ABB to supply hybrid-electric propulsion for BC Ferries' four new vessels  

Technology will enable ferries to run on biofuel or renewable diesel with battery storage.
Alternative marine fuels port graphic. LNG-fuelled boxships sustain alternative fuel orderbook share despite market slowdown  

Alternative fuels maintained 38% of gross tonnage orders in 2025, driven by container segment.
Conceptual diagram of the MOL–ITOCHU strategic alliance. MOL and ITOCHU sign MoU for cross-industry environmental attribute certificate partnership  

Japanese shipping and trading firms to promote EACs for reducing Scope 3 emissions in transport.
CPN as China's No. 1 marine biofuel supplier in 2025 graphic. Chimbusco Pan Nation delivers 170,000 tonnes of marine biofuel in China in 2025  

Supplier says volumes quadrupled year on year, with a 6,300-tonne B24 operation completed during the period.




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