Praxis Market Update

Mon 15 Nov 2010, 12:21 GMT

Crude settled close to USD 85/bbl with the market cooling off from last week’s consecutive rally, as the USD gained more ground over the Euro, making commodities less appealing to foreign currency investors.

Bunker markets have also opened bearish with both IFO and distillates seeing in most cases double digit losses, but with buying demand still reluctant, eyeing a further drop within the following days.

In Singapore, inventories were said to be adequate for all main grades with earliest delivery avails pushed towards the 18th -19th of November.

In Fujairah, some players reported tight MGO stocks until further notice of replenishment.

In Suez, product avails are described as good for both sides of the Canal as per last local info.

In Hong Kong, earliest delivery avails are quoted basis 20th onwards due to currently tight ifo inventories.

MGO


		Lloyd’s Register delivers fleet-wide energy transition roadmap for TMS Tankers LR Advisory maps vessel-level compliance risk and decarbonisation pathways across the Greek owner’s tanker fleet.

		GCMD shares biofuel assurance and green finance insights at Hong Kong shipping decarbonisation forum The Global Centre for Maritime Decarbonisation presented pilot findings on biofuels and energy efficiency financing.

		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.