Praxis Market Update

Fri 8 Nov 2013, 14:57 GMT

Brent crude held around the $104.00/barrel level today, approaching lows not seen since July, in anticipation of renewed talks between US and Iran. Prices were supported on news that Saudi reduced its oil output in October to 9.75m bpd from 10.1m bpd in September.

Singapore: Singapore saw an average amount of enquiries today and avails were fine overall. Deliveries from 11th Nov onwards.

Hong Kong: Average demand coupled with good supplies. Deliveries from 10th Nov are possible.

Fujairah: Demand in Fujairah was lower today while supplies continue to be very tight. Earliest deliveries possible from 13th-17th Nov.


		Titan Clean Fuels signs e-methane supply deal with TURN2X for 2028 delivery Bunker supplier to receive e-methane from Spanish production plant for distribution across European ports.

		Japan consortium achieves hydrogen co-firing in main engine for large commercial vessel Engine reaches over 95% hydrogen co-firing ratio, with installation planned for 2027.

		Belgian Trading & Bunkering expands DMA 0.89 truck deliveries in ARA region BTB extends marine fuel offerings with truck-based deliveries to meet maritime market demand.

		ABS convenes roundtable on offshore power barge for Great Lakes emissions reduction Meeting brought together ports, academia and industry to advance shore power solution under EPA programme.

		Maersk marks 50-year Lego partnership with dual-fuel vessel model Shipping company displays an exhibition of Lego sets spanning five decades at Copenhagen headquarters.

		Cosco Shipping takes delivery of 80,000-dwt methanol-ready grain carrier Guo Yun Hai features box-shaped cargo hold and methanol-ready design with energy-saving devices.

		Algeciras reports record LNG bunkering volumes, claims European top-three position Spanish port says it supplied 333,833 cbm of LNG across 78 ship-to-ship operations in 2025.

		T&E: Iran conflict costing shipping industry €340m a day in fuel costs Transport & Environment analysis shows marine fuel price surge has cost the industry €4.6bn since conflict began.

		Damen delivers second hybrid-ready combi freighter to German shipowner The vessel features biofuel capability and will be retrofitted with wind-assist technology with government funding.

		Retrofit capability expands as regulatory uncertainty slows alternative-fuel conversions Lloyd’s Register warns delayed conversions could compress demand into a narrower, costlier timeframe as the fleet ages.