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Fri 25 Apr 2014, 07:45 GMT

Market Briefing


Geopolitics drives oil prices up (Brent: $110.3).

Fuel oil trend

Rotterdam: $ 1 higher.
Singapore: $ 5 higher.
US Gulf: $ 2 lower.

Geopolitics drives oil prices up (Brent: $110.3)

Improved economic numbers from both the U.S. and Europe supported oil prices yesterday; but the overall driver was Russia's sharp reaction to Ukrainian forces attempting to recapture areas in Eastern Ukraine from rebels. Russia started a military maneuver near the Ukrainian border and accusations are still flying back and forth between the West and Russia, leading to increased fear of supply disruptions and increased tensions.

In Libya, the yo-yo production continues with rebels refusing to reopen oil terminals, accusing the government of not implementing its part of the deal made weeks ago.

Global oil supply is up.

According to the Energy Information Administration (EIA), global oil production capacity increased in March and April, up 200,000 bpd compared to January and February). This information did, however, not influence oil prices since the market is primarily driven by geopolitical events at the moment.

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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