Market Briefing

Fri 30 May 2014, 10:31 GMT

Slow news day ahead (Brent: $109.8).

Fuel oil trend

Rotterdam: $ 1 lower.
Singapore: $ 1 lower.
US Gulf: $ 1 lower.

Slow news day ahead (Brent: $109.8)

No major events are scheduled for today. (Next Friday however is non-farm payroll which could rock the boat a bit). In Libya the soupe de jour (or should we say: coup de jour?) the acting Prime Minister refuse to hand over power to the newly elected PM. Production is still only a fraction of the actual capacity (200,000 bpd-ish vs. 1.4-1.5mbpd). The situation remains bleak and we stick to our guns in predicting a yo-yo production for the near future.

Release: EIA oil data (Consensus)

Yesterdays US oil invenstories came out more or less in line except for a draw on gasoline, and a small draw on distillates. Driving season is just around the corner, so a further draw on gasoline going forward should be expected.

Crude: 1,657,000 barrels (483,000)
Distillates: -196,000 barrels (750,000)
Gasoline: -1,803,000 barrels (283,000)


		Agreement signed to bring shore power to Rotterdam shortsea terminal by 2030 Shore power partnership at Rotterdam’s RST terminal targets AFIR compliance and reduced ship emissions at berth by end of decade.

		Equatorial Marine Fuel receives dual sustainability recognitions in 2026 Singapore-based bunker firm earns the LowCarbonSG logo and an EcoVadis Bronze Medal.

		Red Sea diversions and Mediterranean emissions rules set to squeeze bunker supply, warns Peninsula Bunker supplier Peninsula warns rerouted tankers face soaring fuel costs and regulatory penalties.

		Hydrogen maritime workshop held to push early regulatory alignment Classification society and French maritime authority explore pathways for hydrogen deployment at sea.

		Changhong International undocks seventh LNG dual-fuel container ship for MSC Vessel is part of a series fitted with ammonia-ready and methanol-ready provisions.

		IBIA urges further investigation into marine fuel concerns linked to shale oil components Industry body says evidence does not establish a direct link between shale oil and reported operational issues.

		ABS grants AiP for LNG bunkering barge design Samsung Heavy Industries and Conrad Shipyard receive AiP for basic design under joint development.

		ABB and Econowind combine wind propulsion with digital routing to cut ship emissions The partnership integrates wind-assisted propulsion with weather routing to reduce fuel consumption.

		Peninsula seeks junior cargo trader for Dubai role Position centres on the procurement of marine fuels, blending components and associated products.

		Island Oil opens operations to students in summer internship programme Cyprus-based firm gives students hands-on experience across its bunker business.