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Wed 24 Sep 2014, 09:13 GMT

Market Briefing


Bears trumped bulls - oil price drop (Brent: $96.9).

Fuel oil trend

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

Bears trumped bulls - oil price drop (Brent: $96.9)

Oil prices fell yesterday as bullish geopolitical news of air strikes in Syria did not outweigh bearish news of increase in oil output in Libya and Iraq. In Libya, restart of the large El Sharara oilfield made output increase to approx. 800,000 barrels per day; in southern Iraq oil exports seem to reach 2.6 mio. bpd.

Last night's weekly oil inventory data from the American Petroleum Institute showed a surprisingly high draw in crude stock: 6.500M versus a build of 3.300M last week. Distillates and gasoline stocks increased by 3.000M and 0.091M respectively. Now markets' eyes will be on the official EIA oil inventory report this afternoon for confirmation of this trend.

Later this morning, the German Ifo Business Climate Index will be published; yesterday, the German Manufacturing PMI disappointed (50.3 versus 51.4 previous) as did the European Services PMI (52.8 versus 53.1 previous). The U.S. New Home Sales will be published at 16.00 CET.

BP  
Suezmax crude oil tanker render. Guangzhou Shipyard secures Suezmax order, delivers vessels ahead of schedule  

China State Shipbuilding subsidiary reports nine vessel deliveries in the first quarter of 2026.
Clean ammonia project pipeline chart as of March 2026. Renewable ammonia pipeline grows despite Norway project freeze  

GENA Solutions tracks 325 projects totalling 146 MMT of capacity by 2034 despite execution challenges.
Antwerpen and Arlon naming ceremony. Exmar names world’s first ocean-going ammonia dual-fuel gas carriers in South Korea  

Two 46,000-cbm vessels can reduce CO₂ emissions by up to 90% during navigation.
Fujian province map with highlighted locations. Gulf Marine expands bonded lubricant supply network in China’s Fujian province  

Company adds supply points in Putian, Ningde and Fuqing, covering 20 terminals across the region.
Excelerate Acadia naming ceremony. Bureau Veritas classifies Excelerate Energy’s new 170,000-cbm FSRU Excelerate Acadia  

Vessel built by HD Hyundai Heavy Industries features dual-fuel engines and proprietary regasification system.
Osprey Energy logo. Osprey Energy seeks junior bunker trader to support Cebu trading activities from Netherlands  

Dutch marine fuel supplier targets Cebu region expansion through new training programme for Filipino candidates.
EUA prices dropping graphic. KPI OceanConnect highlights falling EUA prices as opportunity for shipowners to lock in compliance costs  

Marine fuel firm says timing carbon allowance purchases can reduce costs as EU emissions scope expands.
RINA employee in control room. RINA partners with Hanwha Group on battery-hybrid propulsion for ro-ro ferries  

Classification society to provide regulatory compliance verification for hybrid battery systems on newbuilds and retrofits.
Amadeus Titanium vessel. HGK Shipping’s Amadeus Titanium fitted with wind assistance system  

Coastal vessel equipped with VentoFoils at Dutch port to reduce fuel consumption on Covestro routes.
Sebastian Weder, Bunker One. Bunker One expands physical supply operations to Tallinn and Finland  

Marine fuel supplier extends Baltic Sea coverage with new operational presence in Estonia and Finland.




   Fuels & Propulsion

Ammonia B100 B24 B30 Bio-LNG/LBM Biofuel Biogas Biomethanol Dual-fuel E-fuel E-methane/e-NG Electric Ethanol FAME Green hydrogen Green/e-ammonia HVO Hydrogen LNG LPG Lubes Methanol MGO Nuclear UCOME ULSFO VLSFO Wind power



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